Section 74(2) in The Special Economic Zones Rules, 2006
(2)The following conditions shall apply on the exit of the Unit, namely:-(i)Penalty imposed by the competent authority would be paid and in case an appeal against an order imposing penalty is pending, exit shall be considered if the Unit has obtained a stay order from competent authority and has furnished a Bank Guarantee for the penalty adjudicated by the appropriate authority unless the Appellate Authority makes a specific order exempting the Unit from this requirement.(ii)In case the Unit has failed to fulfill the terms and conditions of the Letter of Approval and penal proceedings are to be taken up or are in process, a legal undertaking for payment of penalties, that may be imposed, shall be executed with the Development Commissioner.(iii)The Unit shall continue to be treated a Unit till the date of final exit.
