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TMI BlogMinutes of the 82th meeting of the. Board of Approval for SEZ held on 04 April 2018 to consider setting up of Special Economic Zones and other miscellaneous proposalsX X X X Extracts X X X X X X X X Extracts X X X X ..... atter 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 oi M/s. Indus Gene Expressions Ltd.-SEZ for further extension of the validity period of formal approval, granted for setting up of sector specific Bio-tech at Kodur village, Anantapur District, Andhra Pradesh for a period of one year beyond 13th February 2018. The Board, after deliberations, approved extension of the validity of the formal approval up to 13th February, 2019. (ii) Request of M/s Frontier Lifeline Private Limited for further extension of the validity period of formal approval, granted for setting up of Bio-Technology SEZ at EDUR, Gummidipoondi, Tamil Nadu for a period of one year beyond 27.11.2017. DC, MEPZ SEZ informed the Board that the Government of Tamil Nadu and the developer had reached an agreement to jointly develop a medical city (Mediville Project) including the above SEZ and that Government of Tamil Nadu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proved extension of the validity of the LoP up 5th January, 2019. (v) Request of M/s. Shantha Biotechnics Pvt. Ltd (u-2) in the M/s. Shantha Biotechnics Pvt. Ltd SEZ for extension of Letter of Permission (LOP) beyond 3rd Year upto 16.4.2019. The Board, after deliberations, approved extension of the validity of the LoP up 16th April, 2019. (vi) Request of M/s. Zydus Technologies Ltd., in the Zydus Pharmaceutical - SEZ, Matoda, Ahmedabad, Gujarat for extension in validity of Letter of Approval (LOA) beyond 28-06-2018 for further period of one year upto 28-06-2019. The Board, after deliberations, approved extension of the validity of the LoP up to 28th June, 2019. (vii) Request of M/s. Wockhardt Ltd., unit 3 in the sector specific SEZ for Pharmaceuticals being developed by M/s. Wockhardt Infrastructure Development Limited at Shendre, Aurangabad, Maharashtra for extension of Letter of Permission (LOP) for a period of one year beyond 24th October, 2017. The Board, after deliberations, approved extension of the validity of the LoP up to 24th October, 2018. (viii) Request of M/s. Tech Mahindra Ltd. in MIDC SEZ at Plot No. 4, Rajiv Gandhi Infotech Park, MIDC SEZ, Hinjewadi, Phase ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Buildings and other infrastructure/facilities to be undertaken in the IT building developed by M/s Brigade Enterprises Limited, the co-developer of the SEZ. The proposed activities to be undertaken by M/s. WTC Trades & Projects Pvt. Limited, Bangalore shall be 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 does not exceed 30 years (Renewable). (v) Request of M/s. Access Health Care services Pvt. Ltd for co-developer status in M/s. Coimbatore Hitech Infrastructure Private Limited-SEZ, IT/ITES at Keeranatham village, Coimbatore (N), Coimbatore, Tamil Nadu. The Board, after deliberations, approved the proposal of M/s. Access Health Care services Pvt. Ltd. to construct IT/ITES facility and Electronic Hardware and software facility 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 does not exceed 30 years (Renewable). (vi) Re-consideration of request of M/s. Synergy Infotech Pvt. Ltd. for Co-developer status in MIDC IT/ITES SEZ, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (ii) Request for prior approval transfer of shares exceeding 50% of M/s. Nalanda Shelter Pvt. Ltd. (Developer) to M/s. Xander Investment Management Pte. Ltd., Singapore (Investor) transfer of equity shareholding of the company. The Board approved the proposal subject to 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 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 assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger. amalgamation. transfer and ownerships etc. as may be applicable an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsfer 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 assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable 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 unit shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT. (v) Request of M/s. eInfochips Limited (Unit A), a unit in M/s. Magarpatta City-SEZ at Pune for Change of 100% Shareholding Pattern with change of entrepreneur by way of change in controlling stake of the company. The Board approved the proposal subject to following conditions:- i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered unit entity; ii) Fulfilment of all eligibility criteria applicable to unit, including security clearances etc., by the altered unit entity and its ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the unit to CBDT. (vii) Request of M/s. SmarTek Consultancy Services India Pvt. Ltd., a unit in M/s. Qubix Business Park Pvt. Ltd. - SEZ at Pune for Change of Entrepreneur of existing SEZ from M/s. Smartek Consultancy Services India Pvt. Ltd. to SmarTek21 Pvt. Ltd. The Board approved (he proposal subject to following conditions:- i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered unit entity: ii) Fulfilment of eligibility criteria applicable to unit including security clearances by the altered unit 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 assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and obligations for the altered unit entity; ii) Fulfilment of all eligibility criteria applicable to unit, including security clearances etc., by the altered unit 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, 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 assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable 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 unit shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT (x) Request of M/s. Barclays Technology Centre India Pvt. Ltd., a unit in M/s. EON Kharad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax, 1961. vi) The applicant shall comply relevant State Government laws, including those relating to lease of land, as applicable. vii) The unit shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT. (xii) Request of M/s. CEB India Pvt. Ltd. a unit in DLF SEZ, Manapakkam, Chennai for transfer of shares exceeding 50% to another entity. The Board approved the proposal subject to following conditions:- i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered unit entity; ii) Fulfilment of all eligibility criteria applicable to unit, including security clearances etc., by the altered unit 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 t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... otechnology at Manjari Budruk, Taluka Haveli, District Pune - Maharashtra, The Board, after deliberations, approved the proposal. (ii) Request of M/s ANSR Global Corporation Pvt. Ltd. (formerly known as Network Information Global Services India Pvt. Ltd.), Bangalore for Co-Developer status in Manyata Embassy Business Park SEZ, Bangalore for development of the SEZ area specifically to undertake the authorized operations of conversion of bare shell buildings into warm shell buildings in an additional area of 90,114 Sq. ft. and to lease the built-up space in the above IT/1TeS SEZ. After deliberations, the Board approved the proposal of M/s. ANSR Global Corporation Pvt. Ltd for additional built up area in accordance with the agreement between the Developer and co-developer dated 26.02.2018 subject to standard terms and conditions as per SEZ Act and Rules provided that the lease period is reduced to a period not exceeding 30 years (Renewable). (iii) Request 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 419 sq. mtr (4510 sq.ft.) After del ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... provided that the lease period is reduced to a period not exceeding 30 years (Renewable). (vii) M/s. Kings Canyon SEZ Pvt. Ltd., Co-developer of IT/ITES of M/s. ASF Insignia SEZ Pvt. Ltd. at Village Gwal Pahari, Gurgaon (Haryana) - Proposal for amendment in co-developer agreement and Lease deed executed with the SEZ Developer. The Board, was informed by DC, NSEZ that the revenue records pertaining to the additional area had been verified. The Joint Director (Industries), Government of Haryana also confirmed that the additional area had been verified from the revenue records. The Board after deliberations approved the proposal subject to standard terms and conditions as per SEZ Act and Rules provided that the lease period is reduced to a period not exceeding 30 years (Renewable). (viii) Request of M/s. Qualit Agro Processors, a unit in CCCI SEZ, Tamil Nadu, for amendment in the LoA issued to them for deleting condition no. (iii) of the LoA and to permit them procure pulses form DTA. The Board, after deliberations, deferred the matter and directed that the entire issue of import and export of pulses in SEZs may be re-looked into, in consultation with DGFT. (ix) Request of M/s. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uction 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 unit shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT. (ii) Proposal of M/s. Atos India Pvt. Ltd. (unit-II)., a unit in IT/ITES SEZ of M/s. IG3 Infra Ltd. at Pallavaram - Thoraipakkam 200 Feet Road, Thoraipakkam, Chennai for change of implementing agency/transfer of shareholding pattern from M/s. Atos India Pvt. Ltd. - Unit-II to M/s. Atos Global IT Solutions and Services Pvt. Ltd. - Unit-II due to de-merger order passed by NCLT. The Board approved the proposal subject to following conditions:- i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered unit entity; ii) Fulfilment of all eligibility criteria applicable to unit, including security clearances etc., by the altered unit 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... all furnish details of PAN and jurisdictional assessing officer of the developer to CBDT. Item No. 82.9: Miscellaneous Cases (2 proposals) (i) Restoration of LoA of M/s. Sarthak Warehousing & Trading Co. (SWTC), Gandhidham. The Board, after deliberations deferred the proposal and directed DC, KASEZ to re-examine whether activity proposed by the unit amounts to recycling. (ii) Request for approval of co-developer status in respect of M/s. Shreekunj Hospitality Pvt. Ltd. in Dahej SEZ DC, Dahej SEZ informed that the revised co developer agreement with M/s Shreekunj Hospitality Pvt Ltd. mentions about the transfer of assets and liabilities of M/s. Dahej Hospitality Pvt. Ltd. (now M/s. Cambay SEZ Hotels Pvt. Ltd.) to the new co-developer, making the original co developer's agreement with Cambay as redundant. The agreement with M/s. Dahej Hospitality Pvt. Ltd. (now M/s. Cambay SEZ Hotels Pvt. Ltd.) would therefore need to be cancelled by the BOA. BOA noted that the Sale Certificate dated 7th January 2017 issued by SIDBI is a statutory document issued under Rule 6. 7, 8 and 9 of the Security Interest (Enforcement) Rules, 2002. Hence any amendment in this certificate would need ..... X X X X Extracts X X X X X X X X Extracts X X X X
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