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TMI BlogMinutes of the 88th meeting of the. Board of Approval for SEZ held on 25th February, 2019 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 ..... being a policy matter, should be decided by DoC. It was agreed that this submission by Department of Revenue may be included in the minutes of agenda item 87.10(v) of the meeting held on 9th January, 2019 and taken on record. Item No. 88.2: Requests for extension of validity of formal approvals (2 proposals) 88.2 (i) Request of M/s. Indus Gene Expressions Ltd-SEZ for further extension of the validity period of formal approval, granted for setting up of Bio-tech sector specific SEZ at Kodur and Settipali Villages, Chilamathur Mandal, Anantapur Distt, Andhra Pradesh beyond 13.02.2019. The Board, after deliberations, approved extension of the validity of the formal approval up to 13th February, 2020. 88.2 (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 Poonawala Bio Technology Park - SEZ at Manjri Budruk, Taluka Haveli, District - Pune beyond 27.03.2019. The Board, after deliberations, approved extension of the validity of the formal approval ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 019. 88.3(vii) Request of M/s. Gowra Aerospace Technologies Pvt. Ltd., unit in M/s. TSIIC Ltd. SEZ for Precision Engineering at Adibatla Village, Ibrahimpatnam Mandal, Ranga Reddy District, Telangana for extension of validity of their LoP beyond 12.12.2013. The Board, after deliberations, approved extension of the validity of the LoP up to 11th December, 2019. The Board took a view that all the Development Commissioners should ensure that units under their jurisdiction will abide by the timelines granted to them and avoid project delays. The units are required to submit application seeking renewal before expiry of the validity period of their LoP. 88.3(viii) Request of Tata Power Company Ltd. a unit in KIADB Aerospace SEZ for extension in the validity period of Letter of Permission beyond 06.03.2019. The Board, after deliberations, approved extension of the validity of the LoP up to 6th March, 2020. 88.3(ix) Request of M/s. Biocon Pharma Ltd. in the Biocon SEZ for extension of Letter of Permission (LoP) be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... areholding. The Board approved the proposal of the co-developer for change of name to M/s. Tuticorin Electricity Supply Private Limited. The Board noted that proposal does not indicate whether the change in shareholding pattern has the approval under relevant statutes. The Board, after deliberations, approved the proposal subject to approval by relevant statutory body for such change in shareholding pattern with following conditions:- i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered co-developer entity; ii. Fulfillment 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vii. The co-developer shall furnish details of PAN and jurisdictional assessing officer of the co-developer to CBDT. 88.4(iv) Request of M/s. Phoenix Embassy Tech Zone Pvt. Ltd. for change in shareholding pattern and change of name of their company to M/s Phoenix Tech Zone Pvt. Ltd. The Board noted that proposal does not indicate whether the change in shareholding pattern and the change in name have the approval under relevant statutes. The Board, after deliberations, approved the proposal subject to approval by relevant statutory bodies with 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 regulate issues like capital gains, equity change, transfer, taxability etc. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , 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. 88.4(vi) M/s. DLF Infocity Developers (Chennai) Ltd., developer for IT/ITES SEZ at Shivaji Gardens, Moonlight Stop, Nandampakkam Post, Ramapuram, Chennai for transfer of LoA M/s. DLF Home Developers Ltd. to M/s. DLF Info City Chennai Ltd. due to de-merger-NCLT orders. The Board approved the proposal for transfer of LoA of M/s. DLF Home Developers Ltd. to M/s. DLF Info City Chennai Ltd. subject to the 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 cle ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ompany 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 developer shall furnish details of PAN and jurisdictional assessing officer of the developer to CBDT. 88.4(viii) Request of M/s. Pesh Infra Builders LLP.-Co-developer in MIDC SEZ, Hinjewadi, Pune for prior approval for change in capital contribution and retirement and admission of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tation as a part of Electricity distribution network at Plot No. 23 as well as 09 nos. of small sub-stations of 11KVs already installed subject to Co-Developer Agreement being entered into with the developer and also subject to standard terms and conditions as per SEZ Act and Rules provided that the lease period is limited to a period not exceeding 30 years (Renewable). Item No.88.6 Proposal for setting up of new SEZs (one proposal) 88.6(i) Request of M/s. Adani Power (Jharkhand) Ltd. for setting up of sector-specific SEZ for power at Villages - Motia, Mali, Gaighat adjacent villages in Godda District, Jharkhand over an area of 425 Ha (formal approval for the land in possession of 222.68 Ha area and In-principle approval for remaining 202.32 hectares). The Board, after deliberations, approved the proposal for setting up of a sector specific Special Economic Zone for power at Villages - Motia, Mali, Gaighat adjacent villages in Godda District, Jharkhand over an area of 425 Ha (formal approval for the land in possession of 222.68 Ha area and In-principle approval for remaining 202.32 hectare ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ter in abeyance for deliberations as the matter is sub-judice. 88.7(vi) Request of M/s. Embassy Office Parks Pvt. Ltd. a sector specific SEZ for IT/ITES at Plot No. PLL-3, Rajiv Gandhi Infotech Park, Hinjewadi, Phase 11, Village Marunji, Taluka Mulashi, District Pune, Maharashtra, for increase in an area of 7.298 hectares. The Board, after deliberations, approved the proposal for increase in an area of 7.298 ha. 88.7(vii) Application submitted by M/s. Rajesh Exports Ltd., Bangalore for setting up a Unit in Cochin SEZ for manufacture/ export of Gold Bars and Silver Bars. The Board, after deliberations, decided to reject the proposal on the ground that the proposed activity is not allowe d in terms of para 4.61 of the Handbook of Procedure (HBP) 2015-2020 and also the Notification No. 21/2015-2020 dated 14.08.2017 issued by DGFT. 88.7(viii) Request of M/s. Abhijeet Ferro Tech Ltd., a unit in APSEZ, Atchutapuram for import of Ferro Manganese slag for a quantity of 1,00,000 MTs for their authorized operations. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hip of Commerce Secretary, Department of Commerce. 1. Shri Anup Wadhawan, Chairman, BoA Commerce Secretary, Department of Commerce 2. Shri Alok Vardhan Chaturvedi, DG, DGFT 3. Shri Bidyut Behari Swain, Additional Secretary, Department of Commerce 4. Shri Senthil Nathan S, Deputy Secretary, Department of Commerce. 5. Smt. Deepshikha Sharma, OSD, ITA-I CBDT, Department of Revenue, Ministry of Finance. 6. Dr. Prem Verma, ADG, DGEP, CBIC 7. Shri Saroj Kumar Behera, Additional Commissioner , DGEP, CBIC 8. Ms. R. Mythili, Under Secretary, DIPP 9. Shri Anil Kant Mishra, Research Assistant TCPO, Ministry of Urban Development, Vikas Bhawan, I.P. Estate, New Delhi 10. Shri Vivek Kumar, Assistant Director, Ministry of Environment, Forest and Climate Change. 11. Shri R.C. Dahra, Consultant, O/o Director Industries Department, Haryana 12. Shri Gurpre ..... X X X X Extracts X X X X X X X X Extracts X X X X
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