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TMI BlogMinutes of the 77th meeting of the. Board of Approval for SEZ held on 12th May 2017 to consider setting up of Special Economic Zones and other miscellaneous proposalsX X X X Extracts X X X X X X X X Extracts X X X X ..... 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 sixth year for a period of 6 months from the date of expiry of last extension (I) Request of M/s. Electronics Technology Parks-Kerala for further extension of the validity period of formal approval, granted for setting. up of sector specific SEZ for IT/ITES at Pallipuram and Veiloor Village, Trivandrum, Kerala, beyond 15th May, 2017 The Board, after deliberations,, extended the validity of the formal approval up to 15th May, 2018 and no further extension would be granted. (ii) Request of M/s. Electronics 'Technology Parks-Kerala for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for IT/ITES at Andoorkonam village, Trivandrum, Kerala, beyond '15th May, 2017. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y 2017 The Board, after deliberations, rejected the proposal. (ii) Proposal of M/s. Sealand Ports Private Limited for extension of the validity of in-principle approval for setting up of multi product SEZ at Villages Layaja,Ratadiya, Godhra, Bayath Undoth, Taluka - Mandvi, District-Kutch, Gujarat, beyond 12th May, 2017 The Board, after deliberations, rejected the proposal. Item No. 77.3 Requests for extension of LoP beyond 3 d Year onwards (3 proposals) (i) Request of M/s.. Wockhardt Ltd., unit 2 in the sector specific SEZ for Pharmaceuticals being developed by M/s. Wockhardt Infrastructure Development Limited at Shendre, Aurangabad, Maharashtra for extension of Letter of Permission (LOP) beyond 25 th February, 2017. The Board, after deliberations, extended the validity of the LoP up to 25th February, 2018. (ii) Request of M/s. BEML Limited, a unit in KIADB SEZ, Bangalore for extension of LoP beyond 5th January, 2017 The Board, after deliberations, extended the validity of the LoP up to 5th January, 2018. (iii) Request of M/s. Dhoot Transmission Pvt. Ltd., a unit in the sector specific SEZ for Engineering and Electronics being dev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nnai for transfer of shares exceeding 50% to another entity. The Board, after deliberations, approved the proposal for transfer of shares exceeding 50% to another entity subject to following conditions: i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered unit entity; ii) Fulfilment of all eligibility criteria applicable to unit, including security clearances etc., by the altered unit entity. and its 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 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 o ..... 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Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered unit entity; ii) Fulfilment of all eligibility criteria applicable to unit, including security clearances etc., by the altered unit entity and its 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 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 or 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 office ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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-develop rentity and its 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 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gemini Technology Services India Limited and change in shareholding pattern of the company subject to following conditions:- (i) Seamless continuity of the SEZ activities with unaltered. responsibilities and obligations for the altered unit entity; (ii) Fulfilment of all eligibility criteria applicable to unit, including security clearances etc., by the altered unit entity and its 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 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, incl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... may also. be taken up by the SEZ division to bring clarity on such transactions. (ix) Request of M/s. Annik Technology Services Pvt. Ltd. (Unit-I) under the jurisdiction of NSEZ for change of name to M/s. LiquidHub Analytics Private Limited and change in shareholding of the company. After deliberations, the Board approved the proposal for change of name from M/s. Annik Technology Services Pvt. Ltd. to M/s. LiquidHub Analytics Private Limited and change in shareholding pattern of the company subject to following conditions:- (i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered unit entity; (ii) Fulfilment of all eligibility criteria applicable to unit, including security clearances etc., by the altered unit entity and its 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 change in equity/merger,- demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member' (IT), CBDT, Department of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the unit to CBDT. (viii) Meanwhile, the proposal for amendment in SEZ Rules may also be taken up by the SEZ division to bring clarity on such transactions. (xi) Request of M/s. BA Continuum India Pvt. Ltd. (Unit-I Unit-II), a unit in IT/ITES SEZ of M/s.. Gurgaon Infospace Ltd., at Dundahera, Sector-21, Gurgaon, Haryana under the jurisdiction of NSEZ for change in shareholding pattern. The Board, after deliberations, approved the proposal for change of shareholding patterns of the above units subject to following conditions:- i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered unit entity; ii) Fulfilment of all eligibility criteria applicable to unit; including security clearances etc., by the altered unit entity and its 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 change in equity/merger, demerger; amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT), CBDT, Department of Reven ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... change of name/constitution to M/s. Capgemini Technology Services India Ltd. After deliberations, the Board approved the proposal for amalgamation of M/s. Capgemini India Pvt. Ltd. with M/s. IGate Global Solutions Ltd. and change of name/constitution to M/s. Capgemini Technology Services India, Ltd.; subject to 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 Revenue / Company Affairs /SEBI etc. rules 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 eq ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , Additional Secretary, Department of Commerce 4. Shri Vinay Chhabra, DG, DGEP, Department of Revenue, Ministry of Finance 5, Dr. Tejpal Singh, Additional Director General, DGEP 6. Smt. Deepshikha Sharma, Director, CBDT, Department of Revenue, Ministry of Finance 7. Shri Saroj Kumar Behera, Joint Director, DGEP, BEC 8. Shri A.K. Mishra, Research Assistant TCPO, Ministry of Urban Development, Vikas Bhawan, I.P. Estate, New Delhi 9. Shri Rajiv Malik, Assistant Resident Commissioner, Govt. of Maharashtra, Maha Sadan. 10. Shri S. Sasikurnar, Dy. Director, DIPP. 11. Shri H. S. Bisht, Director (Chem)/MATU, O/o DC (MSME), Nirman Bhawan, New Delhi 12. Shri O.D. Vashishtha , DGM/DSIIDC, Govt. of Haryana, C-8 Baba Kharak Singh Marg, New Delhi. 13. Dr. Urvashi Roul, General Manager, PSIEC, New Delhi 14. Shri Radhay Shyam Mishra, Additional Commissioner Industries, Meerut UP - Representative of Principal Secretary MSME, Govt. of,UP. 15. Dr. Rakesh AR, Town and country, Planning Organization, Mb Urban Development, Govt. of India. LIST OF DEVELOPMENT COMMISSIONERS 16. Dr. L.B. Singhal, Development Commissioner, Noida SEZ 17. Shri N,P.S. Mong ..... X X X X Extracts X X X X X X X X Extracts X X X X
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