TMI BlogMinutes of the 59th meeting of the SEZ Board of Approval held on 30th August 2013 to consider proposals for setting up Special Economic Zones and other miscellaneous proposalsX X X X Extracts X X X X X X X X Extracts X X X X ..... financial year, up to 30.06.2013, have been to the tune of ₹ 1,13,299 crores registering a decline of 4.25% over the exports of the corresponding period of FY 2011-12. Item No. 59.1: Proposals for setting up of SEZs (i) Proposal of M/s. Transcendent Developers Pvt. Ltd., for setting up of a sector specific Special Economic Zone for IT/ITES at Wagholi Bhavadi, Taluka Haveli, Dist. Pune, Maharashtra, over an area of 13.01 hectares The Board noted that DC SEEPZ had sought for certain information/documents from the developer and had not furnished its recommendations to the above proposal. Accordingly, the Board decided to defer the proposal. (ii) Proposal of M/s. iGate Global Solutions Ltd., for setting up of a sector specific Special Economic Zone for Electronic Hardware Software including ITES at Plot No. IT-3, IT-4, Airoli Knowledge Park, TTC Industrial Area, MIDC, Navi Mumbai, over an area of 14.17 hectares The Board noted that the Developer was in possession of the land. The Board was also informed that the land was in the name of M/s Patni Computers Ltd which later became M/s iGate ..which was merged with M/s iGate Global Solutions Ltd. The Gov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... co-developer All BoA sanctioned approvals to co-developers are subject to the condition that particular terms and conditions of lease agreement/co-developer agreement will not have any bearing on the treatment of the income by way of lease rentals/down payment/premium etc., for the purposes of assessment under the prevalent Income Tax Act and Rules . The Assessing Officer, will have the right to examine the taxability of these amounts under the SEZ Act and Income Tax Act as applicable. This is applicable to all the cases of co-developers approved by the BoA in this meeting. The Board further directed that proposals for grant of codeveloper status should be accompanied by lease deed/draft lease deed which must inter-alia contain the details of financial transactions/arrangements between developer and proposed co-developer. The decision of the BoA on the proposal is as under:- Request of M/s. DLF Utilities Ltd. for co-developer in the sector specific SEZ for IT/ITES at New Town, Rajarhat, Kolkata, West Bengal, being developed by M/s. DLF Limited After deliberations, the Board approved the request of M/s. DLF Utilities Ltd. for becoming a co-developer in the above ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... approved the following authorized operations in the processing area:- (i) Development and/or Operation and maintenance of SEZ buildings (ii) Engineering Maintenance including electrical and mechanical works; heating, ventilation and air conditioning (HVAC) systems; fire detection Alarm Systems, water supply, storm drainage and sewage disposal, building upkeep services including maintenance of lift, lobby, conference hall, parking area utility area, garbage and scrap disposal, horticulture, pest control, fa ade cleaning services. (iii) Security services (iv) Fire life safety measures The above approval would be subject to the condition that the above authorized operations shall be available for use of the SEZ only and there would be proper delineation of assets between the developer and co-developer. Further that the developer/co-developer would submit a revised bond cum LUT for change in projections. (iii) Proposal of M/s. DLF Utilities Limited, a co-developer in sector specific SEZ for IT/ITES at Sector 24 25 A, DLF Cyber City, Gurgaon, Haryana developed by M/s. DLF Cyber City Limited for inclusion of additional authorized operation in the processing area of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Pvt. Ltd. for setting up of sector specific SEZ for Multi Services at Village Sarang, Taluka Khalapur, District Raigad, Maharashtra The Board decided to approve the request of M/s. Claridges SEZ Developers Pvt. Ltd. for withdrawal of formal approval granted to them for setting up of sector specific SEZ for Multi Services at Village Sarang, Taluka Khalapur, District Raigad, Maharashtra, over an area of 108 hectares. The approval is subject to the DC furnishing a certificate in the prescribed format certifying that the developer has either not availed any tax/duty benefits under SEZ Act / Rules or has refunded any such benefits availed by it and subject to the State Govt furnishing its no objection certificate to the proposal. Item No. 59.6: Requests for de-notification (i) Request from M/ Khed Economic Infrastructure Pvt. Limited, developer of Multi-product SEZ at Taluka Shirur and Khed District, Pune, Maharashtra for: (a) Decrease in the notified area of 1000 ha to 100 ha and; (b) Retention of balance 100 ha as Sector Specific SEZ i.e. Engineering Electronics. The Board decided to approve the request of M/ Khed Economic Infrastructure Pvt. Limited, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... halapur, Dist. Raigad, Maharashtra, for de-notification of its SEZ notified over an area of 14-43-2 hectares. The Board decided to approve the request of M/s. Uttam Galva Steel Ltd., a sector specific SEZ for IT/ITES at Village Dahivali, Taluka Khalapur, Dist. Raigad, Maharashtra, for de-notification of its SEZ notified over an area of 14-43-2 hectares. The approval is subject to the DC furnishing a certificate in the prescribed format certifying that the developer has either not availed any tax/duty benefits under SEZ Act / Rules or has refunded any such benefits availed by it and subject to the State Govt furnishing it s no objection certificate to the proposal. Chairman of the Board directed that in all such cases information must invariably be sent to CBDT and CBEC for necessary action. (v) Request from M/s. Uttam Galva Steel Ltd., a sector specific SEZ for Biotechnology at Village Devnave, Taluka Khalapur, Dist. Raigad, Maharashtra, for denotification of its SEZ notified over an area of 10-71-9 hectares. The Board decided to approve the request of M/s. Uttam Galva Steel Ltd., a sector specific SEZ for Biotechnology at Village Devnave, Taluka Khalapur, Dist. Ra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for necessary action. Item No. 59.7 : Requests for extension of validity of formal approvals from 5th to 7th year BoA in its meeting held on 14th September, 2012, examining similar cases observed as under: - The Board advised the Development Commissioners to recommend the requests for extension of formal approval beyond 5th year and onwards only after satisfying that the developer has taken sufficient steps towards operationalisation of the project and further extension is based on justifiable reasons. Board also observed that extensions may not be granted as a matter of routine unless some progress has been made on ground by the developers. The Board, therefore, after deliberations, extended the validity of the formal approval to the requests for extensions beyond fifth years for a period of one year and those beyond sixth year for a period of 6 months from the date of expiry of last extension . (i) Request of M/s. DLF Info Parks (Pune) Limited (formally known as M/s. DLF Ackruti Info Parks (Pune) Limited for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for IT/ITES at Rajiv Gandhi Infotech Park, Phase - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for Multi Services with International Financial Services Centre at GMR Hyderabad International Airport, Shamshabad, Hyderabad, beyond 24th June 2013 The Board after deliberations extended the validity of the formal approval for one year up to 24th June, 2014. (viii) Request of Andhra Pradesh Industrial Infrastructure Corporation Ltd. (APIIC) Ltd. for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for IT/ITES at Madikonda Village, Hanamkonda Mandal, Warangal District, Andhra Pradesh, beyond 25th June 2013 The Board after deliberations extended the validity of the formal approval for one year up to 25th June, 2014. (ix) Request of M/s. Velankani Technology Park (P) Ltd. for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for Electronic Hardware and Software including ITES at Sriperumbudure, Chennai, Tamil Nadu, beyond 22nd May 2013 The Board after deliberations extended the validity of the formal approval for one year up to 22nd May, 2014. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The Board after deliberations extended the validity of the LoP for a period of one year up to 2nd August, 2014. (iv) Request of M/s Air India Limited, a unit in MIHAN SEZ for extension of validity period of its LoP beyond 31st August 2013 The Board after deliberations extended the validity of the LoP for a period of one year up to 31st August, 2014. Item No. 59.10 : Cases for ratification of Miscellaneous cases for LoA extensions (i) Request of M/s. Gopalpur SEZ for fourth extension of validity period of its formal approval for setting up a multi product SEZ at Gopalpur, District Gangam Orissa beyond 17th June, 2013 The Board after deliberations ratified the decision of Department of Commerce to extend the validity period of formal approval up to 17th June, 2014. (ii) Request of M/s. Metro Valley Corporation for seeking extension of validity period of its formal approval for setting up of a sector specific SEZ for IT/ITES SEZ at 5th Milestone, Village Gwal Pahari, Gurgaon, Haryana beyond 5th May 2013 The Board after deliberations ratified the decision of Department of Commerce to extend the validity period of formal approval up to 5th November, 2013 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g officer under the Income Tax Act, 1961 , shall have the right to assess the taxability of the amount arising out of the transfer of equity. (vi) The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. (iii) Request of M/s. Tech Mahindra Ltd., Mumbai for transfer of co-developer status granted to M/s. Satyam Computer Services Limited, operating as co-developer in ELCOT IT/ITES SEZ at Sholinganallur, Kancheepuram District, Chennai, Tamil Nadu consequent upon their merger The Board after deliberations approved the request of M/s. Tech Mahindra Ltd., Mumbai for transfer of co-developer status granted to M/s. Satyam Computer Services Limited, operating as co-developer in ELCOT IT/ITES SEZ at Sholinganallur, Kancheepuram District, Chennai, Tamil Nadu consequent upon their merger, subject to following conditions: (i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered developer entity; (ii) Fulfillment of all eligibility criteria applicable to developers, including security clearances etc., by the altered developer entity and its constituents; ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dal, RR. Dist. Hyderabad consequent upon their merger The Board after deliberations approved the request of M/s. Tech Mahindra Ltd., for transfer of formal approval granted to M/s. Satyam Computer Services Limited, developer of sector specific SEZ for IT/ITES SEZ at Plot No. 23-34, Hi-tech City, Madhapur, Serilingampally Mandal, RR. Dist. Hyderabad consequent upon their merger, subject to following conditions: (i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered developer entity; (ii) Fulfillment of all eligibility criteria applicable to developers, including security clearances etc., by the altered developer entity and its constituents; (iii) Applicability of and compliance with all Revenue / Company Affairs /SEBI etc. rules which regulate issues like capital gains, equity change, transfer, taxability etc. (iv) Full financial details relating to the transfer of equity shall be furnished immediately to the Member (IT) CBDT, Department of Revenue. (v) The assessing officer under the Income Tax Act, 1961 , shall have the right to assess the taxability of the amount arising out of the transfer of equity. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed. Accordingly, the Board after deliberations deferred the proposal. (viii) Request for change in sector in respect of sector specific Petrochemicals and Petroleum SEZ at Baikampady, Mangalore, developed by M/s Mangalore SEZ, Mangalore The Board after deliberations decided to approve the request for change in sector in respect of sector specific Petrochemicals and Petroleum SEZ at Baikampady, Mangalore, developed by M/s Mangalore SEZ, Mangalore from sector specific SEZ to Multi Product SEZ. Item No. 59.13 : Appeals before BoA (i) Appeal of M/s. Tata Consultancy Services Limited, a unit (1) in IT/ITES SEZ set up by M/s. CMC Limited at Gachibowli, Hyderabad against order dated 28th June 2013 of the UAC (ii) Appeal of M/s. Tata Consultancy Services Limited, a unit (3) in IT/ITES SEZ set up by M/s. CMC Limited at Gachibowli, Hyderabad against order dated 28th June 2013 of the UAC (iii) Appeal of M/s. Tata Consultancy Services Limited, a unit (4) in IT/ITES SEZ set up by M/s. CMC Limited at Gachibowli, Hyderabad against order dated 28th June 2013 of the UAC (iv) Appeal of M/s. Tata Consultancy Services Limited, being operated in the IT/ITES SEZ co-devel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Karnataka Udyog Mitra Karnataka Bhavan - 3, Khelgaon Marg, New Delhi 11. Shri O.P. Kapoor, Deputy DG, EPCES 12. Shri S.K. Chhikara, Under Secretary, Ministry of Home Affairs 13. Shri P.K. Gupta, DGM (LS-I), Ministry of Home Affairs. 14. Shri Dharmendra Sharma, Investigator, TCPO, Ministry of Urban Development 15. Shri Dhruv Dhar, OSD, CSIDC, New Delhi 16. Shri Gurpreet Singh, Section Officer, Industries Department, Government of Punjab 17. Dr. S.K. Sahoo, Office of Development Commissioner (MSME), Ministry of MSME, Nirman Bhawan. 18. Shri J.Saini, G.M. Department of Industries Commerce, Government of Punjab 19. Shri A.K. Gupta Chief General Manager, RIICO, Government of Rajasthan, Jaipur, Rajasthan 20. Shri Parthe Tripathy, Odisha Industrial Infra Development Corporation (IDCO), Government of Odisha 21. Shri R.D. Meena, Research Assistant, TCPO, Ministry of Urban Development 22. Shri A.K. Dham, Liaison Officer, IDCO, New Delhi LIST OF DEVELOPMENT COMMISSIONERS 23. Shri Sanjeev Nandwani, Development Commissioner, Falta, Kolkata 24. Shri Jayant Misra, Development Commissioner, Noida SEZ, Uttar Pradesh 25. Shri N.P.S. Monga, Devel ..... X X X X Extracts X X X X X X X X Extracts X X X X
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