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sukhbir singh (managing director)     11 September 2014

Meaning of "has held" in a govt. notificatnio

Ministry of Commerce amended SEZ Rules and inserted new Rule 74A.  It states that Transfer of assets by SEZ units on Exits is allowed subject to the followig condidtions:

 

1. the unit has held a valid lease deed for a period of five years and valid Letter of approval on the date of transfer.

2. the unit has been operational for atleast a period of two years.

The date of transfer can be the date of appication.  So on th date of transfer or application by a unit if it HAS HELD a letter of approval for five years, say , a unit applies on 10.9.2014 and HAS HELD a valid letter of aprpoval during 2005-2010 that is for a period of five years, he will be well within his contention that he satisfies the condition.  But the government is saying that on the date of transfer he should be holding a valid letter of approval and is not interpreting the wording HAS HELD correctly. Please enlighten.



Learning

 5 Replies

Arpit lalan (Legal Consultancy/Advocate)     13 September 2014

Please read your own question again. as on the date of the application you need to possess the letter of current 5 year period.

Arpit lalan (Legal Consultancy/Advocate)     13 September 2014

Example - on 10.09.2014 as you have mentioned you have applied for transfer. The letter of approval has to be from 2009 until 2014.

so the Government is more or less right. since your approval is until 2010 and not until 2014.

hope its clear.

sukhbir singh (managing director)     13 September 2014

The Reply from Mr. Arpit.  Then how do you interpret 'has held'.   IF you see the dictionery it relates to past tense.   If according to you we should have a current licence, then the word in the Notifiation should have been 'holding' and not 'has held'.  Please relook

Arpit lalan (Legal Consultancy/Advocate)     15 September 2014

Mr. Sukhbir Singh,

                                   We need to understand that not all dictionary meanings are correct or rather apply to legal comprehending.

for instance - we use the word 'attach' - in general sense it means together with something.

"I have attached the drawings to my letter."

However, that sentence is totally incorrect in Law.

Attachment means  - attaching the property through the order of a court.

Annexed is what attach for general use is.

So, finally the sentence should read as:- " I have annexed the drawings with my letter".

Arpit lalan (Legal Consultancy/Advocate)     15 September 2014

now to reply to the words Has held - how do you make it past tense for something which is supposed to be held BEGINNING FROM THE PAST UNTIL NOW??

Hope it clarifies. you are to held xyz permission from 2010 till 2014. how is it past tense? its not.

 

 


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