Write short notes on: (ii) Industrial Entrepreneurs Memorandum (IEM)
CS Executive · Setting up of Business Entities and Closure · PYQS · June 2019
Write short notes on: (ii) Industrial Entrepreneurs Memorandum (IEM)
Answer & Explanation:
All industrial undertakings exempt from the requirements of industrial licensing, including existing units undertaking substantial expansion, are required to file information in the prescribed form for Industrial Entrepreneurs Memorandum (IEM), i.e. 'Form IEM', with the Secretariat of Industrial Assistance (SIA), Department of Industrial Policy and Promotion (DIPP), Government of India, and obtain an acknowledgement. No further approval is required. It is to be noted that this form can also be filed online now a days. Industrial Entrepreneurs Memorandum (IEM) is an application for acknowledgment of unit.
Topics: Industrial Policy
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