TMI BlogMinutes of the 101st meeting of the Board of Approval for SEZ held on 27th November, 2020 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 ..... liberations, approved extension of validity of LoA for a period of one year, i.e. up to 26.10.2021. 101.2 (ii) Request of M/s Indo UK Healthcare Pvt. Ltd. Sector 19, MIHAN SEZ, Nagpur a unit in MIHAN SEZ for extension of LoA beyond 09.03.2020 upto 09.03.2021. The Board, after deliberations, approved extension of validity of LoA for a period of one year, i.e. up to 09.03.2021. 101.2(iii) Request of M/s. Arya Fin-Trade (IFSC) Pvt. Ltd., for 3rd extension of Letter of Approval in Multi Services SEZ at Ratanpur, District Gandhinagar, Gujarat, developed by M/s. GIFT SEZ Ltd. The Board, after deliberations, approved extension of validity of LoA for a period of one year, i.e. up to 07.03.2021. 101.2(iv) Request of M/s Wockhardt Ltd., a unit at Shendre, Aurangabad, Maharashtra for extension of validity period of LoA for oral solid dosage for human usage for a period of one year upto 24.10.2021. The Board, after deliberations, approved extension of validity of LoA for a period of one year, i.e. up to 24.10.2021. 101.3 Proposal for change of shareholding pattern/ name/change of control/merger (seven proposals) 101.3(i) Request of M/s. Sai Wardha Power Limited ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s 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 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. 101.3(iii) Request of M/s. Festus Properties Pvt. Ltd. (Developer) a sector specific SEZ for IT/ITES at Powai, Mumbai, Maharashtra for approval of change in shareholding pattern of the company. The Board, after deliberations, approved the proposal for change in shareholding pattern subject to approval by relevant statutory bodies with the following condit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nge, 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 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 co-developer shall furnish details of PAN and jurisdictional assessing officer of the codeveloper to CBDT. 101.3 (v) Proposal of M/s. ANSR Global Corporation Pvt. Limited, Co-Developer for merger of their other 2 Co-Developers with their company. The Board, after deliberations, approved the proposal for merger subject to the following conditions:- i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered developer entity; ii. Fulf ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. 101.3(vii) Request of M/s. Candor Gurgaon One Realty Projects Pvt. Ltd., developer of IT/ITES SEZ at Village Tikri, Sector-48, Gurugram (Haryana) for change in shareholding pattern of the company. The Board, after deliberations, approved the proposal for change in shareholding pattern subject to approval by relevant statutory bodies 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/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Date of Approval 1 M/s. Pharma Zell (India) Pvt. Limited Ramky SEZ Sand 1250 MT 27.10.2020 2 MIs Biocon Biosphere Limited Ramky SEZ River Sand 5000 MT 23.10.2020 3. Aequitas Estones Private Limited APIIC Bldg. Product SEZ Gravel 90,000 Tons 23.10.2020 4. Aequitas Estones Private Limited APIIC Bldg. Product SEZ Sand 15,000 Tons 23.10.2020 The Board, after deliberations, decided to ratify the approval granted by the Development Commissioner under DoC's Instruction dated 18.05.2020 for procurement of restricted item viz. sand, soil etc. subject to the condition that it should be ensured that the allowed items are actually used in the SEZs and all the environmental and other relevant regulations are complied with. (c) Procurement of Sand/Soil by Kandla SEZ units and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Sand Kapchi 400 CFT 400 CFT 08.07.2020 14. Everest Kanto Cylinder Ltd., Sand Kapchi 500 MT 500 MT 14.07.2020 15. Harsh Global Sand Kapchi 375 MT 250 MT 16.07.2020 16. Kishore Export House Sand Kapchi 250 MT 250 MT 16.07.2020 17. Trimurti Fragrances Flavours Pvt Ltd., Sand Soil 375 MT (13-14 trucks) 14.07.2020 18. AumSolvchem Sand Soil Black stone kala pathar kakri) 80 MT 110 MT 14.07.2020 19. Global Commodities Trading Impex Pathar/Kakri 375 MT (13-15 trucks) 14.07.2020 20. Ganpati Overseas Black stone (kalapatthar Kakri) Sand and Soil 3 trucks 3 trucks ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5 MT 11.08.2020 35. Adinath Warehousing Co. Sand Bricks Blocks Crush metal 15 trucks 15000 pieces 15000 pieces 100 trucks 11.08.2020 36. Maruti Exports Sand Bricks Blocks Crush metal 5 trucks 15000 pieces 15000 pieces 100 trucks 11.08.2020 37. Everest Kanto Cylinder Ltd., Sand Kapchi 500 MT 500 MT 13.08.2020 38. United Drilling Tools Ltd., Sand/Dust Cement/Malba 75 MT 300 MT 17.08.2020 39. International Warehousing Trading, Sand 100 MT 17.08.2020 40. Mission Pharma Logistics India Pvt. Ltd. Sand 100 MT 21.08.2020 41. Bajaj warehousing services, Sand 25 MT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Amax International warehousing Pvt. Ltd. Sand 500 MT 05.10.2020 60. Euro India Cylinders Ltd., Sand 30 MT 07.10.2020 61. Royal Petro Oil Refinery LLP, Sand 25 dumpers 07.10.2020 62. Shrine Chemicals Pvt Ltd., Sand 500 MT 07.10.2020 63. Vijay Tanks Vessels (P) Ltd., Sand 500 CFT 09.10.2020 64. Texool Spinners Clothing, Sand 10 dumpers 09.10.2020 65. IFGL Refractories Ltd., Sand 6000 CET 09.10.2020 66. SuhaviPharma, Sand 1 truck load 16.10.2020 67. Babu International Sand 7 dumpers ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the proposed merger. 101.5(iv) Request of M/s ACE SEZ Developers Pvt. Ltd., co-developer for M/s Phoenix Tech Zone Pvt. Ltd. IT/ITES SEZ at Sy. No. 115/35, Nanakramguda Village, Serilingampally Mandal, Ranga Reddy District, Telangana for approval for reduction in space of their co-developer. The Board, after deliberations, decided to approve the proposal for reduction in space from 1,39,385 sq. ft. in 14th to 16th Floor, Tower B to 47,010 sq. ft in 16th Floor, Tower B in M/s Phoenix Tech Zone Pvt. Ltd. SEZ in accordance with the amended co-developer agreement dated 06.11.2020 entered into with the developer, subject to compliance with relevant provisions of SEZ Act Rules. 101.5(v) Request of M/s Squarespace SEZ Pvt. Ltd. for M/s Phoenix Tech zone Pvt. Ltd. IT/ITES SEZ at Sy. No. 115/35, Nanakramguda Village, Serilingampally Mandal, Ranga Reddy District, Telangana for approval for increase in space of their co-developer. The Board, after deliberations, decided to approve the proposal for increase in space from 24,306 sq. ft. in 11th floor, Tower B to 92, 375 sq. ft. in 14th and 15th Floors, Tower B in M/s Phoenix Tech Zone Pvt. Ltd SEZ in accordance with the am ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed cancellation of LoA of the unit. The Board, after deliberations, decided to reject the appeal. 101.6(iii) Appeal of M/s. N.K.M. Jewels against the decision of the UAC, Noida Special Economic Zone meeting held on 14.09.2020 declining renewal of LoA and the Exit from SEZ Scheme. The Board heard the appellant and took note of the submissions made by the unit. The Board observed as follows: A meagre investment of around ₹ 16 lacs has been made by the appellant which mainly comprise of the building (i.e. ₹ 13 lacs) and on plant and machinery (₹ 3 lacs). No exports were done during the entire period of five years. The submissions of the appellant failed to substantiate their claims for a credible business plan for export performance and compliance of NFE obligation. Further, they do not have any manpower on their rolls since past few years which indicates a total lack of any commitment to do business. Further, JDC, NSEZ informed the Board that the SEZ developer i.e. RIICO had also recommended cancellation of LoA of the unit. The Board, after deliberations, decided to reject the appeal. 101.6(iv) Appeal of M/s. Sh. Suresh Narayan S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in their business plan in December, 2018 after RBI had found their earlier business plan as not permissible. Further, they have also undertaken to pay the outstanding lease rental dues in a time bound manner. The Board, after deliberations, decided to remand the case back to UAC for re-consideration after examining the credibility of the new business plan of the unit. Decision on Supplementary Agenda 101.7 Request for extension of LoA beyond 3rd year onwards (one proposal) 101.7(i) Request of M/s Rusan Pharma Ltd. in Indore SEZ for extension of Letter of Approval beyond 01.12.2020 for one year up to 01.12.2021. The Board, after deliberations, approved extension of validity of LoA for a period of one year, i.e. up to 01.12.2021. 101.8 Cancellation of co-developer status (one proposal) 101.8(i) Application of M/s Embassy Services Private Limited ( ESPY ), the Co-developer in Manyata SEZ, Bangalore for surrender of their co-developer status and to hand over the authorised operations to the Developer, M/s Manyata Promotors Private Limited ( Manyata ), Outer Ring Road, Rachenahalli Village, Nagavara, Bangalore. The Board, after deliberations, decided ..... X X X X Extracts X X X X X X X X Extracts X X X X
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