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TMI BlogMinutes of the 116th meeting of the Board of Approval for SEZs held on 5th September, 2023 at Vaniiya Bhawan, New DelhiX X X X Extracts X X X X X X X X Extracts X X X X ..... 31st December, 2023. 116.2(ii) Request of M/s GAIL Mangalore Petrochemicals Limited (erstwhile M/s JBF Petrochemicals Limited), for extension of validity of Letter of Approval (LoA) for a period of two years i.e., upto 15.09.2025. The Board, after deliberations, approved extension of validity of LoA upto 15.09.2024. 116.3: Request for Co-developer status (Six proposals) 116.3(i) Request of M/s. Tec City Bullion Refinery Limited for approval as Co-Developer within the processing Area in GIFT-Multi Services SEZ at Ratanpur, District Gandhinagar, Gujarat, developed by M/s. GIFT SEZ Limited. The Board, after deliberations, deferred the proposal for further examination in consultation with DC, GIFT SEZ, particularly with reference to the viability of the refinery operations. 116.3(ii) Request of M/s. Access Healthcare Services Pvt. Ltd. for approval of Codeveloper status in M/s. ELCOT SEZ at Vilankurichi, Coimbatore, Tamil Nadu. The Board, after deliberations, approved the proposal of M/s. Access Healthcare Services Pvt. Ltd. for IT Services, over an area of 0.8094 Ha (2 Acre) in accordance with the Co-developer agreement dated 09.08.2023 entered into with the developer subject to stan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /s Evermark SEZ Developers Pvt. Ltd. for Co-Developer status in M/s. Phoenix Tech Zone Pvt. Ltd SEZ, Sy. No. 115/35 at Nanakramguda Village, Serilingampally Mandal, Telangana. The Board, after deliberations, approved the proposal of M/s. Evermark SEZ Developers Pvt. Ltd. for co-developer status for Upgradation, operation, leasing and maintain the authorized operations, over an area of 46,669 sq. ft. in 5 th Floor in Tower-B of the SEZ, in accordance with the co-developer agreement dated 06.03.2023 entered into with the developer subject to standard terms and conditions as per the SEZ Act and Rules. Further, the Assessing Officer will have the right to examine the taxability of the income by way of lease rentals/down payment/premium etc. for the purpose of assessment under the prevalent Income-tax Act, 1961 and Income-tax Rules, 1962 as amended from time to time. The lease period shall be in accordance with DoC's Instruction No. 98 dated 29th August, 2019. 116.3(vi) Request of M/s Evermark Spaces Pvt. Ltd. for Co-Developer status in M/s. Phoenix Tech Zone Pvt. Ltd SEZ, Sy. No. 115/35 at Nanakramguda Village, Serilingampally Mandal, Telangana. The Board, after deliberations, appr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in GIFT-Multi Services SEZ at Ratanpur, District Gandhinagar, Gujarat, developed by M/s. GIFT SEZ Limited. The Board, after deliberations, approved the proposal of M/s. Bhandari Sangath Builders LLP for an additional area of 97,728.54 square feet area at Plot No. 16C, Block 16 in the Non-Processing Area (dual use) of GIFT SEZ in accordance with the Co-developer agreement dated 29.05.2023 entered into with the developer subject to standard terms and conditions as per the SEZ Act and Rules. Further, the Assessing Officer will have the right to examine the taxability of the income by way of lease rentals/down payment/premium etc. for the purpose of assessment under the prevalent Income-tax Act, 1961 and Income-tax Rules, 1962 as amended from time to time. The lease period shall be in accordance with DoC's Instruction No. 98 dated 29th August, 2019. Furthermore, the area restrictions for duty paid shall be as per the Rule 11A(3)(c) of the SEZ Rules, 2006. The other conditions of the LoA shall remain the same. 116.5: Request for full de-notification of SEZ/FTWZ (one proposal) 116.5(i) Request of M/s. Arshiya Limited for full de-notification of 46.874 Ha of their FTWZ at Village Bori ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ery Powered Electric Vehicle look alike Aston Martin Model DB5 Junior having cost of approx. 35,000/- each car subject to the condition that the Vehicle procured is used for authorised operations within the SEZ premises and shall not leave the premises, except on specific approval of DC/JDC. DC, SEEPZ was directed to ensure compliance. 116.7(iii) Appeal filed by M/s. Plastic Processors Exporter Pvt. Ltd. against the Order dated 21.04.2023 issued by DDC, Noida SEZ regarding non-renewal of their LoA. The submissions made by the Unit were noted by the Board and it is observed that: - i. The Unit was non-functional during the stipulated period of 18 months (i.e., 27th January, 2021 to 26th July, 2022) due to accidental fire in 2019 at their premises. ii. Prior to the fire incident, the Unit was operational effecting exports and maintaining positive NFE. ili. The Unit is now keen on resuming operations and fulfilling all statutory obligations with long term stability and growth. The Board, after deliberations, decided to defer the matter with direction to DOC to collect the details of such Units, in KASEZ and Falta SEZ, which were operational and effecting exports prior to the stipulate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t and Rules. Further, the Assessing Officer will have the right to examine the taxability of the income by way of lease rentals/down payment/premium etc. for the purpose of assessment under the prevalent Income-tax Act, 1961 and Income-tax Rules, 1962 as amended from time to time. The lease period shall be in accordance with DoC's Instruction No. 98 dated 29th August, 2019. Furthermore, the area restrictions for duty paid shall be as per the Rule I IA(3)(c) of the SEZ Rules, 2006. The other conditions of the LoA shall remain the same. 116.9(ii) Request of M/s. Shivalik Jhanvi Infraspace LLP, Ahmedabad for addition of space in the approval as a Co-Developer within the dual use non-processing Area of GIFT-Multi Services SEZ at Ratanpur, District Gandhinagar, Gujarat, developed by M/s. GIFT SEZ Limited. The Board, after deliberations, approved the proposal of M/s. Shivalik Jhanvi Infraspace LLP for an additional area of 6723 sq. meters (approved 5595 square meters + current request for addition/increase of 1 128 square meters to accommodate drive way for fire tender and parking area in accordance with the Co-developer agreement dated 25.05.2023 entered into with the developer subj ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 007, however, it has not become operational yet even after 15 years of its approval. Further, it was not clear from the proposal, whether after the full de-notification, the land to be used by the Developer or the State Government and for what purposes. The Board, after deliberations, deferred the proposal with direction to DC, MEPZ to re-examine the case keeping in view the above aspects. Decision on Supplementary Agenda II: 116.12: Request for addition area of the SEZ (one proposal) 116.12(i) Proposal of M/s. Serum Bio-Pharma Park, an SEZ for Bio-technology at Pune, Maharashtra for increase in area of 3.5968 Ila (beyond 10%) to their already notified area over 12.41360 Ha. The Board, after deliberations, approved the request of M/s. Serum Bio-Pharma Park for increase in area of 3.5968 hectares, subject to contiguity of the land in the SEZ being maintained by the Developer. 116.13: Miscellaneous (one case) 116.13(i) Proposal of M/s. Prompt International Limited, an SEZ unit at Plot no. 119, NSEZ admeasuring 1000 sq. Mtrs. for revival of sick unit in terms of Rule 72(1) of SEZ Rules, 2006. The Board, after, deliberations, deferred the proposal for the next BoA. Decision on Table Ag ..... X X X X Extracts X X X X X X X X Extracts X X X X
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