Minutes of the 101st meeting of the Board of Approval for SEZ held on 27th November, 2020 to consider setting up of Special Economic Zones and other miscellaneous proposals - SEZ - Minutes of the 101st meeting of the SEZ

Minutes of the 101 st meeting of the Board of Approval for SEZs held on 27th November, 2020 The 101st meeting of the Board of Approval (BoA) for Special Economic Zones (SEZs) was held on 27th November, 2020 under the Chairmanship of Shri Anup Wadhawan, Secretary, Department of Commerce, at 11.00 A.M. in Room No. 141, Udyog Bhawan, New Delhi. The list of participants is annexed (Annexure-1). Item No. 101.1: Confirmation of minutes of the meeting of the 100th BoA held on 25 th September, 2020. The Board ratified the minutes of the 100th meeting of the BoA held on 25.09.2020. 101.2 Request for extension of LoA beyond 3rd year onwards (four proposals) 101.2(i) Request of M/s Axiom Chemicals Pvt. Ltd. at Plot No Z/80, Dahej SEZ Ltd, Dahej, Village: Luvara, T al: Vagra, Dist: Bharuch, Gujarat for extension of validity of the Letter of Approval (LOA) upto 26.10.2021. The Board, after deliberations, approved extension of validity of LoA for a period of one year, i.e. up to 26.10.2021. 101.2 (ii) Request of M/s Indo UK Healthcare Pvt. Ltd. Sector 19, MIHAN SEZ, Nagpur a unit in MIHAN SEZ for extension of LoA beyond 09.03.2020 upto 09.03.2021. The Board, after deliberations, approved extension of validity of LoA for a period of one year, i.e. up to 09.03.2021. 101.2(iii) Request of M/s. Arya Fin-Trade (IFSC) Pvt. Ltd., for 3rd extension of Letter of Approval in Multi Services SEZ at Ratanpur, District Gandhinagar, Gujarat, developed by M/s. GIFT SEZ Ltd. The Board, after deliberations, approved extension of validity of LoA for a period of one year, i.e. up to 07.03.2021. 101.2(iv) Request of M/s Wockhardt Ltd., a unit at Shendre, Aurangabad, Maharashtra for extension of validity period of LoA for oral solid dosage for human usage for a period of one year upto 24.10.2021. The Board, after deliberations, approved extension of validity of LoA for a period of one year, i.e. up to 24.10.2021. 101.3 Proposal for change of shareholding pattern/ name/change of control/merger (seven proposals) 101.3(i) Request of M/s. Sai Wardha Power Limited a sector specific SEZ for power at Warora Growth Centre, Warora, Chandrapur, Maharashtra for change of name to M/s. Sai Wardha Power Generation Limited. The Board, after deliberations, approved the proposal for change of name of the company to M/s. Sai Wardha Power Generation Limited , with the following conditions :- i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered developer entity; ii. Fulfilment of all eligibility criteria applicable to developer, including security clearance etc. by the altered developer entity and its constituents; iii. Applicability of and compliance with all relevant rules of Revenue/Company Affairs/SEBI etc., which regulate issues like capital gains, equity change, transfer, taxability etc. iv. Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority. v. The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961. vi. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. vii. The developer shall furnish details of PAN and jurisdictional assessing officer of the developer to CBDT. 101.3 (ii) Proposal of M/s. Kakinada SEZ Limited, developer of port based multi product SEZ at Ramanakkapeta and A.V. Nagaram Villages in East Godavari District, Kakinada, Andhra Pradesh for change in shareholding pattern of the company. The Board, after deliberations, approved the proposal for change in shareholding pattern subject to approval by relevant statutory bodies with the following conditions:- i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered developer entity; ii. Fulfilment of all eligibility criteria applicable to developer, including security clearances etc. by the altered developer entity and its constituents; iii. Applicability of and compliance with all relevant rules of Revenue/Company Affairs/SEBI etc., which regulate issues like capital gains, equity change, transfer, taxability etc. iv. Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority. v. The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961. vi. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. vii. The developer shall furnish details of PAN and jurisdictional assessing officer of the developer to CBDT. 101.3(iii) Request of M/s. Festus Properties Pvt. Ltd. (Developer) a sector specific SEZ for IT/ITES at Powai, Mumbai, Maharashtra for approval of change in shareholding pattern of the company. The Board, after deliberations, approved the proposal for change in shareholding pattern subject to approval by relevant statutory bodies with the following conditions:- i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered developer entity; ii. Fulfilment of all eligibility criteria applicable to developer, including security clearances etc. by the altered developer entity and its constituents; iii. Applicability of and compliance with all relevant rules of Revenue/Company Affairs/SEBI etc., which regulate issues like capital gains, equity change, transfer, taxability etc. iv. Full financial details relating to change in equity (merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority. v. The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961. vi. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. vii.. The developer shall furnish details of PAN and jurisdictional assessing officer of the developer to CBDT. 101.3(iv) Request for transfer of Co-developer Business Undertaking by M/s. Prestige Estates Projects Limited to M/s. Kochi Cyber Greens Private Limited by way of a slump sale on a going concern basis and subsequent change in shareholding pattern and Board of Directors. The Board, after deliberations, approved the proposal for transfer of Co-developer Business Undertaking by M/s. Prestige Estates Projects Limited to M/s. Kochi Cyber Greens Private Limited by way of a slump sale on a going concern basis and subsequent change in shareholding pattern and Board of Directors. The approval shall be subject to approval by relevant statutory bodies with the following conditions :- i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered co-developer entity; ii. Fulfilment of all eligibility criteria applicable to co-developer, including security clearances etc., by the altered co-developer entity and its constituents; iii. Applicability of and compliance with all relevant rules of Revenue/Company Affairs/SEBI etc., which regulate issues like capital gains, equity change, transfer, taxability etc. iv. Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority. v. The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961. vi. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. vii. The co-developer shall furnish details of PAN and jurisdictional assessing officer of the codeveloper to CBDT. 101.3 (v) Proposal of M/s. ANSR Global Corporation Pvt. Limited, Co-Developer for merger of their other 2 Co-Developers with their company. The Board, after deliberations, approved the proposal for merger subject to the following conditions:- i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered developer entity; ii. Fulfilment of all eligibility criteria applicable to co-developer, including security clearances etc. by the altered co-developer entity and its constituents; iii. Applicability of and compliance with all relevant rules of Revenue/Company Affairs/SEBI etc., which regulate issues like capital gains, equity change, transfer, taxability etc. iv. Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority. v. The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961. vi. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. vii. The co-developer shall furnish details of PAN and jurisdictional assessing officer of the codeveloper to CBDT. 101.3(vi) Request of M/s Seaview Developers Pvt. Ltd., developer of Plot No. 20 21, Sector-135 for change in shareholding pattern of the company. The Board, after deliberations, approved the proposal for change in shareholding pattern subject to approval by relevant statutory bodies with the following conditions:- i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered developer entity; ii. Fulfilment of all eligibility criteria applicable to developer, including security clearances etc. by the altered developer entity and its constituents; iii. Applicability of and compliance with all relevant rules of Revenue/Company Affairs/SEBI etc., which regulate issues like capital gains, equity change, transfer, taxability etc. iv. Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority. v. The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961. vi. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. vii. The developer shall furnish details of PAN and jurisdictional assessing officer of the developer to CBDT. 101.3(vii) Request of M/s. Candor Gurgaon One Realty Projects Pvt. Ltd., developer of IT/ITES SEZ at Village Tikri, Sector-48, Gurugram (Haryana) for change in shareholding pattern of the company. The Board, after deliberations, approved the proposal for change in shareholding pattern subject to approval by relevant statutory bodies with the following conditions:- i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered developer entity; ii. Fulfilment of all eligibility criteria applicable to developer, including security clearances etc. by the altered developer entity and its constituents; iii. Applicability of and compliance with all relevant rules of Revenue/Company Affairs/SEBI etc., which regulate issues like capital gains, equity change, transfer, taxability etc. iv. Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority. v. The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961. vi. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. vii. The developer shall furnish details of PAN and jurisdictional assessing officer of the developer to CBDT. 101.4 Miscellaneous cases regarding procurement of restricted items (four proposals) 101.4(i) Procurement of restricted items such as sand, soil etc. for infrastructure development in SEZ and post ratification by BoA in terms of DoC s letter dated 18.05.2020. (a) Proposal of M/s. Godrej Boyce Mfg Co Ltd. for procurement of restricted items for SEZ Developer Infrastructure development repairing facility in terms of Rule 27 of SEZ Rules, 2006. The proposal of DC, Dahej for ratification of approval granted by the DC office for procurement of following items was placed before the BoA: Description Estimated Quantity Sand (including sand used for RMC) 8000 M Stone (including stone used for RMC, Road WMM Bitumen carpet 29000 M Granite 120 M The Board, after deliberations, decided to ratify the approval granted by the Development Commissioner under DoC's Instruction dated 18.05.2020 for procurement of restricted item viz. sand, soil etc. subject to the condition that it should be ensured that the allowed items are actually used in the SEZs and all the environmental and other relevant regulations are complied with. (b) Ratification sought by DC, VSEZ in respect of four units. The proposal of DC, VSEZ for ratification of approval granted by the DC office for procurement of following items was placed before the BoA: Sl. No. Name of the Unit Name of the SEZ Material Permitted Quantity Date of Approval 1 M/s. Pharma Zell (India) Pvt. Limited Ramky SEZ Sand 1250 MT 27.10.2020 2 MIs Biocon Biosphere Limited Ramky SEZ River Sand 5000 MT 23.10.2020 3. Aequitas Estones Private Limited APIIC Bldg. Product SEZ Gravel 90,000 Tons 23.10.2020 4. Aequitas Estones Private Limited APIIC Bldg. Product SEZ Sand 15,000 Tons 23.10.2020 The Board, after deliberations, decided to ratify the approval granted by the Development Commissioner under DoC's Instruction dated 18.05.2020 for procurement of restricted item viz. sand, soil etc. subject to the condition that it should be ensured that the allowed items are actually used in the SEZs and all the environmental and other relevant regulations are complied with. (c) Procurement of Sand/Soil by Kandla SEZ units and ratification of approval granted under Delegation of Powers granted to Development Commissioner. The proposal of DC, KASEZ for ratification of approval granted by the DC office for procurement of following items was placed before the BOA: Sr. No. Name of the Unit Materials permitted Quantity Permitted Date of approval 1. Milak warehouse Sand (For construction) 350 MT 03.07.2020 2. NavinSaxena Research Tech Pvt Ltd., Sand (for construction) 5 trucks/ 100 MT 03.07.2020 3. OswalAgrimpex Sand Kakri 5 dumpers 2 dumpers 03.07.2020 4. Dynamic Duty Free Houses Sand 80 MT 03.07.2020 5. Gokul Overseas Sand 28 MT 03.07.2020 6. Om Aromatic Solvents Sand, Soil, Cement 3 trucks 03.07.2020 7. Ponpure Chemical India Pvt Ltd., Sand, Soil and Black Stone 100 trucks of sand and soil; 80 trucks of black stone 03.07.2020 8. MESO Pvt Ltd., Sand for repairs/maintenance 25 MT 03.07.2020 9. Sky Enterprises, Sand Cement 100 foot 10 bags. 03.07.2020 10. GL Refractories Ltd., Sand Aggregate 80 Cub Meter 100 Cub Meter 08.07.2020 11. Zetts Cosmetics Pvt Ltd., Sand (for construction only) 9 trucks/200 MT 08.07.2020 12. Anita Exports Sand Aggregate Cement Blocks 1 truck load 1 truck load 2 truck load 08.07.2020 13. Praj Industries Ltd., Sand Kapchi 400 CFT 400 CFT 08.07.2020 14. Everest Kanto Cylinder Ltd., Sand Kapchi 500 MT 500 MT 14.07.2020 15. Harsh Global Sand Kapchi 375 MT 250 MT 16.07.2020 16. Kishore Export House Sand Kapchi 250 MT 250 MT 16.07.2020 17. Trimurti Fragrances Flavours Pvt Ltd., Sand Soil 375 MT (13-14 trucks) 14.07.2020 18. AumSolvchem Sand Soil Black stone kala pathar kakri) 80 MT 110 MT 14.07.2020 19. Global Commodities Trading Impex Pathar/Kakri 375 MT (13-15 trucks) 14.07.2020 20. Ganpati Overseas Black stone (kalapatthar Kakri) Sand and Soil 3 trucks 3 trucks 13.07.2020 21. Marvel Fragrances Company Sand Cement Aggregate 80 MT 500 Bags 60 MT 21.07.2020 22. Anandini Warehousing Food LLP Sand 2MT 21.07.2020 23. Dyna Glycols Pvt Ltd Sand Aggregate Black stone Cement Parrow blocks Curbing blocks 15 truck approx 14 trucks approx. 2000 bags approx. 40000 Nos 2000 Nos 24.07.2020 24. Jindal Fibres Sand Aggregate Black stone Blocks 1 truck 2 trucks 600 Nos. 31.07.2020 25. Sujan Oil gas infra logistics Sand Aggregate Malba 10 trucks (400 CFT/truck) 15 Trucks (400 CFT/truck) 2 trucks (400 CFT/truck) 31.07.2020 26. Creative Free Trade Warehousing Pvt Ltd., Reti (Sand) Kankri (Black stone) Kapchi 50 MT 25 MT 25 MT 31.07.2020 27. Transworld Furtichem Pvt Ltd., (Unit I) Reti(Sand) Kankri(Black stone) Kapchi 100 MT 50 MT 50 MT 31.07.2020 28. Om SiddhVinayakImpexPvt Ltd., Sand 5 Ton 31.07.2020 29. Royal Petro Oil Refinery LLP, Sand 24655 kgs 31.07.2020 30. GKN Enterprises Rock pieces 40 trucks 07.08.2020 31. Gokul Overseas Sand 300 MT 07.08.2020 32. RusanPharma Ltd., Sand 600 MT 07.08.2020 33. Ipca Lab Ltd., Sand kapchi 30 MT 30 MT 07.08.2020 34. United Drilling Tools Ltd., Sand Aggregate 10 MT 5 MT 11.08.2020 35. Adinath Warehousing Co. Sand Bricks Blocks Crush metal 15 trucks 15000 pieces 15000 pieces 100 trucks 11.08.2020 36. Maruti Exports Sand Bricks Blocks Crush metal 5 trucks 15000 pieces 15000 pieces 100 trucks 11.08.2020 37. Everest Kanto Cylinder Ltd., Sand Kapchi 500 MT 500 MT 13.08.2020 38. United Drilling Tools Ltd., Sand/Dust Cement/Malba 75 MT 300 MT 17.08.2020 39. International Warehousing Trading, Sand 100 MT 17.08.2020 40. Mission Pharma Logistics India Pvt. Ltd. Sand 100 MT 21.08.2020 41. Bajaj warehousing services, Sand 25 MT 21.08.2020 42. Schmetz India Pvt Ltd., Sand 22 MT 21.08.2020 43. Harish Processors Pvt Ltd., Sand 10 trucks (400 CFT/ truck) 25.08.2020 44. New Plastomers India Ltd., Sand 8-10 bags of 25 kgs each 27.08.2020 45. Nakoda Sales Corporation, Sand 3 tractor 01.09.2020 46. Texool Spinners Sand 10 dumpers 01.09.2020 47. Unilever India Exports Ltd., Sand 600 MT 03.09.2020 48. Gokul Overseas, Sand 400 MT 03.09.2020 49. Vijay Tanks Vessels (P) Ltd., Sand 500 CET 03.09.2020 50. Prasar Enterprises, Sand 2 tractor 07.09.2020 51. Commodities Trading, Sand 150 MT 09.09.2020 52. AumSolvchem, Sand 200 MT 09.09.2020 53. AVB International, Sand 60 MT 11.09.2020 54. Hindustan Oils Industries, Sand 8 MT 14.09.2020 55. Capital Foods Pvt Ltd., Sand 150 MT 21.09.2020 56. Presto Industries (Exports) Sand 7 dumpers (500 CFT each) 22.09.2020 57. Flax Apparels Pvt Ltd., Sand 18 trucks (500 CFT) 22.09.2020 58. Oswal Extrusion Ltd., Sand 100 MT 05.10.2020 59. Amax International warehousing Pvt. Ltd. Sand 500 MT 05.10.2020 60. Euro India Cylinders Ltd., Sand 30 MT 07.10.2020 61. Royal Petro Oil Refinery LLP, Sand 25 dumpers 07.10.2020 62. Shrine Chemicals Pvt Ltd., Sand 500 MT 07.10.2020 63. Vijay Tanks Vessels (P) Ltd., Sand 500 CFT 09.10.2020 64. Texool Spinners Clothing, Sand 10 dumpers 09.10.2020 65. IFGL Refractories Ltd., Sand 6000 CET 09.10.2020 66. SuhaviPharma, Sand 1 truck load 16.10.2020 67. Babu International Sand 7 dumpers 26.10.2020 68. Rama Clinders Pvt. Ltd. Sand 25 MT 28.10.2020 69. Brews Barron LLP Sand 90 MT 28.10.2020 The Board, after deliberations, decided to ratify the approval granted by the Development Commissioner under DoC's Instruction dated 18.05.2020 for procurement of restricted item viz. sand, soil etc. subject to the condition that it should be ensured that the allowed items are actually used in the SEZs and all the environmental and other relevant regulations are complied with. (d) Ratification of action taken by DC, GIFT SEZ, Gandhinagar in allowing procurement of restricted item viz. soil from DTA. The proposal of DC, GIFT SEZ for ratification of approval granted by the DC office to M/s GIFT SEZ Ltd. for procurement of 50,000 MTS soil for landscaping, land filling and other infrastructure work was placed before the BoA: The Board, after deliberations, decided to ratify the approval granted by the Development Commissioner under DoC's Instruction dated 18.05.2020 for procurement of sand and soil subject to the condition that it should be ensured that the allowed items are actually used in the SEZs and all the environmental and other relevant regulations are complied with. 101.5 Miscellaneous proposals (four proposals) 101.5(i) No item was listed under Agenda item 101.5(i) inadvertently. 101.5(ii) Request of M/s Brandix India Apparel City Pvt. Ltd., at Achuthapuram Mandal, Visakhapatnam, Andhra Pradesh for permission for Chain-link fencing. The Board, after deliberations, decided to defer the proposal and directed DC, VSEZ to get the following details: (i) Sanctity of maintenance of bonded area through chain fencing. (ii) Since rationale given was plan to go for de-notification again, the likely timeline to seek such de-notification. 101.5(iii) Proposal of Adani International Container Terminal Private Limited (AICTPL) for the surrender of co-developer status and merger of the entity with the existing unit. The Board, after deliberations, decided to defer the proposal and directed DC, APSEZ to re-examine the proposal in respect of the Direct and Indirect Tax entitlements of the merged entity as well as the NFE implications of the proposed merger. 101.5(iv) Request of M/s ACE SEZ Developers Pvt. Ltd., co-developer for M/s Phoenix Tech Zone Pvt. Ltd. IT/ITES SEZ at Sy. No. 115/35, Nanakramguda Village, Serilingampally Mandal, Ranga Reddy District, Telangana for approval for reduction in space of their co-developer. The Board, after deliberations, decided to approve the proposal for reduction in space from 1,39,385 sq. ft. in 14th to 16th Floor, Tower B to 47,010 sq. ft in 16th Floor, Tower B in M/s Phoenix Tech Zone Pvt. Ltd. SEZ in accordance with the amended co-developer agreement dated 06.11.2020 entered into with the developer, subject to compliance with relevant provisions of SEZ Act Rules. 101.5(v) Request of M/s Squarespace SEZ Pvt. Ltd. for M/s Phoenix Tech zone Pvt. Ltd. IT/ITES SEZ at Sy. No. 115/35, Nanakramguda Village, Serilingampally Mandal, Ranga Reddy District, Telangana for approval for increase in space of their co-developer. The Board, after deliberations, decided to approve the proposal for increase in space from 24,306 sq. ft. in 11th floor, Tower B to 92, 375 sq. ft. in 14th and 15th Floors, Tower B in M/s Phoenix Tech Zone Pvt. Ltd SEZ in accordance with the amended co-developer agreement dated 06.11.2020 entered into with the developer, subject to compliance with relevant provisions of SEZ Act Rules. 101.6 Appeals (six cases) 101.6(i) Appeal of Sh. Gordhan Das Maheshwari (partner of M/s. G. K. Jewellers) against the decision of the UAC, Noida Special Economic Zone meeting held on 14.09.2020 declining renewal of LoA and the Exit from SEZ Scheme. The Board heard the appellant. The appellant informed the Board that due to domestic problems they could not pay attention towards their export business. The Board observed as follows: No evidence of any substantial investment has been made by the appellant since the grant of LoA in 2011. Only a single export of ₹ 0.80 lacs (2015-16) was made during entire five year block period from 2015-2020. The submissions of the unit have failed to substantiate their claims for a Credible business plan for export performance and compliance of NFE obligation. There is no employee strength with the appellant to operationalize their unit. Further, JDC, NSEZ informed the Board that the SEZ developer i.e. RIICO had also recommended cancellation of LoA of the unit. The Board, after deliberations, decided to reject the appeal. 101.6(ii) Appeal of M/s. Punam Jewels Beads Inc. against the decision of the UAC, Noida Special Economic Zone meeting held on 14.09.2020 declining renewal of LoA and the Exit from SEZ Scheme. The Board heard the appellant and took note of the submissions made by the unit which are essentially that : i) An investment of around ₹ 17 lacs has been made by the appellant which mainly comprise of the building (i.e. ₹ 15 lacs) and rest for plant and machinery (₹ 2 lacs). ii) An export of ₹ 1 lac has been done by the unit during the entire period which too was rejected on quality parameters and that they have been working towards improving their quality and designs. The Board after hearing the submissions found that The meagre investment especially in plant and machinery clearly shows a lack of business plan. The submissions of the unit failed to substantiate its claim of working to get export orders and action plan for compliance of NFE obligation. No employees are on the unit's rolls. Further, JDC, NSEZ informed the Board that the SEZ developer i.e. RIICO had also recommended cancellation of LoA of the unit. The Board, after deliberations, decided to reject the appeal. 101.6(iii) Appeal of M/s. N.K.M. Jewels against the decision of the UAC, Noida Special Economic Zone meeting held on 14.09.2020 declining renewal of LoA and the Exit from SEZ Scheme. The Board heard the appellant and took note of the submissions made by the unit. The Board observed as follows: A meagre investment of around ₹ 16 lacs has been made by the appellant which mainly comprise of the building (i.e. ₹ 13 lacs) and on plant and machinery (₹ 3 lacs). No exports were done during the entire period of five years. The submissions of the appellant failed to substantiate their claims for a credible business plan for export performance and compliance of NFE obligation. Further, they do not have any manpower on their rolls since past few years which indicates a total lack of any commitment to do business. Further, JDC, NSEZ informed the Board that the SEZ developer i.e. RIICO had also recommended cancellation of LoA of the unit. The Board, after deliberations, decided to reject the appeal. 101.6(iv) Appeal of M/s. Sh. Suresh Narayan Sarraf (proprietor of M/s. Balaji Silver Crafts) against the decision of the UAC, Noida Special Economic Zone meeting held on 14.09.2020 declining renewal of LoA and the Exit from SEZ Scheme. The Board heard the appellant. The appellant informed the Board that due to domestic problems they could not pay attention towards their export business. The Board observed as follows: A meagre investment of around ₹ 13 lacs has been made by the appellant which mainly comprises of the building. The unit claims to have made 2-3 lakh rupees export orally but has not submitted any document substantiating this claim. The meagre investments and exports (claimed to have been made but not substantiated) made in the last twelve years do not give confidence. Infact the Unit had been given additional annual approval window to help them build on their business and export but nothing seems to have been done. Further, JDC, NSEZ informed the Board that the SEZ developer i.e. RIICO had also recommended cancellation of LOA of the unit. The Board, after deliberations, decided to reject the appeal. 101.6(v) Appeal of M/s. Bairaj International against the decision of the UAC, Noida Special Economic Zone meeting held on 12.10.2020 declining renewal of LoA and directed completion of exit formalities from SEZ Scheme. The Board heard the appellant. The appellant claimed an investment of 79 lacs (capital expenditure) including 9 lacs on plant and machinery, an export of ₹ 0.77 lacs in the first block of five years and 1.72 lacs in the second block of five years. The appellant also submitted a purchase order of US$ 23125. The Board, after deliberations, decided to remand the case back to UAC for verification of their claim of substantial investment made, past export performance as well as availability of export orders and re-consideration of their proposal for renewal. 101.6(vi) Appeal filed by M/s Ionique Research Ltd., unit located at Noida SEZ, Gautam Budh Nagar, Uttar Pradesh against decision of the UAC conveyed vide letter dated 19.10.2020 thereby directing cancellation of LoA and completion of exit formalities. The Board heard the appellant. The appellant informed the Board that a significant investment has been made by the unit including land and machinery amounting to approx. ₹ 100 crore. The unit has undertaken a major change in their business plan in December, 2018 after RBI had found their earlier business plan as not permissible. Further, they have also undertaken to pay the outstanding lease rental dues in a time bound manner. The Board, after deliberations, decided to remand the case back to UAC for re-consideration after examining the credibility of the new business plan of the unit. Decision on Supplementary Agenda 101.7 Request for extension of LoA beyond 3rd year onwards (one proposal) 101.7(i) Request of M/s Rusan Pharma Ltd. in Indore SEZ for extension of Letter of Approval beyond 01.12.2020 for one year up to 01.12.2021. The Board, after deliberations, approved extension of validity of LoA for a period of one year, i.e. up to 01.12.2021. 101.8 Cancellation of co-developer status (one proposal) 101.8(i) Application of M/s Embassy Services Private Limited ( ESPY ), the Co-developer in Manyata SEZ, Bangalore for surrender of their co-developer status and to hand over the authorised operations to the Developer, M/s Manyata Promotors Private Limited ( Manyata ), Outer Ring Road, Rachenahalli Village, Nagavara, Bangalore. The Board, after deliberations, decided to approve the proposal for surrender of their co-developer status and to hand over the authorised operations to the Developer, M/s Manyata Promotors Private Limited ( Manyata ), Outer Ring Road, Rachenahalli Village, Nagavara, Bangalore. 101.9 Proposal for setting up of FTWZ (two proposals for in-principle approval) 101.9(i) Request of M/s. NDR Infrastructure Private Limited for In-Principle Approval for setting up of an FTWZ at Karjat, Raigad, Maharashtra over an area of 50.98 ha. The Board, after deliberations, decided to accord in-principle approval for the proposal. 101.9(ii) Request of M/s. Karanja Terminal Logistics Pvt. Ltd. for In-Principle Approval for setting up of an FTWZ at Village - Change, Taluka - Uran, District - Raigad, Maharashtra over an area of 50ha. The Board, after deliberations, decided to accord in-principle approval for the proposal. **** ANNEXURE - 1 List of Participants for the Meeting of the Board of Approval for Special Economic Zones held on 27th November, 2020 under the Chairmanship of Commerce Secretary, Department of Commerce. 1. Shri Anup Wadhawan, Commerce Secretary, Department of Commerce 2. Shri S. Kishore, Additional Secretary, Department of Commerce 3. Shri Amit Yadav, Director General, DGFT 4. Shri Amitabh Kumar, Joint Secretary, Department of Commerce 5. Shri Senthil Nathan S, Deputy Secretary, Department of Commerce. List of participants connected with Video Conferencing. 1. Dr. Amiya Chandra, Development Commissioner, KASEZ/ Adani Port SEZ, Mundra 2. Shri D.V. Swamy, Development Commissioner, CSEZ 3. Shri A. Rama Mohan Reddy, Development Commissioner, Visakhapatnam SEZ. 4. Shri R. Muthuraj, Development Commissioner, Sri City SEZ 5. Shri Anil Kumar Choudhary, Development Commissioner, Dahej SEZ 6. Shri Virendra Singh, Development Commissioner, Surat SEZ, Gujarat 7. Shri D. Anandan, Joint Development Commissioner, Madras SEZ 8. Shri C.P.S. Chauhan, Joint Development Commissioner, SEEPZ- SEZ 9. Shri Ram Chander Sankhla, Pr. ADG, DGEP/CBIC. 10. Shri G. Panmei, Deputy Legislative Council, D/o Legislative Department, Shastri Bhawan.