Constitution, powers and functions of Investment Promotion and Monitoring Board

(1) The Government shall, by notification, constitute an Investment Promotion and Monitoring Board with the Chief Minister as the Chairman, Secretary, Industries Department as the Member Convener and such other members as may be prescribed.

(2) The Investment Promotion and Monitoring Board shall perform the following functions, namely:—

(i) meet at such time and place as the Chairman of the Board may decide and transact business as per the prescribed procedure;

(ii) review and monitor the disposal of applications by the State Single Window Committee, State Single Window Monitoring Committee and the Competent Authorities;

(iii) provide strategic direction and oversee the functioning of both the State Single Window Committee and the State Single Window Monitoring Committee;

(iv) periodically review the implementation and operational efficiency of the Single Window Mechanism in the State;

(v) consider and decide cases under section 20;

(vi) review any other issue related to investor facilitation as put forth by the State Single Window Committee or the State Single Window Monitoring Committee;

(vii) review policy issues related to investment promotion, facilitation and grounding;

(viii) review and monitor the approval status for incentives to all such categories of projects as specified by the Government, by notification; and

(ix) exercise such other powers and perform such other functions as may be prescribed.

(3) The orders passed by the Investment Promotion and Monitoring Board for issuing clearances to enterprises exceeding investment limits as may be notified under sub-section (1) of section 5 shall be final and binding on the State Single Window Committee, the State Single Window Monitoring Committee and the Competent Authorities.