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TMI BlogMinutes of the 56th meeting of the SEZ Board of Approval held on18th January 2013 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 ..... nancial 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. Item No.56.1: 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 the right to examine the taxability of these amounts under the SEZ Act and Income Tax Act as applicable. This is applicable to all the cases of co-developers approved by the BoA in this meeting. The Board further directed that proposals for grant of codeveloper status should be accompanied by lease deed/draft lease deed which must inter-alia contain the details of financial transactions/arrangements between developer and proposed co-developer. The decisions of the BoA on the proposals are as under:- (i) Request of M/s. MPSEZ Utilites Pvt. Ltd. (MUPL), for co-developer in the FTWZ at Village D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... accordingly the Lessee requires to seek no further permission or consent of the Lessor. In view of the above, the Board after deliberations approved the request of M/s. HBS City Pvt. Ltd., Mumbai for becoming a co-developer in the above mentioned SEZ, for undertaking the authorized operations which were approved to be undertaken by the developer vide DoC s letter dated 24th Nov., 2010, in accordance with the co-developer agreement entered into with the developer. BoA further directed that the Govt of Gujarat and GIDC may also be apprised of the matter. Item No. 56.2: Request for increase/decrease in area (i) Request of M/s. Reliance Industries Limited for de-notification of a portion of land in the multi product SEZ at Jamnagar, Gujarat After deliberation, the Board decided to approve the request of M/s. Reliance Industries Limited for partial de-notification of an area of 728.43 hectares from the SEZ thereby making the total area of the SEZ as 1035.72 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tem No. 56.4: Requests for withdrawal of formal approval (i) Withdrawal of formal approval granted to Maharashtra Industrial Development Corporation for setting up of sector specific SEZ for Textile at Kagal, Dist. Kolhapur, Maharashtra The Board decided to approve the request of Maharashtra Industrial Development Corporation for full withdrawal of formal approval granted to them for setting up of sector specific SEZ for Textile Kagal, Dist. Kolhapur, Maharashtra, over an area of 104 hectares. The approval is subject to the DC furnishing a certificate in the prescribed format certifying that 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.56.5: Requests for extension of validity of formal approvals beyond 5th 6 th 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 matte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t of M/s. Parsvnath SEZ Limited for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for IT/ITES at Aluva Taluk, Ernakulam, beyond 26.10.2012 (beyond 6th year) The Board after deliberations extended the validity of the formal approval up to 30th June, 2013 during which period the developer must commence construction of the project failing which no further extension would be considered by the Board. Item No. 56.6: Request of the developer M/s. Mumbai Futuristic Economic Zone Pvt. Ltd. for 3rd extension of the validity period of the In-principle approval dated 15.11.2006 for setting up of sector specific SEZ for Engineering at Alibag, Raigad, Maharashtra, over an area of 250 hectares After deliberations, the Board observed that no infrastructural development/financial investment had been made in the project till date. Accordingly, the Board decided to reject the proposal. The Board observed that the developer was at liberty to apply for a fresh LoA once the requisite conditions are met in this regard. Item No. 56.7: Request of the developer M/s. Taneja Aerospace and Aviation Limited for 4th extension of the validit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... EZ on Engineering, for extension of LoP beyond 22.06.2012 (beyond 4th year) After deliberations, the Board decided that there did not exist sufficient grounds for permitting extension of validity of LOP of the unit beyond 22.06.12. The BoA accordingly rejected the request of the unit. (v) Request of M/s. Torrent Pharmaceuticals (Dahej), a unit in M/s. Dahej SEZ Limited, Gujarat for extension of LoP beyond 2nd December, 2012 (beyond 4th year) The Board after deliberations extended the validity of the LoP for the above unit up to 2nd December, 2013. (vi) Proposal of DC MEPZ for seeking extension of validity of LoP of M/s Trishiraya recycling Pvt. Ltd. a unit in MEPZ and approval for its capacity enhancement The Board after deliberations decided to approve the request for extension of validity of LoP of the unit subject to condition that no DTA sale will be permitted to the unit. On the issue of request for capacity enhancement the Board deferred the issue and sought specific comments from MSME in this regard. (vii) Proposal of DC FSEZ for extension of validity of LoP of M/s Gujarat Textiles a unit in FALTA SEZ After deliberations, the Board decided to approve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e India Private Limited, a unit in VSEZZ being developed by M/s. DLF Commercial Developers Limited, IT/ITES SEZ at Gachibowli, Village, Serilingampally Mandal, Ranga Reddy District, Andhra Pradesh against rejection of its request to Rent a Cab Services services . The Board after hearing the appellant and deliberating on the subject decided to reject the appeal as the same is not permissible under the SEZ Act / Rules. (iii) Appeal of M/s. Mayar Infrastructure Development Pvt. Ltd. (MIDPL), against the decision made in UAC NSEZ dated 25.10.2012. The Board after hearing the appellant and deliberating on the subject decided to reject the appeal as the same is not permissible under the SEZ Act / Rules. (iv) Appeal of M/s. Raheja SEZs Limited against rejection of its LoA extension, for a period of one year w.r.t setting up of sector specific SEZ for Engineering at Village Hamipur, Khetawas, Saidpur Wazirpur, District, Gurgaon, Haryana The matter was deferred on the request of the appellant. Decisions on Supplementary Agenda Item No. 56.13: Proposal for setting up of SEZs. (i) Proposal of M/s. Manipur IT SEZ Project Development Company Limited, an SPV of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ations the comments of Department of Revenue. After deliberations the Board decided to approval the request of M/s. Smart City (Kochi) Infrastructure Private Limited for 1 [ addition of 40.7356 hectares ] land to the notified sector specific SEZ for IT/ITES over a land of 53.1809 hectares, at Kanayanoor Taluk, Ernakulam District, Kerala subject to the following : 1) The Developer was to ensure establishment of contiguity within the two parcels of land by way of construction of over bridge. 2) Such contiguity was to be established within a period of 18 months 3) No tax/duty benefits will be permissible on account of expenses incurred towards establishment of contiguity. 4) Till the time contiguity is established, setting up of units will be approved only in the processing area of the SEZ which is already notified. Department of Revenue sought permission to submit its final comments after seeking due approval from competent authority. Decisions on Table Agenda Item No.56.16: Extension of LoP plastic recycling units in SEZ The Board was informed that it had in its 55th meeting held on 23.11.2012 ratified the extension of LoP of the plastic re-processing units ..... X X X X Extracts X X X X X X X X Extracts X X X X
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