SEZ CO-DEVELOPERS TOLD TO SEPARATE ACCOUNTS OF OWN UNIT

The government has asked Special Economic Zone (SEZ) co-developers setting up their own units to register themselves as separate legal entities, a move that is expected to plug possible revenue leakages. If a separate legal entity cannot be set up, the co-developer will have to take special permission and ring-fence the activities of the SEZ and his unit by stringent accounting norms.