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Minutes of the 103rd meeting of the Board of Approval for SEZ held on 18th March, 2021 to consider setting up of Special Economic Zones and other miscellaneous proposals - SEZ - Minutes of the 103rd meeting of the SEZ

Extract

..... (LOA) from 17.7.2020 to 16.01.2022. The Board, after deliberations, approved extension of the validity of the LoA up to 16th July, 2021. 103.2(iii) Request of M/s BEML Limited in the KIADB Aerospace SEZ, Bangalore, Karnataka for extension of Letter of Approval (LOA) beyond 05.01.2021 for a period of one year i.e. upto 04.01.2022. The Board, after deliberations, approved extension of the validity of the LoA up to 4th January, 2022. 103.3 Proposal for change in shareholding pattern/ name/control/merger and de-merger (five proposals) 103.3(i) Request of M/s. Platinum Holdings Private Limited (Developer) for prior approval of BoA for change of shareholding pattern and for appointment of new Directors in the Board. The Board, after deliberations, approved the proposal for change of shareholding pattern and for appointment of new Directors in the Board 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 criteria applicable to developer, including security clearances etc. by the altered developer entity .....

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Minutes of the 103rd meeting of the Board of Approval for SEZ held on 18th March, 2021 to consider setting up of Special Economic Zones and other miscellaneous proposals - SEZ

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..... 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. 103.3(iii) Request of M/s. Embassy Office Park Pvt. Ltd. (Developer) located in Plot No.PL03A, Rajiv Gandhi Infotech Park Hinjewadi, Phase-II, Pune for change in entrepreneur from M/s. Embassy Office Park Pvt. Ltd. to M/s. Embassy Pune TechZone Pvt. Ltd. and in shareholding as a result of Composite Scheme of Arrangement approved by Hon'ble NCLT, Mumbai Bench. The Board, after deliberations, approved the proposal for change in entrepreneur from M/s. Embassy Office Park Pvt. Ltd. to M/s. Embassy Pune TechZone Pvt. Ltd. and change in shareholding pattern with the following conditions:- i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for developer entity; ii. Fulfilment 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 relevant rules of Revenue/Company Affairs/SEB .....

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Minutes of the 103rd meeting of the Board of Approval for SEZ held on 18th March, 2021 to consider setting up of Special Economic Zones and other miscellaneous proposals - SEZ

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..... er to CBDT. 103.3(v) Request of M/s. TAPP Semiconductor India Pvt. Ltd., Co-developer in Electronics/Telecom Hardware Sector SEZ at SIPCOT Industrial Area, Sriperumbudur for prior approval of BoA for change of Share holding Pattern and change in list of holders Compulsorily Convertible Debentures (CCD). The Board, after deliberations, approved the proposal for change of Share holding Pattern, change in list of holders Compulsorily Convertible Debentures (CCD) and the list 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 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 Memb .....

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Minutes of the 103rd meeting of the Board of Approval for SEZ held on 18th March, 2021 to consider setting up of Special Economic Zones and other miscellaneous proposals - SEZ

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..... ight proposals) 103.5(i) Request of M/s Brandix India Apparel City Pvt. Ltd., at Achuthapuram Mandal, Visakhapatnam, Andhra Pradesh for permission for Chain-link fencing. The Board, after deliberations, decided to defer the matter and requested Department of Revenue to review in the light of report of local Customs and further inputs received during the meeting. The Board also directed that the matter may further be processed on file based on the response received from Department of Revenue. 103.5 (ii) Application of M/s Arshiya Northern FTWZ Ltd. for change of sector of its Free Trade Warehousing Zone at Village Ibrahimpur, Junaidpur Urf Maujpur, Bulandshahr (UP) into 'Multi Sector SEZ' in terms of Rule 6(A) (i) of the Rules, 2006. The Board, after deliberations, decided to approve the proposal of the developer for change of sector of its Free Trade Warehousing Zone into 'Multi Sector SEZ' in terms of Rule 6(A) (i) of the SEZ Rules, 2006 subject to the condition that all the terms and conditions prescribed under the SEZ law for setting up of a multi sector SEZ, viz. minimum contiguous land area requirement, minimum processing area requirement, FTWZ area duly demarc .....

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Minutes of the 103rd meeting of the Board of Approval for SEZ held on 18th March, 2021 to consider setting up of Special Economic Zones and other miscellaneous proposals - SEZ

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..... e decision after placing the matter in the Unit Approval Committee. 103.5(vii) Application of M/s VTV Infrastructure Management Private Limited, the Co-developer in M/s Vikas Telecom Pvt. Ltd (Embassy Tech Village SEZ) for surrender of their co-developer status and handover the authorized operations to the Developer, M/s. Vikas Telecom Ltd (Embassy Tech Village SEZ). The Board, after deliberations, decided to approve the request of the co-developer to surrender their co-developer status and handover the authorized operations to the developer. 103.5(viii) Irregularities and compliance issues in the port based SEZ developed by Cochin Port Trust in Puthuvypeen, Ernakulam. The Board heard the developer of the SEZ - Chairperson, Cochin Port Trust who apprised of the ongoing developments in the SEZ. The Board noted that the Department of Revenue in their comments had proposed the following: i. IOCL's co-developer status, vide LOA dated 17.06.2011, should be surrendered u/s 10 of the SEZ Act. Subsequent to that the Developer can allocate the said built up area to IOCL as a unit. The LoA issued on 18.02.2021 by UAC to IOCL may accordingly be examined for compliance under SEZ law as men .....

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Minutes of the 103rd meeting of the Board of Approval for SEZ held on 18th March, 2021 to consider setting up of Special Economic Zones and other miscellaneous proposals - SEZ

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..... e any request for inclusion of an additional input service pertaining to authorized operation of an unit is well within the purview of UAC. Decision on Supplementary Agenda 103.7 Request for extension of LoA beyond 3rd year onwards (one proposal) 103.7(i) Request of M/s. Mundra Solar Limited (MSL), an SEZ Unit in M/s. Adani Ports and SEZ at Mundra for 5th extension of validity of LoA upto 18.04.2022. The Board, after deliberations, decided to defer the matter and directed DC, APSEZ to take note of the observations of DoR and submit a detailed report. 103.8 Change in shareholding pattern (one proposal) 103.8 (i) Request of M/s. Manyata Promoters Private Limited, the Developer of Manyata SEZ, for approval of change of shareholding as a result of Composite Scheme of Arrangement. The Board, after deliberations, approved the proposal of the developer for change of shareholding 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 clearances etc. by the altered developer entity and its constituents; .....

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Minutes of the 103rd meeting of the Board of Approval for SEZ held on 18th March, 2021 to consider setting up of Special Economic Zones and other miscellaneous proposals - SEZ

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..... Wi-Fi, common server rooms, common meeting & conference rooms, common cafeteria, common garden, power back up facilities in accordance with the co-developer agreement dated 10.02.2021 entered into with the developer subject to the condition of exit of the unit after paying all dues to the satisfaction of Development Commissioner and also subject to compliance of the relevant provisions of SEZ Act/Rules. The lease period shall be in accordance with DoC's Instruction no. 98 dated 29.08.2019. 103.9(iii) Request of M/s. Holistic Infra Developers Pvt. Ltd for co-developer status in the M/s. Phoenix Tech Zone Pvt. Ltd SEZ at Sy. No. 115/35, Nanakramguda Village, Serilingampally Mandal, Ranga Reddy District, Telangana for development, operation and maintenance of the SEZ and other activities. The Board, after deliberations, approved the proposal of M/s. Holistic Infra Developers Pvt. Ltd. for construction of IT/ITES building and operating and maintaining the facility within the framework of SEZ in an area of 47,010 sq, ft, on the 15th Floor in Tower-B in the above SEZ in accordance with the co-developer agreement dated 08.02.2021 entered into with the developer, subject to complia .....

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Minutes of the 103rd meeting of the Board of Approval for SEZ held on 18th March, 2021 to consider setting up of Special Economic Zones and other miscellaneous proposals - SEZ

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..... already constructed structure and the developer will not be eligible for any duty benefits till the date of notification of the SEZ. 103.12 Request for change in shareholding pattern (one proposal) 103.12(i) Request of M/s. RMZ Ecoworld Infrastructure Private Limited., Developer SEZ, for change in shareholding pattern due to composite scheme of arrangement. The Board, after deliberations, approved the proposal for in-principle approval for change in shareholding pattern 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 criteria applicable to developer, including security clearances etc. by the altered 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, Departmen .....

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Minutes of the 103rd meeting of the Board of Approval for SEZ held on 18th March, 2021 to consider setting up of Special Economic Zones and other miscellaneous proposals - SEZ

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