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TMI BlogMinutes of the 54th meeting of the SEZ Board of Approval held on 14th September 2012 to consider proposals for setting up Special Economic Zones and other miscellaneous proposalsX X X X Extracts X X X X X X X X Extracts X X X X ..... 0,243 persons has been generated in the SEZs. During the financial year 2011-12, total exports to the tune of Rs. 3,64,477.73 crores have been made from the SEZs, registering a growth of about 15.39% over the exports for the year 2010-11. Exports in the current financial year for the first quarter i.e. up to 30.06.2012, have been to the tune of Rs. 1,18,321.56 crores registering a growth of about 64% over the exports of the corresponding period of FY 2011-12. Item No. 54.1: Proposals for setting up of SEZs. (i) Proposal of M/s. Cybercity Builders Developers Private Limited, for setting up of a sector specific Special Economic Zone for IT/ITES at Balanagar Mandal, Kukatpally Municipality, Greater Hyderabad Municipal Corporation, Andhra Pradesh, over an area of 10.12 hectares. The proposal was withdrawn by the developer. Item No.54.2: Requests for co-developer All BoA sanctioned approvals to co-developers are subject to the condition that particular terms and conditions of lease agreement/co-developer agreement will not have any bearing on the treatment of the income by way of lease rentals/down payment/premium etc., for the purposes of assessment under the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Computer Services Limited, a co-developer in the sector specific SEZ for IT/ITES at Kancheepuram, Chennai, Tamil Nadu, being developed by Electronic Corporation of Tamil Nadu Limited (ELCOT) The Board observed that such activities are not permitted in the processing area. The Board, therefore, rejected the request of the co-developer. (iii) Request of M/s. G.P. Realtors Private Limited for authorized operations in sector specific SEZ for IT/ITES at village Behrampur, District Gurgaon, Haryana (iv) Request of M/s. G.P. Realtors Private Limited for authorized operations in sector specific SEZ for IT/ITES and Electronic Hardware at village Behrampur, Balola and Bandhwari, District Gurgaon, Haryana DC, NSEZ informed that Board that the developer has yet to start development of the processing area of the SEZs. The Board observed that the requests for authorized operations are pre-mature and accordingly, the proposals were deferred . Item No. 54.4: Request for increase/decrease in area (i) Request of Andhra Pradesh Industrial Corporation Limited (APIIC) for denotification of a portion of land in the Multi Product SEZ at Atchutapuram and Rambilli Mandals, Visakhapatn ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t for de-notification of 4.8035 hectares from the SEZ thereby making the total area of the SEZ as 110.4465 hectares. The approval is subject to the contiguity of the SEZ being maintained and the DC furnishing a certificate that the developer has either not availed or has refunded all the tax/duty benefits availed under SEZ Act/Rules in respect of the area to be denotified. Item No. 54.5: Request for withdrawal of formal approval (i) Withdrawal of formal approval granted to M/s. Pradip Overseas Limited, for setting up of sector specific SEZ for Textile at village Bhamasra, Taluka Bawla, District Ahmedabad, Gujarat The Board decided to approve the request of M/s. Pradip Overseas Limited for withdrawal of formal approval granted to them for setting up of sector specific SEZ for Textile at village Bhamara, Taluka Bawla, District Ahmedabad, Gujrat, over an area of 109.48 hectares. The approval is subject to the contiguity of the SEZ being maintained and the DC furnishing a certificate that the developer has either not availed or has refunded all the tax/duty benefits availed under SEZ Act/Rules. Item No. 54.6: Requests for de-notification (i) Request of M/s. B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pproval, granted for setting up of sector specific SEZ for IT/ITES at villages Behrampur Balola, District Gurgaon, Haryana, beyond 25th July 2012 (beyond 5th year) The Board after deliberations extended the validity of the formal approval up to 25th July, 2013. (ii) Request of M/s. Adityapur Industrial Area Development Authority for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for Automobiles/Auto Components at Adityapur, Jharkhand, beyond 13th June 2012 (beyond 6th year) The Board after deliberations extended the validity of the formal approval for a period of six months beyond 13th June, 2012 (i.e. up to 13th December, 2012). (iii) Request of Kerala Industrial Infrastructure Development Corporation (KINFRA) for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for Electronics Industries at Thrikkakara village, Kanayannur Taluk, Ernakulam District, Kerala beyond 20th August 2012 (beyond 6th year) The Board after deliberations extended the validity of the formal approval up for a period of six months beyond 20th August, 2012 (i.e. up to 20th Februa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of M/s. Foxconn India Developer Private Limited for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for IT/EH at Sriperumbudur, Tamil Nadu, beyond 25th July, 2012 (beyond 5th year) The Board after deliberations extended the validity of the formal approval up to 25th July, 2013. (xi) Request of M/s. Rudradev Township Private Limited for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for IT/ITES at Solankurini village, Madurai Taluk, Madurai District, Tamil Nadu, beyond 25th July, 2012 (beyond 5th year) The Board after deliberations extended the validity of the formal approval up to 25th July, 2013. (xii) Request of M/s. Gopalan Enterprises (India) Private Limited for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for IT/ITES at Mahadevapura Kaggadaspura, K.R. Puram, Whitefield, Bangalore, Karnataka, beyond 2nd July, 2012 (beyond 5th year) The Board after deliberations extended the validity of the formal approval up to 2nd July, 2013. (xiii) Request of M/s. H.N. Company for extension of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eliberations extended the validity of the formal approval up to for a period of six months beyond 5th November, 2012 (i.e. up to 5th May, 2013) Item No.54.9: Delayed requests for extension of validity of formal approvals (i) Request of Kerala State Information Technology Infrastructure Limited (KSITIL) for extension of the validity period of formal approval, granted for setting up of sector specific SEZ for IT/ITES at Cheemeni village in Kasaragod District, Kerala beyond 18th September, 2011 The Board after deliberations extended the validity of the formal approval up to 18th September, 2013. Item No. 54.10: Request of M/s. Chhindwara Plus Developers Limited for extension of the validity of in-principle approval, granted for setting up of Multi Product SEZ at Saurar Tehsil, Chhindwara District, Madhya Pradesh, over an area of 3487.076 Ha, beyond 30th July, 2011. The Board observed that the developer has already acquired 1898 hectares which is more than the minimum land required for a multi-product SEZ. The Board, therefore, sought a report from DC, Indore SEZ on the contiguity of the land so far acquired by the developer, before taking a final decision of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . The above approval is subject to the following conditions: (i) In terms of Section 9 of the SEZ Act, 2005, BoA is the Licensing Authority for setting up of defence units in SEZs. Once a proposal has been approved by the BoA, the licence will be issued by DIPP on receipt of the minutes of BoA. (ii) Exports of such items may be regulated as per the provisions of Foreign Trade Policy and ITC (HS) Code. (iii) The licensing conditions will be finalized in consultation with the DIPP, the Department of Defence Production and the Ministry of Home Affairs. This is because the special conditions incorporated for industrial licenses for the defence sector have been incorporated by DIPP on the recommendations of the Department of Defence Production, which in turn, consulted the Ministry of Home Affairs in the matter. (iv) Each of the consignment of supply to DTA must be thoroughly examined by Development Commissioner. (v) While selling in the domestic area, only Government Agencies would be allowed to procure the equipments. (vi) All consignment will be accompanied by an authorized person of the Government procuring agency. Item No. 54.14: Request of M/s. Sapient ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... EZ at Sholinganallur, Tamil Nadu BoA after deliberation approved all the above requests for shifting its location, subject to condition that the assessing officer under the Income Tax Act, 1961 , shall have the right to assess the taxability arising out of the transfer of the unit. Item No. 54.17: Requests for change of name/transfer of equity (i) Request of M/s. Pune Embassy Projects Private Limited (PEPPL) for changing the share holding pattern of the company The Board after deliberations approved the request of M/s. Pune Embassy Projects Private Limited for changing the share holding pattern of the company as under:- S. No. Name Shareholding percentage 1 Pune Dynasty Projects Private Limited (PDPPL) 100.00% The approval is, however, subject to the following conditions:- (i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered developer entity; (ii) Fulfillment of all eligibility criteria applicable to developers, including security clearances etc., by the altered developer entity and its constituents; (iii) Applicability of and compliance with all ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... constituents; (iii) Applicability of and compliance with all Revenue / Company Affairs /SEBI etc. rules which regulate issues like capital gains, equity change, transfer, taxability etc. (iv) Full financial details relating to the transfer of equity shall be furnished immediately to the Member (IT) CBDT, Department of Revenue. (v) The assessing officer under the Income Tax Act, 1961 , shall have the right to assess the taxability of the amount arising out of the transfer of equity. (vi) The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. Item No. 54.18: Appeals before BoA (i) Appeal of M/s. MAS GMR Aerotechnic Limited, a unit in the sector specific SEZ for Aviation being developed by M/s. GMR Hyderabad Aviation SEZ Limited at Shamshabad Mandal, Ranga Reddy District, Andhra Pradesh against denial of permission to use certain specialized equipment outside SEZ The Board after deliberations allowed the appeal subject to the condition that the tow tractors which may be required to operate outside the SEZ boundary shall be appropriately colour-coded to be easily distinguishable from those from the to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t Tikri, Gurgaon, Haryana (iii) Request of M/s. ASF Insignia SEZ Private Limited for authorized operations in the sector specific SEZ for IT/ITES at Gurgaon, Haryana (iv) Request of M/s. GHI Finlease and Investments Limited for authorized operations in sector specific SEZ for IT/ITES at Bhondsi, Tehsil Sohna, District Gurgaon, Haryana In the above three cases (ii), (iii) and (iv) the Board considered the report of DC NSEZ submitted before it as per its direction in the 53rd meeting. DoR expressed a view that the non-processing area is primarily meant to accommodate infrastructural facilities for supporting the units in the processing area and therefore, there is no apparent justification for IT/ITES office space in the non-processing area of an IT/ITES SEZ as the same is liable to be commercially exploited by entities outside the SEZ. The Board, therefore, deferred the above requests of the developer for authorized operations including construction of IT/ITES office space in the non-processing area. Item No. 54.21: Request of M/s. Torrent Energy Limited for approval for taking out 508 mm dia MS Effluent pipeline from their project site in Dahej SEZ to GIDC dispo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enue / Company Affairs /SEBI etc. rules which regulate issues like capital gains, equity change, transfer, taxability etc. (iv) Full financial details relating to the transfer of equity shall be furnished immediately to the Member (IT) CBDT, Department of Revenue. (v) The assessing officer under the Income Tax Act, 1961 , shall have the right to assess the taxability of the amount arising out of the transfer of equity. (vi) The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. The meeting ended with a vote of thanks to the Chair. ******* Annexure - 1 List of Participants for the Meeting of the Board of Approval for Special Economic Zones held on 14th September, 2012 under the Chairmanship of Commerce Secretary, Department of Commerce 1. Shri S. R. Rao, Chairman BOA Secretary, Department of Commerce. 2. Smt. Ruchira Pant, Director General (DG), Department of Revenue, Ministry of Finance 3. Shri Jitendra Kumar, Additional Director (DGEP), Department of Revenue 4. Ms. Surabhi Sharma, Under Secretary, (ITA 1), CBDT, Department of Revenue, Ministry of Finance 5. Shri A.K. Pujari, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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