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TMI BlogMinutes of the 105th meeting of the Board of Approval for SEZ held on 29th July, 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 ..... roved extension of the validity of formal approval up to 29th October, 2022. 105.2(ii) Proposal of M/s State Industries Promotion Corporation of Tamil Nadu Ltd. (SIPCOT) Industrial Park, Bargur for extension of validity of LoA in respect of Multi Sector SEZ for granite processing at Bargur, Uthangarai & Pochampalli Taluk, Krishnagiri District, Tamil Nadu. The Board, after deliberations, approved extension of the validity of formal approval up to 10th March, 2022. 105.2(iii) It was noted that the agenda item pertained to the request for extension of validity of LOA of a unit and was inadvertently listed under the current section. The same has been accordingly placed under the relevant heading as item no. 105.3(iv). 105.3 Request for extension of LoA of the units (four proposals) 105.3(i) Request of M/s. Knitpro International (Unit-III) in Mahindra World City (Jaipur) Ltd., Multiproduct SEZ at Village- Kalwara, Tehsil-Sanganer, Jaipur (Rajasthan) for third extension of Letter of Approval (LoA) for a further period of one year i.e. upto 07.03.2022. The Board, after deliberations, approved extension of the validity of LoA up to 7th March, 2022. 105.3(ii) Request of M/s Shankar S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bility 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. 105.4(ii) Request of M/s Bayline Infocity Limited, developer for taking on record the change of shareholding pattern and the appointment of new Directors of the Developer. The Board noted that the matter was deferred by the Board earlier in its 102nd and 104th meetings held on 06.01.2021 and 28.05.2021 respectively as the individual investors had raised an objection to the proposed change in shareholding pattern and filed a petition before the NCLT, Chennai Bench challenging the same. The matter was sub-judice. Now, vide NCLT order dated 11.06.2021, the petition stands dismissed as withdrawn. The Board, after deliberations, approved the proposal for change of shareholding pattern and for the appointment of new Directors in the Board subject to approval by relevant statutory body and legal compliances with the following conditions:- i. Seamless continuity of the S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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, 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 co- 105.4(iv) Request of M/s. Anomalous Infra Private Limited (co-developer) at Arshiya Limited-FTWZ, Panvel, Raigad for change in shareholding pattern of the company. The Board, after deliberations, approved the proposal for change in shareholding pattern of the 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 et ..... 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 105.4(vi) Proposal of M/s. Sak Synergy Realty Private Limited, Co-developer of ASF Insignia SEZ Private Limited IT/ITES SEZ at Village Gwal Pahari, Gurugram (Haryana) for change in shareholding pattern of the company. The Board, after deliberations, approved the proposal for change in shareholding pattern of the 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, Department of Revenue and to the jurisdictional Authority. v. The Assessing Office ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ement of 200 MT sand by the unit namely, M/s Arima Minerals & Metals Pvt. Ltd. for undertaking civil works was placed before the Board of Approval. The Board, after deliberations, approved the proposal in terms of proviso under Rule 27(1) of the SEZ Rules, 2006 subject to the condition that it should be ensured that the allowed item is actually used in the SEZ and all the environmental and other relevant regulations are complied with. 105.5(ii) Ratification of permission for procurement of sand, a restricted item from Domestic Tariff Area granted to M/s. Kusalava International Ltd., VSEZ. The proposal from DC, VSEZ for ratification of approval granted by DC office to M/s Kusalava International Ltd. to procure sand of a quantity of 100 MT on 06.07.2021for constructing compound wall, internal CC Road and repair work in their premises was placed before the BoA. 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 items viz. sand, soil etc. subject to the condition that it should be ensured that the allowed item is actually used in the SEZ and all the environ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th. 105.5(v) Proposal for procurement of restricted items by M/s Godrej & Boyce Mfg. Co. Ltd., a unit in Dahej SEZ for infrastructure development & repairing facility in terms of Rule 27 of SEZ Rules 2006. The proposal from DC, Dahej SEZ for ratification of approval granted by DC office to M/s Godrej & Boyce Mfg. Co. Ltd. to procure the following items for setting up and repairing of infrastructure facilities was placed before the BoA: Description Estimated Quantity Sand (including sand used for RMC) 14426 MT Stone (including stone used for RMC, Road WMM & Bitumen carpet 30005 MT Granite 09MT The Board, after deliberations, decided to ratify the approval granted by the Development Commissioner under DoCs instruction dated 18.05.2020 for procurement of restricted items viz. sand, soil etc. subject to the condition that it should be ensured that the allowed items are actually used in the SEZ and all the environmental and other relevant regulations are complied with. 105.5(vi) Procurement of sand/soil by units of GIDC, EPSEZ, Gandhinagar and GIDC Ahmedabad Apparel Park SEZ, Ahmedabad and ratification of approval granted under delegation of powers granted to DC. The propos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... per of an IT/ITES SEZ at Hiranandani Estate Off. Ghodbundar Road, Village Kevesar, Thane for approval of sand procurement for construction activity as per default authorized operations. The proposal from DC, SEEPZ SEZ for ratification of approval granted to M/s Roma Builders Pvt. Ltd. for procurement of 80 cu.m. of sand for construction activity was placed before the Board of Approval. 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 subject to the condition that it should be ensured that the allowed item is actually used in the SEZ and all the environmental and other relevant regulations are complied with. 105.5(ix) Request of M/s. Larsen & Toubro Infotech Limited, developer of IT/ITES SEZ at Plot no.EL-200 (Part), TTC Industrial Area, Village Mahape, Navi Mumbai for approval of procurement of Crusher Sand bearing HSN Code (25171090) required for their various construction activity as per default authorized operations. The proposal from DC, SEEPZ SEZ for ratification of approval granted to M/s Larsen & Toubro Infotech Limited for procu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s, approved the proposal of M/s. Fulcrum Worldwide Software Pvt. Ltd. for co-developer status for the purpose of construction of all type of buildings in processing area, operation and maintenance of infrastructure and leasing of floors to SEZ units and all other authorized operations over an area of 0.60 hectares (6000 sq. mtr) in accordance with the co-developer agreement dated 11.10.2019 entered into with the developer subject to standard terms and conditions as per the SEZ Act and Rules provided that the lease period shall be in accordance with DoC's Instruction No. 98 dated 29.08.2019. 105.6(ii) Request of M/s. Infinit Infratech LLP., for approval as a Co-Developer in Plot No. 13/4, MIDC-IT/ITES SEZ, Rajiv Gandhi Infotech Park, Hinjewadi, Phase-III, Pune. DC, SEEPZ informed the Board that the LoA of the unit stands lapsed. The unit did not execute even BLUT and hence, neither any transaction nor any construction activity happened. DoR noted that it is not clear from the proposal if the unit has remitted all the dues payable at the time of exit. The Board, after deliberations, decided to defer the proposal and directed the DC to confirm the status of dues and exit of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is sought 1 Information related to Bank Account, PAN, IEC Number Under Rule-17 & 18 of the SEZ Rules, 2006 (Form-F - Application) 2. Payment of application fee Under Rule-17 of the SEZ Rules, 2006 (Form-F - Application) 3. Annual Performance Report Under Rule-22 of the SEZ Rules, 2006 4. Details related to Net Foreign Exchange Earning Under Rule-53 of the SEZ Rules, 2006 5 Details of equity including foreign investment Under Rule-17 & 18 of the SEZ Rules, 2006 (Form-F -Application) 6. Directors details Under Rule-17 & 18 of the SEZ Rules, 2006 (Form-F -Application) 7 Details of items of manufacture/service activity Under Rule-17 & 18 of the SEZ Rules, 2006 (Form-F-Application) 8 Details of investment, source of finance & material and input required Under Rule-17 & 18 of the SEZ Rules, 2006 (Form-F - Application) 9 Details related to infrastructure (space, water, power etc.) Under Rule-17 & 18 of the SEZ Rules, 2006 (Form-F - Application) 10 Details of employment Under Rule-17 & 18 of the SEZ Rules, 2006 (Form-F - Application) 11 Details of marketing collaboration and industrial license Under Rule-17 & 18 of the SEZ Rules, 200 (For ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dah and their stocks are ready. They shall commence export within a period of three months and are expecting to achieve an annual turnover of approx. ₹ 5 crore. The Board, after deliberations, decided to allow the appeal and restore the LoA of the appellant. Decision on Supplementary Agenda 105.10 Miscellaneous Cases (One proposal) 105.10 (i) Proposal for grant of in-principle approval to initiate the process of allotment of space in SDF-VIII in SEEPZ SEZ. The Board noted that the earlier observations of the BoA were in light of the appeals filed by the G&J units which were rejected by the Board. As consideration of proposals for setting up of unit in SEZ in terms of Rule 18 of the SEZ Rules and allotment of space to a unit falls within the purview of the UAC, the Board decided to remand the matter to UAC. ****** ANNEXURE - I List of Participants for the Meeting of the Board of Approval for Special Economic Zones held on 29th July, 2021 under the Chairmanship of Commerce Secretary, Department of Commerce. l. Shri B.V.R. Subrahmanyam, Chairman, BoA & Commerce Secretary, Department of Commerce. 2. Shri S. Kishore, Additional Secretary, Department of Commerce. 3. Shr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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