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TMI BlogMinutes of the 104th meeting of the Board of Approval for SEZ held on 28th May, 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 ..... fter deliberations, approved extension of validity of the LoA for a period of one year, i.e. up to 26.10.2021. 104.2(ii) Request of M/s ECGC Limited, a unit in GIFT SEZ for extension of the validity of LoA in multi-services SEZ at Ratanpur, District Gandhinagar, Gujarat developed by M/s GIFT SEZ Ltd. The Board, after deliberations, approved extension of validity of the LoA for a period of one year, i.e. up to 28.06.2021. Item no. 104.3 Change in name/shareholding pattern/merger-demerger (four proposals) 104.3(i) Proposal of M/s Bayline Infocity Limited, developer of Bayline Infocity SEZ at Old Mahabalipuram Road, Chennai, Tamil Nadu for change of shareholding pattern and appointment of new directors. DC, MEPZ informed the Board that M/s KKN Holdings Pvt. Ltd., existing shareholder has amicably settled the dues and do not have an objection to the proposed change in shareholding pattern of M/s Bayline Infocity Ltd. It was further stated that the withdrawal petition filed by the individual investors before the NCLT, Chennai Bench is listed for hearing on 09.06.2021. The Board noted that the matter is sub-judice and the outcome of the petition remains uncertain ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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, 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. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that it should be ensured that the allowed item is actually used in the SEZs and all the environmental and other relevant regulations are complied with. 104.4(ii) Request of M/s Jenya, Plot no.10, EPSEZ, Gandhinagar for procurement of raw material for the purpose of building construction in Electronic Park SEZ, Gandhinagar. The proposal from DC, KASEZ for ratification of approval granted by DC office to procure various materials for the purpose of building construction in Electronic Park SEZ, Gandhinagar which included 250 Tonnes of River Sand (HSN Code 25051020) was placed before the BoA. 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 items viz. sand, soil etc. 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 with. 104.4(iii) Procurement of Sand/Soil by Kandla SEZ units and ratification of approval granted under Delegation of Powers granted to Development Commissioner. The proposal from DC, KASEZ for ratificati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... res Sand 3 trucks 13.01.2021 17. Texwool Spinners and Clothing Sand 10 dumpers 13.01,2021 18. Satguru Polyfab Pvt. Ltd. Sand 60 MT 15.01.2021 19. GKN Enterprises Sand 100 trucks 28.01.2021 20. Texpoly Impex Sand 3 dumpers 28.01.2021 21. Jay Bholenath Waybridge Sand Aggregate Blocks Cement TMT Steel Bars 10 trucks (120 MT) 10 trucks (120 MT) 1 truck 1 truck 1 truck 29.01.2021 22. Strands Textile Mills Pvt. Ltd. Sand 10 MT 02.02.2021 23. Rekha Superfine Exporters Sand 2 tractors 02.02.2021 24. Galentic Pharma (India) Pvt. Ltd. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... owed items are actually used in the SEZs and all the environmental and other relevant regulations are complied with. 104.4(v) Proposal of M/s Vidhi Specialty Food Ingredients Limited, a unit in Dahej SEZ for procurement of restricted items for SEZ unit infrastructure development and repairing facility in terms of Rule 27 of the SEZ Rules 2006. The proposal from DC, Dahej SEZ for ratification of approval granted by DC office for procurement of following items was placed before the BoA: Description Estimated Quantity Sand (including sand used RMC) 5500 MT Crushed Stone (including stone used for RMC, Road) 7000 MT Granite Stone 20MT Cement 2000 MT 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 items viz. sand, soil etc. subject to the condition that it should be ensured that the allowed items are actually used in the SEZs and all the environmen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ccordance with DoC's Instruction no. 98 dated 29.08.2019. 104.6(ii) Request of M/s State Industries Promotion Corporation of Tamil Nadu Limited for co-developer status in the IT/ITES Electronic components and Hardware manufacturing and related services SEZ developed by M/s. Flextronics Technologies India Pvt. Ltd. at SIPCOT Industrial Park, Phase II, Sandavellur C Village, Sriperumbudur Taluk, Kancheepuram District. The Board, after deliberations, approved the proposal of M/s. State Industries Promotion Corporation of Tamil Nadu Limited to undertake basic infrastructure facilities in the 60.73 ha of notified area out of total notified area of 76.14 ha viz. roads, storm water drains facility, street lights, water supply distribution lines, avenue plants etc. for facilitating the industrial units proposed to be set up within the said 60.73 ha of notified area subject to execution of necessary co-developer agreement with the developer and compliance with relevant provisions of SEZ Act and Rules. The lease period shall be in accordance with DOC' s Instruction no. 98 dated 29.08.2019. 104.6(iii) Request of M/s. Finefacilis Management Private Limited for co-develope ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rea of 50.58 Ha. The Board, after deliberations, decided to grant an in-principle approval to the developer. 104.8 Miscellaneous cases (one proposal) 104.8(i) Proposal of plastic recycling and worn and used clothing units in Kandla, Falta and Noida SEZs for renewal of their Letter of Approval in terms of Rule 18(4) (a) (c) of the SEZ Rules, 2006. The Board noted that the revised policy for worn/used clothing and plastic recycling units in SEZs was finalized in consultation with the stakeholders, approved by the Competent Authority and circulated by the Department of Commerce vide letter dated 27.05.2021. The LoA of total 48 such units as detailed below is to expire on 30.06.2021 : Worn/used clothing Plastic recycling Kandia SEZ 17 23 Falta SEZ 1 6 Noida SEZ - 1 The revised policy circulated vie DOC letter dated 27.05.2021 stipulates as follows. A. Worn and Used Clothing units: 1. Setting up of new units in SEZ/EOUs is not allow ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1.2021 by the MoEF CC. The concerned Development Commissioners should ensure that the units fulfil all other criteria and there is no violation of SEZ Act/Rules . The Development Commissioners shall also ensure that the units shall comply with obligation under any other legislation as well as compliance with payment of all the Government dues including rent and penalties, if any, imposed by competent authority under any statue before granting formal orders and renewal. Further, it may also be ensured that the policy conditions are strictly adhered to. Decision on Supplementary Agenda Item no. 104.9 Extension of validity of LoA (one proposal) 104.9 (i) Extension of LoA issued to M/s. Amtech Electronics (India) Ltd., Plot No. 5, 6 7, GIDC- Electronic Park SEZ, Gandhinagar on 07.09.2009. The Board noted that even after a lapse of 12 years since the LoA was granted, the unit had failed in their commitment of construction/commencement of production. The LoA of the unit deemed to have been lapsed on 08.05.2014 and accordingly, the Board decided to reject the request of the unit for renewal of LoA. The Board noted that they have applied afresh for setting up a un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been constructed over the canal which is already under usage by the developer. As regards reservations on contiguity, DC informed the Board that though the proposed land parcels are in bits and pieces, the contiguity is not compromised. The Board, after deliberations, noted that besides the issue of temple land and the canal, there are also a few patches of non-notified land enclosed within the current notified land of SEZ. The Board decided to defer the proposal and directed DC, MEPZ to examine the issues comprehensively and furnish a clear inspection report so that the proposal may be considered by the Board. 104.12 Miscellaneous cases (two proposals) 104.12(i) Proposal of M/s Pfizer Healthcare India Pvt. Ltd. (formerly M/s Hospira Healthcare India Pvt. Ltd.), a unit in M/s Ramky Pharma City Pvt. Ltd. SEZ for extension of the block period for calculation of NFE in terms of Rule 53 of the SEZ Rules, 2006. The Board noted that the proviso under Rule 53 of the SEZ Rules, 2006 stipulates that where a unit is unable to achieve NFE due to adverse market conditions or any ground of genuine hardship having adverse impact on functioning of the unit, the five years block pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d 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, 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. ***** ANNEXURE - I List of Participants for the Meeting of the Board of Approval for Special Economic Zones held on 28th May, 2021 under the Chairmanship of Commerce Secretary, Department of Commerce. 1. Shr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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