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TMI BlogMinutes of the 102nd meeting of the Board of Approval for SEZ held on 6th January, 2021 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 ..... .e. upto 25.10.2021. The Board, after deliberations, approved extension of the validity of the LoA up to 25th October, 2021. 102.2(ii) Request of M/s. Ganesh International Financial Services (IFSC) Pvt. Ltd., for 3rd extension of the validity of Letter of Approval in Multi Services SEZ at Ratanpur, District Gandhinagar, Gujarat, developed by M/s. GIFT SEZ Ltd. The Board, after deliberations, approved extension of the validity of the LoA up to 8th February, 2021. 102.3 Proposal for change in shareholding pattern/ name/change of control/merger (five proposals) 102.3 (i) Request of M/s Cessna Garden Developers Pvt Ltd., Developer of an IT/ITES SEZ located at Kadubeesanhalli Village, Varthur Hobli, Marathahalli-Sarjapura Outer Ring Road, Bangalore for change of shareholding pattern and change of directors. The Board, after deliberations, approved the proposal for change of shareholding pattern and change of directors subject to approval by relevant statutory body with the following conditions:- i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered developer entity; ii. Fulfilment of all eligibility cr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. 102.3(iii) Request of M/s. Ace SEZ Developers Pvt. Ltd, Co-Developer in M/s. Phoenix Tech Zone Pvt. Ltd, IT/ITES SEZ at Sy. No. 115/35, Nanakramguda Village, Serilingampally Mandal, Ranga Reddy District, Telangana for transfer of ownership of their Co-Developer company. The Board, after deliberations, approved the proposal for transfer of ownership of their Co-Developer company subject to approval by relevant statutory body with the following conditions:- 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-developer entity and its constituents; iii. Applicability of and compliance with all relevant rules of Revenue/Company Affairs/SEBI etc., which regulate issu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncluding those relating to lease of land, as applicable. vii. The co-developer shall furnish details of PAN and jurisdictional assessing officer of the codeveloper to CBDT. 102.3(v) Request of M/s. Phoenix IT Infrastructure India Pvt. Ltd, Co-Developer in M/s. Phoenix Infocity Pvt. Ltd, IT/ITES SEZ at Sy. No. Gachibowli Village, Serilingampally Mandal, Ranga Reddy District, Telangana for transfer of ownership of their Co-Developer company. The Board, after deliberations, approved the proposal for transfer of ownership of their Co-Developer company subject to approval by relevant statutory body with the following conditions:- 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-developer entity and its constituents; iii. Applicability of and compliance with all relevant rules of Revenue/Company Affairs/SEBI etc., which regulate issues like capital gains, equity change, transfer, taxability etc. iv. Full financial details relating to change in equity/merger, de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... area, operation and maintenance of infrastructure and leasing of floors to SEZ units. The Board noted that DC, SEEPZ informed about the request of the Unit for the withdrawal of instant proposal. The Board, after deliberations, allowed the unit to withdraw the proposal. 102.4(iv) Request of M/s. Wegmans Trustone Properties LLP for Co-developer status in the IT/ITES SEZ of M/s. Artha Infratech Pvt. Ltd. located at Plot No. 21, Sector-Techzone IV, Greater Noida (Uttar Pradesh). The Board, after deliberations, approved the proposal of M/s. Wegmans Trustone Properties LLP for co-developer status for conversion from warm shell to total ready to move in infrastructure to be leased out to various SEZ units for export including maintaining and managing facility management [Two floors (7th 8th floor) of Tower No.1 of approx. 64,820 Sqft. Super area in the Processing area of IT/ITES SEZ] in accordance with the co-developer agreement dated 11.11.2020 entered into with the developer, subject to compliance with relevant provisions of SEZ Act Rules. The lease period, wherever applicable, shall be in accordance with DoC's Instruction no. 98 dated 29.08.2019. 102.5 Requ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m Quantity Value (in Rs.) 1 M/s. Phoenix Spaces Pvt. Ltd, Developer, IT/ITES SEZ at Sy. No. 285, Puppalgu illage, Rajendra Nagar Mandal, Ranga Redd District, Telangana Crushed Sand 20,000 MT 1,09,20,000/- 2. M/s. Phoenix Spaces Pvt. Ltd, Developer, IT/ITES SEZ at Sy. No. 286 287, Puppalguda Village, Rajendra Nagar Mandal, Ranga Redd District, Telangana. Crushed Sand 692.50 MT 6,57,875/- 3. M/s. Phoenix IT City Pvt. Ltd, Developer IT/ITES SEZ at Sy. No. 53/paiki/part, Gachibowli Village, Serilingampally Mandal, Ranga Reddy District, Telangana. Robo Sand 3500 MT 2,10,000/- The Board, after deliberations, decided to approve the proposal i.r.o. listed developers in light of DoC's instruction dated 18.05.2020 subject to the condition that it should be ensured that the allowed items are actually used in the SEZs and all the environmental and other relevant regulations are complied wit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 102.6(iii) Proposal of M/s Tatva Chintan Pharma Chem Pvt. Ltd. for the procurement of restricted items for SEZ Infrastructure development repairing facility in terms of Rule 27 of SEZ Rules, 2006. The proposal of DC, Dahej SEZ for ratification of approval granted by the DC office for procurement of following items to the unit was placed before the BoA: Description Estimated Quantity Stones Aggregates 980 MT SAND 820 MT Quarry Spall (Yellow Stone) 315 MT GSB Material (Small Stones mixing with Dust- Use for filling base to make road) 215 MT Metal (Black Medium Size Stone) 160 MT Bricks 81900 Nos The Board, after deliberations, decided to ratify the approval granted by the Development Commissioner under DoC's instruction dated 18.05.2020 for procurement of restricted item viz. sand, soil etc. subject to the condition that it should be ensured that the allowed items are actually used in the SEZs a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 02.7(iii) Proposal of plastic recycling and worn and used clothing units in Kandla, Falta and Noida SEZs for renewal of their Letter of Approval. The Board noted that the draft roadmap/policy framework for SEZ units engaged in recycling of plastic and worn and used cloth has been circulated to the stakeholder Ministry/Department(s) viz. Department of Revenue, M/o Environment, Forest and Climate Change, Ministry of Textiles for their comments by the Department of Commerce (DoC) on 21.12.2020. DoC is yet to receive inputs from all stakeholders. The Board, after deliberations, decided to grant an extension of LoA to the 47 existing plastic recycling and worn and used clothing units in SEZs viz. NSEZ, FSEZ and KASEZ in terms of Rule 18(4) of the SEZ Rules, 2006 for a further period of six months upto 30.06.2021 subject to clearance of all government dues including penalties and rents by the unit. The aforesaid extension shall also subject to the notification of amendments in relevant rules by Ministry of Environment, Forests Climate Change (MoEFCC) and the subsequent finalisation of policy by the Department of Commerce (DoC) in this regard. All the concerned Development Commis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 53 of the SEZ Rules, 2006. No export has been done by the unit since inception. The Board, after deliberations, therefore decided to reject the appeal. Decision on Supplementary Agenda 102.9 Proposal for change of shareholding pattern/ merger/de-merger (four proposals) 102.9(i) Request of M/s Aspen Infra Padubidri Private Limited., Developer for change of shareholding pattern and change of Board of Directors. The Board, after deliberations, approved the proposal of the developer for change of shareholding pattern and change of Board of Directors. As per DC, CSEZ, the developer has intimated about 100% transfer of shares to M/s Ind-lnfra Developers Pvt. Ltd. (formerly known as M/s Atulya Renewables Pvt. Ltd.). The developer has also intimated about the transfer of 100% shares of M/s Ind-lnfra Developers Pvt. Ltd. to M/s Ajanta Manufacturing Pvt. Ltd., Shri Jayasukhbhai Odhavijibhai Bhalodia and Shri Chintan Jayasukhbhai Bhalodia. Post transfer of its shares, the Board of Directors of M/s Aspen Infra Padubidri Pvt. Ltd. is as follows: 1. Chintan Jayasukhbhai Bhalodia 2. Manoj Kumar Hasmukhbhai Modi M/s Aspen Infra Padubidri Pvt. Ltd. will continu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. 102.9(iii) Request of M/s Divyasree NSL Infrastructure Pvt. Ltd. for demerger of 'Orion-II Undertaking' forming part of their SEZ to Ms. Midas Projects Pvt. Ltd. The Board, after deliberations, approved the proposal for demerger of 'Orion-II Undertaking' forming part of the SEZ to Ms. Midas Projects Pvt. Ltd., co-developer with the 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8th, 9th floor, Block A, 4th Floor, Block B, 14th Floor. Block C, building No. 6, IT/ITES SEZ of DLF cyber City Developers Ltd., Sector-24 25A, DLF Phase-III, Gurgaon, Haryana against the decision of the UAC, NSEZ in its meeting dated 26.08.2020. 102.11(ii) Appeal dated 24.12.2020 filed by M/s Optum Global Solutions (India) Private Limited located at 4th 5th Floor of Block 2 of Phase-I IT/ITES SEZ of M/s ITPG Developers Private Limited, Village Behrampur, Gurgaon, Haryana against the decision of the UAC, NSEZ in its meeting dated 26.08.2020. 102.11(iii) Appeal dated 24.12.2020 filed by M/s Optum Global Solutions (India) Private Limited located at Ground to 3rd Floor 6th to 9th Floor of Block 2 of Phase-I and Ground Floor in Block 1 of Phase I, IT/ITES SEZ of M/s ITPG Developers Private Limited, Village Behrampur, Gurgaon, Haryana against the decision of the UAC, NSEZ in its meeting dated 26.08.2020. 102.11(iv) Appeal dated 24.12.2020 filed by M/s Optum Global Solutions (India) Private Limited located at ground to 4th Floor, Tower D, Oxygen Business Park Pvt. Ltd., IT/ITES SEZ, Plot no. 7, Sector -144, Noida, UP against decision of the UAC, NSEZ in its meeting ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and UAC, VSEZ to reconsider the case on merit after giving necessary hearing opportunity to the unit and issue a speaking order. ****** ANNEXURE - I List of participants for the Meeting of the Board of Approval for Special Economic Zones held on 6th January, 2021 under the Chairmanship of Commerce Secretary, Department of Commerce. 1. Shri Anup Wadhawan, Chairman, BoA Commerce Secretary, Department of Commerce 2. Shri S. Kishore, Additional Secretary, Department of Commerce. 3. Shri Amit Yadav, DG, DGFT 4. Shri Amitabh Kumar, Joint Secretary, Department of Commerce. 5. Shri A. Bipin Menon, Development Commissioner, Noida SEZ. 6. Shri Senthil Nathan S, Director, Department of Commerce. List of participants connected with Video Conferencing. 1. Shri Ram Chancier Sankhla, Pr. ADG, DGEP/CBIC. 2. Shri Saroj K. Behera, Additional Director, DGEP. 3. Dr. Amiya Chandra, Development Commissioner, KASEZ/ Adani Port SEZ, Mundra. 4. Shri Shanmuga Sundaram, Development Commissioner, MEPZ. 5. Shri D.V. Swamy, Development Commissioner, CSEZ. 6. Shri A. Rama Mohan Reddy, Development Commissioner, Visakhapatnam SEZ. 7. Shri D. Anandan, Devel ..... X X X X Extracts X X X X X X X X Extracts X X X X
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