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TMI BlogMinutes of the 70th meeting of the Board of Approval for SEZs held on 28th April 2016 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 ..... t. Ltd. for setting up of Biotechnology SEZ at village Rahaka & Nimoth District Gurgaon, Haryana beyond 13th July, 2016 The Board, after deliberations, extended the validity of the formal approval up to 13th July, 2017. (iii) Request for further extension of LoA from M/s. Wipro Limited for setting up of IT/ITESBPO SEZ at Kodathi village, Varthur hobli, Sarjapur Road, Bangalore, Karnataka beyond 26th May 2016 The Board, after deliberations, extended the validity of the formal approval up to 26th May, 2017. (iv) Request of M/s. Brookefields Real Estates and Projects Private Limited for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for IT/ITES/BPO/Electronic Hardware at "Brooke fields", Village Kundalahalli, Hobli Krishnarajapuram, Taluk Bangalore South, Karnataka, beyond 31st March 2016. The Board, after deliberations, directed DC, CSEZ to obtain and furnish a report indicating financial closure. Thereafter, the proposal will be considered on file with the approval of Commerce Secretary. (v) Request of M/s. Vedanta Limited for extension of the validity period of formal approval, granted for setting up of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the developments of the Unit under watch. (iv) Request of M/s. Indofil Industries Limited, a unit in the multi product SEZ being developed by M/s. Dahej SEZ at Bharuch, Gujarat for extension of LoP beyond 13th March 2016 The Board, after deliberations, extended the validity of the LoP up to 13th March, 2017. (v) Request of M/s. Ajanta Pharma Limited, a unit in the multi product SEZ being developed by M/s. Dahej SEZ at Bharuch, Gujarat for extension of LoP beyond 1St April 2016 The Board, after deliberations, extended the validity of the LoP up to 1st April, 2017. (vi) Request of M/s. Lupin Ltd., a unit in MIHAN SEZ, for extension of Letter of Permission (LoP) beyond 22nd April 2016 The Board, after deliberations, extended the validity of the LoP up to 22nd April, 2017. (vii) Request of M/s. Godrej & Boyce Manufacturing Company Limited, a unit in the multi product SEZ being developed by M/s. Dahej SEZ at Bharuch, Gujarat for extension of LoP beyond 29th May 2016 The Board, after deliberations, extended the validity of the LoP up to 29th November, 2016. (viii) Request of M/s Yash Technologies Pvt. Ltd., a unit in MIDC at Plot No. 23/1, Rajiv Gandhi Infotech Park, Hinjewad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nditions 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 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 and Rules. This is applicable to all cases of co-developers approved by the BoA in this meeting. The decisions of the BoA on the proposals listed in the agenda are as under:- (i) Request of M/s. Brigade (Gujarat) Projects Pvt. Ltd. for co-developer in the sector specific SEZ for multi services at Ratanpur, District Gandhinagar, Gujarat, being developed by M/s. GIFT SEZ Ltd. After deliberations, the Board approved the proposal of M/s. Brigade (Gujarat) Projects Pvt. Ltd. for becoming a co-developer to develop, maintain and operate office building for units to undertake export of services in the processing area of GIFT SEZ Ltd., over an area of 2,60,000 sq.ft. in accordance with the co-developer agreement entered into with the developer, subject to standard terms and conditions as per SEZ Act and Rules provided that the lease period is re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of M/s. Volupia Developers Pvt. Ltd. for co-developer in Multi Services SEZ at Ratanpur, District Gandhinagar, Gujarat, being developed by M/s. GIFT SEZ Ltd. for additional built up area of 50,237 sq.ft. After deliberations, the Board approved the proposal of M/s. Volupia Developers Pvt. Ltd. for additional built up area of 50,237 sq. ft., in accordance with the supplemental agreement to co-developer agreement entered into with the developer subject to standard terms and conditions as per SEZ Act and Rules. (vi) Request of M/s. UST Global Technology Services (India) Private Limited for co-developer in the sector specific SEZ for IT/ITES at Puthencruz and Kunnathunade village, Taluk Kunnathaunadu, Ernakulam District, Kerala, being developed by M/s. Infopark After deliberations, the Board approved the proposal of M/s. UST Global Technology Services (India) Private Limited for co-developer for development of IT infrastructure along with relevant amenities and facilities, over an area of 3.5543 hectares in accordance with the co-developer agreement entered into with the developer, subject to standard terms and conditions as per SEZ Act and Rules provided that the lease period is r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he 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) Request of M/s Unitech Realty Project Ltd., developer of sector specific SEZ for IT/ITES at Tikri, Sector, 48, Gurgaon, Haryana for change of name/constitution & shareholding pattern of the company After deliberations, the Board approved the request for change of name of the developer from M/s Unitech Realty Project Ltd. to M/s. Candor Gurgaon One Developers and Projects Pvt. Ltd. and change of the 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, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tional assessing officer of the co-developer to CBDT. (iv) Request of M/s GMR Hyderabad Aviation SEZ Ltd. for inclusion of pharma sector in SEZ After deliberations, the Board approved the request of M/s GMR Hyderabad Aviation SEZ Ltd. for inclusion of pharma as additional sector in the said SEZ. Item No. 70.8: Cancellation of Formal Approvals The Board examined the following 5 cases of cancellation of formal approval /notification and approved cancellation of their formal approvals:- Sr. No. Name of the Developer/co-developer Sector Date of formal approval Zone I. M/s. Abex Infocom (P) Ltd. (Kakshin Kehirpur, P.S. Kassipore, South 24 Parganas, West Bengal) IT Sector 20.12.2007 FSEZ 2. M/s. Orion IT Parks Pvt. Ltd. (Rajarhat, Kolkata) IT/ITES 23.03.2008 FSEZ 3. 3. M/s. Salarpuria Properties Pvt. Ltd. (Basanti Highway, Bhangor, South 24 Parganas, West Bengal) IT/ITES 09.08.2008 FSEZ 4. M/s. Bengal Shristi Infrastructure Development Ltd. (Asansol, Burdwan) IT/ITES 14.01.2008 FSEZ 5. M/s. M.L. Dalmia & Co. Ltd. (Calcutta leather complex project, Bantala) Leather 16.06.2006 FSEZ Item No. 70.9 : Appeals before BoA (i) Appeal of M/s. Morgan Tectronics L ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o. 70.12: Miscellaneous Cases (i) Request of M/s. Unitech Hi-tech Structures Developers Ltd., a developer in sector specific SEZ for IT/ITES at Rajarhat Dist. North 24 Parganas, Kolkata, West Bengal for change of name from M/s. Unitech Hi-Tech Structures Pvt. Ltd. to Candor Kolkata One Hi-Tech Structures Pvt. Ltd. After deliberations, the Board approved the request for change of name of the developer from M/s Hi-Tech Structures Pvt. Ltd. to M/s. Candor Kolkata One Hi-Tech Structures Pvt. Ltd., 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 t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Government of Tamil Nadu contained in its letter dated 16.03.2016 for allowing co-developer status to M/s Ford Motor Private Limited for 99 years instead of 30 years as M/s Ford Motor Private Limited, had already leased the land for a period of 99 years from ELCOT and had also got the Lease Deed registered for 99 years and therefore, approved the proposal. (iv) Proposal of M/s. Indiabulls Infrastructure Co. Limited, a co-developer in multi product SEZ at Sinner MIDC, Nasik, Maharashtra being developed by M/s. Indiabulls Industrial Infrastructure Ltd. for change of name and shareholding pattern of the codeveloper from M/s. Indiabulls Infrastructure co. Limited to M/s. IIC Limited. After deliberations, the Board approved the request for change of name of the codeveloper from M/s Indiabulls Infrastructure Co. Limited to M/s. IIC Limited and change of the shareholding pattern of the company, subject to following conditions:- (i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered co-developer entity; (ii) Fulfillment of all eligibility criteria applicable to co-developers, including security clearances etc., by the altered ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (SEZ) , Akolia, Dhar, M.P. Manufacture of Heavy weapons (Artillery guns, AD Guns, Mortars, Rocket Launchers) of all calibers 100 6. M/s Reliance Unmanned System Ltd. EQ 1032 Pithampur (SEZ), Akolia, Dhar, M.P. Manufacture of Remotely Piloted Vehicle (RPVs), unmanned lighter than air vehicle. 100 7. M/s Reliance SED Ltd. EY 5946 Pithampur (SEZ), Akolia, Dhar, M.P. Manufacture of Electronic Warfare Systems including Electronic Equipments used for Electronic Counter Measure (ECM) and Electronic Counter Counter Measure (ECCM) 100 8. M/s Reliance Land Systems Ltd. UY 9986 Pithampur (SEZ), Akolia, Dhar, M.P. Manufacture of Explosive devices like Bombs, Mines, Rockets, Propellant/Charge Systems, combustible cases for charges, sub munitions including bomblets, minelets, Terminally guided projectiles and Cargo Projectiles. 500 9. M/s Reliance SED Ltd. YM 1722 Pithampur (SEZ), Akolia, Dhar, M.P. Manufacture of Radar Equipment (Radar, Jammers including Weapon Locating Radars) 100 10. M/s Reliance Naval Systems Ltd. YO 0871 Mihan (SEZ), Nagpur Design, Development and manufacture of underwater weapons: * Torpedos/Rockets/A UV * Lunchers /Ground Control & ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s including Service Tax Exemptions, if any, under SEZ Act/ Rules , or has refunded any such benefits availed by it. Item No. 70.15: Appeals before BoA (i) Appeal of M/s. Shahtootwale Industries Ltd., a unit in Noida SEZ against orderof the UAC dated 18th August, 2015. The Board, heard the appellant and took note that the machinery in the unit was almost 25 years old and had been used only for woolen garments. It was also noted that the firm had not done any export in the last 5 years and even for the 5 years previous to that, no substantial export had been done. Therefore, the Board confirmed the order of NSEZ dated 18th August, 2015, cancelling the LoA. Annexure I List of Participants for the Meeting of the Board of Approval for Special Economic Zones held on 28th April, 2016 under the Chairpersonship of Commerce Secretary, Department of Commerce 1. Ms. Rita Teaotia, Chairpersonship, BoA & Commerce Secretary, Department of Commerce 2. Shri John Joseph, DGEP, Department of Revenue, Ministry of Finance 3. Dr. Tajpal Singh, Additional Director General, DGEP 4. Shri Jitendra Kumar, Additional Dir, DGEP 5. Ms. Gunjan Vaishney, Under Secretary (ITA-1), CBDT, Department of Re ..... X X X X Extracts X X X X X X X X Extracts X X X X
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