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TMI BlogMinutes of the 70th meeting of the Board of Approval for SEZs held on 28th April 2016 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 ..... ar Infrastructure Development Pvt. Ltd. for setting up of Biotechnology SEZ at village Rahaka Nimoth District Gurgaon, Haryana beyond 13th July, 2016 The Board, after deliberations, extended the validity of the formal approval up to 13th July, 2017. (iii) Request for further extension of LoA from M/s. Wipro Limited for setting up of IT/ITESBPO SEZ at Kodathi village, Varthur hobli, Sarjapur Road, Bangalore, Karnataka beyond 26th May 2016 The Board, after deliberations, extended the validity of the formal approval up to 26th May, 2017. (iv) Request of M/s. Brookefields Real Estates and Projects Private Limited for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for IT/ITES/BPO/Electronic Hardware at Brooke fields , Village Kundalahalli, Hobli Krishnarajapuram, Taluk Bangalore South, Karnataka, beyond 31st March 2016. The Board, after deliberations, directed DC, CSEZ to obtain and furnish a report indicating financial closure. Thereafter, the proposal will be considered on file with the approval of Commerce Secretary. (v) Request of M/s. Vedanta Limited for extension of the validity period of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns, extended the validity of the LoP up to 1St February, 2017 and also directed DC, NSEZ to keep the developments of the Unit under watch. (iv) Request of M/s. Indofil Industries Limited, a unit in the multi product SEZ being developed by M/s. Dahej SEZ at Bharuch, Gujarat for extension of LoP beyond 13th March 2016 The Board, after deliberations, extended the validity of the LoP up to 13 th March, 2017. (v) Request of M/s. Ajanta Pharma Limited, a unit in the multi product SEZ being developed by M/s. Dahej SEZ at Bharuch, Gujarat for extension of LoP beyond 1St April 2016 The Board, after deliberations, extended the validity of the LoP up to 1st April, 2017. (vi) Request of M/s. Lupin Ltd., a unit in MIHAN SEZ, for extension of Letter of Permission (LoP) beyond 22 nd April 2016 The Board, after deliberations, extended the validity of the LoP up to 22 nd April, 2017. (vii) Request of M/s. Godrej Boyce Manufacturing Company Limited, a unit in the multi product SEZ being developed by M/s. Dahej SEZ at Bharuch, Gujarat for extension of LoP beyond 29th May 2016 The Board, after deliberations, extended the validity of the LoP up to 29th Novembe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntinue to be a period not exceeding 30 years (Renewable). Approval of proposals for Co-developer All approvals for 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 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 and Rules. This is applicable to all cases of co-developers approved by the BoA in this meeting. The decisions of the BoA on the proposals listed in the agenda are as under:- (i) Request of M/s. Brigade (Gujarat) Projects Pvt. Ltd. for co-developer in the sector specific SEZ for multi services at Ratanpur, District Gandhinagar, Gujarat, being developed by M/s. GIFT SEZ Ltd. After deliberations, the Board approved the proposal of M/s. Brigade (Gujarat) Projects Pvt. Ltd. for becoming a co-developer to develop, maintain and operate office building for units to undertake export of services in the processing area of GIFT SEZ Ltd., o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er in the multi product SEZ at Mundra, Kutch, Gujarat, being developed by M/s. Adani Ports and Special Economic Zone Ltd. (APSEZL) The Board was informed that the proposal was withdrawn by M/s. MPSEZ Utilities Private Limited. (v) Request of M/s. Volupia Developers Pvt. Ltd. for co-developer in Multi Services SEZ at Ratanpur, District Gandhinagar, Gujarat, being developed by M/s. GIFT SEZ Ltd. for additional built up area of 50,237 sq.ft. After deliberations, the Board approved the proposal of M/s. Volupia Developers Pvt. Ltd. for additional built up area of 50,237 sq. ft., in accordance with the supplemental agreement to co-developer agreement entered into with the developer subject to standard terms and conditions as per SEZ Act and Rules . (vi) Request of M/s. UST Global Technology Services (India) Private Limited for co-developer in the sector specific SEZ for IT/ITES at Puthencruz and Kunnathunade village, Taluk Kunnathaunadu, Ernakulam District, Kerala, being developed by M/s. Infopark After deliberations, the Board approved the proposal of M/s. UST Global Technology Services (India) Private Limited for co-developer for development of IT infrastruct ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d 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. (ii) Request of M/s Unitech Realty Project Ltd., developer of sector specific SEZ for IT/ITES at Tikri, Sector, 48, Gurgaon, Haryana for change of name/constitution shareholding pattern of the company After deliberations, the Board approved the request for change of name of the developer from M/s Unitech Realty Project Ltd. to M/s. Candor Gurgaon One Developers and Projects Pvt. Ltd. and change of the shareholding pattern of the company, subject to following conditions:- (i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered developer entity; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Assessing Officer shall have the right to examine and assess the taxability 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 co-developer to CBDT. (iv) Request of M/s GMR Hyderabad Aviation SEZ Ltd. for inclusion of pharma sector in SEZ After deliberations, the Board approved the request of M/s GMR Hyderabad Aviation SEZ Ltd. for inclusion of pharma as additional sector in the said SEZ. Item No. 70.8: Cancellation of Formal Approvals The Board examined the following 5 cases of cancellation of formal approval /notification and approved cancellation of their formal approvals:- Sr. No. Name of the Developer/co-developer Sector Date of formal approval Zone I. M/s. Abex Infocom (P) Ltd. (Kakshin Kehirpur, P.S. Kassipore, South 24 Parganas, West Bengal) IT Sector ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... yond 11th October, 2014 The Board, after deliberations, condoned the delay and extended the validity of the formal approval up to 11 th October, 2016. (iii) Request of M/s. Mikado Realtors Pvt. Ltd. for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for Electronic Hardware, IT/ITES at Village Behrampur, Distt Gurgaon, Haryana, beyond 29th October, 2011. The Board, after deliberations, condoned the delay and extended the validity of the formal approval up to 29 th October, 2017. Item No. 70.11 : Requests for extension of LoP beyond 3rd Year onwards (i) Request of M/s. Tatva Chintan Pharma Chem Pvt. Ltd., a unit in the multi product SEZ being developed by M/s. Dahej SEZ at Bharuch, Gujarat for extension of LoP beyond 22 nd May 2016. The Board, after deliberations, extended the validity of the LoP up to 22nd May, 2017. Item No. 70.12: Miscellaneous Cases (i) Request of M/s. Unitech Hi-tech Structures Developers Ltd., a developer in sector specific SEZ for IT/ITES at Rajarhat Dist. North 24 Parganas, Kolkata, West Bengal for change of name from M/s. Unitech Hi-Tech Structures Pv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 unit shall furnish details of PAN and jurisdictional assessing officer of the developer to CBDT. (iii) Request of M/s. Ford Motor Private Limited (FMPL) for co-developer in the sector specific SEZ for IT/ITES at Sholinganallur village, Tambaram Taluk, Kancheepuram District, Tamil Nadu, being developed by M/s. Electronics Corporation of Tamil Nadu Limited (ELCOT). The Board, after deliberations, took note of the recommendation of the Government of Tamil Nadu contained in its letter dated 16.03.2016 for allowing co-developer status to M/s Ford Motor Private Limited for 99 years instead of 30 years as M/s Ford Motor Pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ame of Company Ebiz Appln. No. Location Items of manufacture Proposed Annual M/s Reliance Land Systems Ltd. GV 2375 Pithampur (SEZ), Akolia, Dhar, M.P. Manufacture of : Ground Vehicles including Tanks, Armoured Vehicles, Infantry Combat Vehicles, Armoured Personnel Carrier 100 All wheeled drive vehicles fitte with components to provide ballstic protection level III and above 150 Amphibious vehicles for military use. 50 2. M/s Reliance Land Systems Ltd. ZG 8110 Pithampur (SEZ), Akolia, Dha, M.P Manufacture of all types of ammunition and fuses. 500 3. M/s Reliance Land Systems Ltd. GL 8981 Pithampur (SEZ), ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... M/s Reliance Naval Systems Ltd. GE 9890 Mihan (SEZ). Nagpur Manufacture of Hull Mounted Sonar, Towed Array Sonar and Mine Warfare Systems 8 12. M/s Reliance Naval Systems Ltd. OI 4314 Mihan (SEZ), Nagpur Design, Development and manufacture of Electro-optical Systems. Design and Development of C41 Systems. 616 12 13. M/s Reliance SED Ltd. IW 7274 Mihan (SEZ), Nagpur Manufacture of Recorders Image Processing, image Intensifier, Infrared, Imaging Radar Sensor Equipments. 100 14. M/s Reliance SED Ltd. GJ 0716 Mihan (SEZ), Nagpur Manufacture of Communication systems for Land, Naval and Airborne Platforms. 200 15. M/s Reliance SED Ltd. RS 1900 Mihan (SEZ), Nagpur Design, Development and Manufacture of C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h August, 2015, cancelling the LoA. Annexure I List of Participants for the Meeting of the Board of Approval for Special Economic Zones held on 28 th April, 2016 under the Chairpersonship of Commerce Secretary, Department of Commerce 1. Ms. Rita Teaotia, Chairpersonship, BoA Commerce Secretary, Department of Commerce 2. Shri John Joseph, DGEP, Department of Revenue, Ministry of Finance 3. Dr. Tajpal Singh, Additional Director General, DGEP 4. Shri Jitendra Kumar, Additional Dir, DGEP 5. Ms. Gunjan Vaishney, Under Secretary (ITA-1), CBDT, Department of Revenue, Ministry of Finance 6. Shri K. Biswal, Joint Secretary Legislative Counsel, M/o of Law Justice, Legislative Department, Government of India 7. Shri Krishna Mohan Arya, Assistant Legal Adviser M/o Law Justice Department of Legal Affairs. 8. Shri A.K. Mishra, Research Assistant TCPO, Ministry of Urban Development, Vikas Bhawan, I.P. Estate, New Delhi 9. Shri Yogesh Panday, US.IS-II, MHA 10. Shri Sanjay Aghav, Assistant Resident Commissioner, Govt. of Maharashtra 11. Dr. S.K. Sahoo, Deputy Director (EP), O/o DC(MSME), M/o MSME, Nirman Bhawan, New Delhi. 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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