Minutes of the 102nd meeting of the Board of Approval for SEZ held on 6th January, 2021 to consider setting up of Special Economic Zones and other miscellaneous proposals - SEZ - Minutes of the 102nd meeting of the SEZ

Minutes of the 102nd meeting of the Board of Approval for SEZs held on 6th January, 2021 The One Hundred Second (102nd) meeting of the Board of Approval (BoA) for Special Economic Zones (SEZs) was held on 6th January, 2021 under the chairmanship of Shri Anup Wadhawan, Secretary, Department of Commerce, at 11.30 A.M. in Room No. 141, Udyog Bhawan, New Delhi. The list of participants is annexed ( Annexure-I ). Item No. 102.1: Confirmation of minutes of the meeting of the 101st BoA held on 27 th November, 2020. The Board ratified the minutes of the 101st meeting of the BoA held on 27th November, 2020. 102.2 Request for extension of LoA beyond 3r year onwards (two proposals) 102.2(i) Request of M/s. Algolog Systems Pvt. Ltd. in Ansal IT City Parks Ltd., IT/ITES SEZ at Plot No. TZ-06, Tech zone, Greater Noida (U.P.) for extension of Letter of Approval (LOA) for a further period of one year i.e. upto 25.10.2021. The Board, after deliberations, approved extension of the validity of the LoA up to 25th October, 2021. 102.2(ii) Request of M/s. Ganesh International Financial Services (IFSC) Pvt. Ltd., for 3rd extension of the validity 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 the validity of the LoA up to 8th February, 2021. 102.3 Proposal for change in shareholding pattern/ name/change of control/merger (five proposals) 102.3 (i) Request of M/s Cessna Garden Developers Pvt Ltd., Developer of an IT/ITES SEZ located at Kadubeesanhalli Village, Varthur Hobli, Marathahalli-Sarjapura Outer Ring Road, Bangalore for change of shareholding pattern and change of directors. The Board, after deliberations, approved the proposal for change of shareholding pattern and change of directors subject to approval by relevant statutory body 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. 102.3(ii) Proposal of demerger of M/s Phoenix Infocity Pvt. Ltd. (PIPL) (demerged company) developer of IT at Sy. No. 30(P), 34(P), 35(P) 38(P), Gachibowli Village, Serilingampally Mandal, Ranga Reddy District, Telangana as per the Scheme of Arrangement. The Board, after deliberations, approved the proposal of the developer for the de-merger 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. 102.3(iii) Request of M/s. Ace SEZ Developers Pvt. Ltd, Co-Developer in M/s. Phoenix Tech Zone Pvt. Ltd, IT/ITES SEZ at Sy. No. 115/35, Nanakramguda Village, Serilingampally Mandal, Ranga Reddy District, Telangana for transfer of ownership of their Co-Developer company. The Board, after deliberations, approved the proposal for transfer of ownership of their Co-Developer company subject to approval by relevant statutory body 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. 102.3(iv) Request of M/s. Spacetech SEZ Developers Pvt. Ltd, Co-Developer in M/s. Phoenix Tech Zone Pvt. Ltd, IT/ITES SEZ at Sy. No. 115/35, Nanakramguda Village, Serilingampally Mandal, Ranga Reddy District, Telangana for transfer of ownership of their Co-Developer company. The Board, after deliberations, approved the proposal for transfer of ownership of their Co-Developer company subject to approval by relevant statutory body 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. 102.3(v) Request of M/s. Phoenix IT Infrastructure India Pvt. Ltd, Co-Developer in M/s. Phoenix Infocity Pvt. Ltd, IT/ITES SEZ at Sy. No. Gachibowli Village, Serilingampally Mandal, Ranga Reddy District, Telangana for transfer of ownership of their Co-Developer company. The Board, after deliberations, approved the proposal for transfer of ownership of their Co-Developer company subject to approval by relevant statutory body 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. Item No.102.4 Requests for co-developer (four proposals) 102.4(i) Request of M/s. Nori Estates LLP for co-developer status in M/s. GAR Corporation Pvt. Ltd SEZ at Sy. No. 89 (P), Kokapet Village, Gandipet Mandal, Ranga Reddy District, Telangana for development, operation and maintenance of the SEZ and other activities. The Board, after deliberations, approved the proposal of M/s. Nori Estates LLP for investment in the development of internal and external infrastructure, operation and maintenance in an area of 29,550 sq. ft. in part of 2nd Floor in Tower-9 in the SEZ in accordance with the codeveloper agreement dated 23.10.2020 entered into with the developer, subject to compliance with relevant provisions of SEZ Act Rules. The lease period, wherever applicable, shall be in accordance with DoC's Instruction no. 98 dated 29.08.2019. 102.4(ii) Application of M/s Gujarat State Petronet Limited (GSPL) for Co-developer status for providing Natural Gas infrastructure within Kandla SEZ. The Board, after deliberations, approved the proposal of M/s. Gujarat State Petronet Limited (GSPL) for providing Natural Gas infrastructure within KASEZ subject to execution of necessary co-developer agreement with the co-developer and compliance with relevant provisions of SEZ Act and Rules. The lease period, wherever applicable, shall be in accordance with DoC's Instruction no. 98 dated 29.08.2019. 102.4(iii) Request of M/s. Fulcrum Worldwide Software Pvt. Ltd. an IT/ITES Unit for codeveloper status in MIDC-IT/ITES SEZ, Rajiv Gandhi Infotech Park, Hinjewadi, Phase-III, Pune 411057 for the purpose of construction of all type of buildings in processing area, operation and maintenance of infrastructure and leasing of floors to SEZ units. The Board noted that DC, SEEPZ informed about the request of the Unit for the withdrawal of instant proposal. The Board, after deliberations, allowed the unit to withdraw the proposal. 102.4(iv) Request of M/s. Wegmans Trustone Properties LLP for Co-developer status in the IT/ITES SEZ of M/s. Artha Infratech Pvt. Ltd. located at Plot No. 21, Sector-Techzone IV, Greater Noida (Uttar Pradesh). The Board, after deliberations, approved the proposal of M/s. Wegmans Trustone Properties LLP for co-developer status for conversion from warm shell to total ready to move in infrastructure to be leased out to various SEZ units for export including maintaining and managing facility management [Two floors (7th 8th floor) of Tower No.1 of approx. 64,820 Sqft. Super area in the Processing area of IT/ITES SEZ] in accordance with the co-developer agreement dated 11.11.2020 entered into with the developer, subject to compliance with relevant provisions of SEZ Act Rules. The lease period, wherever applicable, shall be in accordance with DoC's Instruction no. 98 dated 29.08.2019. 102.5 Request for increase/decrease in area of developer or co-developer (three proposals) 102.5(i) Request of M/s CCL Products (India) Ltd., a sector specific SEZ for Agro Based Food Processing at Kuvvakolli Village, Varadaiahpalem Mandal, Chitoor District, Andhra Pradesh for increase in area of 1.895 Ha. The Board, after deliberations, approved the request of M/s CCL Products (India) Ltd. for increase in an area of 1.895 hectares, subject to contiguity of the land in the SEZ being maintained and compliance with relevant provisions of SEZ Act and Rules. 102.5(ii) Request of M/s. Phoenix SEZ Spaces 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 change in space (decrease) of their Co-Developer. The Board, after deliberations, approved the proposal of M/s. Phoenix SEZ Spaces Pvt. Ltd., for decrease in co-developer area from 7,30,000 sq. ft. in Tower-B to 24,306 sq. ft. in 11th Floor, Tower-B in M/s. Phoenix Tech Zone Pvt. Ltd. SEZ in accordance with the revised Co-Developer Agreement dated 06.11.2020 to upgrade, operate and maintain the constructed area of 24,306 sq.ft. in 11th Floor in Tower-B forming part of the SEZ project, subject to compliance with relevant provisions of SEZ Act and Rules. 102.5(iii) Application of M/s ATS Savvy Developers LLP, Co-Developer in GIFT Multi Services SEZ for reduction in approved FTWZ area on the ground floor of 'Pragya' building. The Board, after deliberations, approved the proposal of M/s. ATS Savvy Developers LLP., co-developer for reduction in approved FTWZ area from 1337.5 sq. m. to 877.5 sq. m. on the ground floor of 'Pragya' building, in order to accommodate the specific requirements of the approved SEZ units viz. M/S. BA Continuum India Private Limited (Unit-I 2). The same shall be subject to compliance with relevant provisions of SEZ Act and Rules. 102.6 Proposals for procurement of restricted items viz. sand, soil etc. (three proposals) 102.6(i) Requests for procurement of Sand by Developers in SEZs in Telangana. The proposal of DC, VSEZ regarding procurement of following items was placed before the Board of Approval: Sl. No. Name of the Developer/Co-Developer/Unit Name of the Item Quantity Value (in Rs.) 1 M/s. Phoenix Spaces Pvt. Ltd, Developer, IT/ITES SEZ at Sy. No. 285, Puppalgu illage, Rajendra Nagar Mandal, Ranga Redd District, Telangana Crushed Sand 20,000 MT 1,09,20,000/- 2. M/s. Phoenix Spaces Pvt. Ltd, Developer, IT/ITES SEZ at Sy. No. 286 287, Puppalguda Village, Rajendra Nagar Mandal, Ranga Redd District, Telangana. Crushed Sand 692.50 MT 6,57,875/- 3. M/s. Phoenix IT City Pvt. Ltd, Developer IT/ITES SEZ at Sy. No. 53/paiki/part, Gachibowli Village, Serilingampally Mandal, Ranga Reddy District, Telangana. Robo Sand 3500 MT 2,10,000/- The Board, after deliberations, decided to approve the proposal i.r.o. listed developers in light of DoC's instruction dated 18.05.2020 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. 102.6(ii) Proposals received from DC, KASEZ for ratification of permission for procurement of restricted items viz. sand and soil for construction activities from DTA. The proposal of DC, KASEZ for ratification of approval granted by the DC office for procurement of following items was placed before the BoA: Sl. No. Unit/developer Item with HS Code Quantity Date of Approval granted by DC as per power delegation by DoC 1. H. V. Impex Pvt. Ltd., Khokhra, Ahmedabad at Ahmedabad Apparel Park Sand 25051020 700MT 27.10.2020 2 M/s Mallcom Safety Pvt. Ltd. at Ahmedabad Apparel Park Filling Sand 25251020 662 CMT 20.10.2020 Murram 25059000 5000CMT Sand 25051020 54154CMT Filtered Sand 25051020 18628CMT 3. Spyram Technology Pvt.Ltd. at Electronic Park SEZ, Gandhinagar River Sand 5051020 1000MT 14.10.2020 4. M/s. Caterpillar Signs Pvt. Ltd. at Electronics Park SEZ, Gandhinagar Filtered Sand 25051020 4000 Tonnes 14.10.2020 Simple Sand 25051020 4000 Tonnes Black Soil 25059000 4000 Tonnes Yellow Soil 25059000 3000 Tonnes 5. Accumax Lab devices Pvt. Ltd. at Electronics Park SEZ, Gandhinagar Sand 25051020 10000 Ton 10.11.2020 Soil 25059000 5000 Ton Murram 25059000 5000 Ton 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 items 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. 102.6(iii) Proposal of M/s Tatva Chintan Pharma Chem Pvt. Ltd. for the procurement of restricted items for SEZ Infrastructure development repairing facility in terms of Rule 27 of SEZ Rules, 2006. The proposal of DC, Dahej SEZ for ratification of approval granted by the DC office for procurement of following items to the unit was placed before the BoA: Description Estimated Quantity Stones Aggregates 980 MT SAND 820 MT Quarry Spall (Yellow Stone) 315 MT GSB Material (Small Stones mixing with Dust- Use for filling base to make road) 215 MT Metal (Black Medium Size Stone) 160 MT Bricks 81900 Nos 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. 102.7 Miscellaneous cases (five proposals) 102.7(i) 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 for further examination and site visit by DC, VSEZ along with Custom officials. After receiving the report from DC, VSEZ, the proposal may be considered on file/placed before BoA for decision. 102.7(ii) Request of M/s. Embassy Services Pvt. Ltd., Co-developer in Embassy Office Parks Pvt. Ltd. SEZ, for surrender of their Co-developer Status and hand over the authorized operations to Developer consequent to transfer of business to Embassy Office Parks Pvt. Ltd. The Board, after deliberations, decided to approve the proposal for surrender of their Co-developer status and hand over the authorized operations to Developer consequent to transfer of business to Embassy Office Parks Pvt. Ltd. subject to compliance of SEZ Act/Rules. The approval shall be 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 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. 102.7(iii) Proposal of plastic recycling and worn and used clothing units in Kandla, Falta and Noida SEZs for renewal of their Letter of Approval. The Board noted that the draft roadmap/policy framework for SEZ units engaged in recycling of plastic and worn and used cloth has been circulated to the stakeholder Ministry/Department(s) viz. Department of Revenue, M/o Environment, Forest and Climate Change, Ministry of Textiles for their comments by the Department of Commerce (DoC) on 21.12.2020. DoC is yet to receive inputs from all stakeholders. The Board, after deliberations, decided to grant an extension of LoA to the 47 existing plastic recycling and worn and used clothing units in SEZs viz. NSEZ, FSEZ and KASEZ in terms of Rule 18(4) of the SEZ Rules, 2006 for a further period of six months upto 30.06.2021 subject to clearance of all government dues including penalties and rents by the unit. The aforesaid extension shall also subject to the notification of amendments in relevant rules by Ministry of Environment, Forests Climate Change (MoEFCC) and the subsequent finalisation of policy by the Department of Commerce (DoC) in this regard. All the concerned Development Commissioners should ensure that the unit fulfil all other criteria and there is no violation of SEZ Act/Rules. 102.7 (iv) Proposal of M/s R. R. Vibrant Polymers Ltd. for renewal of LoA for next five years in terms of Rule 18(4) of SEZ Rules'06. The Board, after deliberations, decided to defer the case and directed DC, KASEZ to further take up the matter with unit for payment of due penalty. Thereafter, the proposal may be furnished to BoA for extension after satisfying that the unit fulfills all other criteria. 102.7(v) Application of M/s. Arshiya Northern FTWZ Ltd. for change of sector of its Free Trade Warehousing Zone at Village Ibrahimpur, Junaidpur Urf Maujpur, Bulandshar (U.P.) into 'Multi Sector SEZ in terms of SEZ Rules amendment Notification dated 17.12.2019. The Board, after deliberations, deferred the case to enable DOR to enable it to examine and convey its comments on the proposal of the unit seeking change of sector under Rule 6A of SEZ Rules, 2006. 102.8 Appeal (one appeal) 102.8(i) Appeal against the decision of the Unit Approval Committee meeting held on 14.09.2020 in respect of JSEZ- Sitapura, Jaipur regarding the non renewal of LoA of the unit and direction for completion of exit formalities. The Board noted that the appeal is time barred as per Rule 56 of the SEZ Rules, 2006. However, the Board decided to condone the delay and consider the case on merits. Accordingly, the Board heard the appellant. The appellant submitted that they had started their business in 2011 and made an investment of around ₹ 30 lakhs on building, infrastructure viz. RCC hall etc. As regards turnover, the appellant informed the Board that in past nine years there has been almost no turnover/export. The appellant further informed the Board that they have orders of value of ₹ 4 lacs in hand. The Board observed as follows: The dismal past performance of the unit in terms of exports as well as the reasons attributed by the unit for the same were not credible. The meagre investment made in the last nine years further highlighted the total lack of a business plan to operationalize the unit. The submissions made by the unit failed to substantiate its claim of working to get export orders. The unit did not convince the Board of a promising action plan for compliance of NFE obligation as required in terms of Rule 53 of the SEZ Rules, 2006. No export has been done by the unit since inception. The Board, after deliberations, therefore decided to reject the appeal. Decision on Supplementary Agenda 102.9 Proposal for change of shareholding pattern/ merger/de-merger (four proposals) 102.9(i) Request of M/s Aspen Infra Padubidri Private Limited., Developer for change of shareholding pattern and change of Board of Directors. The Board, after deliberations, approved the proposal of the developer for change of shareholding pattern and change of Board of Directors. As per DC, CSEZ, the developer has intimated about 100% transfer of shares to M/s Ind-lnfra Developers Pvt. Ltd. (formerly known as M/s Atulya Renewables Pvt. Ltd.). The developer has also intimated about the transfer of 100% shares of M/s Ind-lnfra Developers Pvt. Ltd. to M/s Ajanta Manufacturing Pvt. Ltd., Shri Jayasukhbhai Odhavijibhai Bhalodia and Shri Chintan Jayasukhbhai Bhalodia. Post transfer of its shares, the Board of Directors of M/s Aspen Infra Padubidri Pvt. Ltd. is as follows: 1. Chintan Jayasukhbhai Bhalodia 2. Manoj Kumar Hasmukhbhai Modi M/s Aspen Infra Padubidri Pvt. Ltd. will continue to be the developer of the SEZ. The approval shall be subject to approval by relevant statutory body 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. 102.9(ii) Request of M/s Aspen Park Infra Coimbatore Pvt. Ltd., Developer for change of shareholding pattern and change of Board of Directors. The Board, after deliberations, approved the proposal of the developer for change of shareholding pattern and change of Board of Directors subject to approval by relevant statutory body 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. 102.9(iii) Request of M/s Divyasree NSL Infrastructure Pvt. Ltd. for demerger of 'Orion-II Undertaking' forming part of their SEZ to Ms. Midas Projects Pvt. Ltd. The Board, after deliberations, approved the proposal for demerger of 'Orion-II Undertaking' forming part of the SEZ to Ms. Midas Projects Pvt. Ltd., co-developer 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. 102.9(iv) Request of M/s Bayline Infocity Limited (Developer) for change of shareholding pattern and appointment of new Directors of the developer. DC, MEPZ informed the Board about the application filed by the individual investors before the NCLT, Chennai Bench wherein M/S Bayline Infocity Limited has been arrayed as a respondent. The Board, after deliberations, decided to defer the proposal. 102.10 Setting up of SEZ (one proposal) 102.10(i) Proposal of M/s. Sustain Properties Private Limited for setting up an IT/ITES SEZ over an area of 1.466 hectares at Plot No. 16/A/1 (P) and 16/A/2 (P), Sy No. 83/1, Knowledge City, Raidurg Village, Serilingampally Mandal, Ranga Reddy District, Telangana. The Board, after deliberations, approved the proposal for setting up of a sector specific Special Economic Zone for IT/ITES at Plot No. 16/A/1 (P) and 16/A/2 (P), Sy No. 83/1, Knowledge City, Raidurg Village, Serilingampally Mandal, Ranga Reddy District, Telangana over an area of 1.466 Ha subject to the condition that no duty benefits shall be provided for the already constructed structure and the developer will not be eligible for any duty benefits till the date of notification of the SEZ. 102.11 Appeals (Nine appeals) 102.11(i) Appeal dated 24.12.2020 filed by M/s Optum Global Solutions (India) Private Limited located at 5th, 6th, 8th, 9th floor, Block A, 4th Floor, Block B, 14th Floor. Block C, building No. 6, IT/ITES SEZ of DLF cyber City Developers Ltd., Sector-24 25A, DLF Phase-III, Gurgaon, Haryana against the decision of the UAC, NSEZ in its meeting dated 26.08.2020. 102.11(ii) Appeal dated 24.12.2020 filed by M/s Optum Global Solutions (India) Private Limited located at 4th 5th Floor of Block 2 of Phase-I IT/ITES SEZ of M/s ITPG Developers Private Limited, Village Behrampur, Gurgaon, Haryana against the decision of the UAC, NSEZ in its meeting dated 26.08.2020. 102.11(iii) Appeal dated 24.12.2020 filed by M/s Optum Global Solutions (India) Private Limited located at Ground to 3rd Floor 6th to 9th Floor of Block 2 of Phase-I and Ground Floor in Block 1 of Phase I, IT/ITES SEZ of M/s ITPG Developers Private Limited, Village Behrampur, Gurgaon, Haryana against the decision of the UAC, NSEZ in its meeting dated 26.08.2020. 102.11(iv) Appeal dated 24.12.2020 filed by M/s Optum Global Solutions (India) Private Limited located at ground to 4th Floor, Tower D, Oxygen Business Park Pvt. Ltd., IT/ITES SEZ, Plot no. 7, Sector -144, Noida, UP against decision of the UAC, NSEZ in its meeting dated 26.08.2020 conveyed vide letter dated 09.09.2020. 102.11(v) Appeal dated 24.12.2020 filed by M/s Optum Global Solutions (India) Private Limited located at 6th 7th Floor, Tower A, Oxygen Business Park Pvt. Ltd., IT/ITES SEZ, Plot no. 7, Sector -144, Noida UP against decision of the UAC, NSEZ in its meeting dated 26.08.2020 conveyed vide letter dated 09.09.2020. 102.11 (vi) Appeal dated 29.12.2020 filed by M/s Optum Global Solutions (India) Private Limited located at Phoenix Infocity Private Limited, SEZ Building no.H06, 1st, 2nd and 3rd Floor, Hitech City 2, Gachibowli V, Hyderabad, Telangana against decision of UAC, VSEZ in its meeting dated 17.06.2020. 102.11(vii) Appeal dated 29.12.2020 filed by M/s Optum Global Solutions (India) Private Limited located at 5th, 6 th 7th Office level, Building no.14, Sundew Properties Ltd., APIIC Layout, Survey no. 64 Part, Hitech City, Madhapur, Hyderabad, Telangana against decision of UAC, VSEZ in its meeting dated 17.06.2020. 102.11(viii) Appeal dated 29.12.2020 filed by M/s Optum Global Solutions (India) Private Limited located at Phoenix Infocity Private Limited, 7th 8th level SEZ Building no.H04, Vignesh Hitech City 2 Society, Sy. No. 30, 34, 35 38, Gachibowli V, Serilingampally M, Hyderabad, Telangana against decision of UAC, VSEZ in its meeting dated 17.06.2020. 102.11(ix) Appeal dated 29.12.2020 filed by M/s Optum Global Solutions (India) Private Limited located at 9th, 10th, 11th 12th Floor, Building No. 12 B, Sundew Properties Limited, APIIC Layout, Survey no. 64 P, Hitech City, Madhapur, Hyderabad, Telangana against decision of the UAC, VSEZ in its meeting dated 17.06.2020. The Board noted that all the above nine appeals were filed by a single company i.e. M/s Optum Global Solutions (India) Pvt. Ltd. i.r.o. their units located at Noida, Gurgaon and Hyderabad and pertain to the same issue. It was further noted that the appeal is time barred as per Rule 56 of the SEZ Rules, 2006. However, it was decided that the case may be considered on merits. Accordingly, the Board heard the appellant/representatives of the company. The Appellant informed that the appeal was necessitated as no reasons were assigned for rejection of their request by the Unit Approval Committees. The Board, after deliberations, decided to remand the cases back to the concerned UACs i.e. UAC, NSEZ and UAC, VSEZ to reconsider the case on merit after giving necessary hearing opportunity to the unit and issue a speaking order. ****** ANNEXURE - I List of participants for the Meeting of the Board of Approval for Special Economic Zones held on 6th January, 2021 under the Chairmanship of Commerce Secretary, Department of Commerce. 1. Shri Anup Wadhawan, Chairman, BoA Commerce Secretary, Department of Commerce 2. Shri S. Kishore, Additional Secretary, Department of Commerce. 3. Shri Amit Yadav, DG, DGFT 4. Shri Amitabh Kumar, Joint Secretary, Department of Commerce. 5. Shri A. Bipin Menon, Development Commissioner, Noida SEZ. 6. Shri Senthil Nathan S, Director, Department of Commerce. List of participants connected with Video Conferencing. 1. Shri Ram Chancier Sankhla, Pr. ADG, DGEP/CBIC. 2. Shri Saroj K. Behera, Additional Director, DGEP. 3. Dr. Amiya Chandra, Development Commissioner, KASEZ/ Adani Port SEZ, Mundra. 4. Shri Shanmuga Sundaram, Development Commissioner, MEPZ. 5. Shri D.V. Swamy, Development Commissioner, CSEZ. 6. Shri A. Rama Mohan Reddy, Development Commissioner, Visakhapatnam SEZ. 7. Shri D. Anandan, Development Commissioner, Sri City SEZ. 8. Shri B. K. Panda, Development Commissioner, Falta SEZ. 9. Shri R. Muthuraj, Development Commissioner, GIFT Dahej SEZ. 10. Shri Virendra Singh, Development Commissioner, Surat SEZ, Gujarat. 11. Dr. S. K. Bansal, Development Commissioner, SEEPZ SEZ. 12. Shri C.P.S. Chauhan, Joint Development Commissioner, SEEPZ- SEZ. 13. Shri Lal Chand Dabaria, Assistant Legal Adviser, Department of Legal Affairs. 14. Shri Bahadur Singh, Assistant Legislative Counsel, Legislative Department, Shastri Bhawan. 15. Ms. B.K. Sethi, Under Secretary, DPIIT. 16. Representative of Government of Haryana.