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TMI BlogMinutes of the 55th meeting of the SEZ Board of Approval held on 23rd November 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 ..... year, up to 30.09.2012, have been to the tune of Rs. 2,39,628.78 crores registering a growth of about 36% over the exports of the corresponding period of FY 2011-12. 3. At the outset the Chairman flagged the issue of adherence to a schedule for submission and examination of agenda items before the BoA and requested that all participants adhere to the following time limits for submission, processing and examination of the proposals to be considered by BoA. Subject (proposals to be considered by BoA) Time limit (before BoA meeting) 1. Forwarding of proposals by Zonal DCs to DoC Three weeks 2. Processing of proposals thus received, and preparation of Agenda by DoC Two weeks 3. Communication of written comments, if any, to the Agenda by D/o Revenue to DoC. Three days Item No.55.1: 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 prevalent Income Tax Act and Rules. The Assessing Officer, will have ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g developed by M/s. Artha Infratech Private Limited After deliberations, the Board approved the request of M/s. P.L.G. Incubation Services Private Limited for becoming a co-developer in the above mentioned SEZ, to develop one tower of approximately 1.6 lacs sq ft. super area in the processing area for IT/ITES including Electronic Hardware and Software units, in accordance with the codeveloper agreement entered into with the developer. (iv) Request of M/s. Deccan Real Ventures Private Limited for co-developer in the sector specific SEZ for IT/ITES at Gachibowli village, Serillingampally Mandal, R.R.District, Andhra Pradesh, being developed by M/s. Phoenix Infocity Private Limited DGEP raised the point that it needs to be ascertained if the land is under the control of the developer and is free from encumbrances. After deliberations, the Board decided that DoC will decide the matter on file after seeking necessary clarifications. (v) Request of M/s. Honeywell Technology Solutions Lab Pvt. Ltd. for co-developer in the sector specific SEZ for IT/ITES at IIlandhaikulam, Village, Madurai, Tamil Nadu, being developed by Electronics Corporation of Tamil Nadu Limited (ELCOT) After del ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ea to be de-notified, the State Govt has no objection to the denotification proposal etc. (ii) Request of M/s. G.P. Realtors Private Limited for de-notification of a portion of land in the sector specific SEZ for IT/ITES at Village Behrampur and Bandwari, Gurgaon, Haryana After deliberation, the Board decided to approve the request of M/s. G.P. Realtors Private Limited for de-notification of 8.094 hectares from the SEZ thereby making the total area of the SEZ as 28.673 hectares. The approval is subject to the DC furnishing a certificate in the prescribed format certifying inter alia that the contiguity of the SEZ is maintained, 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 de-notified, the State Govt has no objection to the denotification proposal etc. (iii) Request of M/s. SEZ Biotech Services Private Limited for addition of area in sector specific SEZ for Biotechnology at Manjari Budruk, Taluka Haveli, District Pune, Maharashtra After deliberations, the Board approved the request of M/s. SEZ Biotech Services Private Limited for addition of land measuring 4.61335 hectares to the notified ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fying inter alia that the contiguity of the SEZ is maintained, 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 de-notified, the State Govt has no objection to the denotification proposal etc. Item No. 55.4: Requests for de-notification (i) Request of M/s. Empire Industries Limited for de-notification of the sector specific SEZ for IT/ITES and Hardware at Ambernath District Thane, Maharashtra, notified over an area of 14.16 hectares After deliberations, the Board decided to approve the request of M/s. Empire Industries Limited for de-notification of the sector specific SEZ for IT/ITES and Hardware at Ambernath District Thane, Maharashtra, notified over an area of 14.16 hectares. The approval is subject to the DC furnishing a certificate in the prescribed format certifying inter alia that the contiguity of the SEZ is maintained, 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, the State Govt has no objection to the denotification proposal etc. (ii) Request of Maharashtra Industrial Development Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d, the developer has not availed any tax/duty benefits under SEZ Act/Rules, the State Govt has no objection to the proposal etc. (ii) Withdrawal of formal approval granted to State Industries Promotion Corporation of Tamil Nadu Limited, for setting up of sector specific SEZ for Automobile/Automobile parts/Auto Ancillary and support services including trading and logistic activities at Cheyyar SIPCOT Industrial, Cheyyar Taluk, Thiruvannamalai District, Tamil Nadu. The Board decided to approve the request of State Industries Promotion Corporation of Tamil Nadu for full withdrawal of formal approval granted to them for setting up of sector specific SEZ for Automobile/Automobile parts/Auto Ancillary and support services including trading and logistic activities at Cheyyar SIPCOT Industrial, Cheyyar Taluk, Thiruvannamalai District, Tamil Nadu, over an area of 103.24 hectares. The approval is subject to the DC furnishing a certificate in the prescribed format certifying inter alia that the contiguity of the SEZ is maintained, the developer has not availed any tax/duty benefits under SEZ Act/Rules, the State Govt has no objection to the proposal etc. Item No. 55.6: Requests for change ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l 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. (vii) The applicant shall maintain separate books of accounts for its developer function distinct from its SEZ unit. Item No.55.7: Requests for extension of validity of formal approvals beyond 4th, 5th & 6th year The Board advised the Development Commissioners to recommend the requests for extension of formal approval beyond 5th year and onwards only after satisfying that the developer has taken sufficient steps towards operationalisation of the project and further extension is based on justifiable reasons. Board also observed that extensions may not be granted as a matter of routine unless some progress has been made on ground by the developers. The Board, therefore, after deliberations, extended the validity of the formal approval to the requests for extensions beyond fifth years for a period of one year and those beyond s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l approval up to 22nd May, 2013 during which time DC was asked to ensure that the developer operationalizes the SEZ, as no further extension would be granted. (v) Request of M/s. Enfield Infrastructure Limited for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for IT/ITES including Electronics Hardware at Chandpur Champagachi, near Rajarhat, District 24 Parganas (N), West Bengal, beyond 22nd May 2012 (beyond 5th Year) The Board noted that the SEZ was approved and had been already been granted two,one year extensions but very little progress had been made even after a lapse of a period of 5 years. The Board after deliberations did not approve extension of the validity of the formal approval beyond 22nd May, 2012. (vi) Request of M/s. Enfield Infrastructure Limited for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for IT/ITES including Electronics Hardware at Mauza-Uttar Gazipur, South 24 Parganas, West Bengal, beyond 14.10.2012 (beyond 5th Year) The Board noted that the SEZ was approved and had been already been granted two,one year extensions but very little ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... alidity period of the In-principle approval dated 07.01.2008 for setting up of a multi product SEZ at Raigad, Maharashtra, over an area of 1012 hectares The Board noted that the SEZ had been granted two extensions to its in-principle approval, but very little progress had been made by the developer. The Board after deliberations rejected the request of the developer and refused to grant any further extension to the validity of the in-principle approval for the said SEZ project. Item No. 55.11: Requests for extension of LoP of units (1st Extension) (i) Request from M/s. Leela Ventures (India) Pvt. Ltd. a unit in the multi product SEZ at MIHAN, Nagpur, Maharashtra developed by M/s. Maharashtra Airport Development Company Ltd. (MADC) for extension/revalidation of its LoP The Board after deliberations extended the validity of the LoP for the above unit up to 14.06.2013. Item No. 55.12: Requests for extension of LoP of units beyond 3rd to 6th year (i) Request of M/s. Tata Consultancy Services Limited, a unit in M/s. Infopark SEZ, Kochi for extension of LoP beyond 09.07.2011 (beyond 4th year) The Board after deliberations extended the validity of the LoP for the above unit up to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing conditions: (a) The developer must establish contiguity within a period of 3 years from the date of notification. (b) No duty concessions would be available for construction of such structures to achieve contiguity in the SEZ, to the developer. (c) Pending the construction of the bridges the developer would ensure proper bonding/fencing of the SEZ land parcels to the satisfaction of the Development Commissioner, VSEZ and the Jurisdictional Commissioner Customs and Excise. (d) No LoA for any SEZ unit will be issued till the entire measures to establish contiguity and securitization of the processing area are completed. Item No. 55.16: Request of M/s. iGate Computer Systems Pvt. Ltd., a proposed unit in M/s. Gigaplex SEZ, Plot No It-5, Airoli Knowledge Park, MIDC - RRC, District Thane, Maharashtra to operate from Serene SEZ at TTC Industrial Area, MIDC, Airoli, District Thane, Maharashtra as an Interim arrangement till the facility at Gigaplex SEZ is constructed fully The Board accepted the request of DC SEEPZ to withdraw the above proposal. Item No.55.17: Proposal from M/s. IBM Daksh Business Process Services Private Limited for movement of data backup tapes/media in DTA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... DEVELOPMENT COMMISSIONERS 15. Shri Sanjeev Nandwani, Development Commissioner, Falta, Kolkata 16. Shri Jayant Misra, Development Commissioner, Noida SEZ, Uttar Pradesh 17. Shri N.P.S. Monga, Development Commissioner, SEEPZ SEZ 18. Shri Vijay N. Shewale, Development Commissioner, Surat SEZ, Surat 19. Shri Mahendra Jain, Development Commissioner, NMSEZ and KASEZ 20. Shri S. Kishore, Development Commissioner, APSEZ 21. Shri K.L. Sharma, Development Commissioner, Sterling SEZ, Gujarat 22. Smt. Lata Shukla, Development Commissioner, Mundra SEZ 23. Shri Ved Prakash, Development Commissioner, Mihan SEZ 24. Shri Anil Bamba, Development Commissioner, Sricity SEZ 25. Shri. S.N. Patil, Joint Development Commissioner, Dahej SEZ LIST OF PARTICIPANTS OF DEPARTMENT OF COMMERCE 26. Shri Madhusudhan Prasad, Additional Secretary, Department of Commerce. 27. Shri Rajeev Arora, Joint Secretary, Department of Commerce. Minutes of the 55th meeting of the BoA for SEZs held on 23rd November 2012 13 28. Shri Sanjeet Singh, Director, Department of Commerce 29. Shri Kabiraj Sabar, Under Secretary, Department of Commerce 30. Shri S.S. Kumar, Under Secretary, Department of Commerce 31. Shri ..... X X X X Extracts X X X X X X X X Extracts X X X X
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