Centre bars selling chip plants till declaration of full commercial production under Semicon 2.0 scheme

New Delhi: Approved chip plants under the Semicon 2.0 programme will not be allowed to sell or mortgage any part of the project till the declaration of commercial production of the entire project, according to the scheme’s guidelines issued on Thursday.

The government had notified Semicon 2.0 with an incentive outlay of Rs 1.27 lakh crore.

Till declaration of the commercial production of the entire project, the company shall not sell or dispose of the project assets or any part thereof or create thereon any mortgage, lien or charge by way of hypothecation or otherwise, except in the ordinary course of business, without prior approval of the Nodal Agency, the guideline said.