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TMI BlogMinutes of the 63rd meeting of the Board of Approval for SEZ held on 18th September 2014 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 ..... m No. 63.1: Requests for extension of validity of formal approvals 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. Milestone Buildcon Pvt. Ltd. for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for IT/ITES at Chokkanahalli Village, Bangalore, Karnataka, beyond 29th October 2014 The Board after deliberations extended the validity of the formal approval up to 29th O ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er deliberations extended the validity of the formal approval up to 13th July, 2015. (ix) Request of M/s. Uppal IT Projects Pvt. Ltd. for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for IT/ITES at Plot No. TZ - 07, Sector IT Park, Tech Zone, Greater Noida, beyond 16th March, 2014 The Board noted that the progress made by the developer since the last extension is not satisfactory. The Board, after deliberations, rejected the proposal of further extension and directed that DC, NSEZ will issue show cause notice to the Developer for non implementation of the project. (x) Request of M/s. G.P. Realtors Private Limited for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for IT/ITES at village Behrampur, District Gurgaon, Haryana, beyond 13th November 2014 The Board after deliberations extended the validity of the formal approval up to 13th November, 2015. (xi) Request of M/s. Navi Mumbai SEZ Private Limited for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for IT/ITES-A at Ulwe, Navi Mumbai, Maharashtra, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions extended the validity of the LoP up to 16th December, 2014. (v) Request of M/s. ACN Infotech (India) Private Limited, a unit in the sector specific SEZ for IT/ITES being developed by M/s. APIIC at Hill No. 2, Madhurawada, Visakhapatnam, Andhra Pradesh for extension of Letter of Permission (LOP) beyond 22nd July, 2013 The Board after deliberations extended the validity of the LoP up to 21st January, 2015. (vi) Request of M/s Colour Chips New Media Limited, a unit in APIIC IT SEZ at Madhurvada, Visakhapatnam, Andhra Pradesh for extension of validity period of its LoP beyond 4th March, 2014 The Board after deliberations extended the validity of the LoP up to 4th March, 2015. (vii) Request of M/s Shantha Biotechnics Limited, Unit-1 in M/s Shantha Biotechnics Ltd. SEZ at Muppireddypalli Village, Toopran Mandal, Medak District, Andhra Pradesh for extension of validity period of its LoP beyond 28th September, 2014 The Board after deliberations extended the validity of the LoP up to 28th September, 2015. Item No. 63.4 : Requests for co-developer Approvals for co-developers are subject to the condition that particular terms and conditions of lease agreement/co-developer agreeme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Power Distribution Company Pvt. Ltd. for co-developer in the multi product SEZ at Villages Ponnada, Mulapeta and Ramnakkapeta, Kakinada, East Godavari District, Andhra Pradesh, being developed by M/s. Kakinada SEZ Pvt. Ltd. After deliberations, the Board approved the request of M/s. East Godavari Power Distribution Company Pvt. Ltd. for undertaking the following operations over an area of 1013.64 hectares, in accordance with the co-developer agreement entered into with the developer:- (i) Electrical Distribution Network including necessary sub-stations of appropriate capacity, pipeline network, power back up facilities etc. (ii) Procurement and setting up of infrastructural facilities and equipment required for distribution of power. (iii) Undertake operation and maintenance of the infrastructure facilities and equipment procured and setup for undertaking power distribution function (iv) Undertake power distribution function. Item No. 63.5 : Proposals for setting up of SEZs (i) Proposal of M/s. Mumbai Futuristic Economic Zone Pvt. Ltd. (Formally M/s. Quippo Infrastructure Equipment Ltd.), for conversion of in-principle approval granted to the developer for sector specific SE ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 examine and assess the taxability 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. (ii) Proposal of M/s. Wipro Limited for setting up of sector specific SEZ for IT/ITES at Resapuvanipalem Village, Visakhapatnam, Andhra Pradesh, over an area of 1.22 hectares. The Board noted that the Developer is in possession of the land. The Government of Andhra Pradesh has also recommended the proposal vide their letter dated 12.08.2014. Accordingly, the Board decided to grant formal approval to the proposal of M/s. Wipro Limited, for setting up of a sector specific Special Economic Zone for IT/ITES at Resapuvanipalem Village, Visakhapatnam, Andhra Pradesh, over an area of 1.22 hectares. (iii) Proposal o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s Manipal ETA Infotech Limited for amendment to the area given in the formal approval dated 4.1.2012 by increasing the same from 11.20 hectares to 17 hectares After deliberations, the Board decided to approve the request of M/s. Manipal ETA Infotech Limited for increasing the area of the formally approved SEZ by 5.80 hectares from the formally approved area of 11.20 hectares thereby making the total area of the formally approved SEZ as 17 hectares, subject to contiguity of the SEZ being maintained. (v) Request of M/s Stylus Commercial Services Pvt. Ltd., co-developer in M/s. Manyata Embassy Business Park SEZ, a sector specific SEZ for IT/ITES at Bangalore, Karnataka for shifting of operations from C2 Tower to increased office space in H2 Tower After deliberations, the Board approved the request of M/s Stylus Commercial Services Pvt. Ltd. for shifting of operations from C2 Tower to H2 Tower having built up area of 37,605 sq. ft. for providing business centre facilities and services, in accordance with the amended co-developer agreement entered into with the developer. (vi) Request from M/s. Vedanta Aluminium Ltd., developer of sector specific SEZ for Manufacture and Export of Al ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iately to Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority. (v) The Assessing Officer shall have the right to examine and assess the taxability 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. (viii) Request of M/s OPGS Power Gujarat Pvt. Ltd., a co-developer in M/s. OPGS Infrastructure Pvt. Ltd., a sector specific SEZ for Engineering at Bhadreshwar, Mundra, Kutch, Gujarat for change of nature of power plant from Captive to Group Captive The Board noted that the BoA, in its 61st meeting held on 3rd April, 2014, had granted co-developer status to M/s. OPGS Power Gujarat Pvt. Ltd. for generation of power over an area of 20 hectares in the non-processing area of the SEZ. The Board also noted that M/s. OPGS Power Gujarat Pvt. Ltd. has requested for change of nature of power plant from Captive to Group Captive so that it can supply power to other SEZs and EoUs. The Board, after delibera ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt 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. (xi) Request of M/s Unitech Infra-con Ltd., developer of sector specific SEZ for IT/ITES at Plot No. TZ-04, Greater Noida (U.P.) for change in shareholding pattern After deliberations, the Board approved the request of the developer for change in shareholding pattern of the company, 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 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) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 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 examine and assess the taxability 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. (xiv) Request of M/s Neopro Technologies Private Limited (NTPL), developer of sector specific SEZ for IT/ITES at Rajiv Gandhi Info Tech Park, Phase-I, Hinjewadi, Pune, Maharashtra for sale/transfer of equity shareholding of the Company After deliberations, the Board approved the request of the developer for change in shareholdin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the jurisdictional Authority. (v) The Assessing Officer shall have the right to examine and assess the taxability 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. (xvi) Request of M/s Pooja Scrap Industries (Partnership), a unit in VSEZ for extension of validity of LoP for the next block of five years from 31.08.2014 The Board, after deliberations, approved the proposal for extension of validity of LoP for a period of one year with the condition that the unit shall fulfill all the pending export obligations during the extended period. The further extension would be considered only after satisfactory performance of the unit during the extended period, which will be monitored by DC VSEZ. (xvii) Request of M/s. Aricent Technologies (Holdings) Ltd., a unit in M/s. Unitech Realty Project Ltd., IT/ITES SEZ, Gurgaon for undertaking ITES The Board noted that M/s. Aricent Technologies (Holdings) Ltd. has applied ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Industrial Licence (i) Application of M/s L&T Shipbuilding Ltd., Chennai for issue of industrial licence for Defence Equipments After deliberations the Board decided to approve the proposal for issue of LoP to M/s. L&T Shipbuilding Ltd. for manufacture of Defence Equipments viz. design and construction of Warships, submarines, weapon platforms (offshore, floating & submerged) including Auxiliary Vessels, High Speed Boats & Crafts, Barges, etc.; Conversion, alteration, refit, repairs of Defence Ships and Submarines, Manufacture of parts and accessories of ships and boats in SEZ subject to the standard terms & conditions for licensing and the extant FDI Policy guidelines applicable to Defence sector and appropriate security & auditing procedures prescribed by MoD/MHA. LoP for the same shall be issued by the concerned Development Commissioner in terms of Section 9 (2)(e) of SEZ Act, 2005 and Rule 18(1) read with Rule 19(4) of SEZ Rules, 2006. (ii) Request of M/s L&T Shipbuilding Ltd. a unit in L&T Shipbuilding Ltd. at Katupalli, Tamil Nadu requesting for permission for delivery of interceptor boats to Indian Coast Guard The Board noted that the present proposal has been placed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tions, the Board decided to approve the request of M/s. Bagmane Developers Private Limited (BDPL) for reduction in the area of the formally approved SEZ by 4.11 hectares from the formally approved area of 10.42 hectares thereby making the total area of the formally approved SEZ as 6.31 hectares. The approval is subject to the DC furnishing a certificate in the prescribed format certifying inter alia that the contiguity of the SEZ is maintained, the developer has either not availed or has refunded all the tax/duty benefits availed under SEZ Act/Rules in respect of the area to be reduced, the State Govt has no objection to the proposal, etc. After deliberations, the Board also approved the proposal for extension of validity of the formal approval up to 30th June, 2015. (iii) Proposal for cancellation of Formal Approval granted to M/s Ruchi Reality Holdings Ltd., developer of sector specific SEZ for IT/ITES at village Kannadia, Tehsil and Distt. Indore, M.P. The Board noted that the progress made by M/s Ruchi Reality Holdings Ltd. is not satisfactory. The developer has also informed that they are not able to make the land contiguous and are not in a position to comply with the form ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r the Chairmanship of Commerce Secretary, Department of Commerce 1. Shri Rajeev Kher, Chairman, BoA & Commerce Secretary, Department of Commerce. 2. Shri Ram Tirath, DGEP, Department of Revenue, Ministry of Finance 3. Shri Jitendra Kumar, Additional DGEP, CBEC, Department of Revenue. 4. Smt. Sarda Jain, Joint Secretary, Ministry of Law & Justice 5. Dr. L. B. Singhal, Additional DGFT, Dte. General of Foreign Trade 6. Shri Tej Pal Singh, ADG, DGEP, CBEC, Department of Revenue 7. Ms. Deepshikha Sharma, Deputy Secretary (ITA-1), CBDT, Department of Revenue, Ministry of Finance 8. Shri Gulab Singh, Deputy Secretary, Department of Financial Services 9. Shri Mahesh Tyagi, Dy. Legal Adviser, Ministry of Law & Justice 10. Shri P.K. Gupta, DGM, Ministry of Home Affairs 11. Shri R.N. Singh, Under Secretary, Ministry of Home Affairs 12. Shri R.D. Meena, Research Assistant, TCPO, Ministry of Urban Development 13. Dr. S.K. Sahoo, Office of Development Commissioner (MSME), Ministry of MSME, Nirman Bhawan. 14. Shri B. Bhattacharya, SIO, DGEP, Department of Revenue 15. Sh.A.K. Pathania, SIO, DGEP, Department of Revenue 16. Shri V. K. Sharma, Consultant, Ministry of Shipping 17. Shr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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