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TMI BlogMinutes of the 75th meeting of the Board of Approval for SEZ held on 8th March 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 ..... ufficient 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. Indus Gene Expression Ltd. for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for Biotech and related activities at Kodur and Settipali villages, Chilamathur Mandal, Anantapur District, Andhra Pradesh,- beyond 13 th February, 2017 The Board, after deliberations, extended the validity of the formal approval up to 13 th February, 2018. (ii) Request of M/s. SEZ Biotech Services Pvt. Ltd. for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for Biotechnology at Manjari Budruk, Taluka Haveli, District Pune, Maharashtra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eon Communications Pvt. Ltd. (Unit-II), a unit in NSEZ at Noida, Uttar Pradesh for extension of validity period of its LoP beyond 28th February 2017. The Board, after deliberations, extended the validity of the LoP up to 28th February, 2018. (ii) Request of-M/s Kusum Healthcare Pvt. Ltd., a unit in Indore SEZ for extension of validity period of its LoP beyond 28th February 2017 The-Board after deliberation extended the validity of the LoP upto-28th February-2018. (iii) Request of M/s. APPL Industries Ltd., a unit in the multi product SEZ being developed by M/s. Dahej SEZ at Bharuch, Gujarat for extension of Letter of Permission (LoP) beyond 13th February, 2017 The Board, after deliberations, extended the validity of the LoP up to 13th February, 2018. (iv) Request of M/s. Macson Color Chem Pvt. Ltd., a unit in the multi product SEZ being developed by M/s. Dahej SEZ at Bharuch, Gujarat for extension of Letter of Permission (LoP) beyond 5 th February, 2017 The Board, after deliberations, extended the validity of the LoP up to 5 th February, 2018. (v) Request of M/s. Astra Specialty Compounds India Pvt. Ltd., a unit in the multi product SE ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rdance with the co-developer agreement entered into with the developer, subject to standard terms and conditions as per SEZ Act and Rules. Item No. 75.4 Proposals for setting up of New SEZs (5 proposals) (i) Request of M/s. Modern Asset, Bangalore for setting up of sector specific SEZ for IT/ITES at Survey No. 2/1 2/2, Venkatala Village, Yelahanka Hobli, Bangaluru, Karnataka, over an area of 2.33 hectares. The Board, after deliberations, approved the proposal for setting up of a sector specific Special Economic Zone for IT/ITES at Survey No. 2/1 2/2, Venkatala Village, Yelahanka Hobli, Bangaluru, Karnataka, over an area of 2.33 hectares. (ii) Request of M/s. Modern Asset (Phase -II), Bangalore for setting up of sector specific SEZ for IT/ITES at Survey No. 2/2, Venkatala Village, Yelahanka Hobli, Bangaluru, Karnataka, over an area of 3.22 hectares. The Board, after deliberations, approved the proposal for setting up of a sector specific Special Economic Zone for IT/ITES at Survey No. 2/2, Venkatala Village, Yelahanka Hobli, Bangaluru, Karnataka, over an area of 3.22 hectares. (iii) Request of M/s. Oracle India Private Limited for setting up o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... decided on merits by the Board of Approvals on a case to case basis. * Proposal to incorporate the above decision of BoA in SEZ Rules, 2006 has been approved and was sent to DLA for vetting. (i) Request of M/s. DLF Info City Developers (Chennai) Limited in the sector specific SEZ for IT/ITES at 1/124, Shivaji Garden, Moonlignt Stop, Nandampakkam Post, Ramapuram, Mount Poonamalle Road, Chennai for transfer of LoA from M/s. DLF Info City Developers (Chennai) Limited to M/s. DLF Home Developers Limited in terms of merger/amalgamation order passed by Hon'ble High Court. After deliberations, the Board approved the proposal for transfer of LoA from M/s. DLF Info City Developers (Chennai) Limited to M/s. DLF Home Developers Limited, subject to 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 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 r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AN and jurisdictional assessing officer of 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. (iii) Request of M/s. Sapient Consulting Pvt. Ltd. under the jurisdiction of NSEZ for change of shareholding of five units. The Board, after deliberations, approved the proposal for change of shareholding of five units in different SEZs subject to following conditions:- i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered unit entity; ii) Fulfillment 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 Off ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d, at Village Dundahera, Sector-21, Gurgaon, Haryana under the jurisdiction of NSEZ for change of name Shareholding of the company. The Board, after deliberations, approved the proposal for change of proprietorship subject to following conditions:- i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered unit entity; ii) Fulfillment 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 r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lutions Ltd. to M/s. Capgemini 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) Fulfillment 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 Go ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... export of Sandal Wood Chips (upto 50 gms) Sandal Wood Powder, Sandal Wood Oil, Sandal Wood Handicraft and its by-product based on Sandal Wood Oil. The Board, after deliberations, noted that while DGFT, vide its letter dated 30.01.2017, has clarified the export policy, quantitative ceiling on import of Sandal Wood is applicable and license for the same is issued by DGFT. The Board, therefore, deferred the proposal. DGFT will hold a meeting with DGEP and DC NSEZ to discuss all issues raised by DC NSEZ and DGEP and give a report in the matter. In the meanwhile, all DCs will intimate the details of Sandal Wood units to DoC/DGFT by 27.3.2017. (ii) Request of M/s. Wipro Ltd. at Survey No. 39, Old TB Hospital Area, Visakhapatnam to add additional area to the already approved area for its IT/ITES SEZ The Board, after deliberations, approved the proposal with the condition that the direct tax benefits will be available only on the new infrastructure. Item No. 75.7 Cancellation of Formal Approvals (8 proposals) The Board examined the following 8 cases of cancellation of formal approval /notification and approved cancellation of their formal approvals:- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of M/s. V.V. Mineral, a unit at (AMRL SEZ) MEPZ against order dated 28.12.2016 passed by UAC, MEPZ. The Board heard the submission of representative of M/s. V.V. Minerals at length and, after deliberations, remanded the matter back to the DC MEPZ for fresh consideration as per rules. The Board also directed that till the completion of aforesaid procedure, no transaction of the firm will be allowed. (iii) Appeal of M/s. Websol Energy System Limited, a unit in FSEZ against order dated 01.12.2016 passed by UAC, FSEZ. The Board, after hearing the appellant upheld the appeal made in this regard and allowed enhancement of production capacity for manufacture of Solar PV Cell and Modules as requested by M/s. Websol Energy System Limited vide its letter dated 01.08.2016. The Board also noted that the unit has not defaulted in realization of pending FOREX and the unit should clear the pending FOREX realization at the earliest which will be monitored by DC, FSEZ. (iv) Appeal of M/s. Zoho Corporation Pvt. Ltd, a unit in MEPZ against order dated 18.01.2017 passed by UAC, MEPZ. The appeal is against the order of Approval Committee, MEPZ in its meeting held on 12.1.201 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... als (one proposal) BoA in its meeting held on 14th September, 2012, examining similar cases observed as under: - The Board advised the Development Commissioners to recommend the requests for extension of formal approval beyond 5t' year and onwards only after satisfying that the developer has taken sufficient steps towards operationalisation of the project and further extension is based on justiflable 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. Infosys Limited for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for IT/ITES at Indore, Madhya Pradesh, beyond 27th March, 2017 The Board, after deliberations, extended the validity of the formal approval up to 27 th March, 2018. Item No. 75.10 Requests for extensio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ftware Exports Private Limited for co-developer in the sector specific SEZ for IT/ITES at Vadapalanji, Madurai, Tamil Nadu being developed by M/s. Electronic Corporation of Tamil Nadu Limited After deliberations, the Board approved the proposal of M/s. Chain-Sys Software Exports Private Limited to provide support in developing, operating and maintaining the SEZ over an area of 8.09371 hectares in accordance with the co-developer agreement entered into with the developer, subject to standard terms and conditions as per SEZ Act and Rules provided that the lease period is reduced to a period not exceeding 30 years (Renewable). (iii) Request of M/s. Aidt Phase-1 Private Limited for co-developer in sector specific SEZ for Electronics Hardware and IT/ITES at Village Behrampur, Balola Bandhwari, Tehsil Sohna, District Gurgaon, Haryana being developed by M/s. G.P. Realtors Pvt. Ltd. After deliberations the Board approved the proposal of M/s. Aidt Phase-I Private Limited for development of internal and external infrastructure facilities and buildings and undertaking such other authorized operations over an area of 9.626 hectares in accordance with the co-developer agreemen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... strict, Telangana, over an area of 3.46 hectares. The Board, noted that the recommendation of the Government of Telangana had since been received, after deliberations, approved the proposal for setting, up of a sector specific Special Economic Zone for IT/ITES at Survey No. 286 and 287, Puppalaguda Village, Rajendranagar Mandal, Ranga Reddy District, Telangana, over an area of 3.46 hectares. (vi) Request of M/s. BSR Builders LLP for setting up of sector specific SEZ for IT/ITES at Sy. No. 141 142, Nanakramguda Village, Serlingarpally Mandal, Ranga Reddy District, Telangana, over an area of 1.16 hectares. The Board, after deliberations, approved the proposal for setting up of a sector specific Special Economic Zone for IT/ITES at Sy. No. 141 142, Nanakramguda Village, Serilingampally Mandal, Ranga Reddy District, Telangana,, over an area of 1.16 hectares. (vii) Request of M/s. Perungudi Real Estates Private Limited for setting up of sector specific SEZ for IT/ITES at OMR Road, Perungudi, Chennai, Tamil Nadu, over an area of 4.28 hectares. The Board, after deliberations, approved the proposal for setting up of a sector specific Special Economic Zone for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lment of all eligibility criteria applicable to co-developer, including security clearances etc., by the altered co-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 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 jurisdictional assessing officer of the co-developer to CBDT. viii) Meanwhile, the proposal for amendment in SEZ Rules may also be taken up by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... altered unit entity; (ii) Fulfillment 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, including those relating to lease of land, as applicable. (vii) The unit shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT. (viii) Meanwhile, the' proposal for amendment in SEZ Rules may a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... p of sector specific SEZ for IT/ITES at Survey no. 65(p), Village Kharadi, Taluka Haveli District Pune, Maharashtra, for increase an area of 0.92 hectares. The Board, after deliberations, approved,the request of M/s. KRC Infrastructure and Projects Private Limited for increase in area of 0.92 hectares, increasing the total area of the SEZ to 4.95 hectares, subject to contiguity of the land in the SEZ being maintained. (ii) Request of M/s. Gigaplex Estate Pvt. Ltd. setting up of sector specific SEZ for IT/ITES at Plot IT-5, Airoli Knowledge Park, MIDC-TTC, Dist. Thane, Maharashtra, for increase an area of 3.61 hectares. The Board, after deliberations, approved the request of M/s. Gigaplex Estate Pvt. Ltd. for increase in area of 3.61 hectares, increasing the total area of the SEZ to 16.52 hectares, subject to contiguity of the land in the SEZ being maintained. (iii) Proposal of M/s. MMG Impex, a unit in MEPZ to reconsider the proposal for manufacture of additional items of sandalwoods. The Board, after deliberations, noted that while DGFT, vide its letter dated 30.01.2017, has clarified the export policy, quantitative ceiling on import of Sandal Wood is ap ..... X X X X Extracts X X X X X X X X Extracts X X X X
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