Industry Ministry Unveils SOP To Simplify Modifications & Cancellations Of IEMs

New Delhi, Jan 3 (KNN) The Commerce and Industry Ministry announced a Standard Operating Procedure (SOP) for effecting changes or cancellations in the Industrial Entrepreneur Memorandum (IEM), on Tuesday.

In an office memorandum, DPIIT acknowledged the increasing number of applications from companies seeking amendments, cancellations, and issuance of duplicate IEMs.

The memorandum stated, "In this regard, the requests have been considered, and it is decided that the standard operating procedure will be adopted for these purposes."

For the cancellation of IEM acknowledgements, the memorandum outlined that the concerned firm must submit a request letter on the company's letterhead, signed by an authorized officer, providing specific reasons for cancellation, along with a copy of the original IEM.

The cancellation letter will be issued upon the approval of the concerned Additional Secretary (AS)/Joint Secretary (JS).

A similar procedure is outlined for making amendments and obtaining duplicate IEMs, as per the memorandum.

Industrial entities exempted from licensing requirements under The Industries (Development and Regulation) Act of 1951 are mandated to submit information related to the establishment of industries, termed as the IEM (Industrial Entrepreneur Memorandum).

The acknowledgment of receipt for such information by the Department for Promotion of Industry and Internal Trade (DPIIT) is referred to as IEM Acknowledgement.

(KNN Bureau)