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TMI BlogMinutes of the 93rd meeting of the. Board of Approval for SEZ held on 15th November, 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 ..... evelopers Limited (TDL) to transfer the optionally convertible debentures to acquire viz. BREP Asia II Indian holding to M/s I(NQ) PW. Ltd Singapore and M/s Sattva Developers Pvt. Ltd. Concerned, no approval was given for the time being. However, as per the Minutes circulated, this point (IInd part of point no. 92.5(iv) stands delegated to concerned Development Commissioner to approve the proposed changes with certain conditions. The Board. after deliberations, decided to replace the last paragraph of the minutes in respect of Agenda item no. 92.5(iv), viz., Further, the Board authorized the DC, CSEZ to approve the proposed change in Phase-II subject to the applicant fulfilling the above conditions as applicable. with the following paragraph: Further, the proposal for proposed change in control in Phase II may be placed before the Board of Approval by DC, CSEZ as and when the applicant fulfils the applicable conditions. Item No.93.2: Request for extension of validity of formal approvals (One proposal) 93.2 (i) Request of M/s. Gopalan Enterprises (India) Private Limited (Fortune City) for further extension of the validity period of formal approval, granted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... c., 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. 93.4(ii) Request of M/s. Deccan Fine Chemicals (India) Pvt. Ltd., a sector specific SEZ for Chemical and Pharmaceutical at Sy. 84-93 108, Kesavaram Village, Sy No. 146,149 150 Rajavaram Village, Payakaraopeta Mandal, Visakhapatnam Dist., Andhra Pradesh for change in shareholding pattern. The Board. after deliberations, approved ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ails 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. 93.4(iv) Request of Madhya Pradesh Audyogik Kendra Vikas Nigam (Indore) Ltd., Developer of multi-product Indore SEZ at Villages Akolia, Bardari, Kali-Billod, Jamodi and Kheda at Pithampur, Distt. Dhar for change of name in LoA and change of shareholding pattern. The Board, after deliberations. approved the proposal for change of name of the Developer from Madhya Pradesh Audyogik Kendra Vikas Nigam (Indore) Ltd. to M.P. Industrial Development ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. 93.4(vi) Request of M/s. Laxmipati Balaji Supply Chain Management Limited, a co-developer in M/s. Arshiya Limited for FTWZ at Panvel, Raigad, Maharashtra for change in shareholding pattern of the company. The Board, after deliberations, approved the proposal subject to approval by relevant statutory bodies with the 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 e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ii. Clearance of imported used cooking oil to DTA shall not be allowed. BOA directed that DC shall ensure compliance of the above conditions by the unit. 93.5(iv) Writ Petition (Civil) No. 13841/2018 filed by M/s Jagat Gems and Jewellery Vs Union of India and others before the Hon'ble High Court of Delhi. The Board, after deliberations, decided to grant an extension of three years extendable upto five years to the unit subject to annual review of milestones achieved and compliance of all regulatory aspects. 93.5(v) Request of M/s. Vedanta Limited - SEZ unit, at Jharsuguda, Odisha for local procurement of Calcined Petroleum Coke. The Board, after deliberations, approved the request of the unit. 93.5(vi) Proposal of M/s TPI Composites Inc. for setting up a manufacturing facility in Chennai adjacent to SIPCOT SEZ, Sriperumbudur. The Board, after deliberations, decided to defer the matter with the directions that the company should come up with a reasonable plan for a permanent solution, for an alternate access to the national highway which would not pass through the SEZ area, in consultation with the State Government within a reasonable time frame. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... di, Phase-I, Puneover an area of 10 Ha. Item No. 93.9 Request from Co-developer for amendment in LoA (one proposal) 93.9(i) Proposal of M/s. Arshiya Northern Projects Pvt. Ltd., Co-developer of Free Trade and Warehousing Zone of M/S. Arshiya Northern FTWZ Ltd. at Village Ibrahimpur, Junaidpur urf Maujpur, Tehsil Khurja, Distt. Bulandshahr (U.P.) for deletion of Warehouse No. 52 53 from its LOA dated 29.11.2018 The Board, after deliberations, approved the proposal of the co-developer for deletion of warehouse No. 52 53 from its LoA dated 29.11.2018. As such, the revised authorized operation of the co-developer will be Operation, maintenance and leasing of warehouse no.54 constructed on land admeasuring 1.18 hectare . Item No. 93.10 Miscellaneous Cases (4 cases) 93.10(i) Request of M/s Gujarat Credo Alumina Chemicals Pvt. Ltd. to permit consumption of non - BIS marked Caustic Soda Lye (4008 MT) imported vide B.E. No. 1001643 dated 14.05.2019, Qty 2008 DMT (4008LMT) for manufacturing of ATH, exclusively meant to be exported through SEZ Unit. The Board, after deliberations decided to defer the matter with the directions that DC, Adani Ports SEZ may furn ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with the Committee on policy for plastic recycling and worn and used clothing units. 93.10 (iv) Request of M/s. TATA Consultancy Services Limited seeking formal approval for a Sector Specific SEZ for IT/ITES at Plot Nos: H-II/1B H-11/2 in SIPCOT IT Park, Siruseri, Kancheepuram District, Tamil Nadu over an area of 7.39 Ha (18.27 Acres) The Board, after deliberations. approved the proposal of the developer for 'formal approval for setting up of a sector specific Special Economic Zone for ITATES at Plot No. H-11/2. admeasuring the contiguous area of 10.25 acres (4.15 hectares). No SEZ related activity involving SEZ benefits / setting up of units etc., will be approved on the other plot H-11/1B unless the condition of contiguity is complied with by the developer as decided during the 92 nd meeting of BoA. The request for setting up of unit with an Initial Development Centre (IDC) is within the purview of the UAC, MEPZ. ****** ANNEXURE - I List of Participants for the Meeting of the Board of Approval for Special Economic Zones held on 15 th November, 2019 under the Chairmanship of Commerce Secretary, Department of Commerce. 1. Shri Anup Wadhawan, Chair ..... X X X X Extracts X X X X X X X X Extracts X X X X
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