Supplementary Agenda for the 126th meeting of the BoA for SEZs

No. K-43022l I 5 4 12024-SE Z Government of India Ministry of Commerce and Industry Department of Commerce (SEZ Section)

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Vanilya Bhawan, New Delhi Dated the 30tl' December" 2024 OF'FICE MEMORANDUM

Subject: I't meeting (2025 series) of the Board of Approval for Export oriented Units and

1261h Meeting of the Board ofApproval for Special Economic Zones - regarding. The undersigned is directed to refer to this Department's O.M. of even number dated 26rl' December, 2024 on the subject cited above and to inform that lst meeting (2025 series) ol the Board olApproval lor Export Oriented tlnits and l26th Meeting ofthe Board ofApproval for Special Economic Zones. earlier scheduled for 0-1'd.lanuan 2025. has heen nostooned until fu rther noticc. 2. The Supplementary Agcnda for the l26th meeting of the BoA for SEZs is enclosed herewith.'l'he same has also been hostcd on the website: www.sezindia.sov.in. fl (Sumit Kum han) l. Central Board of Excise and Customs. Member (Customs). Department of Revenue. North Block. New Delhi. (Fax: 23092628). 2. Central Board ol Indirect Taxes and Customs. Member (l'l'). Department ol Revenue, North Block, New Delhi. (23095479) 3. Joint Secretary, Ministry of Finance. Department of Financial Services. Banking Division, Jeevan Deep Buitding. New Delhi (F ax 23344462123366797). 4. Shri Sanjiv. Joint Secretary. Department of Promotion of Industry and Intemal Trade (DPIIT). [JdyogBhawan. New Delhi. 5. Joint Secretary. Ministry of Shipping, Transport Bhawan. New Dethi. 6. .loint Secretary (E). Ministry olPetroleum and Natural Gas. ShastriBhawan. New Delhi 7. Joint Secretary, Ministry of Agriculture, Plant Protection. KrishiBhawan, New Delhi. 8. Ministry of Science and Technology. Sc 'G' & Head (TDT). Technology Bhavan, Mehrauli Road, New Delhi.

Delhi 7. Joint Secretary, Ministry of Agriculture, Plant Protection. KrishiBhawan, New Delhi. 8. Ministry of Science and Technology. Sc 'G' & Head (TDT). Technology Bhavan, Mehrauli Road, New Delhi. ('fclefax: 26862512) 9. Joint Secretary, Deparlment of Biotechnology. Ministry of Science and Technology, 7th Floor. Block 2. CGO Complex. I-odhi Road. New Dethi - I l0 003.
To Under Secretary to the Govemment of India lel: 23039829 Email : sumit.sachan@nic.in

10. Additional Secretary and Development Commissioner (Micro. Small and Medium Enterprises Scale lndustry), Room No. 701 , NirmanBhavan, New Delhi (Fax: 23062315).
11. Secretary, Department ofElectronics & Information Technology, Electronics Niketan. 6, CGO Complex, New Delhi. (Fax:24363101)
12. Joint Secretary (lS-l), Ministry of Home Affairs. North Block. New Delhi (Fax: 23092569)
13. Joint Secretary (C&W). Ministry of Defence, Fax: 23015444. South Block. New Delhi.
14. .Ioint Secretary, Ministry of Environment and Forests, PariyavaranBhavan. CGO Complex, New Delhi I l0003 (Fax: 24363577)
15. Joint Secretary & Legislative Counsel, Legislative Department. M/o Law & Justice. A- Wing. ShastriBhavan. New Delhi. (Tel: 23387095).
16. Department ollegal Affairs (Shri Hemant Kumar. Assistant Legal Adviser), M/o Law & Justice. New Delhi.
17. Secretary. Department of Chemicals & Petrochemicals, Shastri Bhawan. New Delhi
18. Joint Secretary. Ministry ol Overseas Indian Affairs, Akbar Bhawan. Chanakyapuri. New Delhi. (F ax: 2467 41 40 )
19. Chief Planner.

rtment of Chemicals & Petrochemicals, Shastri Bhawan. New Delhi 18. Joint Secretary. Ministry ol Overseas Indian Affairs, Akbar Bhawan. Chanakyapuri. New Delhi. (F ax: 2467 41 40 ) 19. Chief Planner. Depa(ment of Urban Affairs, Town Country Planning Organisation. VikasBhavan (E-Block). I.P. Estate, New Delhi. (r"ax: 23073678123379197) 20. Director General. Direclor Ceneral ol Foreign Trade" Department of Commerce. UdyogBhavan. New Delhi. 2l . Director General. Export Promotion Council for EOUs/SEZs, 8G. 8,h Floor, Hansalaya Building. 15. Barakhamba Road. New Delhi I l0 001 (Fax: 223329770) 22. Dr. RupaChanda. Professor. lndian Institute of Management, Bangalore, Bennerghata Road. Bangalore. Karnataka 23. Development Commissioner, Noida Special Economic Zone. Noida. 24. Development Commissioner, Kandla Special Economic Zone. Gandhidham. 25. Development Commissioner. Falta Special Economic Zone, Kolkata. 26. Development Commissioner. SEEPZ Special Economic Zone, Mumbai. 27. Development Commissioner, Madras Special Economic Zone, Chennai 28. Development Commissioner, Visakhapatnam Special Economic Zone. Visakhapatnam 29. Development Commissioner. Cochin Special Economic Zone. Cochin. 30. Development Commissioner, lndore Special Economic Zone, Indore. 3 l. Development Commissioner. Mundra Special Economic Zone, 4th Floor, C Wing, port Users Building. Mundra (Kutch) Gujarat. 32. Development Commissioner. Dahej Special Economic Zone. Fadia Chambers. Ashram Road. Ahmedabad. Guj arat 33.

Special Economic Zone, 4th Floor, C Wing, port Users Building. Mundra (Kutch) Gujarat. 32. Development Commissioner. Dahej Special Economic Zone. Fadia Chambers. Ashram Road. Ahmedabad. Guj arat 33. Development Commissioner, Navi Mumbai Special Economic Zone, SEEpZ Service Center, Central Road. Andheri (East), Mumbai 400 096 34. Development Commissioner. Sterling Special Economic Zone. Sandesara Estate. AtladraPadra Road. Vadodara - 390012 35. Development Commissioner. Andhra Pradesh Special Economic Zone, UdyogBhawan, 91h F'loor, Siripuram. Visakhapatnam - 3 36. Development Commissioner, Reliance Jamnagar Special Economic Zone. Jamnagar. Gujarat 37. Development Commissioner, Surat Special Economic Zone, Surat, Gujarat 38. Development Commissioner, Mihan Special Economic Zone. Nagpur, Maharashtra 39. Development Commissioner, Sricity Special Economic Zone, Andhra pradesh. 40. Development Commissioner, Mangalore Special [iconomic Zone, Mangalore. 41. Development Commissioner, GIF'T SEZ. Gujarat

. Development Commissioner, Sricity Special Economic Zone, Andhra pradesh. 40. Development Commissioner, Mangalore Special [iconomic Zone, Mangalore. 41. Development Commissioner, GIF'T SEZ. Gujarat

42. Commerce Department. A.P. Secretariat, Hyderabad - 500022. (Fax: 040-23452895).
43. Govemment of Telangana. Special Chief Secretary, lndustries and Commerce Department, Telangana Secretariat Khairatabad, Hyderabad, Telangana.
44. Government of Karnataka. Principal Secretary. Commerce and Industry Department, Vikas Saudha, Bangalore - 560001. (F'ax: 080-22259870)
45. Govemment of Maharashtra, Principal Secretary (lndustries), Energy and Labour Department, Mumbai - 400 032.
46. Government of Gu.iarat. Principal Secretary. Industries and Mines Department Sardar Patel Bhawan. Block No. 5. 3rd Floor, Gandhinagar - 382010 (Fax: 079-23250844).
47. Govemment of West Bengal. Principal Secretary. (Commerce and Industry), IP Branch 1411'Floor), SEZ Section.4. Abanindranath Tagore Sarani (Camac Street) Kolkata 700 0r6
48. Government olTamil Nadu, Principal Secretary (lndustries), Fort St. George. Chennai 600009 (Fax : 044 -2s37 0822).
49. Government of Kerala. Principal Secretary (lndustries). Govemment Secretariat, Trivandrum - 695001 (Fax: 0471-2333017).
50. Govemment of Haryana, Financial Commissioner and Principal Secretary), Department of Industries. Haryana Civil Secretariat, Chandigarh (Fax: 0172-2740526).
51. Govemment of Rajasthan. Principal Secretary (lndustries), Secretariat Campus. Bhagwan Das Road. Jaipur 302005 (0141-2227788).

ries. Haryana Civil Secretariat, Chandigarh (Fax: 0172-2740526). 51. Govemment of Rajasthan. Principal Secretary (lndustries), Secretariat Campus. Bhagwan Das Road. Jaipur 302005 (0141-2227788). 52. Government of lJttar Pradesh, Principal Secretary, (lndustries). Lal Bahadur Shastri Bhawan. Lucknow 226001 (Fax: 0522-2238255). 53. Govemment of Punjab, Principal Secretary Department of Industry & Commerce UdyogBhawan), Sector - l 7. Chandigarh- 16001 7. 54. Govemment of Puducherry. Secretary, Department of lndustries, Chief Secretariat. Puducherry. 55. Government ol Odisha, Principal Secretary (lndustries). Odisha Secretariat, Bhubaneshwar 75 1 00 I (Fax: 067 1 -536819 12406299). 56. Govemment of Madhya Pradesh, Chiel Secretary. (Commerce and Industry), VallabhBhavan, Bhopal (Fax: 01 55-255997 4) 57. Government of Uttarakhand, Principal Secretary. (lndustries), No. 4, Subhash Road. Secretariat, Dehradun. Uttarakhand 58. Govemment ol Jharkhand (Secretary), Department ol Industries Nepal House, Doranda. Ranchi - 834002. 59. Union 'fenitory ol Daman and Diu and Dadra Nagar Haveli, Secretary (Industries). Depa(ment ol Industries. Secretariat, Moti Daman 396220 (Fax: 0260-223077 5). 60. Government of Nagaland. Principal Secretary. Department of Industries and Commerce). Kohima, Nagaland. 61. Govemment of Chattishgarh, Commissioner-cum-Secretary lndustries, Directorate of Industries. LIC Building Campus,2"d Floor. Pandri, Raipur, Chhattisgarh (Fax: 0771-258365 r ). Copy to: PPS to CS / PPS to AS (LSS) / PPS to.lS (VA)/ PA to Dir (GP)

retary lndustries, Directorate of Industries. LIC Building Campus,2"d Floor. Pandri, Raipur, Chhattisgarh (Fax: 0771-258365 r ). Copy to: PPS to CS / PPS to AS (LSS) / PPS to.lS (VA)/ PA to Dir (GP)

Suoolcmentarv Aeenda for thc l26th meeting ofthe lloard ofApproval for Snecial Flconomic Zones (SI.lZs) Agenda Item No. 126,7: Request for extension of LoA ofSRZ tlnit [r proposal - l26.7G)1 Releusnt Rule posilion : As per Rule r8(1) of the SEZ Rules, the Approual Committee maA approue or reject a proposal for settinq up of Unit in a Special Economic Zone. Cases for consideration of extension of l€tter of Approval i.r.o. units in SEZs are governed by Rule l9(4) of SEZ Rules. Rule t9(4) states that toA shall be valid for one year. First Proviso grants power to DCs for extending the LoA for a period not exceeding 2 years. Second Proviso grants further power to DCs for extending the loA for one more year subject to the condition that two-thirds of activities including construction, relating to the setting up of the Unit is complete and a Chartered Engineer's certificate to this effect is submitted by the entrepreneur. Extensions beyond 3"iyear (or beyond znd year in cases where two-third activities are not complete) and onrvards are granted by BoA. BoA can extend the validity for a period ofone year at a time. There is no time limit up to which the Board can extend the validity. Page 1 of 23

s are not complete) and onrvards are granted by BoA. BoA can extend the validity for a period ofone year at a time. There is no time limit up to which the Board can extend the validity. Page 1 of 23

r^26,ZG) Proposal of M/s. BEML Limited, a unit in I(IADB Aerospace special E'conomic Zone, Bangarore for extension of varidity 1i i"'" "r Approval for a further period of three months no_ os.or."ori to o4.o 4.zoz1 (r3 Extension). Jurisdictional SEZ - Cochin SEZ (CSEZ) Facts ofthe case: Name of the Unit LoA issued on (date) Nature of business ofthe unit No. of extensions granted loA Valid upto (date) Request for Present Progress: a Details of Business plan: Extension ofvalidity of LoA for a further period of three months from o5.or.zoz5 to 04.04.2025. M/s. BEML Limited o6.o1.2or2 Manufacture and export of Mechanical Components rz extensions fby DC, CSEZ & BOA) o4.o7.2025 Aerospace b l'otal Investment made so far and incremental investment since last extension: l. No. cription Proposed Investment (t in crore) 1 Land 1.26 Compound wall o.90 Machinerl, 13.OO other statutory fee etc. o.7B 5 nvestment on facilities proposed & planned) I 5.Oo otal 90.94 I o escription vestment (t in crore) otal ncremental nvestment ince ({ in crore) las ensron Land 1..26 Nil , Compound rvall .9o il Page 2 of 23

nt on facilities proposed & planned) I 5.Oo otal 90.94 I o escription vestment (t in crore) otal ncremental nvestment ince ({ in crore) las ensron Land 1..26 Nil , Compound rvall .9o il Page 2 of 23

4 Other Statutory fee etc o.7B NiI 5 Construction of 5ooo sq.ft. Hangar for warehousing, storage, including office & material handling equipment 1.80 r.Bo Total 62.24 r.8o Machinery Details of physical progress till date: - 13.OO Nil C sl. No. Activity Completion Complction during last one vear Deadline completion balance u'ork for of 1 l,and, Construction of Compound wall 1OO Nil 2 Construction of 5ooo sq.ft. Hangar for warehousing, storage, including office and allied support sen ices 6o 6o By end ofJanuary 2o2S Material handling equipments 95 95 Materials will be received from December 2c24 to March zoz5 Detailed reasons for delay: - . They have made an investment of *62.74 crore towards land, construction of compound wall in the allotted area and purchase of machinery. . Obtained building approval from KIADB. . To start the construction activities, they have awarded contract to M/s. URC Construction Private Limited. The Contractor has not fulfilled the contractual conditions like third part1, certification of design & shop drau,ings, adhering to manufacturing standard for PEB structures and submission of Project Evaluation & Revieu, Techniques (PB,R|) charge with resource commitments. Hence, the project came to standstill leading to arbitration.

facturing standard for PEB structures and submission of Project Evaluation & Revieu, Techniques (PB,R|) charge with resource commitments. Hence, the project came to standstill leading to arbitration. The Sole Arbitrator appointed by the Arbitration Centre of Hon'ble High Court of Karnataka issued order on zo.o8.zo16 in favour of M/s BEML. Page 3 of 23

The contractor had filea an apprication before the Hon'ble city ci'il court, Bangalore challenging the award passed by the Arbitral Tribunal it , pv.. i" set aside the Arbitral award dated zo.oB.zo16 & modified order dated 07'17'2076. The Hon'bre court dismissed the petition filed by the contractor vide judgmenl dated o9.o6.zoz r. the co-ntractor fired an appear against the judgment dated o9.o6.zozr before the Hon'ble High Court of Karnataka (Commercial"eppeal Nos. r37/zozr & 49/zozr), rvhich is pending for adjudication. Now' the unit has broaa-banded their items of manufacture by including additional sen'ices/activity (warehousing, storage and allied support sen,ices) in !he- L9A BEML has placed a contract for constiuction of 5ooo sq.ft. Warehouse including office in January 2024. The construction is expected to be completed bi, the end of December zoz4. Incessant rains in September & November zoz4, hampered the construction work with an anticipated'J"iry of , months. AII the steel columns have been erected alongwith cross tseams. 4.5 mtrs. of all round lrall have been completed.

November zoz4, hampered the construction work with an anticipated'J"iry of , months. AII the steel columns have been erected alongwith cross tseams. 4.5 mtrs. of all round lrall have been completed. Flooring, Security buildings in two sides ha'e been completed. The unit has placed purchase order for materiar handring equipment worth {76.oo lakh, rvhich is expected to be received bet*,""n Junru.y'& March zoz5. on completion of the construction work, the K'ADB will inspect thJuilding for adherence of safety and regulatory norms and issue necessary certificate. The unit submits that on receipt ofthe oc"upun"y "".tifi"ate from the KIADB, they will commence their operation immediatelr,.. Recommendation by DC, CSEZ: considering the in'estment made by the unit and progress in implementation of the project, the request for extension of varidity of t€tte; of Approval for a further period of 3 months (r4th year, r3th extension) from o5.o1.2o2s to o4.o4.2o2sis recommended for consideration of BoA. Page 4 of 23

equest for extension of varidity of t€tte; of Approval for a further period of 3 months (r4th year, r3th extension) from o5.o1.2o2s to o4.o4.2o2sis recommended for consideration of BoA. Page 4 of 23

Agenda Item No. 126,8: Request for Co-Developer status [2 proposals - 126.8(i) to r26.8(ii)] levant provision: In terms of sub-section (rr) under Section 3 ofthe SEZ Act, oo5, Any person who or a Stote Gouernment which, intends to prouide any nfTastructure facilities in the identified area or undertake any authorized peration after enterinq into an agreement with the Deueloper, make a proposal r the same to the Board for its approual. 126.8(i) Proposal of M/s. Soujanya Color Private Limited for Co- Developer status in Jawaharlal Nehru Port Authority-SEZ, Raigad, Navi Mumbai. Jurisdictional SEZ - SEEEPZ SEZ (SEEPZ) I Name of the Developer & Location M/s. .Iawaharlal Nehru Port Authority, Raigad, Nari Mumbai - 4oo7o7 2 Date of LoA to Developer Sector of the SEZ Date of Notification 11.O8.2O 14 5 Total notified area (in Hectares) 277 387 Hectare 6 Whether the SEZ is operational or not Operational (i). If operational, date of operationalization 24.06.2O2O (ii). No. of Units (iii). Total Exports & Imports for the last 5 years (Rs. in Cr.) - The SEZ became operational w.e.f .z4.o6.zozo and the total Exports and Imports are Rs.4816.69 crores and Rs.1o342.94 crores, respectively for the period from 24.06.2020 till date. (iv). Total Employment (In Nos.) 784 Nos. 7 Name of the Co-Developer sought approval for Co-Developer status M/s. Soujanya Color Private Limited, Plot No.

ly for the period from 24.06.2020 till date. (iv). Total Employment (In Nos.) 784 Nos. 7 Name of the Co-Developer sought approval for Co-Developer status M/s. Soujanya Color Private Limited, Plot No. 3rS, Sector 3, Jawaharlal Nehru Port Authority-SEZ, Raigad, Navi Mumbai - 4oo7o7 Page 5 of 23 Facts of the case: It6ln.zot+ 3. lMulti Product/ Multi Sector SEZ 4. lsc

B Details of Infrastructure facilities/ authorized operations to undertaken by the co-developer Construction of Infrastructure for be Buildings sEZ/Ft'Wz and units, Manufacturing, 1'rading, Warehousing, Commercial and Other Sen.ice units nith Associated Civil, Structural Infrastructure including Mechanical, Electrical, Instrumentation work, Equipment related to process and utilities, piping, Software and IT systems, Offices, Canteen, Materials Storages systems, Racks, material handling equipment, Water purification and waste water disposal systems, Public Health MEp, Firefighting System, and Alarm Systems and alike systems and facilities required to set up and maintain chemical manufacturing unit, and undertaking other default authorized operations as per MOCI Inslruction No. 15.O3.2O1O 50 dated: The following supporting documents have been submitted: , i' "In principle approval" issued by M/s Jawaharlar Nehru port Authority, the Developer date d, zz.oB.zoz4. ii. Copy of Co-Developer agreement dated z5th Nov zoz4 for the proposed area. Recommendation by DC, SEEpZ: The request of M/s.

M/s Jawaharlar Nehru port Authority, the Developer date d, zz.oB.zoz4. ii. Copy of Co-Developer agreement dated z5th Nov zoz4 for the proposed area. Recommendation by DC, SEEpZ: The request of M/s. Soujanya coror private Limited for granting co-Developer status in Plot No' 3r5, sector 3, Jawaharlal Nehru port Authority-sEz, Raigad, Navi Mumbai - 400707for construction of Buildings and Infrastructure for sEZ/FTWZ units, Manufacturing, Trading, warehousing, commercial and other service units with 9 in Hectares) on whi activities will be performed by the co- developer Total area ( .42 SqMtr (3.62 Hectare) 36,788 10. Proposed int'estment developer (Rs. in Cr.) by the Co Rs. 46.92 crore 11. Net north of the Co-developer (Rs. in cr.) Rs. 8o.95 Crore t2. a D et f o the Co deve o r e il m e n e t p gre 25th No, 2024 Page 5 of 23

Associated Civil, Structural Infrastructure including Mechanical, Electrical, Instrumentation work, Equipment related to process and utilities, piping, Software and IT systems, Offices, Canteen, Materials Storages systems, Racks, material handling equipment, Water purification and waste $,ater disposal systems, Public Health MEP, F'irefighting System, and Alarm Systems and alike systems and facilities required to set up and maintain chemical manufacturing unit, and undertaking other default authorized operations as per MOCI Instruction No. 5o dated: 15.o3.2o1o in g6,788.47 Sq Mtr (3.67 Hectare) area, is recommended, in terms of Section 3(rr) of SEZ Act 2oo5 & Rule 3-A of SEZ Rules 2006 for consideration of the BoA. Page 7 of 23

on No. 5o dated: 15.o3.2o1o in g6,788.47 Sq Mtr (3.67 Hectare) area, is recommended, in terms of Section 3(rr) of SEZ Act 2oo5 & Rule 3-A of SEZ Rules 2006 for consideration of the BoA. Page 7 of 23

r26.8(ii) Proposal of M/s. MariApps Marinc solutions India private ri-1ited, co-I)eveloper for approvar oi construction of rr building with additional facilities in lieu of Murti-Level car parking on the additiorril rrrrd of o.3966 Ha (g8 cents) approved by BoA. JurisdictionalSEZ - Cochin SEZ (CSEZ) Facts ofthe case: M/s. MariApps Marine Solutions India private Limited was granted co-Developer status in- the above SEZ vide approvarNo. F.zl74lzoo6-sEZ dated r6.04.2o18 for derelopment of IT/ITES infrastructure and its operation and maintenance in an area of o.58674 ua (t45 cents) in the SEZ. subsequentlv, BoA was granted appro'al for expansion of area of o.o4o47 llaando.3966Ha. The details ofarea allotted are under: I o roval No. & Date ties 1 F.zl74/zoo6-SEZ r6.o4.zor8 dt. o.5867 nfrastructure and i peration & maintenance with ca king facilities in r.t and 2n,t Floor rrlrTES i 2 F.zl74lzoo6-SIiZ 07.12.202r time Training Centre Mari 3 .z/74/zoo6-SIcZ dt z8.o6.zoz3 o.3966o on of Multi-Level C arking to shift the existing c rking facilities at phase - uilding and convert the same to ffice space, subject to standa rms and conditions as per the EZ Act and Rules. onstructi Total r.oz38r Name of the Developer & Location Limited Block-og, Kakkanad Village, Kanayanoo aluk, Iirnakulam District M/s SmartCitl, (Kochi) Infrastructure Privat , Kerala 2 Date of LoA to Developer

Total r.oz38r Name of the Developer & Location Limited Block-og, Kakkanad Village, Kanayanoo aluk, Iirnakulam District M/s SmartCitl, (Kochi) Infrastructure Privat , Kerala 2 Date of LoA to Developer 21st April 2oo8 3 ector of the SEZ T/ITeS Date of Notification o1.o3.2o11 & z6.oz.zot4 Area allotted (in Ha) dt, o.o4047 1. 4. Page 8 of 23

5 otal notified area (in ectares) 3.9165 Whether the SEZ is operational or not Operational (i). If operational, date of operationalization 17.06.2016 (ii). No. of Units .1/ (iii). Total Exports & Imports for the last 5 years (Rs. in Cr.) - 20r9-2O2O 2020-2027 2ro2t-2r)22 2O22-2023 2023-2O24 Export Import Export Import Export Import Export Import Export Import 262.5r 27.20 332.24 3o.6o 393.87 19.81 639.o8 B.6z 962.97 6.zr 6 (iv). Total Emplotnnent (In Nos.) 7129 Nos. 7 Name of the Co-Developer sought approval for Co-Developer status (existing Co-Developer)

• For change of approved activity M/s. MariApps Marine Solutions India Private Limited 8 Details of Infrastructure facil it ies/ authorized operations to be undertaken by the co-developer Construction of a ne{ I'l' building contlining add itional facilities comprising of IT office space, parking facility and temporary accommodation facility for trainees during the time of their marine training in the additional land of o.3966 Ha which was approved b1, the BoA for construction of Multi-l,evel Car Parking facility. 9 Total area (in Hectares) on which activities will be performed by the co-developer 0.3966 [Ia (area already allotted to the Co-Developer for construction of MLCP)

i-l,evel Car Parking facility. 9 Total area (in Hectares) on which activities will be performed by the co-developer 0.3966 [Ia (area already allotted to the Co-Developer for construction of MLCP) 10. Proposed investment by the Co- developer (Rs. in Cr.) Rs.ro9.45 crore Source of funds for the new project - New capital investment (Foreign Direct Investment by the sole holding company - Schulte Maritime Services Pte Ltd) 11. Net worth of the Co-developer (Rs. In Cr.) l{s.roo.5z crore Page 9 of 23

72. Date of the Co-develo agreement 26.o5.2C23 In this regard, the Co-Developer has submitted the following documents: _ i. Request for change in approved activitv ii. NOC from the Developer iii. Co-DeveloperAgreement Recommendation by DC, CSEZ: -The request of M/s. MariApps Marine sorutions India private Limited, co-De'eloper of Smartcity (Kochi) Infrastructure p\t. Ltd. sEZ, for construction of new IT building *ith additional facilities in rieu of Murti-Le'el car parking in the additional land ar"u oiolsqoo Ha (98 cents) which was approved by the BoA is relcommended for consideration of the BoA. Page 10 of 23

additional facilities in rieu of Murti-Le'el car parking in the additional land ar"u oiolsqoo Ha (98 cents) which was approved by the BoA is relcommended for consideration of the BoA. Page 10 of 23

Agenda Item No. 126.9: Miscellaneous [l case - rz6.g(i)] r26.9(i) Proposal in respect of M/s. Shree Bhomika International Lirnited for Revival/Renewal of LOA of sick unit, Broad-banding of authorized operations, renewal of Lease deed. DC, NSEZ has submitted the proposal in respect of M/s. Bhomika International Limited for revival of LOA in terms of Rule 7z of SEZ Rules, zoo6. Brief history of M/s. Shree Bhomika International Limited: - ll. lll. iv. M/s. Shree Bhomika International Ltd. was granted LOA dated 17.02.7995 fot manufacturing & export of Cotton Knitted Fabrics and Knitwears. The Unit commenced production on z8.o3.zooo and the [,oA was valid upto Bo.o4.2oo2. The unit has not been doing any export activities since April, zoo3. The Plot No.59-I, NSEZ measuring 16100 sq. mtrs. was allotted to the unit on 24.o3.rgg' and possession was given on o7.o6.1995. The sub-lease deed executed on 26.1o.tgg1 was valid upto 31.o5.2o1o. The mortgage permission was granted to the unit in favor of IDBI, Neu,Delhi on 24.o6.1996. The unit is not paying the lease rent since 1999. Notice under Section 7 of P.P . Act, 1g7r was issued on 27.1o.2ooo & ro.o9.zooz. Order under Section 7 of P.P. Act, 19Z1was issued on 13.11.2ooo & o2.o7.2oo3. Notice under Section 4 of P.P. Act, 1971 was issued on 11.09.2oo2. Eviction Order under Section 5 of P.P.

o & ro.o9.zooz. Order under Section 7 of P.P. Act, 19Z1was issued on 13.11.2ooo & o2.o7.2oo3. Notice under Section 4 of P.P. Act, 1971 was issued on 11.09.2oo2. Eviction Order under Section 5 of P.P. Act, 1971 was issued on o2.o7.2oo3. The LOA of the unit was valid upto 3o.o4.2oo5 and hence stands cancelled n,.e.f. o1.o5.2OO5. The unit filed a reference to BIFR. The Hon'ble BIFR had been requested vide NSEZ letters dated z5.o4.zoo5 & 17.o5.2oo5 to permit eviction proceedings against the unit under P.P Act, rgTr during the pendency of BIFR proceedings. BIFR vide its order dated 19.06.2oo6 declared the unit as sick and appointed M/s. IDBI as Operating Agency for sale ofbuilding at Plot No. 59-I, NSEZ. Stressed Assets Stabilization Fund (SASF) r,ide letter dated 29.09.2oo9 proposed to take possession of the assets of the company under Section r3(z) of SARFAESI Act, 2oo2 and took the possession ofthe assets ofthe company on 1o.o5.2oro. Despite of several opportunities given by BII.'R to SASF and IDBI, they were not able to conduct successful auction ofthe building till 27.t1.2o76. vl. vii. viii. ix. x. xl. xll. xllt xlY. Page U of 23 Jurisdictional SEZ - Noida SEZ (NSEZ)

BII.'R to SASF and IDBI, they were not able to conduct successful auction ofthe building till 27.t1.2o76. vl. vii. viii. ix. x. xl. xll. xllt xlY. Page U of 23 Jurisdictional SEZ - Noida SEZ (NSEZ)

xI SASF submitted the valuation report on 25.1...2ot7 for Rs. ro.6t Crores and the Sale Notice, Tender documents etc. on 07.o2.2or}. The lease rent dues were informed to sASF vide NSEZ letter dated 04.07.2018 & breakup of dues was provided vide letter dated 31.1o.2o1g. vide e-mail dated zo.og.zor9, sh. Manish Agarwal informed that he has been appointed as the Insorvency Resolution professional and crRp (corporate Insolvency Resolution process) has been initiated against the unit under the pro'isions of Insol,ency and Bankruptcy code, zo16 by an order of National Company Law Tribunal (NCLT) with effect from i.o7.2otg. The status of the dues was conveyed to Resolution professional vide NSEZ letter dated o5.o9.zor9 and the claim ofthe dues was also filed in the prescribed format i'e' Form B' Resolution professional has arso been requested vide NSEZ letter dated 02.o9.2o2o to intimate the current status of the case. Sh' Anshul Rawat, Advocate, M/s. Surana&surana Internationar Attorneys (rcgar Firm of NSEZ) has been requested'ide NSEZ e-mail dated 2s.og.2otgand'letlr dated oz.o9.zo2o to present the case before NCL'f and intimate the current status of the case. sh' Anshul Rawat, Advocate vide e-ma dated o4.o9.zozo has informed that in the CIRP process of M/s Shree Bhomika International Ltd, pending before NCI_i, New.

intimate the current status of the case. sh' Anshul Rawat, Advocate vide e-ma dated o4.o9.zozo has informed that in the CIRP process of M/s Shree Bhomika International Ltd, pending before NCI_i, New. Delhi, the total accepted Resolution plan amount is Rs 4.5 crore and oui which IDBI Bank will get Rs. 4 crores against their claim of Rs. 325 crore and NSEZ i#;;;;;;;;; disbursed after NCLT, New Delhi's appror.al. Hon'ble NCLT, New Derhi'ide order dated o5.ro.zozo passed the resolution pran strbmitted by resolution Applicant of Shree Bhomika International Ltd. i.e. M/s. Commodities Trading. An application was filed by NSEZ to contest for their rejected claim of Rs.5.79 Crore- Hon'ble NCLT dismissed the appeal filed by NSEZ for dismissal of NCLT order dated o5.ro.zozo in the matter of Shree Bhomika Internationar Ltd. vs stressed Assets Stabilisation Fund. M/s' commodities Trading has deposited an amount of Rs. 50 lacs in NSEZ Authority account as per NCLT order dated o5.to.zozo. Lease rent amounting to Rs.7,o3,79,oo9/_ is outstanding upto 3r.rz.zozo in respect of Plot No. 59-I, NSEZ. fh-ere a1e no outstanding customs dues and labour dues against the unit as informed by Customs Wing and Labour Department. An email dt. 17.ro.2o23 recei'ed from M/s Surana and Surana regarding abo'e mentioned matter. The said legal firm has forwarded copy of Order passed by NCLT, New Delhi. The said order has been examined as under: - xYl x:ll. xvlll xlx xxI. xxlI. xxln xxlv xx'. xxvl xxvll. Page tZ of 23

ter. The said legal firm has forwarded copy of Order passed by NCLT, New Delhi. The said order has been examined as under: - xYl x:ll. xvlll xlx xxI. xxlI. xxln xxlv xx'. xxvl xxvll. Page tZ of 23

xxvlu. "...Considering the lack of a stay order and the circumstances, the court directed the Respondent to grant all approvals and renewals as per the approved Resolution Plan dated o5.1o.2o21, declaring the Resolution Plan of M/s Commodities Trading as approved by this Hon'ble Adjudicating Authoritl, in the CIRP of the Corporate Debtor as binding on the Respondent under Section 3r ofthe Code. Consequently, IA-26J712022 was allowed" Surana & Surana l,egal Opinion: "Considering the aboue referred points and order dated ot.o6.zoz3 passed by the Hon'ble Notional Company Law Tribunal, New Delhi. We are of the opinion that since the Hon'ble NCLT, New Delhi has approued the Resolution plan uhich mentions- "1o.9. Exemptionsfrom Noida Special Economic Zone (NSEZ): There should be exemption of paAment to the NSEZ of any types of fees/penaltg for reneual of the sublease and/or transfer charges due to change in too% directorship/shareholding or both in fauour of resolution applicant irrespectiue of the fact that the original Allottee has obtained completion certificate or not." Therefore, NSEZ should approue their application/request for reneual and/or fi'ansfer. Aside, since the case is pending and the aboue refened clause to.g of the Resoluhon plon has already been challenged along uith other disputes before the Hon'ble Supreme Court of India.

or fi'ansfer. Aside, since the case is pending and the aboue refened clause to.g of the Resoluhon plon has already been challenged along uith other disputes before the Hon'ble Supreme Court of India. This issue can again be raised at the time of hearing before the Hon'ble Supreme Court of India." 2. Proposal submitted by M/s. Shree Bhomika International and consideration try Approval Committee: - M/s Shree Bhomika International Ltd. submitted a proposal for broad-banding, renewal of LOA, and lease deed for Plot No. 59-I in NSEZ. The proposal includes warehousing sen'ices for textiles and other OGL products and software design activities. The promoters, experienced in warehousing and software exports, explained their plan during the Approval Committee meeting on 15.05.2024, stating that legal formalities for the takeover of the sick unit by M/s. Commodities Trading a warehousing unit in Kandla SEZ, are ongoing. "2.9 Shri Deuendra Bansal, partner of M/s. Commodities Trading appeared before the Approual Committee and explained the proposal. He informed that Page 13 of 23 The proposal was placed before the Approval Committee in its meeting held on tS/oS/2024. The decision ofApproval Committee is reproduced as under:

lained the proposal. He informed that Page 13 of 23 The proposal was placed before the Approval Committee in its meeting held on tS/oS/2024. The decision ofApproval Committee is reproduced as under:

they were running a uarehousing unit in Kandla SEZ for man1 Aears successfullg. He also informed that preuiously they were also running ,i fOU i, the name of M/s DigisoJt Outsourcing for etport if softwore ,nd opirations but the said Eotl are nou closed. He informed the Approuat committie that appear fi.Ied before the rlon'bre NCLT/NCLAT fu NsEi euthoriry had arr"ad.y'L"", drsmissed and they are u-taiting for reuiual of project in NSEZfor last foui years. Ilefurther informed that as of nou the apprication for LoA reneuar/ amendment etc in respect of instant proposal had been sign-ed by him in the capacity of portner of commodities Trading which has taken ouer M/s. shree Bhomika International Ltd. bg tuay of reuiuar plan approued by Hon'bre NCLT. Howeuer, they uere in the process of compretion of M CA formariiies reg. chang e in directors and shareholding and shall submit the necessarg tlocuments to NSEZ at the earliest. 2'1o It wosfurther infonned that Rure 7z of sEZ Rules, zoo6 prouides as under: "(t) A unit uthich has been decrared sick by the appropriate authority shalr submit reuiual p<tckage through Deueropment cimmissioner to noid for consideratton and the Board.

zoo6 prouides as under: "(t) A unit uthich has been decrared sick by the appropriate authority shalr submit reuiual p<tckage through Deueropment cimmissioner to noid for consideratton and the Board. shall consider the extension in the period for fulfillment of Positiue Net troreign Exchange for a further perio'd up i ct maximum of fiue yenrs at lhe preualent norms. (3) _In case a netu entity is tu ting to take ouer arl the assets and liabilities of a sick unit, transfer olf suc/r ossets and riabilities as prouided under sub-rure (t) shall be considered by the Board.,, z.t t The Approual Committee uent through the case history, application submitted by the resolution applicant, prouisions of Rule 7z oy SiZ nuls, zool, informal inputs of the legalfirm and after due deliLerations, directed. the unit to submit the follotuing : (i) clear & complete details of proposetr authorized operations giuing therein description and B-digit HS code as per ITC HS crassifi.catio, ,oi, in iespect of proposed warehousing goods amj CpC code of propoied seruices. (ii) _Clear projections of exports, forex outgo,- NiE Earnings, imported & indigenous capital goods, rau materiars, input seruices etc. in Form-Ft along with Board Resolution in fauour of authorised signatory of the Company. (iii) Complete and updated. details of directors & shareholding pattern of M/s Shree Bhomika International Limited including ut.r.t. compliance uith Page 14 of 23

uthorised signatory of the Company. (iii) Complete and updated. details of directors & shareholding pattern of M/s Shree Bhomika International Limited including ut.r.t. compliance uith Page 14 of 23

MCA formalities (before and after change in directors consequent upon taking ouer this sick company by M/s. Commodities Tradins). (A) The unit in compliance with UAC decision vide its letter dated 2glo;l2o24 has submitted following: (i) That proposed amendment in authorized operations as under: "(A) Warehousing Seruices Actiuity as per Rule t9(fl and Rule 76 of the SEZ Rules, zoo6. List of proposed products (56 items) for u:arehousing has also been giuen. (B) Computer Software Deuelopment and Information and Technology Enabled Seruices (BPO and KPO Seruices)" (ii) Clear projections of exports, forex outgo, NFE Earnings, imported & indigenous capital goods, raw materials, input services etc. in Form-Fr have not been given. Instead, unit has stated that they do not have online access to submit Form-Fr as they do not have renewed LOA and their operations were discontinued in zooz. (iii) As regards complete and updated details of directors & shareholding pattern of M/s. Shree Bhomika International Limited, unit has stated that they are in process of completing take over process with ROC and all their approvals are pending with Regional Director, ROC, Delhi which they are expecting to be completed very soon. They shall submit the same as soon as it is completed. (iv) It has further been stated that M/s. Commodities trading has taken over 1oo% shareholding of M/s.

are expecting to be completed very soon. They shall submit the same as soon as it is completed. (iv) It has further been stated that M/s. Commodities trading has taken over 1oo% shareholding of M/s. Shree Bhomika International Limited under Indian PaBe 15 of 23 2.12 The Approual Committee farther directed. the Project Diuision, NSEZ that on receipt of reply/documents from the unit, the proposal may be examined on file for forutarding the same to DOC with a UAC recommendation for reuiual of LOA in terms of Rule 7z of SEZ Rules, zoo6 for supplu of seruices related to Designing of Textile related softtuare & other softutares related to all other industries. Further, IIAC directed to take o report from KASEZ regarding track record of the unit on warehousing, including any uiolatiorts of SEZ Act, Rules, Customs Act and FTP. It ttas also directed by the Committee that facts of NCLT approued Resolution plan along uith disputes related to exemption from payment to the NSEZ Authority of any types of fees/penalty for reneutal of the sublease and/or transfer charges due to chanqe in rco% directorship/shareholding or both o.nd appeol Jiled by NSEZ Authoritg before the Hon'ble Supreme Court, may also be inforrned to DOC." B. Details/information received from M/s. Shree Bhomika International in comoliance to decision of Aoproval Committee: -

Z Authoritg before the Hon'ble Supreme Court, may also be inforrned to DOC." B. Details/information received from M/s. Shree Bhomika International in comoliance to decision of Aoproval Committee: -

Bankruptcy Code zor6 Scheme of Govt. of India and Partners of M/s. Commodities Trading shall hold the shareholding as per partnership share in Commodities Trading. (B) 'taking into account incomplete reply submitted by applicant and the alleged violations by the applicant firm/promoters, as reported by Kandla SEZ/Customs, the unit vide NSEZ letter dated o3/to/2o24 \4'as again requested to provide complete reply along with additional information. (C) The unit in reply to NSEZ letter dated o3lro/2c.24 vide its letter dated zt'ltolzoz4 has submitted its reply as under: [treply ery Proposed authorized operations EmplolT nent envisaged, Men - 35 Women - 15 Projections of Investment/ Procurement during a block of five years o.oo alues in Rs. Lakhs mport o.oo Capital ods o.oo aterial 797.99 digeno rt orex 1st 1Bo.oo .9o 2nd 52.OO t.26 BB.oo 7.44 24.OO 7.62 6o. oo 1.8o otal t4o4.oo 7.O2 alues in lls. Lakhs ear Outgo rh rSg6.98 779.7O 25ro.74 z86.S6 2238 5B.zo or,l .) armngs Projections of export/forex outgo/NFE F)arnings for five-year block periorl nit has submitted copy of Form-Ft showing followin per separate details submitted, forex outgo have been shown against 'Foreign Travel' etails: (i) Signed copy of Form-Fr duly filled in all respects er format of Form-F ttached. above.

howing followin per separate details submitted, forex outgo have been shown against 'Foreign Travel' etails: (i) Signed copy of Form-Fr duly filled in all respects er format of Form-F ttached. above. Besides, unit has also submitted list of capita oods for the values proposed in Form-Fr. ii) Clear year-wise rojections of exports, fore utgo, NFE Earnings, ported & indigeno Page 15 of 23 IT/ITES Services

apital goods, ra materials, input senrl tc. physically (since nline login ID is no vailable) in Fr format dul nk signed by authorize gnatory of M/s Bhomika, or next fir.e years. (iii) Board Resolution in favour of authorised signatory of the Company Board Resolution in favour of Mr. Rakesh Trikha has been given. However, Form-F r has been signed by Mr. DevendraPramod Bansal, Director (iv) Details of cases/ investigations currently going on against applicant M/s Commodities Trading by Kandla SEZlCustoms and I or any other authority, if any. Unit has stated as under: l that M/s. Commodities Trading are a unit having LOA for warehousing operations at Kandla SEZ from Year eor3 and achieved NFE ofRs. 17.67 Crores until 3r.o3.zoz4. They are a law-abiding entity having a clean and unblemished track record of compliance and have ner.er been penalized under any Indian larv for the time being in force, since commencement of our operations in the Kandle SEZ. z.

having a clean and unblemished track record of compliance and have ner.er been penalized under any Indian larv for the time being in force, since commencement of our operations in the Kandle SEZ. z. Of late however, they have been named as a co-noticee in the SCN No.GEN/ADJ/COMM/26912o24-Adjn-Olo Commr-Cus-Kandla dated 28/0912024, issued by the Commissioner of Customs, Kandla to some of their DTA clients in a case of duty evasion investigated by the DRI. 3. That they are denying and contesting all the allegations raised against them in the said SCN and they are in the process of preparing and submitting a detailed reply to each and every allegation levelled in the said SCN and all the penal actions proposed in the said SCN are liable to be dropped in view of the fact that the investigating agency, the DRI, has not adduced any material evidence of their involvement in the case of alleged duty evasion by some of their DTA clients and there has been no contravention of any provision of law' either under SEZ Act, 2oo5 or the Customs Act, 1962. 4. Be that as it may, it is a settled and well recognised lalv that a Show Cause Notice per se cannot form a basis for deprir'-ing the noticee of any rights to which he is entitled to until the charges have been proved and confirmed by way of an adjudication order issued by the competent authority. This legal principle has been laid down by the Apex court in Page 17 of 23

tled to until the charges have been proved and confirmed by way of an adjudication order issued by the competent authority. This legal principle has been laid down by the Apex court in Page 17 of 23

tena of cases. In suppoft of their contention, unit ha entioned some cases related to other parties. . Unit has further submitted that a pending SCN canno orm a Sround for denial of a benefit unless the charges ar roved and confirmed by the Jurisdictional adjudicati uthoritv (r,) Details of directors & shareholding pattern of M/s. Shree Bhomika International Limited prior to and updated after its taking over by M/s Commodities Trading, including status of compliances of formalities u,ith Ministry of Corporate Affairs. nit has enclosed list of Directors of M/s. Shree Bhomi International as per MCA as under: (i) Mrs. Bina Sharma (ii) Mr. Hare Krishan (iii) Mr. Basant Sen Sharma (iv) Mrs. ShaliniDevendra Bansal 02/04/2o24) (v)Mr. Shravan Jorabhai Prajapati 02/04/2o24) (vi) Mr. Devendra Pramod Bansal oz/o4/ zoz4) Unit has stated that MCA is in process of retiring Ol Directors (i) Bina Sharma, (ii) Hare Krishan and (iii) Basan Sen Sharma as per NCLT order. Unit has stated that all Shares of neu,lv reconstitut company are with partners of Commodities Trading and n even a single share is on'ned by any old directors.

i) Basan Sen Sharma as per NCLT order. Unit has stated that all Shares of neu,lv reconstitut company are with partners of Commodities Trading and n even a single share is on'ned by any old directors. Details o current shareholding pattern as on 31/03/2024 has been Unit has also submitted old shareholding pattern of the ompany as on 30 log/2C14 consisting of z9 shareholders. ven as under: ame of shareholder shareholding Devendra Pramod Bansal Z.60% ok Kumar Agarwal O.1O%o Shalini Bansal r.o096 anish Bansal 7.oo% O.7OYo sha Agarwal O.7OYo hweta Agarwal O.lOo/o ilesh Ashok Agarwal otal IOOYo 0u.e.f. (ta.e.f. (w.e.f. (r'i) Complete details of LOA in respect of your firm which was registered as EOU, including details of Unit has submitted details of firm which was registered as EOU as udner: "Digisoft Outsourcing" a partnership firm with partners as Devendra Pramod Bansal (5o%) and Pramod Radheshyam Paee 18 of 23

urisdictional DC, SEZ from Bansal (So%) was issued LOA No. here the LOA was issued. 'fPI(]/FIXIM/S/5991DgO13646 dated zr-Jul-zoo9 fo Details of violations of FTP ff/l'f l.l,S Services (BPO and KPO senices) from Softwa provisions by the said firm, echnology Park of India, Infocity Complex, Gandhinagar, if any, may also be shared. ujarat by the Director - Mr. Ajay Sharma onzrloTlzoog. ere were no violations of the FTP bv the said firm an CNCC Final Debonding letter No TPIG/EXIM/S/S99lDSO/FD/3485 $'as issued by the sai ffice. nit has also submitted copy of LOA, Final Debonding letter PR filed by them for above said STPI unit. 4.

m an CNCC Final Debonding letter No TPIG/EXIM/S/S99lDSO/FD/3485 $'as issued by the sai ffice. nit has also submitted copy of LOA, Final Debonding letter PR filed by them for above said STPI unit. 4. Legal and Procedural Updates regarding Resolution Plan received by NSEZ: - (A) An email dated o7.rr.zoz4 was received from Manish Asarwal. Resolution Professional for Shree Bhomi k:r ln crn n Limited conle the dismissal of Civil l1 Aooeal No. qq18-qolq /zozz bv the Hon'ble Suoreme Court of India, as per the iudsment dated os.n.zoza. Mr. Agarwal has reiterated his request for expedited processing ofthe Renewal of l€tter of Permission and Broad Banding Permission, which tvas preriously applied for bv the Resolution Applicant. He urged to facilitate these approvals to renew the kase Deed for Plot No. 59-l within NSEZ and complete the handover of the premises to the Resolution Applicant. Additionally, Mr. Agarv*'al mentioned that M/s Commodities Trading, the Resolution Applicant, had made a palrnent of INR 5o lakh to NSEZ on 26.10.2o2o and substantial payments to IDBI Bank on 28.1o.2o2o. He emphasized that these pal,rnents were made almost four years ago and requests the authorities' cooperation in concluding the necessary formalities. (B) In this matter Legal opinion from M/s Surana&Surana and YP (tegal) have been obtained: - A. Legal Opinion provided by Mr. Anshul Rawat from Surana&Surana International Attorneys Delhi: "We haue gone through the attached order.

n from M/s Surana&Surana and YP (tegal) have been obtained: - A. Legal Opinion provided by Mr. Anshul Rawat from Surana&Surana International Attorneys Delhi: "We haue gone through the attached order. As the order does not fauour NSEZ, you tuould haue to complA uith Hon'ble NCLT's order for transfer procedure. Lloweuer, tue wish to update, while admitting the SLP the Hon'ble Supreme Court hod categorically considered our argument that: a. the clause to.9 of the Resolution plan tuhich sates: "1o.9. Exemptions from Noida Special Economic Zone (NSEZ): There should be exemption of payment to the NSEZ of anA tgpes of fees/penaltg for reneutal of the sublease and/or tronsfer charges due to change in too% Page 19 of 23

directorship/shareholding or both in fauour of resolution applicant irrespectiue of the fact that the original Allottee has obtained completion certificate or not" b. The clause to.9 of the approued Resolution PIan uas not in conformitA Llith Section 3o(z) (e) of the Insoluencg and BankruptcA Code, zot6.

inal Allottee has obtained completion certificate or not" b. The clause to.9 of the approued Resolution PIan uas not in conformitA Llith Section 3o(z) (e) of the Insoluencg and BankruptcA Code, zot6. Additionally, Transfer charges (exempted as per clause to.g of the resolution plan) are the future charges and cannot be considered arul couered under principle of clean slate: The clean slate theory in Insoluency and Bankruptcy refers to a prouision in IBC, 2016, encoded etplicitly in section 3t, according to this clean slate theory, once an approued resolution plon is in place, it is biruling on aII stakehold.ers, preuenting past claims from resurging and prouiding a fresh start for the debtor without the burden ofpast liabilities. Hou.teuer, the transfer charges are future liability and could not haue been considered and exempted At)ithout NSEZ's permission) in the resolution plan. In uiew of the aboue NSEZ may trA contesting the fi.nal Judgment passed by the Hon'ble Supreme Court of India dated 05.11.2024 by filing a reuieu petition before the Hon'ble Supreme Court of India. Further, there arc fetu grounds for seeking a reuieu of a Supreme Court's Judgment: a. the discouery of neu c:nd tnportant lrl.o.tter or euidence which, after the exercise of due diligence, taos not u)ithin the knowledge of the petitioner or could not be produced by him; b. mistake or error opporent on the face of the record; or c.

or euidence which, after the exercise of due diligence, taos not u)ithin the knowledge of the petitioner or could not be produced by him; b. mistake or error opporent on the face of the record; or c. any other sufficient teason: - "any suJficient reason" meons a reason that is analo.tlous to the other tuo grounds. Keeping the aboue in mind, exetnpting the future c/oims ospost claims under the pinciple of clean slate, seems to be an et ror apparent on the face o.f it. Also please note- the present reuiew petition (iffiled) uould be an uphill task, also the same utould be heard through circulation bg judges in their chambers, and not in en open court," B. Legal Opinion provided by Sonakshi Gandotra, Young professional Legal: "Background: The Hon'ble Supreme Court's judgment dated 05. j1.2o24 dismissed NSEZ's appeal against the approued Resolution plan for Shree Bhomika International Limited. The ruling emphasiz.ed the ouerriding effect of the Insoluency and BankruptcA Code, 2oi6 (IBC), ouer other stotutes, inctuding the SEZ Act, zoo5 under Section z3B of the IBC. This section stltulates that IBC prouisions take precedence ouer any other conJTicting laws, thereby rendering the Resolution Plan supreme once it has been approued by the Adjudicatino Authority. Page 20 of 23

n stltulates that IBC prouisions take precedence ouer any other conJTicting laws, thereby rendering the Resolution Plan supreme once it has been approued by the Adjudicatino Authority. Page 20 of 23

Keg Judgrnent Obseruations Releuanrt to NSEZ's Claim for Transfer Chan ges: t..Ouerriding Effect of IBC: The Court held that the IBC prouisions, once a Resolution Plan is approued, ouerride ang conflicting claims under other laus, including SEZ regulations. This ruling effectiuely confirms thot stotutory dues, renewalfees, or transfer charges mandated by the SEZ Act or othq regulations are unenforceable if they conflict with the terms of an approued Resolution PIan under the IBC. By uirtue of Section 238 of the IBC, the Code is giuen en ouerriding efJect, allouing the Resolution Plan to take precedence ouer other statutory claims, limiting the enforceability of such claims once the Plan is approued. z. Non- Justiciability of Committee oJ Creditors (CoC) Decisions: '[he Supreme Court reaffirmed the paramount importonce of the CoC's commercial judgment, emphasiz.ing that the CoC's decisions are non-justiciable. Once the CoC, after deliberation, approues a Resolution Plan, its terms are binding and final, effectiuely excluding stotutorA dues that tDere not etpressly included in the Plan. This decision underscores that the commercial uisdom o.f the CoC cannot be challenged in relation to stotutory dues, including NSEZ's transfer charges, if these charges uere not explicitly addressed uithin the Resolution PIan. 3.

the commercial uisdom o.f the CoC cannot be challenged in relation to stotutory dues, including NSEZ's transfer charges, if these charges uere not explicitly addressed uithin the Resolution PIan. 3. Extinguishment of NSBZ's Claims.. Opinion: Page 21 of 23 Thejudgmenl clearly indicates thet onA statutory or regulatory dues that are not incorporoted in the approued Resolution PIan, such as NSEZ's cloims for transfer fees or renewal charges, are extinguished upon the Plan's approual. The Court affirmed that an approued Resolution Plan prouides a full and final frametuork for payments to creditors and stakeholders, leauing no room for additional claims or charges post-approual. This interpretation confirms that any claim not listed in the Plan, including SEZ-related charges, is considered settled and unenforceable once the PIan becomes effectiue. Based on the Supreme Court's recent judgement, it is unlikely that NSEZ's claim for transfer charges uill hold legal standing. The Insoluency and Bankruptcg Code (IBC) prouisions are binding on all stakeholders, including statutory authorities like NSEZ. Under this judgment, anA NSEZ claims for transfer fees,

egal standing. The Insoluency and Bankruptcg Code (IBC) prouisions are binding on all stakeholders, including statutory authorities like NSEZ. Under this judgment, anA NSEZ claims for transfer fees,

renewal charges, or other sEZ-related dues that were not expressly includ.ed. in the approued Resolution PIan are now considered extinguished. It is recommended. that NSEZ align with the Supreme Court,s judgment, recognizing that the Resolution Plan gouerns all dues payable. Any further attempt to pursue transfer charges would likely be d.eemed incompatible uith the IBC'sframework, which supet,sedes the SEZ Act through the authoritA of Section 48. In light of the Supreme Court's findings, NSEZ should consider the matter of transfer charges asfully settled within the terms of the approued Resolution plan. Further attempts of fiIino a reuieta petition to recouer these charges may likely result in dismissal, giuen the I BC's ouerriding efJbct and the binding nature of the Resolution Plan. Moreouer, non-compliance with proceedings." the judgment coulcl lead to contempt From the above, the following have been observed by DC, NSEZ: - (i) That the unit has submitted the details as directed by the Approval committee dated r5.o5.zoz4 and proposed IT/ITES (tuithout CpC Code) as Authorized operations. (ii) The antecedents of commodities Trading have been verified from KASEZ wherein they ha'e been issued a scN as co-noticee. The Adjudication is under process. (iii) civil Appeal No.

ized operations. (ii) The antecedents of commodities Trading have been verified from KASEZ wherein they ha'e been issued a scN as co-noticee. The Adjudication is under process. (iii) civil Appeal No. s9r8-5919/zozz filed by NSEZ Authority has been dismissed by the Hon'ble Supreme Court of India, as per the judgment dated c,5.71,.2cr24. (iv) Legal opinions from Legal lrirm and yp Legal have been received. It appears that the chances of getting favourable order in review petition are rare. The decision on filing an appeal may be taken in due course as per the given timelines. (v) The Approval committee in its meeting held on r5lo5lzoz4 had directed the Project Dir.ision, NSEZ that on receipt of reply/ documents from the unit, the proposal may be examined on file for forwarding the same to DOC with a UAC recommendation for revival of LoA in terms of Rule 7z of sEZ Rules, zoo6 for supply of services related to Designing of Textile related software & other softuares related to all other industries. Paee 22 ot 23 Relevant rule position: -

terms of Rule 7z of sEZ Rules, zoo6 for supply of services related to Designing of Textile related software & other softuares related to all other industries. Paee 22 ot 23 Relevant rule position: -

Rule 7z: Revival of sick Units: (t) A unit uhich has been declared sick by the appropriate authorifu shall submit a reuiual package through Deuelopment Commissioner to Board for consideration and the Board shall consider the extension in the period for fulfilment of Positiue Net Foreign Exchange for afurther period up to a marimum offiue years at the preualent norms. (z) On extension of the period, unutilized rau material and imported or domestically procured capital goods shall be alloued to be cctrried foruerd at their original ualue and the Bond-cum-Legal Undertaking executed by the unit shall be reuised accordingly. (3) In case a netD entitA is uilling to take ouer all the assets and liabilities of a sick Unit, transfer ofsuch ossets and liabilities as prouided under sub-rule (t) shall be considered by the Board. G) Where a Unit is gronted extension of period for fulfilment of Positiue Net Foreign Exchange Earning under sub-rule (t), the space would continue to be in its possession. (d Where a Unit is taken ouer by another unit, the liabilitg sho// pass on lo the neu unit uhich is taking ouer the sick unit. Recommendation by DC, NSEZ: In view of above, the complete facts of the proposal of M/s.

is taken ouer by another unit, the liabilitg sho// pass on lo the neu unit uhich is taking ouer the sick unit. Recommendation by DC, NSEZ: In view of above, the complete facts of the proposal of M/s. Shree Bhomika International Limited for revival of LOA are forwarded herewith with the recommendation of the Approval Committee, NSEZ for rel'ival of LOA in terms of Rule 7z of SEZ Rules, 2006 for IT/ITES Services. Page 23 of 23