Minutes of 139th meeting of Board of Approval for SEZ, held on 11th May, 2026.

ilY/ Vanijya Bhawan, New Delhi Datedthe 25hMay,zoz6

Subject: r39tt Meeting of the Board of Approval on Special Economic Zones (SEZs)

held on rrth May, 2026- Reg. Please find enclosed herewith Minutes of the r39th meeting of the Board of Approval for SEZs held on l1th May, zoz6 for information and necessary action. OFFICEMEMORANDUM 2. The Development on the directions of BoA. Commissioners are requested to take urgent necessary action, Under Secretary to the Government of India Tel:23039939 Emai I : prateekbajpai.moca@nic.in To r. Central Board of Excise and Customs, Member (Customs), Department of Revenue, Nofth Block, New Delhi. (Fax: z3o9e6z8). 2. Central Board of Direct Taxes, Member (IT), Department of Revenue, North Block, New Delhi. (Telefax: 27og21o7). g. Joint Secretary, Ministry of Finance, Department of Financial Services, Banking Dir.ision, Jeevan Deep Building, New Delhi (Fax:2934446212936679). 4. Joint Secretary, Department of Promotion of Industry and Internal Trade (DPIIT), Udyog Bhawan, New Delhi. 5. Joint Secretary, Ministry of Shipping, Transport Bhawan, New Delhi. 6. Joint Secretary (E), Ministry of Petroleum and Natural Gas, Shastri Bhawan, New Delhi 7. Joint Secretary,, Ministry of Agriculture, Plant Protection, I0ishi Bhawan, Ner. Delhi. B. Ministry of Science and Technology, Sc 'G' & Head (TDT), Technologz Bhavan, Mehrauli Road, Neu. Delhi. (Telefax: 26862512) 9. Joint Secretary, Department of Biotechnology, Ministry of Science and Technology, lh Floor, Block z, CGO Complex, Lodhi Road, New Delhi - 11o oo3. 10. 10.

uli Road, Neu. Delhi. (Telefax: 26862512) 9. Joint Secretary, Department of Biotechnology, Ministry of Science and Technology, lh Floor, Block z, CGO Complex, Lodhi Road, New Delhi - 11o oo3. 10. 10. Additional Secretary and Development Commissioner (Micro, Small and Medium Enterprises Scale Industry), Room No. 7or, Nirman Bhavan, New Delhi (Fax: z3o6z315). 11. Secretary, Department of Electronics & Information Technology, Electronics Niketan, 6, CGO Complex, New Delhi. (Fax: z4363ror) No. K-43o16/10 / 2126-SEZ Government of India Ministry of Commerce and Industry Department of Commerce (SEZ Section) ,&W

Joint Secretary (IS-I), Ministry of Home Affairs, North Block, New Delhi Joint Secretary (C&W), Ministry of Defence, Fa;c 23075444, South Block, Nerv Delhi. Joint Secretary, Ministry of Environment and Forests, Pariyavaran Bhavan, CGO Complex, Nerv Delhi - 11ooog (Fax:24363577) Joint Secretary & l,egislative Counsel, Legislative Department, M/o Larv & Justice, A-Wing, Shastri Bhavan, New Delhi. (Tel: z33BZo9S). Department of l,egai Affairs (Shri Hemant Kumar, Assistant Legal Adviser), M/o Law & Justice, New Delhi. Secretary, Department of Chemicals & Petrochemicals, Shastri Bhawan, Nett' Delhi Joint Secretary, Ministry of Overseas Indian Affairs, Akbar Bharvan, Chanakyapuri, New Delhi. Chief Planner, Department of Urban Affairs, Tot'n Country Planning Organisation, Vikas Bhavan (E-Block), I.P. Estate, Nerv Delhi.

y of Overseas Indian Affairs, Akbar Bharvan, Chanakyapuri, New Delhi. Chief Planner, Department of Urban Affairs, Tot'n Country Planning Organisation, Vikas Bhavan (E-Block), I.P. Estate, Nerv Delhi. (Fax: z3oT36T8 lzSSZgtgZ) Director General, Director General of Foreign Trade, Department of Commerce, Udyog Bhavan, Nerv Delhi. Director General, Exporl Promotion Council for EOUs/SEZs, BG, Bth Floor, Hansalaya Building, t5, Barakhamba Road, New Delhi - rro oo1 (Fax: 22332977c.) Dr. Rupa Chanda, Professor, Indian Institute of Management, Bangalore, Bennerghata Road, Bangalore, Karnataka Development Commissioner, Noida Special Economic Zone, Noida. Development Commissioner, Kandla Special Economic Zone, Gandhidham. Development Commissioner, Falta Special Economic Zone, Kolkata. Development Commissioner, SEEPZ Special Economic Zone, Mumbai. Development Commissioner, Madras Special Economic Zone, Chennai Development Commissioner, Visakhapatnam Special Economic Zone, Visakhapatnam Development Commissioner, Cochin Special Economic Zone, Cochin. Development Commissioner, Indore Special Economic Zone, Indore. Development Commissioner, Mundra Special Economtc Zone, 4th F1oor, C Wing, Port Users Building, Mundra (Kutch) Gujarat. Development Commissioner, Dahej Special Economic Zone, Fadia Chambers, Ashram Road, Ahmedabad, Gujarat Development Commissioner, Navi Mumbai Special EconomicZone, SEEPZ Sen'ice Center, Central Road, Andheri (East), Mumbai - 4oo o96 Development Commissioner, Sterling Special Economic Zone, Sandesara Estate, Atladra Padra Road, Vadodara - 39oo12

al EconomicZone, SEEPZ Sen'ice Center, Central Road, Andheri (East), Mumbai - 4oo o96 Development Commissioner, Sterling Special Economic Zone, Sandesara Estate, Atladra Padra Road, Vadodara - 39oo12 Development Commissioner, Andhra Pradesh Special Economic Zone, Udyog Bhanan, gs Floor, Siripuram, Visakhapatnam - 3 Development Commissioner, Reliance .Iamnagar Special Economic Zone, Jamnagar, Gujarat Administrator (IFSCA) International Financial Sen'ices Centres Authority, 2nd & 3rd Floor, PRAGYA Tower, Block :.5, Zone 1, Road 1C, GIFI SEZ, GIFI City, Gandhinagar, Gujarat Development Commissioner, Surat Special Economic Zone, Surat, Gujarat Development Commissioner, Mihan Special Economic Zone, Nagpur, Maharashtra Development Commissioner, Sricity Special Economic Zone, Andhra Pradesh. Development Commissioner, Mangalore Special Economic Zone, Mangalore. t4 15. 76. t7 1B 19. )1 22. 24. 25. 26. zB. 29. 3o. Ja. .)J. 34. 35. 36. J/. 38. 39. 40. 41.

44 42. 43 45. 46. a/. 48. 49. 5o. Government of Andhra Pradesh, Principal Secretary and CIP, Industries and Commerce Department, A.P. Secretariat, Hyderabad - 5ooo22. (Fax: o4o- 2345289d. Government of Telangana, Special Chief Secretary, Industries and Commerce Department, Telangana Secretariat Khairatabad, Hyderabad, Telangana. Government of Karnataka, Principal Secretary, Commerce and Industry Department, Vikas Saudha, Bangalore - S6ooo1.

ies and Commerce Department, Telangana Secretariat Khairatabad, Hyderabad, Telangana. Government of Karnataka, Principal Secretary, Commerce and Industry Department, Vikas Saudha, Bangalore - S6ooo1. (Fax: oBo-zzz59B7o) Government of Maharashtra, Principal Secretary (Industries), Energy and Labour Department, Mumbai - 4oo o32. Government of Gujarat, Principal Secretary, Industries and Mines Department Sardar Patel Bharvan, Block No. 5, 3rd Floor, Gandhinagar - 382o1o (Fax: o79- 23250844). Government of West Bengal, Principal Secretary, (Commerce and Industry), IP Branch (4th Floor), SEZ Section, 4, Abanindranath Tagore Sarani (Camac Street) Kolkata - 7oo ot6 Government of Tamil Nadu, Principal Secretary (Industries), Fort St. George, Chennai - 6oooo9 (Fax: o44-z537o9zz). Government of Kerala, Principal Secretary (Industries), Government Secretariat, Trivandrum - 695oor (Fax: o47r-2333or7). Government of Haryana, Financial Commissioner and Principal Secretary), Department of Industries, Haryana Civil Secretariat, Chandigarh (Fax: orTz-274o526). Government of Rajasthan, Principal Secretary (Industries), Secretariat Campus, Bhagrvan Das Road, Jaipur - 3o2oo5 @t 4t-zzz77\B). Government of Uttar Pradesh, Principal Secretary, (Industries), Lal Bahadur Shastri Bhau,an, Lucknow - 226oot (Fax: o5zz-zz38z55). Government of Punjab, Principal Secretary Department of Industry & Commerce Udyog Bhar,r'an), Sector -r7, Chandigarh- t6oot7. Gor.ernment of Puducherry, Secretary, Department of Industries, Chief Secretariat, Puducherry.

Principal Secretary Department of Industry & Commerce Udyog Bhar,r'an), Sector -r7, Chandigarh- t6oot7. Gor.ernment of Puducherry, Secretary, Department of Industries, Chief Secretariat, Puducherry. Government of Odisha, Principal Secretary (Industries), Odisha Secretariat, Bhubaneshrvar - ZSToot (Fax: o67r-536 819 I 2406299). Government of Madhya Pradesh, Chief Secretary, (Commerce and Industry), Vallablr Bhavan, Bhopal (Fax: oTSS-2SSgg74) Government of Uttarakhand, Principal Secretary, (Industries), No. 4, Subhash Road, Secretariat, Dehradun, Uttarakhand Government of Jharkhand (Secretary), Department of Industries Nepal House, Doranda, Ranchi - 834ooz. Union Territory of Daman and Diu and Dadra Nagar Haveli, Secretary (Industries), Department of Industries, Secretariat, Moti Daman - 396220 (Fax: oz6o- 223C.775). Government of Nagaland, Principal Secretary, Department of Industries and Commerce), Kohima, Nagaland. Government of Chattishgarh, Commissioner-cum-Secretary Industries, Directorate of Industries, LIC Building Campus, 2n.r Floor, Pandri, Raipur, Chhattisgarh. 51. 52. 53. 54. 55. 56. 57. 58. 59. 6o. 67. Copy to:- PSO to CS / PPS to AS(AB) / PS to JS (VA)/ ST.PPS to Dir (GP).

ate of Industries, LIC Building Campus, 2n.r Floor, Pandri, Raipur, Chhattisgarh. 51. 52. 53. 54. 55. 56. 57. 58. 59. 6o. 67. Copy to:- PSO to CS / PPS to AS(AB) / PS to JS (VA)/ ST.PPS to Dir (GP).

Minutes for the tBgth mecting of the Board of Approval for Special Economic Zones (SEZs) to be held on rtth May, z0z6 The One Hundred and Thirty-Nine (rggth) meeting ofthe Board of Approval (BoA) for Special Economic Zones (SEZs) was held on l1th May, zoz6, through hybrid mode. The list of participants is at Annexure-I. The item-wise decisions takr:n bv the Board are as below:- Agenda Item No. r39. r: Ratification of the minutes of the r38th meeting of the Board of Approval firr Special Economic Zones (SEZs) held on 2B.d March, 2026, The Board ratified the minutes of the 138th meeting of the BoA for SEZs held on z3.a March, zoz6. r3g.z(i) Request of M/s, Balaxi Pharmaceuticals Limited, unit in M/s. TSIIC Limited for extension of Letter of Approval (LOA) beyond 4th April, 2026 for extension upto :lrd April, 2027. DC, VSEZ, informed the Board that the Letter of Ap-proval (LoA) was issued to the unit on o4.o4.2o22 and was valid up to 02.04.2026. The unit has not yet commenced commercial operations; horvcver, the physical progress of the project has been too% completed. It was further iniormed that the unit had applied for extension of the LoA prior to its expiry. The delay in commencement of operations was mainly due to pending regulatory approvals and conrpliance requirements rriating to the Pharma F-ormulation Project, including inspections and validation processes.

in commencement of operations was mainly due to pending regulatory approvals and conrpliance requirements rriating to the Pharma F-ormulation Project, including inspections and validation processes. The contpany has completed all technical preparalions, obtained the Drug Test Manufacturing License, and successfully conducted trial runs. The facility is fullv ready for operations, and only the final Manufacturing Drug License from the Drugs Control Administration, Telangana, is pending. The unit has inforr.ned that commercial production and exports will commence immediately after receipt of thc final approval. Accordingly, the Board being satisfied that it is necessary and expedient in pursuance to third proviso to Ruie r9(4) of SEZ Rules, 20tl6, granted extension of validity of LoA for a further period of one year, i.e., upto o3.o4.2027. t3g.z(ii) Request of M/s. Northern Arc Investmen[ Managers Private Limited, GIFT-Multi Services -SEZ, Gandhinagar for cxtension of Letter of Approval (LOA) beyond 4th July, 2oz5 for extension upto 4th July, 2o26, u Page 1 of 39

thern Arc Investmen[ Managers Private Limited, GIFT-Multi Services -SEZ, Gandhinagar for cxtension of Letter of Approval (LOA) beyond 4th July, 2oz5 for extension upto 4th July, 2o26, u Page 1 of 39

O/o Administrator, IF'SCA, informed the Board that M/s. Northern Arc In.,zestment Managers Private Limited, a unit in IFSCA, GIFI-SEZ, was issued LoA on o;.o7.2cl22. which was valid up to o4.o7.2o2S. The unit has applied for extension of the l,oA after its expiry. The delay in commencement of operations was due to unforeseen developments relating to capital commitments. 'l-h e unit has since launched the "Northern Arc Blue Horizon Fund'l in the IFSC and is seeking registration as a Category II Restricted Alternative Investment Fund (AIF) under IFSCA regulations. The scheme has received SEZ approval, and the unit is presently in the process of obtaining the required registrations, including IFSCA registration, GST, IEC, and RCMC. In this regard, DGEP observed that the validity of the LoA of the unit had expired on o4.o7.2o25 and the tenabilit-v of the proposal for extension, in view of Rule r9(5) of the SEZ Rules, 2006, required deliberaticn. In response, IFSCA informed the Boarri that the delay in filing the application for extension on the part ofthe unit was due to oversight; however, the unit has demonstrated clear intent to make the operations functional. It was further informed that there is no shortage of space for accommodating new units in the IFSC.A and, therefore, extension of the LoA would not adversely affect any other stakeholder or prospective unit.

urther informed that there is no shortage of space for accommodating new units in the IFSC.A and, therefore, extension of the LoA would not adversely affect any other stakeholder or prospective unit. The unit has already provided explanation for delay and expressed regret for the delay and assured the Board that it is taking necessary steps to operationalise the unit at the earliest. Further, the Board deliberated upon the matter and obsen,ed that there are adequate precedents for granting such extensions and that no adverse impact lvould arise from the proposed cxtension of the LoA. Accordingly, the Board being satisfied that it is necessary and expedient in pursuance to third proviso to Rule rg(4) of SEZ Rules, 2006, granted er:tension of validity of LoA for a firrtler period of one year, i-e., :upto o4.o7.2026. Furthermore, the Board again directed all the DCs including Administrator IFSCA to mandatorily review expiry of LoA of units on periodic basis and ensure that there are no cases of request of extension after expiry of validity of l,oA. AII DCs should maintain and review which units/SEZs have expiry in next 6 months and pursue to submit their renewal request prior to 3 months of validity the LoA and complete procedure in due time to nraintain hygiene and avoid dormancy. The Board also observed that all other DCs are already following this process and directed IFSCA to strictly adhere to the said instructions in future. r39.2(iii) Request of M/s. Transhermes Aero IFSC h/t.

ard also observed that all other DCs are already following this process and directed IFSCA to strictly adhere to the said instructions in future. r39.2(iii) Request of M/s. Transhermes Aero IFSC h/t. Ltd., unit in GIFT - Multi Services SEZ for extension of Letter of Approval (LOA) beyonfl r6t' October, 2o2S for extension upto loth Octot er, 2o26. o/o Administrator, IFSCA, informed the Roard that M/s. Transhermes Ae.o IF'sc pr.t. Ltd., a unit in IFSCA, GIFT-SEZ, was issued LoA on rr.rz.zozr and it was valid up to 1o.1o.2o25. Further, it was informed that the unit had applied for extension of the LoA V Page 2 of 39

vide application dated zz.o9.zo25, i.e., prior to its expiry of LoA. IFSCA explained that the delay in commencement of operations was due to delays in investor funding and regulatory impact following thc Char Dham helicopte r incidents. However, the unit is pursuing a secured line of credit for acquisition of aircraft and fr-xed-wing helicopters, and has already paid an advance amount of {5o lakh for securing an aircraft proposed to be leased. In this regard, DGEP observed that the validity of LoA for unit has expired on 28.02.2cl26 and tenability of proposal for extension in view of Rule t9(5) of SEZ Rules eoo6, needs to be discussed.

ed. In this regard, DGEP observed that the validity of LoA for unit has expired on 28.02.2cl26 and tenability of proposal for extension in view of Rule t9(5) of SEZ Rules eoo6, needs to be discussed. In response, O/o Administrator IFSCA informed that the Unit had r,;ubmitted its initial request for further extension of LoAon zz.og.zoz5 prior to its expiry of LoA within the specified time but due to poor drafting of application, unit was requested to rectify and therefore, it got dela1,ed. Accordingly, the Board being satisfied that it is necessary and expedient in pursuance to third proviso to Rule r9(4) of SEZ Rules, zoo6, granted extension of validity of LoA for a further period ofone year, i.e., upto 1tl.1o.2026. 139.2(ir') Request of M/s. Kairne Capital IFSC Private Limited, clFf-Multi Services -SEZ, Gandhinagar for extension of Letter of Approval (LOA) lreyond zTth March, 2024 upto zlh September,2o26. O/o Administrator, IFSCA, informed the Board that M/s. Kairne Capital IFSC Private Limited, a unit in IFSCA, GIIT-SEZ, was issued a LoA on 28.09.2022 and it was valid up Io 27.o5.2o24. The unit has applied for extension of LoA after its expiry. It was further informed that the unit had applied to IITSCA for Fund Entity approval on ot.o5.zoz3 and is awaiting approval for shareholding changes to meet the net worth requirements prior to applying for a Category Ii AIF licence. Upon obtaining the AIF licence, Capital Trust will commence operations and open a bank account.

hareholding changes to meet the net worth requirements prior to applying for a Category Ii AIF licence. Upon obtaining the AIF licence, Capital Trust will commence operations and open a bank account. IFSCA further informed that the unit has finalized a proposed investment of USD 5oo million for a new Real Estate and Green Energy Fund scheme, which is proposed to be subscribed through HNIs and t:ompanies. In addition to above, O/o .Adnrinistrator (IFSCA) has conveyed that it has no objection to regularize the LOA validity by granting extension for the p.s1i6d from zB.o3.zoz4 to 27.og.zo2; and requested BoA to consider the same. Since the unit does not appear to have completed two-thirds of activities for commencernent of operations, IFSCA also requested Board to consider the extcnsion of LOA for the period from z8.og.zoz5 to 27.o9.2lo26 to tlle unit. In this reg,ard, DGEP observeC. that the valiiliry of the LoA of the unit had expired on 27,o5.2o24 and the tenability of the proposal for extension, in view of Rule r9(5) of the SEZ RuIes, 2oo6, required deliberation. v Page 3 of 39

t the valiiliry of the LoA of the unit had expired on 27,o5.2o24 and the tenability of the proposal for extension, in view of Rule r9(5) of the SEZ RuIes, 2oo6, required deliberation. v Page 3 of 39

In response, IFSCA informed the Board that the delay in filing the application for extension on the part of the unit occnrred due to internal administrative and procedural circumstances; however, the unit has demonstrated tlear intent to make the operations functional. Further, there is no shortage of space for accommodating new units itr the IFSCA and, therefore, extension of the [.oA would not adversely affect any other stakeholder or prospective unit. Accordingly, the Board being satisfied that it is neecssary and expedient in pursuance to third proviso to Rule rg(4) of SEZ Rules, 2006, regularise the extension for the period from z8.o3.zo24 Io 27.c9.2025 and granted extension of validity of LoA for upto 27.o9.2026. Agenda Item No. rB9.B: Request f<rr extcnsion ofFornral approval ofSEZ I r proposal -t3g,B(i)] 1S9.3(i) Proposal of M/s. Larsen & Toubro Limited for extension in the validity period of formal approval granted for setting up of II'/ITI1S SEZ at Ramapuram, Maduravoyal Taluk, Chennai. Tamil Nadu for further period of one-year upto o4.07.2o27-Reg, DC, MEPZ informed the Board that formal approval was granted to M/s. Larsen & Toubro Limited oo o4.o7.2o2S, which is valid up to a3.o7.2026. tlc, MEPZ further, informed that the SEZ stands notified as on clate and due to delays in obtaining construction approvals operationalization of SEZ is delayed.

2o2S, which is valid up to a3.o7.2026. tlc, MEPZ further, informed that the SEZ stands notified as on clate and due to delays in obtaining construction approvals operationalization of SEZ is delayed. It was added that the delay arises due to the factors which are beyond the control of Develcper. 'l'herefore, the commencement of commercial production by the prospective SEZ Units on or before o3.o7.2026 rnay not be feasible. Accordingly, the developer has requested extension of the approval up to So.og.2027, i.e., for a further period of r year and 3 months. The Board observed that though the SFI,Z Rules do not have explicit provisions regarding period of extension of Formal Approval. However. it was noted that there are precedents for granting extensions of LoA for 1 year at a time to Units. Accordingly, the Board being satisfied rvith the written explanation/justification submitted by Developer and recommendation by DC, Madras SEZ, in pursuance to proviso to Rule 6(z)(b) of SEZ Rules, zoo6, granted extension of validity ofthe Formal Approval for a further period of one year, i.e., up to o4.o7.2022. Request for full/partial de-notification/ increase area of SF,Z | 6 proposals r89.4(i) - 139.4(vi)l V Page 4 of 39 Agenda Item No. 139.4:

al for a further period of one year, i.e., up to o4.o7.2022. Request for full/partial de-notification/ increase area of SF,Z | 6 proposals r89.4(i) - 139.4(vi)l V Page 4 of 39 Agenda Item No. 139.4:

r.39,4(i) Proposal of M/s Mangalore SEZ Limited, Developer for partial de-notification of r,t558 Ha and an increase in area of 27.oog1 Ha of Multi Product SEZ at Baikampady, Near Mangalore, Dakshina Kannada District, Karnataka. DC, Mangalore SEZ informed the Board that the M/s. Mangalore SEZ Limited, Developer has proposed for partial de-notification ofof r. r558 Ha and for increase in area of z7.oo93 Ha in the SEZ. The Board was informed that de-notification is proposed to convert undeveloped land parcel of r.1558 hectares into DTA area for setting up a petroleum by- product industry by D'lA unit; whereas the reason for increase in SEZ area is due to augment in the country's strategic petroleum reserves within the MSEZ notified area and subsequent requirement of additional land from DTA Area. The Board was further inforrned that on-site inspection was conducted in presence of SEZ officials along with State Revenue Authority wherein it was confirmed that the land to be de-notified is vacant and area remaining after the proposed partial de-notification is contiguous meeting all the requirernents of area/built-up area in terms of SEZ Act and Rules and without any public thoroughfare. The DC also certified that there are no units in the SEZ area proposed for de-notification and the Developer has not availed any Tax/Duty benefits under the SEZ Act/Rules, in

any public thoroughfare. The DC also certified that there are no units in the SEZ area proposed for de-notification and the Developer has not availed any Tax/Duty benefits under the SEZ Act/Rules, in respect ofthe land being de-notified. Further, DC informed that all terms and conditions required for partial denotification of r.r558 Ha and increase in area of z7.oog3 Ha have been nret including the contiguity condition and State Gort. has provided its recommendation for the proposal. The Board, after deliberations, approved the request of M/s Mangalore SEZ Limited for partial de-notification of r.1SS8 Ha and increase in area of SEZ by z7.oo9g Ha to their existing SEZ at Baikampady, Near 1\langalore, Dakshina Kanrrada District, Karnataka. 139.4(ii) Request of M/s. Serum Bio-Pharma Park, a Pharrnaceutical and Bio-technology SEZ at Hadapsar, Pune (Developer) for increase in area of 2,6o49 Hectares to the existing area of 16.o1o4 Ha, DC, SEEPZ SEZ informed the Board that the M/s. Serum Bio-Pharma Park has proposed to increase area of SEZ by 2.6c49 Halocated at Hadapsar lz.Sz4g Hcctaresl andManjari [o.o8oo Hectares], Taluka Haveli District - Pune, Maharashtra, due to the reassessment of business potential and the proposed development o1' existing industrial infrastructure and conrmon services on the additional land for the benefit of units in the SEZ, it is expected to enhance capacitv through the expansion of opelations of i.he existing SEZ units. DC, further informed that the contiguity of the SEZ area has been maintained and 9 Page 5 of 39

EZ, it is expected to enhance capacitv through the expansion of opelations of i.he existing SEZ units. DC, further informed that the contiguity of the SEZ area has been maintained and 9 Page 5 of 39

the Developer holds irrevocable rights over the land, and all applicabie terms and conditions prescribed for the increase in SEZ area have been duly complied with. The Board, being satisfied, in pursuance to first proviso to Rule 8 of SEZ Rules, zoo6 approved the increase in the area of 2.6o49 Ha in their the SEZ developed by M/s. Serum Bio-Pharma Par*, of Pharmaceutical and tsio-technology SEZ at Hadapsar, pune making total area of SEZ as 18.6153 Ha. rSq.+(iii) Rcquest of M/s Renaissance Designbuild prt Ltd, Developer for full de-notification of ro.r t8 Ha, of land in IT/ITES SEZ at Koorgalli, Mysore, Karnataka, DC, CSEZ informed the Boarcl that the NI/s Renaissance Designbuild hit Ltd, has requested for full de-notification of the entire sEZ due to significant decline in demand for SEZ space due to economic uncertainty, recessionary conditions in the IT/ITES sector, and withdrawal of Income Tax benefits under the SEZ Scheme. DC further informed that the Developer subnritted application for full de-notification in september zorz without enclosing the No objection certificate (Noc) from the state Government. NOC was denied seeking paynnent of interest on the stamp duty exemption that had earlier been availed by the Developer. Aggrieved by the said demand, the Developer filed Writ Petition before the Hon'ble I{igh Court of Karnataka.

nt of interest on the stamp duty exemption that had earlier been availed by the Developer. Aggrieved by the said demand, the Developer filed Writ Petition before the Hon'ble I{igh Court of Karnataka. Hon,ble High court disposed of the writ Pctition on 1s.1o.2o23 granting waiver of the intercst component. Thereafter, the State Government issued No objection certificate for said full -den otification. The Board rvas further apprised that there are no units in the sEZ and Developer has not availed any duty benefits under the sEZ Act/Rules from sEZ authority. Further the DC certified that all conditions as required under the SEZ Act/Ruies are fully met for the proposed full denotification of ro.u8 Ha. of land in IT/ITES SEZ at Koorgalli, Mysore, Karnataka tSg.+(iv) Proposal of M/s. Ganesh Housing Corporation Limited, Developer for partial de-notification of 6.7919 Ha out of 3z.7ogz Ha of IT/ITES at Village Tragad and Chharodi, Talika Dascroi, Ahmedabad, Gujarat, .2 ,2/ Page 6 of 39 The Board, being satisfied, in pursuance to first proviso to Rule 8 of sEZ Rules, zoo6 approved the full de-notification of ro.rr8 Ha of M/s Renaissance Designbuild prt. Ltd., IT/ITES SEZ at Koorgalli, Mysore, Karnataka.

fied, in pursuance to first proviso to Rule 8 of sEZ Rules, zoo6 approved the full de-notification of ro.rr8 Ha of M/s Renaissance Designbuild prt. Ltd., IT/ITES SEZ at Koorgalli, Mysore, Karnataka.

DC, KASEZ informed the Board that the reasons for the instant partial de-notification proposal is due to falling in Town Planning Scheme which was finalized on z9/o6f zozo & t6loTlzozct. It was informed that pursuant to the finalization of the Town Planning Scheme, the SEZ area has been revised from scattered provisional survey/block numbers to a finalized contiguous area of 25.9163 hectares by AUDA, resulting in reduction ofarea proposed lor de-notification. The Board was further informed that on-site inspection was conducted on o5.oz.zoz6 in the presence of SEZ officials along with State Revenue Authority wherein it was confirmed that the contiguity of the remaining SEZ area (25.9163 hectares) is retained after consideration of the proposed decrease of (6.Z.gt g hectares) land area. The DC also certified that there are no units in the SEZ area proposed for de-notification and the Developer has not availed any Tax/Duty benefits under the SEZ Act/Rules, in respect of the land being de-notified and State Govt.

ere are no units in the SEZ area proposed for de-notification and the Developer has not availed any Tax/Duty benefits under the SEZ Act/Rules, in respect of the land being de-notified and State Govt. has provided its 'No Obiection'. Furlher the DC certified that all conditions as required under the SEZ Act/Rules are fully met for the proposed partial denotification including the contiguity condition. DC KASEZ while recomniending the proposal for partial de-notification also requested for cancellation of the earlier notification related to the SEZ and requested for re- notification ofthe entire 25.9163 hectares based on the revised plot numbering issued by ALTDA. The Board, being satisfied, in pursuance to first proviso to Rule 8 of SEZ Rules, zoo6 approved the partial de-notification of 6.79t9 Ha out of 32.7c'82 Ha of M/s. Ganesh Housing Corporation Limited, 1T/ITES at Village Tragad and Chharodi, Talika Dascroi, Ahmedabad, Gujarat and also directed for issuance offresh notification with revised plot number superceding the earlier notifications. DC, VSEZ informed the Board that the reasons for the instant full de-notification proposal is that the Developer were unable to commence construction due to external factors and delays in achieving financial closure. Many companies were reluctant to participate, primarily due to the project's distance from the city, which was perceived as a signifiiant drawback. The Formal Approval expired/lapsed on 25.1o.2oo9.

. Many companies were reluctant to participate, primarily due to the project's distance from the city, which was perceived as a signifiiant drawback. The Formal Approval expired/lapsed on 25.1o.2oo9. The Developer has not approached for extension of validity of their Formal Approval even after lapse of more than 16 years nor carried any tlevelopment activi$ for impleinentation of the SEZ. Further, the DC also certifiecl that there are no units in the SEZ area proposed for de- notification and the Developer has not availed any Tax/Duty benefits under the SEZ Page 7 of 39 139,4(v) Request of M/s. Rudradev Infopark Private Limited, Developer for full de-notifrcation of rz.z5 Ha. of IT/ITES SEZ at Kistapur Village, Chevella Mandal, Randa Rcddy District, Telangana -reg.

Act/Rules, in respect of the land being de-notified. ln this regard, the state Government stated that - "VSEZ to take an appr:opriate decision, as the State Government has not recommended the case for de-notification of the said SEZ". The DC, vsEZ furthel apprised that the Developer had not obtained any recommendation from the state Government at the time of notification of the sEZ and it has not taken any benefits or concessions from any state Government authority, as the land is under the Developer's personal ownership and possession. The Developer purchased the land directly from the landowners after following the due legal procedures.

e Government authority, as the land is under the Developer's personal ownership and possession. The Developer purchased the land directly from the landowners after following the due legal procedures. Further it was clarified that there was no involvement of the state Government in the purchase or acquisition of the land for sEZ purposes and after completion of the de-notification process, the Developer will continue to hold the land in its own capacity, as the land was independently purchased by the Developer. The Board observed that the language of the letter of State Go,t. is ambiguous and prone to future misinterpretations Hence, it was decided to defer the proposal for the full de- notification of rz.z5 Ha of M/s. Rudradev Infopark Private Limited of IT/ITES SEZ at Kistapur Village, Chevella Mandal, Randa Reddy District, Telangana and directed the DC, VSEZ to pursue with the State Gort authority tbr clarification of its position. Ug.+(vi) Request of M/s. J Matadee FTWZ private Limited, a FTWZ SEZ at Mannur Valarpuram Village, Perambakkam Road, Sriperumbudur Talik, Kanchipuram, Tamil Nadu (Developer) for increase in area of r.485o Hectares to the existing area of 99.220 Ha, DC, MEPZ informed the Board that Developer has requested for increase in area oftheir FTWZ SEZ admeasuring of r.485o hectare for expansion of processing area. It was inspected on 13.o3.zoz6 in presence SEZ officials and State Gor4. authorities. After additional area, the total area of J Matadee FTIWZ SE,Z would be 10o.7o.So Hectarc.

ion of processing area. It was inspected on 13.o3.zoz6 in presence SEZ officials and State Gor4. authorities. After additional area, the total area of J Matadee FTIWZ SE,Z would be 10o.7o.So Hectarc. DC also submitted that the sEZ fulfils the contiguity conditions stipulated under Rule 5 (Read with Rule Z) of the SEZ Rules zoo6.Further, State Govcrnment has also recommended the proposal of additional SEZ land of an area of t.4B5o Ha. The Board, after deliberations, approved the request of M/s. J Matadee FTWZ private Limited for increase in area of r.485o hectares to their FTWZ SEZ at Mannur valarpuram Village, Perambakkam Road, Sriperumbudur Talik, Kanchipuram, Tamil Nadu making total area of SEZ as roo.7o5o Ha. Request for setting up of new StsZ [ 3 proposals -rSq,S(i)- r39,5(iii)] Page 8 of 39 Agcnda Item No. r39.S: ='/

r3g.S(i) Request of M/s. J. Matadee Manufacturing Park Private Limited for seeking In-Principle approval for setting up of Multi sector SEZ at Pallur Village, Arakkonam Taluk, Ranipet District, Tamil Nadu. rgq.;(ii) Request of M/s. Essar Power Limited seeking In-Principle approval for setting up of Sector specific Petrochemicals & Petro SEZ in Salaya Gujarat at Village Kajurda, Taluka Khambhalia, Distt. Devhhumi Dwarka, Gqiarat over an area of56,65o8 Ha, DC, KASEZ infornred that NI/s. Essar Porver Limited has sought In-principle approval for setting up of sector specific Petrochernicals & Petro SEZ in Salaya Gujarat at Village Kajurda, Taluka Khambhalia, Distt.

nfornred that NI/s. Essar Porver Limited has sought In-principle approval for setting up of sector specific Petrochernicals & Petro SEZ in Salaya Gujarat at Village Kajurda, Taluka Khambhalia, Distt. Devbhumi Dwarka, Gujarat over an area of S6.65o8 Ha and it has proposed to invest {5o cr with estimated export of l7t6z9 cr and emplol'ment generation of approx. 894 directt indirect persons over a period of 5 years. Further it was infon.ned that the State Gor.t has recommenr]erl the proposal. The Board. after deliberations, granted "In-Principle" approval to the proposal of M/s. Essar Pou'er Limited for setting up of N{ulti Sector S[,2 at Village Kajurda, Taluka Khambhalia, Distt. Devbhumi Dwarka. Gujarat over an area of 56.65o8 Ha. The Board observed that the M/s. Polymatech Electronics l.inrited proposes to invest up to Rs. 13o Cr for setting up of an SEZ for Electronics and Engineering (Semiconductor and Electronics manufacture) in an area of ro.r3 Hectares at Nava Raipur, Atal Nagar, --a' Page 9 of 39 DC, MEPZ informed thatM/s. J. Matadee Manufacturing Park Private Limited has sought in -principle approval for setting up of Multi Sector SEZ at Pallur Village, Arakkonam Taluk, Ranipet District, Tamil Nadu and it has proposed to invest t775 cr and estimated export of {zooo cr (approx.) and employment generation of approx. 6000 persons over a period of 5 years. It was further informed that Developer owns and possesses 30.78 hectares (76.o6 acres) of land for which In-Principle Approval has been sought and rrther proposed to arrange an additional 43.15 hectares ofland.

her informed that Developer owns and possesses 30.78 hectares (76.o6 acres) of land for which In-Principle Approval has been sought and rrther proposed to arrange an additional 43.15 hectares ofland. It was further informed that the State Gort has recommended the proposal. The Board, after deliberations, granted "In-Principle" approval to the proposal of M/s. J. Matadee Manufacturing Park Private Limited to set up Multi Sector SEZ at Pallur Village, Arakkonam Taluk, Ranipet District, Tamil Nadu. r3g,S(iii) Proposal of M/s. Polymatech Electronics t,imited for setting up of a SEZ for Electronics and F)ngineering (Semiconductor and Electronics manufacture) in an area of 10.13 Hectares at Plot No.r7 /A, t7 /8,t6/lA Mandir Hasaud, Nava Raipur, Atal Nagar. Chhattisgarh.

chhattisgarh. The project is estimated to create up to 13oo new direct/Indirect jobs over theneytS)ears. DC, vsEZ informed the Board that the identified area is vacant. But a public thoroughfare is passing through the lands proposed for sEZ, for which Developer has provided undertaking to construct foot over bridge to establish contiguity and to cornply to all the conditions in terms of Instruction. No. z7 dated 18th August zoog and requested for waiver of contiguity condition. Further, it was also informed that state Go\t has given its recommendation to the proposal. The Board, after deliberations, granted Formal Approval to the proposal of M/s. Polymatech Electronics Limited for setting up of an SEZ for Manufacturing of Semiconductors and Electronic cornponents at Plot No.

after deliberations, granted Formal Approval to the proposal of M/s. Polymatech Electronics Limited for setting up of an SEZ for Manufacturing of Semiconductors and Electronic cornponents at Plot No. r7/A, tT lB,16llAMandir IJasaud, Nava Raipur, Atal Nagar, chhattisgarh over an area of ro.r3 Ha subject to the condition that one side of the SEZ will be utilised only for utilitl, purpose and the entire processing area will be on one side. Further, the Developer will adhere to Instruction No. z7 dated r8th August 2oo9. DC v,,as also directed to review the progress of construction of overbridge and it must also be ensured that no units would be given LoA until the completion of said overbridge and all condition stipulated under Doc's Instruction No. z7 dated 18.oB.2oog shall be fultrlled. Agenda Item No. 139.6: Request for Co-Developer status I z proposals - rtg.6(i)-rgq.6(ii) ] rSq.6(i) Request of M/s Murodiya Consultancy Services h/t. Ltd, as Co- Developer in MIITIAN-SEZ located at, Mihan, Nagpur - Reg. The Board, after deliberations, apprevcd the proposal of M/s Murodiya consultancy Services P,1.

rodiya Consultancy Services h/t. Ltd, as Co- Developer in MIITIAN-SEZ located at, Mihan, Nagpur - Reg. The Board, after deliberations, apprevcd the proposal of M/s Murodiya consultancy Services P,1. ltd, as Co-Developer in MIIHAN-SEZ located at, Mihan, Nagpur for construction of Buildings and demarcation of plot for sEZ units for multi-products and service industries with associated infrastructure as constructed bare warm shell and warm shell with Plug & Play facilities, demarcated plot, Internet & wi-fi facilities, common cafeteria, common Garden, Power and its back-up facilities and maintenance thereof, Roads networks, water, Electricity, security, Fire and water protection systems etc., over an area 9o52.639 sq.Mtr. (2.236 Acres) in accordance with the co-developer Agreement date d 16.oz.zoz6, entered into with the Developer (M/s. MIHAN sEZ) subject to standard terms and conditions as per the sEZ Act and Rr.rles. Further, the Assessing officer will have the right to examine the taxability of the income by wav of lease rentals/down pal'rnen t/premium, etc. for the purpose of assessment untler the prevalent Page 10 of 39 s.,l

essing officer will have the right to examine the taxability of the income by wav of lease rentals/down pal'rnen t/premium, etc. for the purpose of assessment untler the prevalent Page 10 of 39 s.,l

Income-tax Act, 1961 and Income-tax Rules, 196z as amended from time to time. The lease period shall be in accordance with DoC's Instruction No. 98 dated zgth August, 2019. rgq.6(ii) Request of M/s Quanta Systems Technologies LLP, as Co-Developer status in MIHAN SEZ, Mihan, Nagpur - Reg, fhe Board, after deliberations, aooroved the proposal of M/s Quanta Systems Technologies LLP, as Co-Developer status in MIIIAN SEZ, Mihan, Nagpur for Development of infrastructure facilities, utilities, security systems, storm drainage and sewage disposal, HVAC systems, landscaping, and water bodies for SEZ units, Construction of building and related infrastructure for SEZ units along with associated infrastructure support, Execution of authorised default operation as permitted under MOCI Instruction No. 5o dated r5.o3.zo21o, over an area 12,256.497 Sq. Mtr. (3.o28 Acres) in accordance with the Co-developer Agreement dated o4.o9.zoz5, entered into with the Developer (M/s. MIHAN SEZ, Nagpur) subject to standard terms and conditions as per the SEZ Act and Rules. subject to standard terms and conditions as per the SEZ Act and Rules. Further, the Assessing Officer will have the right to examine the taxability of the income by u'ay of lease rentals/down palment/premium, etc.

ndard terms and conditions as per the SEZ Act and Rules. Further, the Assessing Officer will have the right to examine the taxability of the income by u'ay of lease rentals/down palment/premium, etc. for the purpose of assessment r.rnder the prevalent Income-tax Act, 1961 and Income-tax Rules, 1962 as amended from time to time. The lease period shall be in accordance with DoC's Instruction No. 98 dated zgth August, zor9. Agenda Itern No. 13 9.7: Request for increase/decrease in area by Co-developer Ir proposal - 139.7(i)l 139.7(i) Request of M/s, Waystar Realty Private l,imited, an existing Co- Developer at GIFT-SEZ, Gandhinagar for approval of additional built-up area. The Board, after deliberations, approved the proposal of M/s. Waystar Realty P vate Limited, an existing Co-Developer at GIF-T-SEZ for developrnent, construction, maintenance, and operation of comrnercial building in tslock-r5 in the processing area over an additional basement extent of 742 sq. m and additional appurtenant land below grade level of r,6ro sq. m and further additional development rights of 3,912 sq. m, in ar:cordance with the Supplemental Agreement-3 to crr-developer agreement dated 13.03.2026 entered into with the Developer subject to standard terms and conditions as per the SEZ Act and Rules. Further. the Assessing Offlcrr will have the right to examine the taxability of the income by way of lease rentals/down paynent/premium etc. for the purpose of assessment under the prevalent Income-tax Act, 196r and Incorne-tax Rules, PaBe 11 of 39

to examine the taxability of the income by way of lease rentals/down paynent/premium etc. for the purpose of assessment under the prevalent Income-tax Act, 196r and Incorne-tax Rules, PaBe 11 of 39

1962 as amended from time to time. The lease period shall be in accordance with Doc's Instruction No. 98 dated 29th August. 2c)19. Agenda Item No. 139.8: Request for conversion of Processing Area into Non-processing Area under Rule rr(B) [ z proposal - r39.8(i)- 139.8(ii)] 139.8(i) Request of M/s Gateway OfFrce Parks ltt. Ltd., Developer, for demarcation ofSEZ Processing Built-up area, Ground Floor Lobby, Refuge Area and Basement/car parking area gj,B4&.g3 sq mtrs as Non-processing Area in terms of Rule rr B of SEZ (Itifth Amcndment) Rules, zoz3. DC, MEPZ submitted that out of the total built-up area (BUA) of z,g6,Z7Z.g6 sqmts, an area of 97,848.93 sq. mtrs has been proposed to be demarcated under Rule rtB. The DC further submitted that requisite documents have been submitted by the Developer.

ea (BUA) of z,g6,Z7Z.g6 sqmts, an area of 97,848.93 sq. mtrs has been proposed to be demarcated under Rule rtB. The DC further submitted that requisite documents have been submitted by the Developer. It was also confirned by DC that total duty benefits and tax exemption availed on the BUA proposed to be demarcated as NPA have been paid back and No Dues Certificate have been issued by the Specified Officer. The Board, after deliberations, permitted the demarcation of the following area as Non Processing Area in terms of Rule rrB of SEZ Rules, zoo6: - Block & Floors details for Demarcation (sq. Net BUA Mtrs) Block B6 area (5th Floor) 2,6s9.96 Block ,A3 area (3rd to gth Floor) 24,893.39 rr,rBo.43 Block Az area (GF to rrth Floor - Full Floor, Refuge Area and Ground Floor Lobby) 39,449.27 Total Proposed NPA (86, A3, A6, Az) 78,r63.os 1,04O.50 Parking Area of Block A3 6,o47.oo Parking Area of Block A6 Page 12 of 39 q Block 4'6 area (GF, znd Floor, 4th Floor and Ground Floor Lobby) Parking Area of Block 86 2,836.S8

, Az) 78,r63.os 1,04O.50 Parking Area of Block A3 6,o47.oo Parking Area of Block A6 Page 12 of 39 q Block 4'6 area (GF, znd Floor, 4th Floor and Ground Floor Lobby) Parking Area of Block 86 2,836.S8

Parking Area of Block Ae 9,762.oo Total Parking Area (Basement) 19,,688.88 Grand Total 97,848.93 In addition to above, the Board stated that the responsibility to ensure that all the extant provisions relating to demarcation of processing area to non-processing area are implemented in letter and spirit, lies with the concerned DC. Further, the DC concerned shall also ensure that all the applicable duty benefits have been calculated in toto and the same has been fullv rcpaid. 139.8(ii) Proposal of M/s. Candor Kolkata One Hi-Tech Structures Private Limited, Co-Developer of the Gurgaon Infospace Limited IT/ITES SEZ at Village Dundahera, Sector- 2r, Gurugram (Haryana) for demarcation of built-up Processirrg Area admeasuri ng 22,454.06 Sqmt. into Non-Processing Area under Rule rrB of SEZ Rules, zoo6 read rvith lnstruction No. rr5 dated 09.o4,2o24 - Reg. DC, NSEZ submitted that requisite documents have been submitted by the Developer.

mt. into Non-Processing Area under Rule rrB of SEZ Rules, zoo6 read rvith lnstruction No. rr5 dated 09.o4,2o24 - Reg. DC, NSEZ submitted that requisite documents have been submitted by the Developer. It was also confirmed by DC that total duty benefits and tax exemption availed on the BUA proposed to be demarcated as NPA have been paid back and No Dues Certificate have been issued by the Specified Officer. DC, NSEZ added that the Developer has mentioned its intentir.rn to give Non Processing area on lease to Domestic Units who do not r,r,ish to set up as SEZ Unit. The Board, after deliberations, perEritted the demarcation of the following area as Non Processing Area in terms ofRule rrB ofSEZ Rules, zoo6: - 'I'ower No. Floor Total truilt-up area (in Sqmt.) Tower-orB Glound First Secor.rd 2065.66 Third 206S.66 2065.66 Fourth Page 13 of 39 2208.54 1g65.oo

Fifth 2o65.66 Sixth 206i.66 :o65.66 Ninth 2065.66 Eleventh 2065.66 Tower-o5 Ground 867.62 Irirst 867.62 Total: 22434.o6 Basement / Parking for Tower rB & Tower 5:- Basement Area in Sqmt. 1st Basemeni 867o.ro 2n,l Basement i']44o.81 In addition to above, the Board stated that the responsibility to ensure that all the extant provisions relating to demarcation of processing area to non-processing area are implementod in letter and spirit, lies with the concerned DC. Further, the DC concerned shall also ensure that all the applicable duty benelits have been calculated in toto and the same has been fully repaid. Miscellaneous I z proposal - rSq,g(i)-rS9.9(ii)] 189.9(i) Proposal of M/s. Syntel International h/t.

all the applicable duty benelits have been calculated in toto and the same has been fully repaid. Miscellaneous I z proposal - rSq,g(i)-rS9.9(ii)] 189.9(i) Proposal of M/s. Syntel International h/t. Ltd., Co-Developer request for approval for partial sumender of vacant land to the Developer (ELCOT Ltd.,) at Gangaikondan, Tirunelveli-reg. DC. MEPZ informed the Roard that M/s. syntel rnternational pr.t. Ltd, co-Developer in SEZ developed by M/s. ELCor Limited at Gangaikondan, Tirunelveli, Tamil Nadu Page 14 of 39 I Eighth [- Total: t7r1o.9t -J

has requested for partiai surrender of 3r.97 Ha [78 Acres] of its vacant land area out of 40.47 Hectares (roo.oo Acres) to the Developer for allocation of it to the other allottees. The Co-Developer has submitted the no-objection from the Developer and no-dues from the Specified Officer for the said proposal. Accordingly, the Board, after deliberations, approved the proposal of M/s. Syntel International Pvt. Ltd., Co-Developer request for partial surrender ofarea of 3r.57 Ha [78 Acresl of its vacant land area in the SEZ to the M/s. ELCOT Limited, Developer of IT/ITES SEZ, Gangaikondan, Tirunelveli, Tamil Nadu. r39.9(ii) Representation of M/s C Tech Corporation. a unit in Surat SEZ against the cancellation of LoA of M/s. C Tech Corporation after lapse of extension of validity granted by BoA after hearing appeal of the unit against the Order-in-Original dated rr.o6.zoz4 passed by DC, Surat SEZ. DC Surat SEZ, apprised the matter to the Board and made follorving submission: i. M7s. C Tech Corporation, Surat SEZ.

the unit against the Order-in-Original dated rr.o6.zoz4 passed by DC, Surat SEZ. DC Surat SEZ, apprised the matter to the Board and made follorving submission: i. M7s. C Tech Corporation, Surat SEZ. remained non-functional since April zor7, failed to submit APRs regularly, achieved zero NFE during zotg-24, and undertook no manufacturing/export activities. ii. Approval Committee (to4th UAC meeting dated 3o.o4.2024) decided to cancel the LOA under Section t6(r) of the SEZ Act, 2oo5 due to continue<i non-performance and non-compliance with SEZ Rules. iii. BoA. in its rz4th meeting dated og.n.zoz4, g,ranted a final extension of LOA up to 04.o5.2o25 for revival of operations and directed DC, Surat SEZ to review progress thereafter. lv. DC, Surat SEZ, upon review, reported that the unit failed to achieve any committed milestones, carried out only one export from old stock, and undertook no manufacturing, procurement, or ernployment generation; accordingly, non- renerval of LOA rvas recommended. Br-rA, in its 133rd meeting dated r5.ro:zoz5, ct-rncurred with the DC's recommendation and directed action under Section 16(3) of the SEZ Act, 2oo5. The unit submitted a representation before BoA alleging inadeqLrate hearing opportunity and wrongful assessment by DC, and has requested reconsideration of cancellation of LOA. The Board il its r39th mecting held on rtth may 2026, heard the representative of M/s C Tech Corporation r,'irtually and brief submission rnade by him are as follows: \1 Page 1.5 of 39

ation of LOA. The Board il its r39th mecting held on rtth may 2026, heard the representative of M/s C Tech Corporation r,'irtually and brief submission rnade by him are as follows: \1 Page 1.5 of 39

lt. The unit has been operating as a IVISME in Surat SEZ for o\€r 20 years and has regnlarly contributed to exports. In ,Ianuary 2C24, it applied for renewal of its LOA; hcwever, instead of renewal, a show cause notice was issued. The Board of Approval (Bo.d) granted extension of LOA up to o4.o5.zoz5 for revival ofexports. During this period, the unit carried out one export shipment and submitted further confirmed expcrt orders. The DC did not process the renewal, obstmcted export activities, and recommended cancellation of LoA. It was also stated that no proper opportunity of hearing was provided during the r3znd and t33'd BoA proceedings. It has raised objections that the DC's actio, is contrary to BoA directions, sEZ Rules were wrongly applied, and penalties imposed are arbitrarl,. It has also alleged bias in assessment and stated that the unit was urongly termed as non- serious. lv. v. The representative highlighted that serioBsness may be gauged from the fact the unit is involved in production ofhigh quality special chemical and for which it has obtained a specific kind of ELr regulatory clearance. vi. The unit has furtler submitted that cancellation of I-oA may lead to closure, financial loss, and adverse impact on exports, employ,rnent, and MSME sector. vii.

kind of ELr regulatory clearance. vi. The unit has furtler submitted that cancellation of I-oA may lead to closure, financial loss, and adverse impact on exports, employ,rnent, and MSME sector. vii. 'Ihe unit has lequested the BoA to review the actions of the DC, reconsider cancellation of LoA, and issue appropriate directions for facilitation of exports as per SEZ Act and Rules. After hearing the above submission, the Board, enquired about the unit's status in Surat sEZ r'vhether there is shortage ofspace in the SEZ. The Board directed the DC to provide details of all sEZ units, acquircd space of unit, vacant space in the sEZ etc. In respect of the M/s C Tech, the Board directed the DC to furnish operational details of activities of the unit, whether it has a unit in DTA outside sEZ, il so, the details of operations of DTA unit. The details should be exhaustive so as to enable the Board to take a holistic view in the matter. Accordingly, the Board, after deliberation, deferred the proposal and decided to take decision after getting the detailed status ofthe unit at Surat SEZ. Agenda Item No.1g9.ro: Appeal [r case: rSq.ro(i)] Page 16 of 39 I

d, after deliberation, deferred the proposal and decided to take decision after getting the detailed status ofthe unit at Surat SEZ. Agenda Item No.1g9.ro: Appeal [r case: rSq.ro(i)] Page 16 of 39 I

rgg.lo(i) Appeal filed by M/s. Aditya Exports against Order-in-Original No. KASEZ/o7/2o25-26 dated October 28, 2o2S passed by the Development Commissioner, KASEZ. The appeal was filed under section 16 of the SEZ Act, zoo5 and Rule 55 of SEZ Rules, 2006, by M/s Aditya Exports, a unit at KASEZ. The unit had been granted letter of approval dated o3.o3.zoo3, as amended from time to time for undertaking operations of manufacturing, trading and warehousing service activity. The LoA was cancelled based on the investigation by the DRI, Ludhiana, wherein, it was found that M/s Aditya Exports allegedly misdeclared irnported black pepper as Afghan origin to wrongly avail customs duty exemption and irnported the goods at Rs. z9o per kg against the permitted CIF value of Rs. 5oo per kg, in violation ofthe LOA conditions and the provisions of the SEZ Act, 2tl05. Accordingly, a Show Cause Notice dated zz.o5.zoz3 was issued proposing cancellation of the LOA and imposition of penalties on the unit, its partners, and Shri Pankaj Thakker, CHA. Being aggrieved with the said order-in-original, the unit holder has preferred the appeal under section 16 of the Act, read with Rule 55 of the rules. 0 Page 17 of 39 The appeal was filed against the KASEZ's Order-in-Original No.

order-in-original, the unit holder has preferred the appeal under section 16 of the Act, read with Rule 55 of the rules. 0 Page 17 of 39 The appeal was filed against the KASEZ's Order-in-Original No. I(ASEZ/ 07 /2025-26 dated zSth October, 2025 cancelling the letter of approval dated 3rd March zoo3. Submissions bv the Aprrellant The Board in its r39th meeting held on l1th may 2026, heard the appellant virtually and brief submission made by the appellant are as follows: i. The relied-upon DRI documents were not supplied to the appellant, violating principles of natural justice. ii. The impugned order is not sustainable in lavv as most of the findings are mere reproduction of the allegations made in the Show Cause Notice without any independent discussion, examination of evidence, or proper reasoning by the Adjudicating Authority. iii. The finding that Shri Pankaj Thakkar was the "mastermind" is unsupported by admissible evidence. His role was limited to day-to-day. operational assistance in his capacity as a Customs Broker, and such entrustmerrt of responsibilities is a normal practice in SEZ/F-fWZ units and does not by itself establish any cor.rspiracy or offence. iv. The allegations regarding misdeclaration of specifications, valuation, and country of origin arc unsupported by evidence against the appellant. The appellant had

ish any cor.rspiracy or offence. iv. The allegations regarding misdeclaration of specifications, valuation, and country of origin arc unsupported by evidence against the appellant. The appellant had

submitted documents received frorn overseas suppliers, and there is no allegation that any document was fabricated or tampered with by the appellant. Further, the import documents and Certificates of Origin were verified and acceptecl by the Customs authorities at the timc of assessment. v. The issue regarding shipping agents is based on a misunderstanding of standard trade practices. ri. The LoA co'dition regalding minimum import price is not applicable to sEZ units. vii. The conclusion that the appellant conspired to evade customs duty and defraud the exchequer is baseless and rrot supported by any direct evidence attributable to the appella nt. viii. In vierv ol' the above submission, appeliant prayed to set aside the impugned order as being contrary to law, riolative of principles of natural justice. ubmi SI DC KA The DC, KASEZ made the following arguments against the contention of thc appellant: ll 1t1 lv DC, KASEZ inforrned that the impugned Order-in-Original dated zB.to.zoz5 was passed after detailed examination of facts, evidence, and statements recorded during investigation.

c appellant: ll 1t1 lv DC, KASEZ inforrned that the impugned Order-in-Original dated zB.to.zoz5 was passed after detailed examination of facts, evidence, and statements recorded during investigation. It is contended that the order contains proper reasoning and therefore the allegation of non-application of rnind is incorrect. It has been submitted that there was no violation of principles of natural justice, as the findings of DRI investigation were incorporated in the Show cause Notice dated zz.o5.zoz3 and the appellant was given full opportunity to reply and contest the allegations during adjudication. The statements recorded under section ro8 of the customs Act were relied upon to contend that the partners of M/s. Aditya Exports were not actively managing the business and that shri Pankaj Thakkar was effectively controlling the operations and customs-related activities of the unit. The appellant, being an SEZ warehousing unit, was responsible under the SEZAct and Rules (Rule z7 and 75) to ensure correct declaration of origin, valuation, and nature of imported goods. The forged documents were used to wrongly claim Afghanistan origin and avail SAF"TA benefits. The statements of shipping agents, vessel operators, and findings of Customs authorities were relied upon to allege that the Bills of Lading, certificates of origin, and related import documents were fake and were used to facilitate wrongful clearance of goods into DTA. q5 Page 18 of 39

were relied upon to allege that the Bills of Lading, certificates of origin, and related import documents were fake and were used to facilitate wrongful clearance of goods into DTA. q5 Page 18 of 39

vi. It has also been submitted that the appellant violated the conditions ofthe Letter ofApproval dated og.rr.zozo by importing black pepper below the prescribed CIF value, allegedly through misuse of forged origin documents to avail customs duty exemptions. vii. On the basis of the above submissions, DC, KASEZ has requested for dismissal of the appeal, contending that the appellant violated the provisions of the SEZ Act, SEZ Rules, and FTDR Act through fraudulent imports and misuse of exemption benefits. The Board, after deliberation, observed that: i. The matter involves serious allegations of: (a) ftaudulent availing of SAFTA benefits, (b) forged shipping/origin documents, (c) import of prohibited/restricted goods below MIP threshold, (d) and misuse of SEZ warehousing mechanism for customs duty evasion. ii.

iling of SAFTA benefits, (b) forged shipping/origin documents, (c) import of prohibited/restricted goods below MIP threshold, (d) and misuse of SEZ warehousing mechanism for customs duty evasion. ii. I(ASEZ defended the cancellation primarily on grounds of: (a) violation of LoA conditions, (b) contravention of SEZ Rules, (c) fraudulentconduct, (d) and documentary evidence coilected by DRI and Customs authorities. Further, the Board also observed that: ll llt Responsibililv for declarations and imported goods rests upon the SEZ unit. KASEZ has cancelled the LoA on the basis of the evid ence /statements recorded during DRI investigation. DRI tindings have been con.rmunicated through the SCN, and the appellant responded to them, thus giving an opportunity to the Unit. iv. The Board, however, felt that in all such cases where the DCs are relying on the enquiriesT'SCNs ofthird party agencies, to ensure irrdependent apphcation of mind and requirement of examining the issue from SEZ law angle too, the DCs should also conduct their r.rwn uubiased examination of the allegations ou the basis of merits of the case and all corroborative evidence/docurnents on record, rather than completely relying on other agencies' investigation, to ellsure principle of.natural justice and due diligence. Accordingly, on the basis of the above discussion, the Board remanded the matter back to the UAC, KASEZ for re-examination of the case in the light of all far:ts and evidence on record. I Page 19 of 39

ordingly, on the basis of the above discussion, the Board remanded the matter back to the UAC, KASEZ for re-examination of the case in the light of all far:ts and evidence on record. I Page 19 of 39

Sunolemcn tarv Asenda Agcnda Item No. 139.It: Request for exterrsion of LoA ofSEZ Unit [ 3 proposal - 13 9. r r(i)-r39.11(iii)] 1S9.11(i) Request of M/s Biocon Biosphere Limited, a unit in Biocon Limited special Economic Zone, Bangalore for extension of validity of Letter of Approval for a further period of one year from 12.06.2026 to tr.o6.zoz7. DC, csEZ, informed the Board that thc Letter ofApproval (LoA) was issued to the unit on t2.o6.2o2o and is valid up to 1r.06.2026, and the unit has applied for extension of the LoA prior to its expiry. DC further informed that an amount of i474 crore has been invested so far against the revised proposed investrnent of {7oo crore in the development ofunit. The Celay in commencenlent ofoperations has been attributed to technical issues during the qualification stage, which required oEM-led moclifications, rework, and confirmatory trials, thereby deferring the overall qualification timeline. Accordingly, the Board being satisfied that it is necessary and expedient in pursuance to third proviso to Rule r9(4) of SEZ Rules, 2006, granted extension ofvalidity of LoA for a further period of one year, i.e., upto rr.o6.zoz7. DC SEEPZ-SEZ informed the Board that LoA of unit rvas valid till 21.c,4.2c.26 and it has not yet started operations.

tension ofvalidity of LoA for a further period of one year, i.e., upto rr.o6.zoz7. DC SEEPZ-SEZ informed the Board that LoA of unit rvas valid till 21.c,4.2c.26 and it has not yet started operations. however, the unit has accelerated various project implementation activities and invested {g2.22 lacs since last extcnsion and requested for further extension of LoA. The Developer, Jawaharlal Nehru port Authority (JNpA), has issucd No Objection Certificates (NOCs) to thc proposal. In this regard, the Board observed that the latest extension of validity ofLoA was granted in t37th BoA held on z7.oz.zoz6 up to 21.04.2026, wherein Board directed DC, SEEpZ to ensure tangible development/ progress during the period of extension, for any further consideration of extension of LoA by BoA. Now, Unit has shown intension for commencement of operation in extended period of LoA. Accordingly, the Board being satisfied that it is necessary and expedient in pursuance to third proviso to Rule r9(4) of sEZ Rules, eoo6, eranted extension of validiw of LoA fbr a further period of one year, i.e., uplo 27.c,4.2c.27. rSg.rr(ii) Request of M /s. ASA Agrotech private Limited located at JNpA_ SEZ for extension of LOA beyond 2t,o4.z.or,6 for crh Extension upto 21.o4.2O27.
Page 20 of 39

ar, i.e., uplo 27.c,4.2c.27. rSg.rr(ii) Request of M /s. ASA Agrotech private Limited located at JNpA_ SEZ for extension of LOA beyond 2t,o4.z.or,6 for crh Extension upto 21.o4.2O27.
Page 20 of 39

r3g.rr(iii) Request of M/s Cipla Ltd. in Indore SEZ for extension of Letter of Approval (LoA) beyond t4.o9,2oz6 for a further period of one year up to 14.o3.2027. DC, Indore-SEZ informed the Board that the unit was issued LoA on r5.o3.zoz3 and it was vaiid till r4.o3.zoz6, further, the Unit has applied for extension of LoA prior to its expiry on r3.or.zoz6. DC, further specifies that the requisite two-third of activities as per the provisions of Rule r9(4) of SEZ Rules, 2006 are not cornpleted, hence, BoA requires to approve the extension. DC further informed that Unit has invested Rs. 465.6r Cr so far against the proposed investment of 78z.tg cr, and it expected to commence production tentatively by the last quarter of 2027. The delay in commencement of operations was due to additional time required for statutory and administrative processes, including approvals, plot merger, lease amendments, and vendor finalisation. The use of custorn-built equipment with long lead times (35-39 months) contributed to delal,s. Accordingiy, the Board being satisfied that it is necessary and expedient in pursuance to third proviso to Rule r9(4) of SEZ Rules, 2006, granted extension of validity of LoA for a further period ofone year, i.e., upto 11.c5.2022. Agenda Item No. tgg,t?.i Request for Co-Developer status [1 proposal -rgg.tz(i)] rSg.rz(i) Request of M/s. Phoenix Urban Developers Pvt.

of LoA for a further period ofone year, i.e., upto 11.c5.2022. Agenda Item No. tgg,t?.i Request for Co-Developer status [1 proposal -rgg.tz(i)] rSg.rz(i) Request of M/s. Phoenix Urban Developers Pvt. Ltd, for Co- developer status in M/s. Phoenix Infocity h/t. Ltd for IT/ITES SEZ Gachibowli Village, Serilingampally Hyderabad, Telangana - reg The Board, aftei deliberations, approved the proposal of M/s. Phoenix IJrban Developers P't. Ltd, for Co-developer status in M/s. Phoenix Infbcity h/t. Ltd, an IT/ITES SEZ at Gachibowli Village, Serilingarnpally Hyderabad, Telangana for Development and maintenance of proposed IT Building within permissible FSI in the vacant land leased out by the Developer and operate and maintain the same, in accordance with the Co- develuper Agreement dated t9.ot.zoz6. entered into with the Devcloper (NI/s. Phoenix Infocity P\t. Ltd) subject to standard terms and conditions as per the SEZ Act and Rules. Further, the Assessing Officer will have the right to examine the taxability of the income by way of lease rentals/down payment/premium, etc. for the putpose of assessment under the prevalent lnconte-lax .Act. lg6 t and Inconte'lax Rules, t96z as amended lrom time to time. The lease period shall be in accordance with DcC's lnstruction No. 98 dated 29rh August. 2o19. t"tL'' Page 21 of 39

lnconte-lax .Act. lg6 t and Inconte'lax Rules, t96z as amended lrom time to time. The lease period shall be in accordance with DcC's lnstruction No. 98 dated 29rh August. 2o19. t"tL'' Page 21 of 39

Agenda Item No. 139.18: Request for conversion of Processing Area into Non-processing Area under Rule rr(B) [ 3 proposal - tSg.iS(iii)] rgq.rS(i) Request of M/s DLF Info City Chennai Limited, SEZ Developer, for demarcation of Processing Built-up area (g,46o.47 Sq. mtr.) as Non_ Processing Area in tenns of Rule rr B ofSEZ Rules. DC, MEPZ submitted that requisite documents have been submitted by the Developer. It was also confirmed by DC that total duty benefits ancl tax exemption availed on the BUA proposed to be demarcated as NpA have been paid back and No Dues certificate have been issued by the Specified Officer. The Board, after deliberations, pcgnitted the dernarcation of the follor.r,ing area as Non_ Processing Area in terms of Rule trB of SEZ Rules. zoo6: _ Block/Tower Floor No. Built Up Area (sq. mtrs.) 3519.53 In addition to above, the Board stated that the responsibility to ensure that all the extant provisions relating to demarcation of processing area to non-processing area are implemented in letter and spirit, ries with the concerned DC. Further, the DCconcerned shall also ensure that all the applicable duty benefits have been calculated in toto and the same has been fully repaid. DC, MEPZ submitted that requisite documents have been submitted by the Developer.

ll also ensure that all the applicable duty benefits have been calculated in toto and the same has been fully repaid. DC, MEPZ submitted that requisite documents have been submitted by the Developer. It was also confirmed by DC that total duty benefits and tax exemption availed on the BUA 191(J.94 Block 5 TOTAL Block gB Grountl Floor 3'd Floor 8,46o.47 Page 22 of 39 l 139.4(ii) Request of M/s. ESNp property Builders and Developers private Limited, co-Developer of rr ITES sEZ developed by M/s. sNp Inirastructure LLP at Zannin Pallavaram village, Chengalpattu, Kancheepuram Dist, Tamil Nadu for demarcation of a portion of SEZ processing Built_up area (5z,7gz sq. mtr.) as Non-Processing Area in terms of Rule rr B of sEZ Rures, amlnded in zoz3. v

proposed to be demarcated as NPA have been paid back and No Dues Certificate have been issued by the Specified Officer'. The Board, after deliberations, pe1lnitte-d the demarcation of the following area as Non Processing Area in terms of Rule rtB of SEZ Rules, zoo6: - Total 52,792 DC, NSEZ submitted that r:equisite documents have been submitted by the Deveioper It was alsc, confirmed by DC Lhat totalduty bencfits and tax exempl.ion evaik'd on the BU.{ Building / Block wise Floor No. Area in Sq.

that r:equisite documents have been submitted by the Deveioper It was alsc, confirmed by DC Lhat totalduty bencfits and tax exempl.ion evaik'd on the BU.{ Building / Block wise Floor No. Area in Sq. Mtr 4,4sl 5,422 5,422 5,422 5,422 5,422 7th Floor 9th Floor 5,422 5,422 Block r Bth Floor Ground Floor rst Floor znd Floor 3rd Floor 4th Floor 5th Floor Page,23 of 39 I 6th Floor I In addition to above, the Board stated that the responsibility to ensure that all the extant provisions relating to demarcation of processing area to non-processing area are implemented in letter and spirit, lies'r,r'ith the concerned DC. Further', the DC concerned shali also ensure that all the applicable duty benefits have been calculated in toto and the same has been fully repaid. r3g.r3(iii) Request of M/s. Candor Kolkata One Hi-Tech Structures Private Limited, Co-Developer of the Gurgaon Infospace Limited IT/ITES SEZ at Village Dundahera, Sector- 21' Gurugram (Haryana) for demarcation of built-up Processing Area admeasuring 11582.42 Sqmt. and Basement / Parking area of to5or.S5 Sqmt. into Non-Processing Area under Rule lrB of SEZ Rules, zoo6 read with Instruction No. u5 dated o9.o4.zoz4. 4,965 5,422 z.---

a admeasuring 11582.42 Sqmt. and Basement / Parking area of to5or.S5 Sqmt. into Non-Processing Area under Rule lrB of SEZ Rules, zoo6 read with Instruction No. u5 dated o9.o4.zoz4. 4,965 5,422 z.---

proposed to be demarcated as NPA have been paid back and No Dues certificate have been issued by lhe Specilied Officcr. The Board, after deliberations, p-erruitted the demarcation of the following area as Non Processing Area in terms of Rule rtB of SEZ Rules, zoo6: - Tower No. Floor Total built-up area (in Sqmt.) OA Second 2,344.65 Basement / Parkins area for common age: Basement / Parking for Tower 6A & 68:- Area in Sqmt. In addition to above, the Board stated that the responsibility to ensure that all the extant provisions relating to demarcation of processing area to non-processing area are implemented in letter and spirit, lies with the concerned DC. Further, the DC concerned shall also ensure that all the applicable duty benefits have been calculated in toto and the same has been fully repaid. Agenda ltem No. a1g.14l. Miscellaneous [6 proposals - r39.r4(i) - gg.r+(vi)] Third 2'344.65 6A 6A Ninth 6B Seventh 2203.82 2344.65 6B Ninth Total: 11,582.42 Basement lst Basement 2nd Basement 7374.97 3t26.64 Total: 1o5o1.55 Page 24 of 39 2,344.65 \

s - r39.r4(i) - gg.r+(vi)] Third 2'344.65 6A 6A Ninth 6B Seventh 2203.82 2344.65 6B Ninth Total: 11,582.42 Basement lst Basement 2nd Basement 7374.97 3t26.64 Total: 1o5o1.55 Page 24 of 39 2,344.65 \

139.14(i) Proposal of M/s GGG Builders LLP, Co-Developer of SEZ M/s. Artha Infratech hrt. Ltd. IT/ITES Plot No. 21, Sector-Techzone fV, Greater Noida (Uttar Pradesh) for surrender ofpartial area allotted to Co-Developer

• Reg. DC, NSEZ informed the Board that M/s GGG Buiiders LLP was issued Letter of Approval for Co-Developer on 31.o3.2o2r for undertaking the authorized operations of conversion of bare shell buildings into warm shell buildings of two floors (sth & 6th floor) of Tower No.r of approx. super area 6482o Sqft. in the Processing area of SEZ and it has now proposed to surrender 3o7o7 Sqft. (entire 6th floor) of Tower No.t to the Developer viz. M/s. Artha Infratec}r Pvt. Ltd in connection with the business requirement. For this proposal, Developer has given its'No Objection'and the Specified Officer has certified that as per the available records, no dues towards Customs duty are pending against the Co-Developer. Accordingly, the Board, after deliberations, approved the proposal of M/s GGG Builders LLP., Co-Developer for partial surrender of area of 3o7o7 Sqft. (entire 6th floor) of Tower No.r of its vacant land space in the SEZ to the Developer (N{/s. Artha Infratech P!t. Ltd.) of an IT/ITES SEZ at Plot No. zr. Sector-Techzone IV, Greater Noida (Uttar Pradesh). 89.4(ii) Request of M/s Gujarat State Petronet Iimited, Co-Developer for inclusion of Plot No.

nfratech P!t. Ltd.) of an IT/ITES SEZ at Plot No. zr. Sector-Techzone IV, Greater Noida (Uttar Pradesh). 89.4(ii) Request of M/s Gujarat State Petronet Iimited, Co-Developer for inclusion of Plot No. Z/87, Dahej SEZ - reg. DC, Dahej SEZ, explained the proposal to the Board and informed that {7's Gujarat State Petronet Limited (GSPL) has sought approval for inclusion of Plot No. ZlST,Dahej SEZ for establishing GSPL's Sectionalizing Valve station for the safe operation in Dahej SEZ-I for Dahej - Bhadbhut Pipeline Project. It was further informed that the Agreement between the Developer and Co-developer was executed on z7.o7.zoo9. However, the agreement frrr the additional area at PIot No. Z-87, Dahej SEZ Part-t has not yet been erecuted. It rvas also informed the requisite agreement r,vill he executed upon receipt of the LoA for a.dditional area from and payrrent as per DSL policy. Accordingly, the Board, after deliberations, granted in-principle approval to the proposal of M/s Gujarat State Petronet l,imited, Co-Developet, for inclusion of Plot No. 2187, Dahej SEZ and directed the DC, DAhej SEZ that tlie requisite agreement be provided. After receipt of the agreement between Develcper an<i Co-developer, Department of Conlmerce, shall process the matter on fiie for final approval for inclusion of Plot No. ZiBZ,Dahei SEZ. Page 25 of 39 2L=-'

ceipt of the agreement between Develcper an<i Co-developer, Department of Conlmerce, shall process the matter on fiie for final approval for inclusion of Plot No. ZiBZ,Dahei SEZ. Page 25 of 39 2L=-'

13g.14(iii) Proposal of M/s Hanung Toys & Textiles Limited plot No. rog, 1o9, r1o, 111 & 12S, NSEZ for Revival / Renewal and modification of LOA pursuarrt to NCLT Order date<l zSlozlzoz4 DC, NSEZ informed the Board that M/s. Hanung Toys & Textiles Limited rvas granted LOA No. o8/oB/9o-NEPZ Dated 1o.05.199rj, as amended time-to-time, for manufactu.ing & export of "r) Toys of all kinds including Stuffed Toys, Bags, powder, Puffs. Textile Fabric Sleeper, Furnishings & Made Ups, Rugs and Sleeping Bags; z) Steel Frame Chair; 3) Trading Activitiesl 4) Apron, pot Holder and Woven Mit,,. Unit commenced the production on t5larlrygt. The LOAwas valid upto 3rf o3lzozt and as per the available record.s at NSEZ, the unit is not doing any export activities ,since zo16. Unit'nas allotted Plot No. ro8, r o9, rro, rrr & rz5, NSEZ. M/s. Flanung Toys & Textiles Ltd. was undergoing corporate Insolvency Resolution Process (cIRP-) under the Insolvency & Bankruptcy code, 2o16 (IBC). The Hon'ble NCLT, New Delhi Bench, vide its order dated z8.oz.zoz4, approved the Resolution plan submitted by M/s Cy{uture India pr,,t.

ess (cIRP-) under the Insolvency & Bankruptcy code, 2o16 (IBC). The Hon'ble NCLT, New Delhi Bench, vide its order dated z8.oz.zoz4, approved the Resolution plan submitted by M/s Cy{uture India pr,,t. Ltd. The unit had requested permission to remove legacy scrap and waste rnaterial lldng at the premises, including iron scrap, cioth remnants, stuffed toys and other unusable raw material, before commencement of lresh operations, with an undertaking to comply with SEZ rules and coordinate with NSEZ authorities. As per the Resolution plan up to March zoz5, against admitted dues of{37,o6,2261-,an amount of lrg,9zzl- was disbursed and *42'rt,g45l- was deposited towards cIRP dues and advance jease rent. subsequently, NSEZ accepted 14z,rt,g45l- as full and final settlement up to March zoz5 subject to withdrarval of IA, out of which tSS,Sr,g+S/- has been paid and tg,go,ooo/_ remains pending. The unit, earlier sick and under cBI investigation, has applied for renewal of LoA and modification of operations to include IT services, and has submitted a revival proposal for setting up an Al-enabled IT and data centre hub with proposed investment of about tz8oo lakh and employmcnt generation for around 5oo persons. The matter was placed in r34th meeting of BoA for SEZs held on zo. rr. zoz 5 & z6.tt.zoz5, the decision of BoA is as under: " The Board, took note of comments of DGEp and after due deliberations, defeted the proposal for the next meeting of BoA. The Board further directed the conceined.

5, the decision of BoA is as under: " The Board, took note of comments of DGEp and after due deliberations, defeted the proposal for the next meeting of BoA. The Board further directed the conceined. DC to examine the tenabtlity of the proposal since there is an ongoing cBI Inuesigatton and requirement of clearance from cBI. The Board also instructed that flow if payment made tn this transactton needs to be ascertained,' Page 26 of 39 q)

In response to the Board's query in the B4th meeting, the erstwhile RP, Shri Ashok Kumar Gupta, informed that the fuII amount of {78.t5 crore had been paid and distributed as per the pallout approued under the Resolution PIan, except ISS lakh pertaining to EPF clues, which could not be disbursed due to technical issues. In this regard, the Successful Resolution Applicant (SRA) has Jiled an application seeking directions and has prouided too% Bank Financial Guarantee for the amounL Superintendent of Police, CBI AC-III, New Delhi vjde his letter dated 02.03.2026 has informed NSEZ that the case registered ogoinst M/s Hanung Toys & Textiles Ltd and others in connection uith alleged bank fraud of {2o4o.63 crore is under inuesticlation. It utas clarified that the NCLT order dated z8.oz.zoz4 regarding reuiual of LOA and change in promoters/actiuities has no bearing on the ongoing inuestigation, and any crbninal liability, if established, Luill be subject to the outcome oJ inuestigatiort and legal proceedings.

OA and change in promoters/actiuities has no bearing on the ongoing inuestigation, and any crbninal liability, if established, Luill be subject to the outcome oJ inuestigatiort and legal proceedings. CBI also aduised that all records end documents be preserued and made auailable as required, and clarifted that change in management does not automatically extinguish criminal liability of persons i.nuolued. DC, NSEZ informed that the proposal has been examined as per the directions of the BOA. It was observed that payments under the approved Resolution Plan have largely been made by the SRA. Further, CBI has not raised an""- specific objertion to consideration of the proposal for revival/renewal and modification ol LOA, wh ile clarifying that investigation against the erstwhile management shali continue independently and relevant records are to be preserved for . investigation purposes. Further, DC recommended the proposal for revival/renewal and modification of LOA of the unit in consonance with the NCLT Order and observations of CBL DCI also specified that the provisions of the IBC override the SEZ Act and Rules, and accordingiy the NCLT- approved settlement amount may be considered. In this regard, DGEP observed follorving and requested the.Board to take account of it before taking any decision, i. CBI had intimated that investigation against the erstwhile management of M/s Hanung Toys & Textiles Limited would continue independently. ii.

ard to take account of it before taking any decision, i. CBI had intimated that investigation against the erstwhile management of M/s Hanung Toys & Textiles Limited would continue independently. ii. Some Directors of the erstwhile mana€ienlent are preserttly serving as Directors in the Successful Resolution Applicant, NI/s C5,{uture India Private timited, and therefore appear to be among the persond under CIJI investipiation. iii. F'urther, DGEP noted that under Rule t7 ofthe SEZ Rules. 2rlt-l6. applications for establishment of a unit are required to be filed in Forrn-F, wherein Column XII(ii) seeks disclosure regarding rvhether the applicant or its Directors/partners are q Page 27 cf 39

The Board observed that the proposal of M/s Hanung Toys & Textiles Ltd. for revival/renewal of I"OA' and amentiment in authorised operations rnay not be consiclered at this stage, on account of pendency of serious cBI investigation, substantial losses suffered by Public financial institutions and need for exercise of heightened scrutiny in view of the facts.

red at this stage, on account of pendency of serious cBI investigation, substantial losses suffered by Public financial institutions and need for exercise of heightened scrutiny in view of the facts. Accordingly, the Board rejected the proposal of M/s Hanung Toys & Textiles Limited for Revival / Renerval and modificatjon of LOA. The Board further directed the Department of commerce to examine revision of the format of the form for revival/rener,val of units by incorporating provisions relating to background verificationl, similar to those applicable tbr approval of new units. r39.r4(iv) Request of M/s Torrent power Limited, Co-Developer of Dahej sBZ for Rou perrnission for laying of rg" Dia Natural Gas pipeline within Dahej SEZ - reg. DC, Dahej SEZ, informed the Board that M/s Torrent power Limited, co-Developer of Dahej sEZ, intends to lay an r8" dia. dedicated Natural Gas pipeline which is pissing though Dahej sEZ area. The proposed gas pipeline wili be laid underground at a minimum depth of r.z m below ground level and will be lai<l by HDD/open cut method as per site condition or as per directives.

Dahej sEZ area. The proposed gas pipeline wili be laid underground at a minimum depth of r.z m below ground level and will be lai<l by HDD/open cut method as per site condition or as per directives. Furtl'rer, DC informed that co-developer has confirmed that their project adheres to all environmental regulatiori and necessary safety standards with adequate signage, barricading during the excavation period as prescribed by the relevant authorities. Accordingly, the Board, after deliberations, granted the permission to M/s Torrent Power Limited, co-Developer of Dahej sEZ for right-of-use (Rou) permission for laying of 18" Dia Natural Gas pipeline within Dahej sEZ subject to condition that there would be no hindrance in operation ofother SEZ entities and Co-developer will follows all standard terms and condition stipulated in SEZ Act/Rules. Page 28 of 39 being proceeded agairrst or debarred uncler various laws. However, for renew-al of LOA undei" Ruie r9(6)(a), applications are fi'led in Form F-r. wlrich does nol prescribe furriishing of such rnformation. In view of the above, afler detailed de)iberations, the Board observed that the r,'iews of DGEP that sonre Directors appear to be common in both the companies and that cBI ir-rvestigaticu against the erstw-hile management is ongoing, have substance. o'

e Board observed that the r,'iews of DGEP that sonre Directors appear to be common in both the companies and that cBI ir-rvestigaticu against the erstw-hile management is ongoing, have substance. o'

199.14(v) Request of M/s. M,P. Industrial Development Corporation (MPIDC) Ltd., Indore, Developer of Multi-product Indore SEZ for creation ofa temporary gate in SEZ Phase II DC, Indore SEZ informed the Br.rard that M/s. M.P. Industrial Development Corporation (MPIDC) Ltd., Indore, Developer of Multi-product Indore SEZ has requested for creation of a temporary gate in the boundary wall at the North side of SEZ Phase II at Pithampur for disposal of material excavated from cutfing of hilly area for levelling of land within the SEZ as well at its own land adjacent to the SEZ. The levelled land will be used for allotment to entrepreneurs for setting up of various industr.ies. The present gate which is being used is at the South side. In this regard, DC apprised that the proposal of the Developer was considered by the BoA in its r36th Meeting held on 3o.o1.2026, wherein the proposal for creation of a temporary gate in SEZ Phase II was deferred in view ofthe observations made by DGEP.

eveloper was considered by the BoA in its r36th Meeting held on 3o.o1.2026, wherein the proposal for creation of a temporary gate in SEZ Phase II was deferred in view ofthe observations made by DGEP. The BoA directed the Developer to re-submit the proposal along with clear recommendations regarding measures for safety and security, sal'eguards against misuse of the proposed gate by any unit, duration of CCTV recording to be maintained during the proposed 8- month period, measures to ensure that throughput of other units continues only through the main gate and not through the proposed temporary gate, and recommendations ofthe Customs authority. Now, DC informed that the Developer has assured that adequate safeguards shall be undertaken for safety and security of the Zone and compliance r.tith all prescribed conditions. These include deployment of dedicated supervisory and technical staff such as Executive Engineer, Assistant Engineer, and Junior Engineer to prevent unauthorized use of the temporary gate and to ensure that only excavated material is transported through the gate; deploynent of additional security personnel on a z4x7 three-shift basis; provision of CCT,' access to the Specified Officer with recordings maintained for a period of 9o days; strict access control through rnandatory entry and exit logging in a dedicated gate register; installation of barricading and temporary fencing to segregate nearby operational units from the construction and levelling area; restrictiorr of gate usage only to authorized vehicles engaged in levelling work;

of barricading and temporary fencing to segregate nearby operational units from the construction and levelling area; restrictiorr of gate usage only to authorized vehicles engaged in levelling work; and regular day and night security patrolling. The Developer vide letter dated oz.o4.zoz6 has agreed to abide by additional conditiorrs includirrg barlicading and ternporary fencing ofthe area in order to segregate the SEZ units from cutting and levelling area, retention of CC'IY recordings for a period of 9o days along with deployment of a dedicated superwisor for the proposed activity. The Developer has assured that the SEZ units wiil continue to use the present permanent gate for their transactions and will not be allowed to use the temporary gate at any condition. q Page 29 of 39

According, the Board being satisfied with the proposed clarification of Developer and promised safeguard measures approved the proposal of the Developer for creation of a temporary gate in the boundarywall for a period of 8 monits subject to the condition that that developer rvill abide by additional conditions including barricading and temporary fencing of the area in order to segregate the SEZ units from cutting and levelling area, retention of CCTV recordings for a period of go days along with deployment of a dedicated supervisor for the proposed activity. Further, DC was a. lso directed for proper monitoring ofthe Temporary Gate and ensure that all conditions are adhered to. 49.4(vi) Proposal of M/s.

f a dedicated supervisor for the proposed activity. Further, DC was a. lso directed for proper monitoring ofthe Temporary Gate and ensure that all conditions are adhered to. 49.4(vi) Proposal of M/s. HCL Technologies Limited, Developer for approval of'Restricted'item to carry on authorized operations in the IT/ITES SEZ at Plot No. BA, BB & zC, Sector-r26, Noida (Uttar pradesh) DC, NSEZ, has apprised the Board that M/s. HCL Technologies Limited, has requested for duty free procuremenl ofvarious types of.Restricted, 'Refrigerant Gases,from DTA to carry on authorized operation in the IT/ITES sEZ of filing tle heating, ventilation and air conditioning etc. Accordingly, the Board, after deliberations, approved the proposal of M/s. HCL Technologies Limited, Developer for approval of duty free procurement of fbllowing lvpes of 'Restricted' item to carry on authorized operations in the IT/ITES sEZ at plot No. 3A, 38 & 2C, Sector-r26, Noida (Uttar Pradesh): s. No. S Authorized Operation / item description Sl. No. at default list of Autho. Opr. as per Inst. No. 5o Estimated Cost (Rs. in lakhs) Page 30 of 39

A, 38 & 2C, Sector-r26, Noida (Uttar Pradesh): s. No. S Authorized Operation / item description Sl. No. at default list of Autho. Opr. as per Inst. No. 5o Estimated Cost (Rs. in lakhs) Page 30 of 39

Air Conditioning of processing area. i. RSz Refrigerant Gases (HSN 2go}42oo)- 6oo Kgs. ii. R+oa Refrigerant Gases (HSN 38z76roo)- 6oo Kgs. iii. Rzz Refrigerant Gases (HSN zgo3Ttoo)- 6oo Kgs. iv. R41o/R41oA Refrigerant Gases (HSN 38276300)- 1o3oo Kgs. v. R4o7C Refrigerant Gases (HSN 382764oo)- roooo Kgs. vi. R134A Refrigerant Gases (HSN z9o345oo)- z5oo Kgs. 21 222.58 Request for full/partial de-notification/ increase area of SEZ lz proposals rss.rs(i) - l.sq.rs(ii)I rgg.rS(i) Request of M/s. Phoenix Tech Zone Private Limited, Developer for FuIl de-notification of 2,6t4 Ha. of IT/ITES SEZ at Surwey No. 118/P, t2olP, t2tlP, rzzfP & r38 (P) situated at Nanakramguda Village, Serilingampally Mandal, Ranga Reddy District, Telangana DC, VSEZ informed the Board that the M/s. Phoenix Tech Zone Private Limited has requested for full de-notification of the entire SEZ due to reduced demand for IT/ITES SEZ space arising from expiry of income tax benefits, extended Work from Home provisions, and recessionary trends impacting global IT spending, resulting in no client occupancy despite near-complete construction. Further, the DC confirms that there are no units in the SEZ and the developer had refunded availed tax/duty benefits under the SEZ Act/Rules i.e. an amount of Rs. tzj,g6,gr,gzg I .

lete construction. Further, the DC confirms that there are no units in the SEZ and the developer had refunded availed tax/duty benefits under the SEZ Act/Rules i.e. an amount of Rs. tzj,g6,gr,gzg I . It was also informed that State Government has issued its No Objection Certificate for the said proposal. Further, it has also been informed that both the existing co-developers have provided its no-objection for the said proposal. The Board, being satisfied, in pursuance to first proviso to Rule B of SEZ Rules, zoo6 approved the full de-notification ol 2.6t4 I1a of i\I/s. Phoenix ll'ech Zone Private Agenda Item No. 189,153 Page 31 of 39

Lirnited, an IT/ITES sEZ at survey No. 118/p, rzolp, rzrlp, t22lp & r3B (p) situateci at Nanakramg,da \ri age, se.ilingampally Mandal, .Ranga Reddy District, Telangana. gg.$(ii) Proposal of M/s. Lanco Hills Technology park private Limited, Developer of rr/ITES sEZ at Manikonda vinage, Rajendra Nagar Mandar, Ranga Reddy District, Telangana and bifurcation of for sub-division of existing sEZ into z sEZs and subsequent partial de-notification of sEZ of 8.98 Ha out of rz.4g Ha DC, vsEZ informed the Board that M/s.

eddy District, Telangana and bifurcation of for sub-division of existing sEZ into z sEZs and subsequent partial de-notification of sEZ of 8.98 Ha out of rz.4g Ha DC, vsEZ informed the Board that M/s. Lanco Hills Technology park private I_imited, Developer of IT/ITES sEZ has proposed the partial denotification of SEZ are of g.9g Ha out of 12.43 Ha and bifurcation of SEZ due to shift in market demand, flexibilitv in land use' Further, DC apprised that there a.e no units in the SEZ and the devcloper had refun<ied availed tax/duty benefits under the sEZ Act/Rules and the state Government issued No Objection Certificate for the said proposal. In this regard, DC apprised that the notified sEZ has two poftions of land and builclings constructed thereon, which are located on both sides of road and in order to establish contiguity from SEZ point of view, a skybridge was constructecr connecting both sides of the road i.e., Building IT-o6 and remaining bu dings i.e., pEB-or, pEB-o3 and pz. The IT-o6 Building is separated by a public road, disrupting contiguity. Though a connecting bridge was constructed to establish contiguity, however after denotification ofvacant land such connecting bridge will be landing into de-notified portion of land.

ing contiguity. Though a connecting bridge was constructed to establish contiguity, however after denotification ofvacant land such connecting bridge will be landing into de-notified portion of land. Theretbre, creating an independent sEZ is a more viable, cost-effective, and compliant alternative. vsEZ conducted a physicar inspection on 22.72.2o2s for sub-division o{ sEZ into t.wo Parts, (Lanco Hills sEZ-A with rand area o.66 Ha and Bu t up area 57o16.4r sq.Mtrs and Lanco Hills SEZ-B with land area n.77 Ha and Bu t up area 724}o2.ss Sq.Mtr) and for partial de-notification ofofan area of g.9g Ha ofthe SEZ. The balance u."u urt.. i.opo."d sub-division into tlvo sEZs and proposed partial de-notification of r-anco uilL s-Bz-g, Lanco Hills sEZ- Ais o.66 Ha and Lanco H rs SEZ-B is z.7g Ha.It was further confirmed that the Two sEZs will be contiguous and meet the minimum built up area requirement as per Rule 5(2Xb). In the proposal it has also been requested to continue the co-Deveropers status for M/s. Japson Estates P't. Ltd for developing infrastructure rike flooring, inieriors, fit-outs and other facilities related to IT industry in part of the building over an area of o.66 Ha in the proposed sEZ-A' co-Developer status of M/s. Dilyasree Tech park contractors prt. Ltd be also continued for providing infrastructure fac ities and other operations including IT/ITES buildings in an area of z.7g Ha in the proposed SEZ_B. ,/>/ Page 32 of 39

h park contractors prt. Ltd be also continued for providing infrastructure fac ities and other operations including IT/ITES buildings in an area of z.7g Ha in the proposed SEZ_B. ,/>/ Page 32 of 39

The Board observed the business requirement for partial de-notification and reasonability for bifurcation of SEZ for maintaining contiguity after the removal of connected land area which is currently connected through overbridge. The Board also noted that after bifurcation, both SEZs would satisfu the minimum area requirement for an IT/ITES SEZ and possess more thalt 5oooo sqm built-up space. Accordingly, the Board auproved the biturcation of SEZ developed by M/s. Lanco Hills 'l'echnology Park Private Limited into z SEZs as proposed, and deferred the proposal of partial de- notification of SEZ area. The board directed the DC, VSEZ to submit the proposal of partial de-notification once the procedure for bifurcation is complete to maintain the contiguity and administrative clarity. Agenda Item No. t1g.t6:. Request for setting up ofnew SEZ Ir proposal - t3g.r6(i)] l3g.r6(i) Proposal of M/s. Cognizant Technology Solutions India Private Limited for setting up of an SEZ for IT/ITES in an area of 8.9799 Ha (zz.r9 Acres) in Sy. Nos. :t9411, 3g4/2P, }g'ltP. 39512P, 396/P and 397/P at Madhurawada, Visakhapatnam, Andhra Pradesh. DC, VSEZ informed the Board that the M/s. Cognizant Technology Solutions India Private Limited proposes to invest {r582.g8 cr with estimated export of -z6zo.o5 cr and employment generation of approx. u3o2 persons over a peliod of 5 years.

s. Cognizant Technology Solutions India Private Limited proposes to invest {r582.g8 cr with estimated export of -z6zo.o5 cr and employment generation of approx. u3o2 persons over a peliod of 5 years. DC further informed that the lands proposed for setting up of SEZ is orarred by APIIC Limited, an area of 8.9799 Ha has been allotted to M/s. Cognizant Technology Solutions India Private Limited on sale basis (of tr only) for setting up of thc sEZ for IT/IT Enabled Services. The identified area is vacant without any public thoroughfare ind without anv structures and it is fulfilling the contiguity condition of Rule-5 and Rule-7 of SEZ Rule zoo6' The Board, after deliberations, granted Formal Approval to the proposal of M/s. cognizant Technology solutions India Private Limited for setting up IT/ITES SEZ at Sy. Nos. 3g4 1, 3g4l2P. 395/1P, gg'l2P, 396lP arul 3g7lP at Madhurawada, Visakhapatnam, ,Andhla Pradesh over an area of 8.9799 Ha. Supplementary Agenda-II Agenda Item No. 139.t7'l Request for setting up ofnew SEZ I z proposal - r3g.rZ(i)- rgq'rZ(ii)] v Page 33 of 39

ada, Visakhapatnam, ,Andhla Pradesh over an area of 8.9799 Ha. Supplementary Agenda-II Agenda Item No. 139.t7'l Request for setting up ofnew SEZ I z proposal - r3g.rZ(i)- rgq'rZ(ii)] v Page 33 of 39

13?.1xi) Pr,posal of M/s' freter.gineous Integration packaging sorutions Private Limited tbr setting up of a sector specific semicondu"to. snz i., ,r, arca of ro.rr? Ha al virragc: G'udakasipu". ui"t, Khordha.'rorru"ir, .lutrri, Sate:Odisha. DC, FSIIz inlorrned lhat the Board that I\4/s. [[eterogeneous Inregr:tion packaging solrrtions Pri'ate Limited proposes to in'est up to Rs. zgt.gg cr for rnanufacturing of semiconliuctors *'ith an expected FDI of rb.3B milion IJSD from 3D Glass solutions Inc., USA and expected to export approx. :r5g.t5 cr and generate employment of approx. z5o over a period of 5 years. DC, FSEZ further informed that the Developer is in po.s"r.io, of ro.!7 Ha of vacant land and Strlte Gol,t. has gircn its recommendation to ihe proposal. Further DC also confirnred that the itlentifierl area is vacant without any iublic thorougtrlare and contiguous ln nature and it satisfies aI the conditior, .eqoi.ed unde. SEZ Act/ru les. rhe lloarc, after cleliberations, Earanted pormal Approvar to the pr.posal of M/s. Heterogeneous Integration packagi.g Solutions private Limited for settinj up of an sEZ for Marrufacturing of semiconductors at Gourrakasipur village, Jatni rah"asi, Khordha, Odisha over an area of to.rt7 Ha. r39.r7(ii) Proposal of M/s.

Solutions private Limited for settinj up of an sEZ for Marrufacturing of semiconductors at Gourrakasipur village, Jatni rah"asi, Khordha, Odisha over an area of to.rt7 Ha. r39.r7(ii) Proposal of M/s. Arham sEZ (r) private Limited for setting up of Nlulti Product sEZ in an ar ea of g4,rgr7 Ha at V,rage wadara, Taruka Mundra, District Kutch, Gujarat, DC, KASEZ informed that M/s. Arham sEZ (I) private Limited has sought in -principle approval for setting up of Multi sector SEZ at Village vadala, Taluka Mund.u, Di.t.i"t Kutch, Gujarat over an area of 94.rgr7 Ha and it has proposed to invest z3o cr and expected to export approx. loooo cr and generate employment of approx. gooo indirect/direct persons over a period of5 years. Further, the state Govthas recommended the proposal. The Board, after deliberations, sranted "In-principre,, Approvar to the proposar of M/s. Arham SEZ (I) private rimited for settinjup of Murti seclor sEZ at vittage waaau, Taluka Mundra. District Krrtch, Gujarat ou". u., u."u of g4.tgt7 Ha. Agenda Item No. 189.1g: Request for extension of LoA of SEZ Unit I r proposal _ Ug.rg(i))] ,/.v Page 34 of 39

Z at vittage waaau, Taluka Mundra. District Krrtch, Gujarat ou". u., u."u of g4.tgt7 Ha. Agenda Item No. 189.1g: Request for extension of LoA of SEZ Unit I r proposal _ Ug.rg(i))] ,/.v Page 34 of 39

189.18(i) Request of NI/s. I Solution llicrosvstcrns Private Linritcd in the Mahindra World City (,Iaipur) Ltd. Multi-I,roduct SIIZ at Jaipur ( Rajasthau) for extension ofLOA beyond o8.12.2o25. DC, NSEZ informed the Board that unit was issued LoA on og.rz.zozz and it was valid till o8.tz.zoz5, however it is yet commence operation and there is no construction at present on the premises of the unit. It was further informed that the delay in operationalization occurred due to financial constraints and reduced order flow flom overseas buyers during the relevant period. DC also informed that Unit has undertar,en to complete the construction by October' 2026 and commence th.e operations 'y November'zoz6. Request for Cancellation ofCo-Developer status Ir proposal-139.19(i) I rSq.rg(i) Request for cancellation of Co-Developer status M/s. XT Glohal Infotech Limited, Co-Developer in M/s. APIIC Limited at Hill No.3, Madhurarvada, Visakhapatnam. DC, VSEZ informed the Board that M/s. XT Giobal Infotech Limited rvas issued Letter of Approval as a Co-f)eveloper for undertaking the Building Operations & Maintenance (O&M) Services at SEZ developed by M/s. APIIC Lirnited at Hill No. 3, N{adhurawada, visakhapatnam. I{is. XT Global Infotech Limited, unit has already exited from the SEZ due to the partial denotification of an area of u.59 Ha and addition of an area of o.3l Ha at the SEZ.

dhurawada, visakhapatnam. I{is. XT Global Infotech Limited, unit has already exited from the SEZ due to the partial denotification of an area of u.59 Ha and addition of an area of o.3l Ha at the SEZ. Norv, it has requested for cancellation of co-Developer status as Developer is in process of re-structuring the management of its SE7- and henceforth developer itself will take care of the Building Operation 8r Nlaintenance (O&M) Servir:es. Further, DC was also informed that Developer i.e. Nf/s. APIIC Limited bas prorided its "No ob;ection Certificate" for cancellation of Co-Developer status and Speci{ied officer has also issued NoDues Certificate for the proposal A u P;ge 35 of 39 In this regard, DGEP observed that the validity of LoA for unit has expired on 08.12.2o4s and tenability of proposal for extension in view of Rule tg(S) of SEZ Rules zoo6, needs to be discussed. On this, DC, NSEZ informed that the Unit had submitted its initial request for further extension of LoA prior to the expiry of LoA and due to subsequent examination and response of unit, it got delayed. Accordingly, the Boartl being satisfied that it is necessary and expedient in pursuance to third proviso to Rule tg(4) of SEZ Rules, 2006, granted extension of validity of LoA for a further period of one year, i.e., upto oB.12.2026. Agenda Item No. 139.19:

ry and expedient in pursuance to third proviso to Rule tg(4) of SEZ Rules, 2006, granted extension of validity of LoA for a further period of one year, i.e., upto oB.12.2026. Agenda Item No. 139.19:

Accordingly, the Board, after deliberations, .apIl{A_ye-d the proposal for cancellation of Co-Developer statr.rs of I{/s. XT Global Infotec}r Limitecl in the SEZI developed by M,i s. APII(I Limited at I{ill No. 3, Ntadhurawada, /isakhirpatnam. Agenda Itern No.r39.:o: Appcal [r c:rse: 139.zo(i)] $9.2o(i) Appeal of M/s Odin Digital Solutions LLp under Rule 55 of the sEZ Rules, 2006 read with section 15 ofsEZ Act, 2oos against rejection of proposal for setting up a unit in Noida Special Economic Zone (NSEZ) . Thc appeal rvas filotl under section rS(4) uf the SEZ Act, 2oo5 and Rule 55 of SEZ Rules, zoo6, b1, N,I/s Odin Digital Solutions LLP, a firm incorporated under 'the Limited Liability Partnership Act, zoo8, u.hose application for setting up an SIiZ unit under thejurisdiction of DC, Noida SEZ, has been rejected. The appeal was filed against the NSEZ's Order of rejection dated o6.o4.zoz6 communicating the decision taken cluring the UAC, NSEZ meeting held on z4.og.zoz6 rejecting the request of appellant for setting up of new unit. The Approval Committee considered the proposal for setting up the unit and noted that during physical verification the registered office was found to be a residential apartment with no visible business activitv.

Committee considered the proposal for setting up the unit and noted that during physical verification the registered office was found to be a residential apartment with no visible business activitv. The Committee also observed that the proposed items were sensitive in nrture and that the applicant appeared non-operational and loss- making since FY zozt-zz, v,rithout adequate infrastructure or relevant experience. Accordingly, under Section r5 of the SEZ Act, zoo5 read with Rule t8 of the SEZ Rules, 2006, the proposal for setting up the unit in NSEZ was rejected. Being aggrieved with the decision of UAC, Appellant has filed an appeal against the UAC order before the Board of Approval in Form J dated z8.o4.zoz6. The Board in its r39th meeting held on 11th may 2026, heard the appellant virtually and brief submission made by the appellant are as follows: i. The registered office at Mehrauli, New Delhi is maintained only for statutory and compliance purposes, while all proposed operations are intended to be carried out exclusively from the SEZ premises after approval. ii. The SEZ Act and Rules do not require an applicant to be operational, profitable, or to maintain infrastructure at the appiication stage; the relevant considerations are export potential, positive NFE, and compliance capability. Page 35 of 39 . Submissions bv the appellant V

ble, or to maintain infrastructure at the appiication stage; the relevant considerations are export potential, positive NFE, and compliance capability. Page 35 of 39 . Submissions bv the appellant V

Ilt The LLP's temporary non-operational status and financial losses were primarily due to the unprecedented impact of the COVID-r9 pandemic and the extended stabilisation phase after the current partners took over the business in zoz3. A detailed business plan, projected financials, and export-oriented roadmap were already submitted, demonstrating preparedness and future operational capability. Any procedural shortcomings, such as non-display of signboard or verification- related issues, were curable in nature and should not have rcsulted in outright reiection of the proposal. Appellant has prayed to set aside the rejection order and approve the proposal of M/s Odin Digital Solutions LLP for setting up a unit in NSEZ. Further, Appellant has requested for sympathetic consideration of appeal in the interest ofjustice and the objectives of the SEZ policy. vl Submissions bv DC.

tions LLP for setting up a unit in NSEZ. Further, Appellant has requested for sympathetic consideration of appeal in the interest ofjustice and the objectives of the SEZ policy. vl Submissions bv DC. NSEZ The DC, NSEZ made the following arguments against the contention of the appellant: The Approval Committee, took note of the physical verificatiot.t of the registered office, which indicated that the premises was a residential apartment with no signboard or appalent business activilv at the time ofvisit. The Committee further observed that the proposed items'were sensitive in nature and that, based on the submitted balance sheet, the applicant appeared to be nonoperational and incurring losses since FY 202722. with no established infrastructure or demonstrated experience for underlaking the proposed activities. The decision of UAC NSEZ vide its meeting held on z4.o3.zoz6 may be upheld. I'he Board, after deliberation, observed that procedural shortcomings, such as non- display of signboard or verification-reiated issues, are curable iu nature and should not have resulted in outright rejection of the proposal rather appellant should be directed to rectify in terms of principles of natural justice. Accordingly, the Board taking into consideration the above submissions, remanded the matter back to the UAC, NSEZ for reconsideration of matter after giving proper opportu n ify to the appcllant. I Page 37 of 39

the Board taking into consideration the above submissions, remanded the matter back to the UAC, NSEZ for reconsideration of matter after giving proper opportu n ify to the appcllant. I Page 37 of 39

4nnexure.s,-_I List of Participants for the ltleeting of the 139th Board of Approval for SEZ held orr'rrth lrray, 2026 under the chairmanship of commerce secretary, Department ol' Com merce. r' shri Rajesh Agarwal, chairman & commerce secretary, Department of commerce z. Shri Ajay Bhacioo, Additional Secretary, Department of Commerce 3. Shri lav Aganval, DG, DGFT, 4. Shri Virnal Anand,.Ioint Secretar ,-, DoC (additional Charge DC, NSEZ) S. Shri Gaurav pundir, Director, DoC 6. Shri KR. Sharma, DG, DGEP, CBIC 7. Shri Ranjan Khanna. pr. ADG, DGEp, CBIC B. Shri D.B. Patil. Development Commissioner, SEEPZ-SEZ/ KASEZ g. Smt. P. Hemalatha, Development Commissioner, CSEZ ro. Shri Srinivas Muppaala, Development Commissioner, VSEZ rr. Shri Alex Paul Menon, Development Commissioner, ME\Z-SEZ rz. Shri Abhinav Gupta, Development Commissioner, GIFI SEZ 13. Shri Chandrakant Mishra, Additional DGFT 14. Shri Paras Mani Tripathi, Joint Development Commissioner, NSEZ r5. Shri Harish Varmaa p, JDC, CSEZ, Bangalore List ofparticipants connected u,ith Video Conferencing: _ r. ITA-I, Division, CBDT z. Shri D.B Singh, Development Commissioner, FSEZ 3. Shri Anupam Kumar, Development Commissioner, Dahej SEZ 4. Smt. Dona Ghosh, Development Commissioner, Mangalore SEZ 5. Shri Anupam Kumar, Development Commissioner, Dahej SEZ 6. Dr. Praveen Kumar, Development Commissioner, Mihan SEZ 7.

missioner, Dahej SEZ 4. Smt. Dona Ghosh, Development Commissioner, Mangalore SEZ 5. Shri Anupam Kumar, Development Commissioner, Dahej SEZ 6. Dr. Praveen Kumar, Development Commissioner, Mihan SEZ 7. Shri Abhimaniu Sharma, Development Commissioner, Surat SEZ 8. Shri, Shri Abhishek Sharma, Development Commissioner, Indore SEZ 9. Shri Gautham S, DGM, IFSC. 10. Shri Chetan Varma, SO, GIFI SEZ, Ghandhnagar 11' shri Anil Kant Mishra, Research assistant tclo, uinistry of Housing & urban Affairs rz. Shri P. K. Gangwar, Deputy Legal Adviser, Department of Legal Affairs 13' Ms. Meenakshi Agarwar, scientist 'E' software Industry promotion Division, Ministry of Electronics & IT. r4. Shri Surendra Singh Under Secretary, DpIIT r5. Dr. Sandeep Kr Raut, Town & Country planner, MoHUA Page 38 of 39

r6. Shri. C,Arthur Worchuiyo, ,loint Development Commissioner, ME,\Z-SEZ r7. Shri Om Prakash Bishnoi, JDC Ahmedabad Cluster r8. Shri Gurpreet Singh, Tech. Consultant, Department of Chemicals Petrochemicals 19. Shri Rajneesh Mittal, AGM, Directorate of Industries & Commerce, Haryana zo.Joint Development Commissioner, ApSEZ zr. Deputy Development Commissioner, VSEZ and I P;ge 39 of 39