IN FORCE SEZ / EOU / FTWZ

Minutes of the 78th meeting of the BoA for SEZ held on 3rd July, 2017

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Minutes of the 78" meeting of the Board of Approval for SEZ held on 3"¢ July 2017.

The Seventy Eighth (78"") meeting of the Board of Approval (BoA) for Special Economic Zones (SEZs) was held on 3"! July, 2017 under the Chairpersonship of Ms. Rita Teaotia, Secretary, Department of Commerce, at 11.00 A.M. in Room No. 143, Udyog Bhawan, New Delhi. The list of participants is Annexed (Annexure-1). Item No. 78.1: Requests for extension of validity of formal approvals (12 proposals) as under:BoAin its meeting held on 14 September, 2012, examining similar cases observed “The Board advised the Development Commissioners to recommend the requests forthatextension offormal approval beyond 5" year and onwards only after satisfying the developer has taken sufficient steps towards operationalisation of the project andfurther extension is based on justifiable reasons. Board also observed that extensions may not be granted as a matter ofroutine unless some progress has been made on ground by the developers. The Board, therefore, after deliberations, extended the validity of the formal approval to the requests for extensions beyond fifth years for a period of one year and those beyond sixth yearfor aperiod of 6 monthsfrom the date ofexpiry oflast extension”. (i) Request of M/s. HBS Pharma SEZ Pvt. Ltd., for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for Pharmaceuticals16-06-2017.

extension”. (i) Request of M/s. HBS Pharma SEZ Pvt. Ltd., for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for Pharmaceuticals16-06-2017. at Panoli Industrial Estate, District Bharuch, Gujarat beyond 16" June,The2018.Board, after deliberations, extended the validity of the formal approval up to (ii) to (ix) Further extension of the validity period of formal approval, granted for setting up of eight by M/s. Navi Mumbai SEZ Pvt. Ltd as in agenda item no. 78.1 (ii to ix)

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26" The Board was apprised that extension of the validity of the formal approval up to February, 2016 in respect of two of the eight above SEZs (SI.No. IV & V) were approved by the BoA in its 65" meeting held on 19™ May, 2015 with the condition that the Developer shall furnish necessary clarifications to the State Government of Maharashtra on the issues raised by it. Further, the Board had earlier extended the validity of the formal approval in respect of three of the above eight SEZs (SI. No II, III & VI) up to 29" January, 2016 & 25" January, 2016 with the condition that the Developer shall submit a clear-cut development plan and action plan of the SEZ and approval of the State Government of Maharashtra within that time-frame. DC, Navi Mumbai SEZ was directed to verify the expenditure claimed by the developer to have incurred for the development of these SEZs alongwith progress made on ground.

shtra within that time-frame. DC, Navi Mumbai SEZ was directed to verify the expenditure claimed by the developer to have incurred for the development of these SEZs alongwith progress made on ground. The Board was also apprised that the PAC and CAG had observed that M/s Navi Mumbai SEZs in Maharashtra were granted routine extensions even though the Developer had not complied with the conditions attached to the approval. The Board further noted that neither the Developer nor the Government of Maharashtra had come

forward with concrete development plans. It was informed that a letter no BOA-2017/CR 78/Ind-2 dated 30.6.2017 has been received from Shri Sanjay Degaonkar, Joint Secretary, Industries, Energy& Labour Department, Government of Maharashtra stating that Government of Maharashtra is in receipt of application from NMSEZ for extension of 8 SEZs and Government of Maharashtra, CIDCO and NMSEZ are in process of resolving certain operational and regulatory issues. The process may take some more time and hence, the case may be deferred. In view of the fact that the issue has been pending since 2015, the Board after deliberations, decided to allow the Government of Maharashtra up to 30.08.2017 to resolve the operational and regulatory issues with the developer and inform the Board of its decision by that date failing which the SEZs would automatically stand de-notified.

up to 30.08.2017 to resolve the operational and regulatory issues with the developer and inform the Board of its decision by that date failing which the SEZs would automatically stand de-notified.

(x) Request of M/s. GOCL Corporation Limited (Formerly Gulf Oil Corporation Ltd.) for further extension of the validity period of formal approval, granted for setting up of IT/ITES/BPO/Electronic Hardware SEZ at Kattigenahalli & Venkatala Villages, Yelahanka Hobli, Bangalore, Karnataka beyond 17" June, 2017 17" June,The2018.Board, after deliberations, extended the validity of the formal approval up to (xi) Request of M/s. Mayar Infrastructure Development Pvt. Ltd. for further extension of the validity of formal approval, granted for setting up of Biotechnology beyondSector Specific13.07.2017. SEZ at Village Rahka and Nimoth, Tehsil Sohna, Gurgaon (Haryana)

13" July,The2018.Board, after deliberations, extended the validity of the formal approval up to

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ions, extended the validity of the formal approval up to

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(xii) Request of M/s. Metro Valley Business Park Pvt. Ltd. for further extension of the validity of formal approval, granted for setting up of IT/ITES SEZ at 5" milestone, Village Gwal Pahari, Gurgaon-Faridabad Road, Distt. Gurgaon (Haryana) beyond 05.05.2015. The representative of Government of Haryana informed that the Government of Haryana had approached the A.G. for legal opinion in the matter and therefore, requested for deferment of the proposal. It was observed that as per earlier dated 28.12.2016, Government of Haryana had conveyed that as per orders of Hon’ble CM Haryana, all the lapsed permissions pertaining to the SEZ may be restored afresh with a minimum validity period of 3 years, so as to ensure that the project is implemented in a time bound manner. Further, vide letter dated 7.3.2017, Director of Industries and Commerce, Govt of Haryana asked the developer to submit revised undertaking towards implementation of the SEZ project at own tisk and costs, within 7 days, failing which recommendation to Gol for extension of 3 years shall be withdrawn. Director, Industries confirmed that the undertaking from the developer has been received. Nevertheless, in view of the decision by Government of Haryana to seek the opinion of A.G. in the matter, he requested that proposal may be deferred.

undertaking from the developer has been received. Nevertheless, in view of the decision by Government of Haryana to seek the opinion of A.G. in the matter, he requested that proposal may be deferred. In view of the request of the State Government, the Board allowed time up to 31.07.2017 to the State Government for inputs if any, on the proposal to the Board.

Item No. 78.2 Requests for extension of LoP beyond 3" Year onwards (6 proposals)

e As per Rule 18(1) of the SEZ Rules, the approval Committee may approve or reject a proposal for setting up of Unit ina Special Economic Zone.

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¢ Cases for consideration of extension of Letter of Permission (LoP)s i.r.o units in SEZs are governed by Rule 19(4) of SEZ Rules.
¢ Rule 19(4) states that an LoP shall be valid for one year. First Proviso grants power to DCs for extending the LoP not exceeding 2 years. Second Proviso grants further power to DCs for extending the LoP for one more year but 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.
e Extensions beyond 3 year (in cases where two-third activities are not complete) and 4"" year are granted by BoA.
¢ BoA can extend the validity for a period of one year at a time. ¢ There is no time limit up to which the Board can extend the validity

ities are not complete) and 4"" year are granted by BoA.

¢ BoA can extend the validity for a period of one year at a time. ¢ There is no time limit up to which the Board can extend the validity

for (i) Request of M/s Lanco Solar Private Ltd in M/s Lanco Solar Pvt. Ltd SEZ 28.06.2018.extension of Letter of Approval beyond 28.06.2017 for a period of one year upto

The Board, after deliberations, extended the validity of the LoP up to 28" June, 2018. (ii) | Request of M/s PreciStat IT Solutions Pvt. Ltd. for extension of Letter of Permission (LoP) beyond 31.05.2017 for a period of one year upto 30.05.2018.

The Board, after deliberations, extended the validity of the LoP up to 30" May, 2018. (iii) Request of M/s. KPIT Technologies Ltd., in the Pune MIDC SEZ for extension of Letter of Approval (LOA) beyond 28.06.2017 for 1 year up to 28.06.2018. The Board, after deliberations, extended the validity of the LoP up to 28" June, 2018. (iv) Request of M/s. Biomedical Life Sciences Private Limited in the Zydus — Pharmaceutical-SEZ, Matoda, Ahmedabad for extension of Letter of Permission (LOP) beyond 23-06-2017 for 01 (one) year more upto 23-06-2018. The Board, after deliberations, extended the validity of the LoP up to 23" June, 2018. (v) Request of M/s. Bremels Rubber Industries Private Limited in the ASPEN SEZ (Formerly Synefra SEZ) Palimar, Nandikaur Village, Padubidri, Udupi Taluk, Karnataka for extension of Letter of Permission (LOP) beyond three years up to 25.06.2018. The Board, after deliberations, extended the validity of the LoP up to 25" June, 2018.

dubidri, Udupi Taluk, Karnataka for extension of Letter of Permission (LOP) beyond three years up to 25.06.2018. The Board, after deliberations, extended the validity of the LoP up to 25" June, 2018. of (vi) Request of M/s. Dr. Reddy’s Laboratories in the VSEZ SEZ for extension Letter of Permission (LoP) beyond 07.06.2017 for a period of one year upto 07.06.2018. The Board, after deliberations, extended the validity ofthe LoP up to 7"“oe

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Item No. 78.3 Requests for co-developer (3 proposals) (i) Request of M/s. GAR & Son Builders LLP for co-developer in the sector specific SEZ for IT/ITES at Sy. No. 107, Kokapet Village, Gandipet Mandal, Ranga Reddy District, Telangana being developed by M/s. GAR Corporation Pvt. Ltd. LLP After deliberations, the Board approved the proposal of M/s. GAR & Son Builders for construction, development, investment in the development of internal and external infrastructure, leasing, operation maintenance of tower — III and Tower-IV (Total 4 towers are being developed in the SEZ, over an area of 2.63 acres of land in accordance with the codeveloper agreement entered into with the developer, subject to standard terms and conditions as per SEZ Act and Rules provided that the lease period does not exceed 30 years (Renewable).

ith the codeveloper agreement entered into with the developer, subject to standard terms and conditions as per SEZ Act and Rules provided that the lease period does not exceed 30 years (Renewable).

(ii) | Request of M/s. Felix IT Society for co-developer in the sector specific SEZ for IT/ITES at Sy No. 141 & 142, Nanakramguda Village, Serilingampally Mandal, Ranga Reddy District, Telangana being developed by M/s. BSR Builders LLP

After deliberations, the Board approved the proposal of M/s. Felix IT Society to develop the authorized operations such as interior fittings and services, entire electrification of the building, HVAC, Fire Fighting Systems and all interiors like built to suit systems which will enable Plug & Play facility and also provide 100% power back-up, uninterrupted power supply or as per the clients requirements and the co-developer shall operate and maintain in accordance with the co-developer agreement entered into with the developer, subject to standard terms and conditions as per SEZ Act and Rules provided that the lease period does not exceed 30 years (Renewable).

he co-developer agreement entered into with the developer, subject to standard terms and conditions as per SEZ Act and Rules provided that the lease period does not exceed 30 years (Renewable).

(iii) Request of M/s. Reliance Aerostructure Limited for co-developer in the multi , product SEZ at Nagpur, Maharashtra being developed by M/s. Maharashtra Airport Development Company Ltd. (MADC) After deliberations, the Board approved the proposal of M/s. Reliance Aerostructure Limited for development of Aerospace Park with related infrastructure facilities and services over an area of 104 acres in SEZ, for development, maintenance and repair of infrastructure at site including security, fire protection system, water treatment, storm drainage & sewage disposal, HVAC systems, landscaping & water bodies, housekeeping services, transport, PMC services, access control & monitoring, road network, commercial or industrial construction, advertising & marketing and other consultancy services and undertaking other authorized operations as per Instruction No. 50 in accordance with the co-developer agreement entered into with the developer, subject to standard terms and conditions as per SEZ Act and Rules provided that the lease period does not exceed 30 years (Renewable). Item No.

co-developer agreement entered into with the developer, subject to standard terms and conditions as per SEZ Act and Rules provided that the lease period does not exceed 30 years (Renewable). Item No. 78.4 : Change of Shareholding Pattern Cases (10 proposals) entity/ With a view to promote the ease ofdoing business in India and that restructuring of business is a fairly common occurrence, BOA in its 69" meeting held on 23.02.2016 decided that provisions ofRule 74A shall not apply to SEZ Units that do not exit or opt out of the SEZ Scheme by transferring its assets and liabilities to another person and the SEZ Unit continues to operate as a going concern in the situations mentioned above. The UACs concerned, may consider such requests under Rule 1 9(2) ofthe SEZ Rules, 2006.

In so far as Business Transfer Agreement is concerned, it was explained that certain acquisitions happen globally as a result of Business Transfer Agreement which result in | |Go | woei |

transfer ofthe SEZ unit ofthe Indian company on a going concern basis to the acquirer. The BOA decided that such cases resulting in change ofownership would be decided on merits by the Board ofApprovals on a case to case basis.

Proposal to incorporate the above decision of BoA in SEZ Rules, 2006 has been approved and was sent to DLA for vetting.

ld be decided on merits by the Board ofApprovals on a case to case basis.

Proposal to incorporate the above decision of BoA in SEZ Rules, 2006 has been approved and was sent to DLA for vetting.

(i) Request of M/s. AON HR Services India Pvt. Ltd., a unit in IT/ITES SEZ ofM/s. Candor Gurgaon One Realty Projects Pyt. Ltd., Village Tikri, Sector-48, Gurgaon (Haryana) for transfer of shares exceeding 50% to another entity — regarding. 50% The Board, after deliberations, approved the proposal for transfer of shares exceeding to another entity subject to following conditions:-

i) Seamless continuity of the SEZ activities with unaltered responsibilities and ii) obligations for the altered unit entity; Fulfilment of all eligibility criteria applicable to unit, including security
iii) clearances etc., by the altered unit entity and its constituents; Applicability of and compliance with all Revenue / Company Affairs /SEBI etc, etc.rules which regulate issues like capital gains, equity change, transfer, taxability
iv) Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority.
v) The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility

l have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility

vi) for deduction under relevant sections of the Income Tax Act, 1961. The applicant shall comply with relevant State Government laws, including
vii) those relating to lease of land, as applicable. The unit shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT.
viii) Meanwhile, the proposal for amendment in SEZ Rules may also be taken up by the SEZ division to bring clarity on such transactions.

(ii) Request of M/s. Moldex Composites Pvt. Ltd, Plot No.194 & 195 a unit in Surat SEZ, for transfer of shares exceeding 50% to another entity

50% The Board, after deliberations, approved the proposal for transfer of shares exceeding to another entity subject to following conditions:-

i) Seamless continuity of the SEZ activities with unaltered responsibilities and ii) obligations for the altered unit entity; Fulfilment of all eligibility criteria applicable to unit, including security clearances
iii) etc., by the altered unit entity and its constituents; Applicability of and compliance with all Revenue / Company Affairs /SEBI etc. rules which regulate issues like capital gains, equity change, transfer, taxability ete. fo.

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iv) Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT),

er, taxability ete. fo.

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iv) Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT),
v) CBDT, Department of Revenue and to the jurisdictional Authority. The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under
vi) relevant sections of the Income Tax Act, 1961. The applicant shall comply with relevant State Government laws, including those
vii) relating to lease of land, as applicable. The unit shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT.
viii) Meanwhile, the proposal for amendment in SEZ Rules may also be taken up by the SEZ division to bring clarity on such transactions.

(iii) Request of M/s. Cargill Business Services India Pvt. Ltd., a unit in DLF Cyber City Developers Ltd. ITATES SEZ at Gurgaon (Haryana) for transfer of shares exceeding 50% to another entity. 50% The Board, after deliberations, approved the proposal for transfer of shares exceeding to another entity subject to following conditions:-

i) Seamless continuity of the SEZ activities with unaltered responsibilities and ii) obligations for the altered unit entity; Fulfilment of all eligibility criteria applicable to unit, including security clearances

nuity of the SEZ activities with unaltered responsibilities and ii) obligations for the altered unit entity; Fulfilment of all eligibility criteria applicable to unit, including security clearances

iii) etc., by the altered unit entity and its constituents; Applicability of and compliance with all Revenue / Company Affairs /SEBI ete. etc.tules which regulate issues like capital gains, equity change, transfer, taxability
iv) Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT),
v) CBDT, Department of Revenue and to the jurisdictional Authority, The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under
vi) relevant sections of the Income Tax Act, 1961. The applicant shall comply with relevant State Government laws, including those
vii) relating to lease of land, as applicable. The unit shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT.
viii) Meanwhile, the proposal for amendment in SEZ Rules may also be taken up by the SEZ division to bring clarity on such transactions.

(iv) Request of M/s. R. B. Industries, a unit in Kandla SEZ for change in partnership deed and shareholding pattern

may also be taken up by the SEZ division to bring clarity on such transactions.

(iv) Request of M/s. R. B. Industries, a unit in Kandla SEZ for change in partnership deed and shareholding pattern

and The Board, after deliberations, approved the proposal for change in partnership deed shareholding pattern subject to following conditions:-

i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered unit entity; _.

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ii) Fulfilment of all eligibility criteria applicable to unit, including security clearances iii) etc., by the altered unit entity and its constituents; Applicability of and compliance with all Revenue / Company Affairs /SEBI etc. etc.rules which regulate issues like capital gains, equity change, transfer, taxability .
iv) Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT),
v) CBDT, Department of Revenue and to the jurisdictional Authority, The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under
vi) relevant sections of the Income Tax Act, 1961. The applicant shall comply with relevant State Government laws, including those
vii) relating to lease of land, as applicable. The unit shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT.

th relevant State Government laws, including those

vii) relating to lease of land, as applicable. The unit shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT.
viii) Meanwhile, the proposal for amendment in SEZ Rules may also be taken up by the SEZ division to bring clarity on such transactions.

(v) Request of M/s. Regent Ropes, a unit in Kandla SEZ for change in partnership deed and shareholding pattern and The Board, after deliberations, approved the proposal for change in partnership deed shareholding pattern entity subject to following conditions:-

i) Seamless continuity of the SEZ activities with unaltered responsibilities and ii) obligations for the altered unit entity; Fulfilment of all eligibility criteria applicable to unit, including security clearances
iii) etc., by the altered unit entity and its constituents; Applicability of and compliance with all Revenue / Company Affairs /SEBI etc. etc.rules which regulate issues like capital gains, equity change, transfer, taxability
iv) Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member 1),
v) CBDT, Department of Revenue and to the jurisdictional Authority. The Assessing Officer shall have the tight to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under

assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under

vi) relevant sections of the Income Tax Act, 1961. The applicant shall comply with relevant State Government laws, including those
vii) relating to lease of land, as applicable. The unit shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT.
viii) Meanwhile, the proposal for amendment in SEZ Rules may also be taken up by the SEZ division to bring clarity on such transactions. ;
(vi) | Request of M/s. Aksasia Creations Pvt. Ltd., a unit in Noida SEZ, for transfer of shares exceeding 50% to another entity.

50% The Board, after deliberations, approved the proposal for transfer of shares exceeding to another entity subject to following conditions:-

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1. Seamless continuity of the SEZ activities with unaltered responsibilities and ii) obligations for the altered unit entity; Fulfilment of all eligibility criteria applicable to unit, including security clearances etc., by the altered unit entity and its constituents;
iii) Applicability of and compliance with all Revenue / Company Affairs /SEBI etc. rulesetc. which regulate issues like capital gains, equity change, transfer, taxability

and its constituents;

iii) Applicability of and compliance with all Revenue / Company Affairs /SEBI etc. rulesetc. which regulate issues like capital gains, equity change, transfer, taxability
iv) Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT),
v) CBDT, Department of Revenue and to the jurisdictional Authority. The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under
vi) relevant sections of the Income Tax Act, 1961. The applicant shall comply with relevant State Government laws, including those
vii) relating to lease of land, as applicable. The unit shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT.
viii) Meanwhile, the proposal for amendment in SEZ Rules may also be taken up by the SEZ division to bring clarity on such transactions,

(vii) Request of M/s. Aries International, a unit in Kandla SEZ for change in partnership deed and shareholding pattern

and The Board, after deliberations, approved the proposal for change in partnership deed shareholding pattern subject to following conditions:-

i) Seamless continuity of the SEZ activities with unaltered responsibilities and ii) obligations for the altered unit entity; Fulfilment of all eligibility criteria applicable to unit, including security

mless continuity of the SEZ activities with unaltered responsibilities and ii) obligations for the altered unit entity; Fulfilment of all eligibility criteria applicable to unit, including security

iii) clearances etc., by the altered unit entity and its constituents; Applicability of and compliance with all Revenue / Company Affairs /SEBI etc. etc.rules which regulate issues like capital gains, equity change, transfer, taxability
iv) Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to
v) Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority. The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under
vi) relevant sections of the Income Tax Act, 1961. The applicant shall comply with relevant State Government laws, including those
vii) relating to lease of land, as applicable. The unit shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT.
viii) Meanwhile, the proposal for amendment in SEZ Rules may also be taken up by the SEZ division to bring clarity on such transactions, l= |

(viii) Request of M/s. Prasar Enterprises, a unit in Kandla SEZ for change in partnership deed and shareholding pattern

and The Board, after deliberations, approved the proposal for change in partnership deed shareholding pattern subject to following conditions:-

i) Seamless continuity of the SEZ activities with unaltered responsibilities and ii) obligations for the altered unit entity; Fulfilment of all eligibility criteria applicable to unit, including security
iii) clearances etc., by the altered unit entity and its constituents; Applicability of and compliance with all Revenue / Company Affairs /SEBI etc. rules which regulate issues like capital gains, equity change, transfer, taxability etc.
iv) Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to
v) Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority, The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under
vi) relevant sections of the Income Tax Act, 1961. The applicant shall comply with relevant State Government laws, including those
vii) relating to lease of land, as applicable. The unit shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT.

th relevant State Government laws, including those

vii) relating to lease of land, as applicable. The unit shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT.
viii) Meanwhile, the proposal for amendment in SEZ Rules may also be taken up by the SEZ division to bring clarity on such transactions.

(ix) Request of M/s. Hewlett Packard Private Limited, a unit in TRIL SEZ, Chennai for change of name to M/s. EIT Service India Private Ltd. After deliberations, the Board approved the proposal for change of name from M/s.
Hewlett Packard Global Soft Private Ltd. to M/s. EIT Service India Private Ltd. subject to following conditions:(i) | Seamless continuity of the SEZ activities with unaltered responsibilities and (ii) obligations for the altered unit entity; Fulfilment of all eligibility criteria applicable to unit, including security
(iii) clearances etc., by the altered unit entity and its constituents; Applicability of and compliance with all Revenue / Company Affairs /SEBI etc, rulesetc. which regulate, issues like capital gains, equity change, transfer, taxability
(iv) Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority.

ting to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority.

(v) The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility
(vi) for deduction under relevant sections of the Income Tax Act, 1961. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable.

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(vii) The unit shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT.
(viii) Meanwhile, the proposal for amendment in SEZ Rules may also be taken up by the SEZ division to bring clarity on such transactions.

(x) | Request of M/s Cargill Business Services India Pvt. Ltd. a unit in M/s Primal Projects Private Ltd. SEZ for transfer of shares exceeding 50% to another entity. 50% The Board, after deliberations, approved the proposal for transfer of shares exceeding to another entity subject to following conditions:-

1. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered unit entity;

of shares exceeding to another entity subject to following conditions:-

1. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered unit entity;
ii) Fulfilment of all eligibility criteria applicable to unit, including . security lii) clearances etc., by the altered unit entity and its constituents; Applicability of and compliance with all Revenue / Company Affairs /SEBI etc. tules which regulate issues like capital gains, equity change, transfer, taxability etc.
iv) Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to
v) Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority. The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under
vi) relevant sections of the Income Tax Act, 1961. The applicant shall comply with relevant State Government laws, including those
vii) relating to lease of land, as applicable. The unit shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT.
viii) Meanwhile, the proposal for amendment in SEZ Rules may also be taken up by the SEZ division to bring clarity on such transactions.

Item No. 78.5 : Miscellaneous Cases (8 proposals)

(i) Request of M/s. ZF Wind Power Coimbatore Pvt. Ltd. a unit in M/s. Aspen Infrastructures Ltd., SEZ, Coimbatore for approval of the BoA for undertaking repair/reengineering etc., of gear box units manufactured by DTA units The Board, after deliberations, observed that the proposal amounted to providing engineering, repairing services relating to third party Gear boxes for the DTA entities. It amounted to having a full-fledged engineering, repairing services unit. It was observed that if the unit wants to have a full-fledged service unit, they may apply for a separate unit for engineering, repairing services so that accounts are not mixed and NFE criteria is separately complied with by the new services unit.

(ii) Requests of M/s. Anita Exports, a unit in KASEZ for renewal of LoA for extension of recycling of plastic waste and scrap.

The Board, afterdeliberations, rejected thehe

(iii) |Request of M/s Adani Power Limited., a Co-Developer in Adani Ports and Special Economic Zone(APSEZ), Mundra for transfer of its Mundra Power Plant to its subsidiary Adani Power(Mundra) Limited. to The Board, after deliberations, decided to defer the proposal and directed DC APSEZ of ascertain whether NOC of lenders had been taken as it was noted that the proposed transfer the thermal power plant in APSEZ, Mundra with M/s. Adani Power Limited to its subsidiary was being done without transfer of liability of debt. (iv) Transfer of ownership of M/s eBay India Pvt. Ltd. a unit in Primal Project Pvt. Ltd.

Mundra with M/s. Adani Power Limited to its subsidiary was being done without transfer of liability of debt. (iv) Transfer of ownership of M/s eBay India Pvt. Ltd. a unit in Primal Project Pvt. Ltd. SEZ, Bangalore to M/s ES Online Services India Pvt. Ltd. under Rule 19 of SEZ Rules, 2006 , 74A It was pointed out that the case should be examined from the point of view of Rule | of SEZ Rules regarding transfer of assets by SEZ units upon their exit. However, it was clarified that BoA in its 69" meeting held on 23.2.2016 had observed that provisions of Rule 74A shall not apply to SEZ units that do not exit or opt out of SEZ scheme by transferring its assets and liabilities to another person and the SEZ unit continues to operate as a going concern as a result of change of name, court approved merger/demerger, slump sale, etc, and such requests may be considered by UAC. In cases of Business Transfer Agreement resulting in transfer of the SEZ units on a going concern basis to the acquirer, the proposal will be decided on merits by the BOA ona case to case basis. It was further clarified that the present proposal is for transfer of assets and liabilities of the SEZ units based on a Business Transfer Agreement wherein the software development business of ebay India (including the SEZ units) would be transferred to ES Online (a new Indian entity set up by the eBay group) on going concern basis under a slump sale arrangement along with all the assets and liabilities related to the SEZ unit. Therefore, the proposal is covered by the BOA decision.

up by the eBay group) on going concern basis under a slump sale arrangement along with all the assets and liabilities related to the SEZ unit. Therefore, the proposal is covered by the BOA decision. Therefore, the Board, after deliberations, decided to approve the proposal.

(v) Request of M/s. T&V Holdings Private Limited co-developer in the sector specific SEZ for IT/ITES at Vallancherry village, Guduvanchery, Chengalpattu TK, Kancheepuram District, Tamil Nadu, being developed by M/s. Estancia IT Park Limited for surrender of SEZ area to an extent of 1.71 hectares The Board, after deliberations, approved the proposal of M/s. T&V Holdings Private Limited for surrender of SEZ area to an extent of 1.7] hectares, and to retain 3.56 hectares of land to develop infrastructural facilities.

(vi) Request of M/s. Jubilant Infrastructure Limited a sector specific SEZ for. Chemical at village vilayat, Taluka Vagra, District Bharuch, Gujarat, for addition of area of 18.55900 hectares. The Board, after deliberations, approved the request of M/s. Jubilant Infrastructure Limited for increase in area of 18.55900 hectares, increasing the total area of the SEZ to 125.724000 hectares, subject to contiguity of the land in the SEZ being maintained. |

(vii) Appeal of M/s. Zoho Corporation Pvt. Ltd, a unit in MEPZ against order dated 18.01.2017 passed by UAC, MEPZ.

The Board took note of the minutes of the 75th meeting of BoA held on 8.03.2017 on the above subject and reiterated its decision allowing the appeal of M/s Zoho Corporation dated 4.2.2017.

MEPZ.

The Board took note of the minutes of the 75th meeting of BoA held on 8.03.2017 on the above subject and reiterated its decision allowing the appeal of M/s Zoho Corporation dated 4.2.2017.

(viii) Request of Medium Irrigation Project Division, Govt. of Gujarat, Ankleshwar for the permission of allotment of 2500 (approx) sq. mts. of land in Non processing area (Port Area) at Dahej SEZ, Dist. Bharuch for boat berthing for Narmada parikarma pilgrims. that The Board after deliberations decided to approve the proposal subject to the condition for the SEZ land (access land as well as land for proposed boat berthing facility) to be used the purpose may be de-notified. Item No. 78.6 : Cancellation of Formal Approval years In terms ofRule 6(2)(a) ofSEZ Rules, Formal Approval is validfor a period ofthree by which time at least one unit has to commence production and the SEZ becomes operational from the date ofcommencement ofsuch production. Proviso to this rule provides for extension of this Formal Approval by Board of Approval, for which the Developer will submit his application in Form C1 to the concerned DC, who shall, within 15 daysforward it to the Board with his recommendations.

of The Board after deliberations decided to cancel all those Letters of Approval, validity which had expired and the developer had not approached the Board for further extension. The State Government concerned may also be informed for recovery of any exemption availed of from the State Government on the basis of the formal approval

Item no. 78.7 Appeals before BoA (3 Appeals). .

Government concerned may also be informed for recovery of any exemption availed of from the State Government on the basis of the formal approval

Item no. 78.7 Appeals before BoA (3 Appeals). .

(i) Appeal of M/s. Steria (India) Limited, a unit in NSEZ against order dated 25.05.2017 passed by UAC, NSEZ. merger The Board, after hearing the appellant considered the appeal favorably for allowing the only of the three units subject to the condition that Income Tax benefits would be available such with reference to the oldest unit. Since there is no provision in the SEZ Rules 2006 for merger, it was recommended that the approval of Hon’ble CIM may be obtained. The " Board also recommended that the SEZ Rules may be looked into comprehensively and necessary amendments may be carried out. _ (ii) ~~ Appeal of M/s. Onnsynex Ventures Private Limited, a unit in NSEZ against order dated 23.05.2017 passed by UAC, NSEZ liquor The Board, after hearing the appellant allowed the appeal excluding warehousing of set and precious/semi precious metals. The Board also directed that the entrepreneur shall up separate units for trading and warehousing. . 12

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(iii) | Appeal of M/s. Sujan Oil & Gas Infra Logistics, a unit in KASEZ against order dated 11.04.2017 passed by UAC, KASEZ

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(iii) | Appeal of M/s. Sujan Oil & Gas Infra Logistics, a unit in KASEZ against order dated 11.04.2017 passed by UAC, KASEZ

The import Board, after hearing the appellant decided to endorse the decision of the UAC as of fertilizers is allowed only through State Trading Enterprises. RRR ARK ,. ;

Annexure - I

List of Participants for the Meeting of the Board of Approval for Special Economic Zones held on 3" July May, 2017 under the Chairpersonship of Commerce Secretary, Department of Commerce.

1, Ms. Rita Teaotia, Chairpersonship, BoA & Commerce Secretary, Department of Commerce 2. Shri Alok Vardhan Chaturvedi, Additional Secretary, Department of Commerce 3. Shri J.V. Patil, Additional, DGFT

Dr. Prem Verma, Additional DG, DGEP, Department of Revenue, Ministry of Finance
Shri Sanjay Bansal, Additional Director General, DGEP
Smt. Deepshikha Sharma, Director, CBDT, Department of Revenue, Ministry of Finance 7. Shri Saroj Kumar Behera, Joint Director, DGEP, BEC 8. Shri A.K. Mishra, Research Assistant TCPO, Ministry of Urban Development, Vikas , Bhawan, I.P. Estate, New Delhi
Shri K. Biswal, JS&LC, Legislative Department, M/o. Law &Justices 10. Shri H.S. Bisht, Director, O/o DC (MSME), Nirman Bhawan, New Delhi 11. Shri P. Bali, Co (Ports) Ministry of Shipping |
Dr. Krishna Kanth Pulichula, Scientist-C, TDT Division, Dept. of Science & Technology, Technology Bhawan, New Delhi.
Shri R.K. Gupta, CGM, RIICO, Government of Rajasthan, Jaipur

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Dr. Krishna Kanth Pulichula, Scientist-C, TDT Division, Dept. of Science & Technology, Technology Bhawan, New Delhi.
Shri R.K. Gupta, CGM, RIICO, Government of Rajasthan, Jaipur

14, Shri Gurpreet Singh, Manager, PSIEC, Chandigarh.

Dr. Rakesh.A.R., Town and country, Planning Organization, M/o Urban Development, Govt. of India.
Shri Ashok Sangwan, Director & Special Secretary Industries & Commerce, Haryana.

LIST OF DEVELOPMENT COMMISSIONERS

Dr. L.B. Singhal, Development Commissioner, Noida SEZ °
Shri N.P.S. Monga, Development Commissioner, SEEPZ-SEZ
Dr. Safeena AN, Development Commissioner, CSEZ
Shri Upendra Vashisht, Development Commissioner, KASEZ
Ms. Sobhana K.S. Rao, Development Commissioner, VSEZ
Shri R.P. Goyal, Development Commissioner, AP&SEZ/Mundra
S.K. Sharma, Development Commissioner, Mihan SEZ Nagpur
Smt. Lata Shukla, Development Commissioner, Navi Mumbai SEZ
Shri K.L. Sharma, Development Commissioner, Surat SEZ
Shri A.K. Singh, Development Commissioner, Mangalore SEZ
Shri D. Anandan, Joint Development Commissioner, MEPZ-SEZ
Shri Ishwar Singh, Joint Development Commissioner, Indore SEZ 29. Dr. Sriramappa. V, Joint Development Commissioner, Falta SEZ

LIST OF PARTICIPANTS FROM DEPARTMENT OF COMMERCE

Shri G. Srinivasan, Under Secretary, Department of Commerce
Shri Aditya Narayan, Under Secretary, Department of Commerce 32. Shri K.C. Biswal, Section Officer, Department of Commerce

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