Rule 54 - Monitoring of performance - Special Economic Zones Rules, 2006

54. Monitoring of performance .- (1) Performance of the Unit shall be monitored by the Approval Committee as per the guidelines given in Annexure appended to these rules. (2) In case the Approval Committee come to the conclusion that a Unit has not achieved positive Net Foreign Exchange Earning 1 [ or stipulated Value Addition as specified in rule 53 ] or failed to abide by any of the terms and conditions of the Letter of Approval or Bond-cum-Legal Undertaking, without prejudice to the action that may be taken under any other law for the time being in force, the said Unit shall be liable for penal action under the provisions of the Foreign Trade (Development and Regulation) Act, 1992 ******* Notes 1. Inserted vide Notification No. G.S.R. 909(E) dated 19-09-2018