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TMI BlogMinutes of the 102nd meeting of the Board of Approval for SEZ held on 6th January, 2021 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 ..... , after deliberations, approved extension of the validity of the LoA up to 25th October, 2021. 102.2(ii) Request of M/s. Ganesh International Financial Services (IFSC) Pvt. Ltd., for 3rd extension of the validity 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 the validity of the LoA up to 8th February, 2021. 102.3 Proposal for change in shareholding pattern/ name/change of control/merger (five proposals) 102.3 (i) Request of M/s Cessna Garden Developers Pvt Ltd., Developer of an IT/ITES SEZ located at Kadubeesanhalli Village, Varthur Hobli, Marathahalli-Sarjapura Outer Ring Road, Bangalore for change of shareholding pattern and change of directors. The Board, after deliberations, approved the proposal for change of shareholding pattern and change of directors subject to approval by relevant statutory body 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 c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. 102.3(iii) Request of M/s. Ace SEZ Developers Pvt. Ltd, Co-Developer in M/s. Phoenix Tech Zone Pvt. Ltd, IT/ITES SEZ at Sy. No. 115/35, Nanakramguda Village, Serilingampally Mandal, Ranga Reddy District, Telangana for transfer of ownership of their Co-Developer company. The Board, after deliberations, approved the proposal for transfer of ownership of their Co-Developer company subject to approval by relevant statutory body with the following conditions:- i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered co-developer entity; ii. Fulfilment of all eligibility criteria applicable to co-developer, including security clearances etc., by the altered co-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 fina ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... details of PAN and jurisdictional assessing officer of the codeveloper to CBDT. 102.3(v) Request of M/s. Phoenix IT Infrastructure India Pvt. Ltd, Co-Developer in M/s. Phoenix Infocity Pvt. Ltd, IT/ITES SEZ at Sy. No. Gachibowli Village, Serilingampally Mandal, Ranga Reddy District, Telangana for transfer of ownership of their Co-Developer company. The Board, after deliberations, approved the proposal for transfer of ownership of their Co-Developer company subject to approval by relevant statutory body with the following conditions:- i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered co-developer entity; ii. Fulfilment of all eligibility criteria applicable to co-developer, including security clearances etc., by the altered co-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/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT), CBDT, Depa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the request of the Unit for the withdrawal of instant proposal. The Board, after deliberations, allowed the unit to withdraw the proposal. 102.4(iv) Request of M/s. Wegmans Trustone Properties LLP for Co-developer status in the IT/ITES SEZ of M/s. Artha Infratech Pvt. Ltd. located at Plot No. 21, Sector-Techzone IV, Greater Noida (Uttar Pradesh). The Board, after deliberations, approved the proposal of M/s. Wegmans Trustone Properties LLP for co-developer status for conversion from warm shell to total ready to move in infrastructure to be leased out to various SEZ units for export including maintaining and managing facility management [Two floors (7th & 8th floor) of Tower No.1 of approx. 64,820 Sqft. Super area in the Processing area of IT/ITES SEZ] in accordance with the co-developer agreement dated 11.11.2020 entered into with the developer, subject to compliance with relevant provisions of SEZ Act & Rules. The lease period, wherever applicable, shall be in accordance with DoC's Instruction no. 98 dated 29.08.2019. 102.5 Request for increase/decrease in area of developer or co-developer (three proposals) 102.5(i) Request of M/s CCL Products (India) Ltd., a sector spec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ix Spaces Pvt. Ltd, Developer, IT/ITES SEZ at Sy. No. 286 & 287, Puppalguda Village, Rajendra Nagar Mandal, Ranga Redd District, Telangana. Crushed Sand 692.50 MT 6,57,875/- 3. M/s. Phoenix IT City Pvt. Ltd, Developer IT/ITES SEZ at Sy. No. 53/paiki/part, Gachibowli Village, Serilingampally Mandal, Ranga Reddy District, Telangana. Robo Sand 3500 MT 2,10,000/- The Board, after deliberations, decided to approve the proposal i.r.o. listed developers in light of DoC's instruction dated 18.05.2020 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. 102.6(ii) Proposals received from DC, KASEZ for ratification of permission for procurement of restricted items viz. sand and soil for construction activities from DTA. The proposal of DC, KASEZ for ratification of approval granted by the DC office for procurement of following items was placed before the BoA: Sl. No. Unit/developer Item with HS Code Quantity Date of Approval granted by DC as per power delegation by DoC 1. H. V. Impex Pvt. Ltd., Khokhra, Ahmedabad at Ahmedabad Apparel Park Sand 25 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sit by DC, VSEZ along with Custom officials. After receiving the report from DC, VSEZ, the proposal may be considered on file/placed before BoA for decision. 102.7(ii) Request of M/s. Embassy Services Pvt. Ltd., Co-developer in Embassy Office Parks Pvt. Ltd. SEZ, for surrender of their Co-developer Status and hand over the authorized operations to Developer consequent to transfer of business to Embassy Office Parks Pvt. Ltd. The Board, after deliberations, decided to approve the proposal for surrender of their Co-developer status and hand over the authorized operations to Developer consequent to transfer of business to Embassy Office Parks Pvt. Ltd. subject to compliance of SEZ Act/Rules. The approval shall be subject to 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 cha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r, the proposal may be furnished to BoA for extension after satisfying that the unit fulfills all other criteria. 102.7(v) Application of M/s. Arshiya Northern FTWZ Ltd. for change of sector of its Free Trade Warehousing Zone at Village Ibrahimpur, Junaidpur Urf Maujpur, Bulandshar (U.P.) into 'Multi Sector SEZ" in terms of SEZ Rules amendment Notification dated 17.12.2019. The Board, after deliberations, deferred the case to enable DOR to enable it to examine and convey its comments on the proposal of the unit seeking change of sector under Rule 6A of SEZ Rules, 2006. 102.8 Appeal (one appeal) 102.8(i) Appeal against the decision of the Unit Approval Committee meeting held on 14.09.2020 in respect of JSEZ- Sitapura, Jaipur regarding the non renewal of LoA of the unit and direction for completion of exit formalities. The Board noted that the appeal is time barred as per Rule 56 of the SEZ Rules, 2006. However, the Board decided to condone the delay and consider the case on merits. Accordingly, the Board heard the appellant. The appellant submitted that they had started their business in 2011 and made an investment of around ₹ 30 lakhs on building, infrastructur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty 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/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. 102.9(ii) Request of M/s Aspen Park Infra Coimbatore Pvt. Ltd., Developer for change of shareholding pattern and change of Board of Directors. The Board, after deliberations, approved the proposal of the developer for change of shareholding pattern and change of B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nal 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. 102.9(iv) Request of M/s Bayline Infocity Limited (Developer) for change of shareholding pattern and appointment of new Directors of the developer. DC, MEPZ informed the Board about the application filed by the individual investors before the NCLT, Chennai Bench wherein M/S Bayline Infocity Limited has been arrayed as a respondent. The Board, after deliberations, decided to defer the proposal. 102.10 Setting up of SEZ (one proposal) 102.10(i) Proposal of M/s. Sustain Properties Private Limited for setting up an IT/ITES SEZ over an area of 1.466 hectares at Plot No. 16/A/1 (P) and 16/A/2 (P), Sy No. 83/1, Knowledge City, Raidurg Village, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed, SEZ Building no.H06, 1st, 2nd and 3rd Floor, Hitech City 2, Gachibowli V, Hyderabad, Telangana against decision of UAC, VSEZ in its meeting dated 17.06.2020. 102.11(vii) Appeal dated 29.12.2020 filed by M/s Optum Global Solutions (India) Private Limited located at 5th, 6th & 7th Office level, Building no.14, Sundew Properties Ltd., APIIC Layout, Survey no. 64 Part, Hitech City, Madhapur, Hyderabad, Telangana against decision of UAC, VSEZ in its meeting dated 17.06.2020. 102.11(viii) Appeal dated 29.12.2020 filed by M/s Optum Global Solutions (India) Private Limited located at Phoenix Infocity Private Limited, 7th & 8th level SEZ Building no.H04, Vignesh Hitech City 2 Society, Sy. No. 30, 34, 35 & 38, Gachibowli V, Serilingampally M, Hyderabad, Telangana against decision of UAC, VSEZ in its meeting dated 17.06.2020. 102.11(ix) Appeal dated 29.12.2020 filed by M/s Optum Global Solutions (India) Private Limited located at 9th, 10th, 11th & 12th Floor, Building No. 12 B, Sundew Properties Limited, APIIC Layout, Survey no. 64 P, Hitech City, Madhapur, Hyderabad, Telangana against decision of the UAC, VSEZ in its meeting dated 17.06.2020. The Board noted that all the above nine a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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