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Minutes of the 87th meeting of the Board of Approval on SEZs held on 09.01.2019

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No. F.2/7/2018-SEZ Government of India Ministry of Commerce and Industry Department of Commerce (SEZ Section)

Udyog Bhawan, New Delhi Dated the 16" January, 2019

OFFICE MEMORANDUM

Subject: 87" (Eighty Seventh) Meeting of the Board of Approval on Special Economic Zones (SEZs) held on 9" January, 2019 at 11.00 A.M. — Reg. for Please find enclosed herewith Minutes of the 87" meeting of the Board of Approval SEZs held on 9" January, 2019 under the Chairmanship of Shri Anup Wadhawan, Secretary, Department of Commerce for information and necessary action.

z. The Development Commissioners are requested to take urgent necessary action, on the directions of BoA requiring follow up action on their part, before the next meeting of the BoA.

To

Kon VOR (G. a Deputy Secretary to the Government Srinivasan)of India Tel: 2306 2496 Email: srinivasan.g@nic.in

  1. Central Board of Excise and Customs, Member (Customs), Department of Revenue, 2. North Block, New Delhi. (Fax: 23092628). Central Board of Direct Taxes, Member (IT), Department of Revenue, North Block, New Delhi. (Telefax: 23092107).

  2. Joint Secretary, Ministry of Finance, Department of Financial Services, Banking 4. Division, Jeevan Deep Building, New Delhi (Fax: 23344462/23366797). Joint Secretary, Department of Industrial Policy and Promotion, Udyog Bhawan, New Delhi.

  3. Joint Secretary, Ministry of Shipping, Transport Bhawan, New Delhi. 6. Joint Secretary (E), Ministry of Petroleum and Natural Gas, Shastri Bhawan, New Delhi

  4. Joint Secretary, Ministry of Agriculture, Plant Protection, Krishi Bhawan, New Delhi. 8. Ministry of Science and Technology, Sc ‘G’ & Head (TDT), Technology Bhavan, 9. Mehrauli Road, New Delhi. (Telefax: 26862512) Joint Secretary, Department of Biotechnology, Ministry of Science and Technology,

  5. 7°loor, Block 2, CGO Complex, Lodhi Road, New Delhi - 110 003. Additional Secretary and Development Commissioner (Micro, Small and Medium Enterprises Scale Industry), Room No. 701, Nirman Bhavan, New Delhi (Fax: 23062315).

  6. Secretary, Department of Electronics & Information Technology, Electronics Niketan, 6, CGO Complex, New Delhi. (Fax: 24363101)

  7. Joint Secretary (IS-I), Ministry of Home Affairs, North Block, New Delhi (Fax: 23092569)

Electronics & Information Technology, Electronics Niketan, 6, CGO Complex, New Delhi. (Fax: 24363101)

  1. Joint Secretary (IS-I), Ministry of Home Affairs, North Block, New Delhi (Fax: 23092569)

  2. Joint Secretary (C&W), Ministry of Defence, Fax: 23015444, South Block, New Delhi.

  3. Joint Secretary, Ministry of Environment and Forests, Pariyavaran Bhavan, CGO Complex, New Delhi — 110003 (Fax: 24363577)

  4. Joint Secretary & Legislative Counsel, Legislative Department, M/o Law & Justice, A-Wing, Shastr i Bhavan, New Delhi. (Tel: 23387095).

  5. Department of Legal Affairs (Shri Hemant Kumar, Assistant Legal Adviser), M/o Law & Justice, Shastri Bhawan, New Delhi.

  6. Secretary, Department of Chemicals & Petrochemicals, Shastri Bhawan, New Delhi

  7. Joint Secretary, Ministry of Overseas Indian Affairs, Akbar Bhawan, Chanakyapuri, New Delhi. (Fax: 24674140)

  8. Chief Planner, Department of Urban Affairs, Town Country Planning Organisation, Vikas Bhavan (E-Block), I.P. Estate, New Delhi. (Fax: 23073678/23379197)

  9. Director General, Director General of Foreign Trade, Department of Commerce, Udyog Bhavan, New Delhi.

  10. Director General, Export Promotion Council for EOUs/SEZs, 8G, go Floor, Hansalaya Building, 15, Barakhamba Road, New Delhi — 110 001 (Fax: 223329770)

22.Dr. Rupa Chanda, Professor, Indian Institute of Management, Bangalore, Bennerghata Road, Bangalore, Karnataka

oor, Hansalaya Building, 15, Barakhamba Road, New Delhi — 110 001 (Fax: 223329770)

22.Dr. Rupa Chanda, Professor, Indian Institute of Management, Bangalore, Bennerghata Road, Bangalore, Karnataka

  1. 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

  2. Development Commissioner, Cochin Special Economic Zone, Cochin.

  3. Development Commissioner, Indore Special Economic Zone, Indore.

  4. Development Commissioner, Mundra Special Economic Zone, 4th Floor, C Wing, Port Users Building, Mundra (Kutch) Gujarat.

  5. Development Commissioner, Dahej Special Economic Zone, Fadia Chambers, Ashram Road, Ahmedabad, Gujarat

  6. Development Commissioner, Navi Mumbai Special Economic Zone, SEEPZ Service Center, Central Road, Andheri (East), Mumbai — 400 096

  7. Development Commissioner, Sterling Special Economic Zone, Sandesara Estate, Atladra Padra Road, Vadodara - 390012

  8. Development Commissioner, Andhra Pradesh Special Economic Zone, Udyog Bhawan, 9" Floor, Siripuram, Visakhapatnam — 3

  9. Development Commissioner, Reliance Jamnagar Special Economic Zone, Jamnagar, Gujarat

t Commissioner, Andhra Pradesh Special Economic Zone, Udyog Bhawan, 9" Floor, Siripuram, Visakhapatnam — 3

  1. Development Commissioner, Reliance Jamnagar Special Economic Zone, Jamnagar, Gujarat

  2. Development Commissioner, Surat Special Economic Zone, Surat, Gujarat 38. Development Commissioner, Mihan Special Economic Zone, Nagpur, Maharashtra

  3. Development Commissioner, Sricity Special Economic Zone, Andhra Pradesh.

  4. Development Commissioner, Mangalore Special Economic Zone, Mangalore. 41.Government of Andhra Pradesh, Principal Secretary and CIP, Industries and Commerce Department, A.P. Secretariat, Hyderabad — 500022. (Fax: 040-23452895).

  5. Government of Telangana, Special Chief Secretary, Industries and Commerce Department, Telangana Secretariat Khairatabad, Hyderabad, Telangana.

  6. Government of Karnataka, Principal Secretary, Commerce and Industry Department, Vikas Saudha, Bangalore — 560001. (Fax: 080-22259870)

  7. Government of Maharashtra, Principal Secretary (Industries), Energy and Labour Department, Mumbai — 400 032.

  8. Government of Gujarat, Principal Secretary, Industries and Mines Department Sardar

! Patel Bhawan, Block No. 5, 3rd Floor, Gandhinagar — 382010 (Fax: 079-23250844). 46. Government of West Bengal, Principal Secretary, (Commerce and Industry), IP Branch (4° Floor), SEZ Section, 4, Abanindranath Tagore Sarani (Camac Street) Kolkata — 700 016

  1. Government of Tamil Nadu, Principal Secretary (Industries), Fort St. George, Chennai — 600009 (Fax: 044-25370822).

Section, 4, Abanindranath Tagore Sarani (Camac Street) Kolkata — 700 016

  1. Government of Tamil Nadu, Principal Secretary (Industries), Fort St. George, Chennai — 600009 (Fax: 044-25370822).

  2. Government of Kerala, Principal Secretary (Industries), Government Secretariat, Trivandrum — 695001 (Fax: 0471-2333017).

  3. Government of Haryana, Financial Commissioner and Principal Secretary), Department of Industries, _ Haryana Civil _ Secretariat, Chandigarh (Fax: 0172-2740526).

  4. Government of Rajasthan, Principal Secretary (Industries), Secretariat Campus, Bhagwan Das Road, Jaipur — 302005 (0141-2227788).

  5. Government of Uttar Pradesh, Principal Secretary, (Industries), Lal Bahadur Shastri Bhawan, Lucknow — 226001 (Fax: 0522-2238255).

  6. Government of Punjab, Principal Secretary Department of Industry & Commerce Udyog Bhawan), Sector -17, Chandigarh- 160017.

  7. Government of Puducherry, Secretary, Department of Industries, Chief Secretariat, Puducherry.

  8. Government of Odisha, Principal Secretary (Industries), Odisha Secretariat, Bhubaneshwar — 751001 (Fax: 0671-536819/2406299).

  9. Government of Madhya Pradesh, Chief Secretary, (Commerce and Industry), Vallabh Bhavan, Bhopal (Fax: 0755-2559974)

  10. Government of Uttarakhand, Principal Secretary, (Industries), No. 4, Subhash Road, Secretariat, Dehradun, Uttarakhand

  11. Government of Jharkhand (Secretary), Department of Industries Nepal House, Doranda, Ranchi — 834002.

ncipal Secretary, (Industries), No. 4, Subhash Road, Secretariat, Dehradun, Uttarakhand

  1. Government of Jharkhand (Secretary), Department of Industries Nepal House, Doranda, Ranchi — 834002.

  2. Union Territory of Daman and Diu and Dadra Nagar Haveli, Secretary (Industries), Department of Industries, Secretariat, Moti Daman — 396220 (Fax: 0260-2230775).

  3. Government of Nagaland, Principal Secretary, Department of Industries and Commerce), Kohima, Nagaland.

  4. Government of Chattishgarh, Commissioner-cum-Secretary Industries, Directorate of Industries, LIC Building Campus, a Floor, Pandri, Raipur, Chhattisgarh (Fax: 0771-2583651).

Copy to: PPS to CS/PS to AS (BBS)/ PS to DS (SNS).

Minutes of the 87" meeting of the Board of Approval for SEZs held on 9" January, 2019

Be

The Eighty Seventh (87") meeting of the Board of Approval (BoA) for Special Economic Zones (SEZs) was held on 9%" January, 2019 under the Chairmanship of Shri Anup Wadhawan, Secretary, Department of Commerce, at 11:00 A.M. in Room No. 108, Udyog Bhawan, New Delhi. The list of participants is Annexed (Annexure-1).

Item No. 87.1: Confirmation of minutes of the meeting of the 86" BoA held on

22.11.2018.

The BoA ratified the minutes ofthe 86" meeting of the BoA held on 22.11.2018.

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Item No. 87.2: Requests for extension of validity of formal approvals (three proposals)

87.2(i) Request of M/s. Golden Tower Infratech Pvt. Ltd. for further extension of the validity of formal approval granted for setting up of IT/ITES SEZ at Plot No. 8, Sector144, Noida (U.P.) beyond 17.12.2018.

The Board, after deliberations, approved extension of the validity of the formal approval up to 17"" December, 2019 under Rule 6(2)(a) of SEZ Rules, 2006.

87.2(ii) Request of M/s. G.P. Realtors Pvt. Ltd. for further extension of the validity of formal approval granted for setting up of Electronic Hardware & IT/ITES SEZ at Village Behrampur, Balola & Bandhwari, Distt. Gurgaon (Haryana) beyond 25.01.2019.

Additional DGEP observed that a litigation could be possibly pending in the court on allotment of land. The representative of Government of Haryana however intimated that the G.P Realtors SEZ was not involved in any such litigation. Accordingly, the Board after deliberations, approved the proposal for extension of validity of formal approval up to 25.01.2020.

87.2(iii) Request of M/s. Wipro Limited, ITATES SEZ at Resapuvanipalem, Visakhapatnam for extension of validity of Formal Approval for one year till 20.12.2019.

The Board, after deliberations, approved extension of the validity of the formal approval up to 20"" December, 2019.

' Item No. 87.3 Requests for extension of LoP beyond 3" Year onward (four proposals)

ard, after deliberations, approved extension of the validity of the formal approval up to 20"" December, 2019.

' Item No. 87.3 Requests for extension of LoP beyond 3" Year onward (four proposals)

87.3(i) Request of M/s. Reliance AIF Management Company Limited in the GIFT — multi-services - SEZ, Ratanpur, Gandhinagar, Gujarat for extension in validity of Letter of Approval (LOA) dated 24.09.2015 beyond 23.09.2018 for further period of one year upto 23.09.2019. hy.

The Board, after deliberations, approved extension of the validity of the LoP up to 23" September, 2019.

87.3(ii) Request dated 28.11.2018 received from M/s. IDFC Bank Limited in the GIFT — multi-services - SEZ, Ratanpur, Gandhinagar, Gujarat for extension in validity of Letter of Approval (LoA) dated 09.11.2015 beyond 08.11.2018 for further period of one year upto 08.11.2019.

DC, KASEZ informed that approval from RBI had been received. The Board, after deliberations, approved extension of the validity of the LoP up to 8" November, 2019.

87.3(iii) Request of M/s Wockhardt Limited Unit 3 at Shendre, Aurangabad, Maharashtra for extension of the validity period of LoA for a period of one year upto 24.10.2019.

The Board, after deliberations, approved extension of the validity of the LoP up to 24" October, 2019.

87.3(iv) Request of M/s. Container Corporation of India Ltd., a unit in SIPCOT Hi Tech SEZ, Sriperumbudur, Tamilnadu for extension of LoA beyond 30.11.2015.

The Board, after deliberations, approved extension of the validity of the LoP up to 29% November, 2019.

Item No. 87.4 : Change of Shareholding Pattern (two proposals)

87.4(i) Consequent to demerger of M/s. The Manjri Stud Farm Pvt. Ltd. to M/s. Manjri Developers Pvt. Ltd., Pune, request for prior approval for change in shareholding pattern of the company.

The Board approved the proposal subject to the following conditions: -

  • i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered developer entity;

  • ii. Fulfilment of all eligibility criteria applicable to developer, including security clearances etc., by the altered developer entity and its constituents;

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  • ili.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 Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority.

.

  • v. The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961.

  • vi. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable.

  • vii.The developer shall furnish details of PAN and jurisdictional assessing officer of the developer to CBDT. fh.

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ernment laws, including those relating to lease of land, as applicable.

  • vii.The developer shall furnish details of PAN and jurisdictional assessing officer of the developer to CBDT. fh.

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.

87.4 (ii) Request of M/s. DLF Assets Private Limited, co-developer in IT/ITES SEZ at DLF Home Developers Limited at Ramapuram, Chennai for change in shareholding pattern.

The Board approved the proposal subject to the following conditions :-

  • i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered co-developer entity;

  • ii. Fulfilment of all eligibility criteria applicable to co-developer, including security clearances etc., by the altered co-developer entity and its constituents:

  • iii. Applicability of and compliance with all 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 Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority.

  • v. The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961.

  • vi. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable.

for deduction under relevant sections of the Income Tax Act, 1961.

  • vi. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable.

  • vii.The co-developer shall furnish details of PAN and jurisdictional assessing officer of the co-developer to CBDT.

Item No. 87.5 Miscellaneous Cases (four proposals)

87.5(i) Request of Meghmani Industries Limited for permission for procurement of Steam through pipeline from DTA unit adjacent to their SEZ Unit.

The Board, after deliberations, decided to approve the proposal subject to the condition that the unit will not avail any duty benefits on laying the said pipeline and that DC, Dahej SEZ would ensure proper account of quantum of goods supplied and received from DTA.

87.5(ii) Request of Rudradev Properties Pvt. Ltd., co-developer cancellation of LoA in FTWZ of M/s. Arshiya Northern FTWZ Ltd. at Village Ibrahimpur, Junaidpur urf Maujpur, Tehsil Khurja, Distt. Bulandshahr (U.P.).

The Board, after deliberations, approved cancellation of co-developer status granted to M/s. Rudradev Properties Pvt. Ltd. in the aforesaid SEZ.

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-87.5(iii) Request of M/s. Brigade (Gujarat) Projects Private Limited for additional Built-up area of 401 sq. ft. Co-Developer in Sector Specific Special Economic Zone at Village Ratanpur, District Gandhinagar, Gujarat, being developed by M/s. GIFT SEZ Ltd.

After deliberations, the Board approved the proposal of M/s. Brigade (Gujarat) Projects Private Limited for additional built-up area of 401 sq. ft., subject to Lease-cumDevelopment Agreement being entered into with the developer for the additional built up area and also subject to standard terms and conditions as per SEZ Act and Rules provided that the

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lease period is limited to a period not exceeding 30 years (Renewable).

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itional built up area and also subject to standard terms and conditions as per SEZ Act and Rules provided that the

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lease period is limited to a period not exceeding 30 years (Renewable).

.

87.5 (iv) Requests for approval for dual use in respect of Offer-Cum-Allotment of completed infrastructure developed in non-processing area of SEZ by the Developer, M/s Gujarat Industrial Development Corporation (GIDC) Ahmedabad to Indian Institute of Packaging under the Department of Commerce for the establishment of a new centre.

The Board, after deliberations, decided to approve the proposal subject to the following conditions:-

:

,

  • i. The Developer i.e. M/s GIDC producea certificate to the effect that the area proposed to be allotted to the IIP is put to only such use which is as per the regulations of the Gujarat State Government and the local body in terms of Rule 11 A(1) (a) of SEZ Rules, 2006.

  • ii. The tax benefits availed, if any, for creation of the infrastructure shall be refunded by M/s GIDC- the Developer in terms of Rule 11 A(1) of SEZ Rules, 2006.

  • iii. The Developer i.e. M/s GIDC produces a certificate to the effect that the area restrictions for duty paid dual use non-processing area as mentioned in Rule 11A(3)(c) of the SEZ Rules, 2006 have been followed.

Decision on Supplementary Agenda

Item No. 87.6: Requests for extension of validity of formal approvals (one proposal)

87.6(i) Request of M/s. Brooke fields Real Estates and Projects Private Limited in the Brookefields SEZ for extension of Letter of Permission (LOP) beyond 31.03.2019 for extension upto 31.03.2020.

The Board, after deliberations, approved extension of the validity of the LoP up to 31“ March, 2020.

Item No. 87.7: Request for extension of LoP beyond 3" Year onwards (one proposal)

87.7(i) Request of M/s Kusum Healthcare Pvt. Ltd. in Indore SEZ for extension of Letter of Permission (LOP) beyond 28.02.2019 for one year up to 28.02.2020.

The Board, after deliberations, approved extension of the validity of the LoP up to 28" February, 2020.

Item No.87.8 Proposal for setting up of new SEZs (one proposal)

87.8(i) |Request of M/s. Aequs SEZ Private Limited, Aequs Consumer Products SEZ, for setting up of SEZ in Banapur and Talbal Villages, Kukanur Taluka (erst. Yelburga Taluka), Koppal District, Karnataka Sector Specific “Light Engineering Goods and —.

The Board, after deliberations, approved the proposal for setting up of a sector specific Special Economic Zone for Light Engineering Goods and Services at Banapur and Talbal Villages, Kukanur Taluka (erst. Yelburga Taluka), Koppal District, Karnataka over an area of 52.08 hectares.

Item No. 87.9: Change of Shareholding Pattern / change of name (four proposals)

87.9(i) Proposal of M/s. ITPG Developers Pvt. Ltd., developer of Electronic Hardware & IT/ITES SEZ at Village Behrampur, Gurugram (Haryana) for change in shareholding pattern of the company.

The Board approved the proposal subject to the following conditions :-

  • i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered developer entity;

  • ii. Fulfilment of all eligibility criteria applicable to developer, including security clearances etc., by the altered developer entity and its constituents;

  • iii.Applicability of and compliance with[all] 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 Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority.

  • v. The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961.

  • vi.The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable.

  • vii.The developer shall furnish details of PAN and jurisdictional assessing officer of the developer to CBDT.

nt State Government laws, including those relating to lease of land, as applicable.

  • vii.The developer shall furnish details of PAN and jurisdictional assessing officer of the developer to CBDT.

87.9(ii) Approval of demerger of M/s. HGP Community Pvt. Ltd. into M/s. Festus Properties Pvt. Ltd. and M/s. Melorinia Hospitality Pvt. Ltd. granted by Hon’ble National Company Law Tribunal, Mumbai Bench and change of implementing agency in respect of Formal Approval from M/s. HGP Community Pvt. Ltd. to M/s. Festus Properties Pyt. Ltd.

The Board approved the proposal subject to the following conditions :-

  • i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered developer entity;

  • ii. Fulfillment of all eligibility criteria applicable to developer, including security clearances etc., by the altered developer entity and its constituents;

  • ili. 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 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

==> picture [35 x 41] intentionally omitted <==

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

==> picture [35 x 41] intentionally omitted <==

----- Start of picture text -----<br> he.<br>----- End of picture text -----<br>

ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961.

  • vi. The applicant shall comply with relevant State Government laws, including those. relating to lease of land, as applicable.

  • vii.The developer shall furnish details of PAN and jurisdictional assessing officer of the developer to CBDT.

87.9(iii) Request of M/s. DLF Assets Pvt. Ltd., Co-developer of IT/ITES SEZ of M/s. DLF Ltd. at Village Silokhera, Sector-30, Gurugram (Haryana) for change in shareholding pattern of the company.

The Board approved the proposal subject to the following conditions :-

  • i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered co-developer entity;

  • ii. Fulfillment of all eligibility criteria applicable to co-developer, including security clearances etc., by the altered co-developer entity and its constituents;

  • ili.Applicability of and compliance with[all] Revenue[/] Company Affairs /SEBI[etc.] rules which regulate issues like capital gains, equity change, transfer, taxability etc.

d its constituents;

  • ili.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 Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority.

  • v. The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961.

  • vi. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable.

  • vii.The co-developer shall furnish details of PAN and jurisdictional assessing officer of the co-developer to CBDT.

87.9(iv) Request of M/s. DLF Assets Pvt. Ltd., Co-developer of IT/ITES SEZ of M/s. DLF Cyber City Developers Ltd. at Sector-24 & 25A, DLF Phase-III, Gurugram (Haryana) for change in shareholding pattern of the company.

The Board approved the proposal subject to the following conditions :-

  • i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered co-developer entity;

  • ii. Fulfilment of all eligibility criteria applicable to co-developer, including security clearances etc., by the altered co-developer entity and its constituents;

altered co-developer entity;

  • ii. Fulfilment of all eligibility criteria applicable to co-developer, including security clearances etc., by the altered co-developer entity and its constituents;

  • iii.Applicability of and compliance with[all] 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 Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority.

  • v. The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961.

==> picture [33 x 44] intentionally omitted <==

----- Start of picture text -----<br> b-<br>----- End of picture text -----<br>

  • vi. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable.

  • vii.The co-developer shall furnish details of PAN and jurisdictional assessing officer of the co-developer to CBDT.

Item No. 87.10 Miscellaneous Cases (Six Proposals)

87.10(i) Request of M/s. Hirise Hospitality Pvt. Ltd. co-developer in APSEZ at Mundra for reduction in the area of leased land from 40468 to 25223 sq. meters as per the lease deed dated 06.11.2015

The Board, after deliberations, approved the request for reduction in the area of leased land from 40468 to 25223 sq. meters.

87.10(ii) Proposal of the Co-developer — M/s. Combine Realty Pvt. Ltd., Ahmedabad, for development of additional area of 2166 sq. mtrs. in the IT/ITES- SEZ at Village Ognaj, Talulka Dascroi, District Ahmedabad, developed by M/s. Calica Construction and Impex Pvt. Ltd.

After deliberations, the Board approved the proposal of M/s Combine Realty Pvt. Ltd., Ahmedabad, for development of additional area of 2166 sq. mtrs. in the IT/ITES- SEZ at Village Ognaj, Talulka Dascroi, District Ahmedabad, developed by M/s. Calica Construction and Impex Pvt. Ltd. in accordance with the Lease Agreement dated 19.12.2012 and deed of correction dated 10.09.2012 entered into with the developer subject to standard terms and conditions as per SEZ Act and Rules provided that the lease period is reduced to a period not exceeding 30 years (Renewable).

87.10(iii) Request of M/s. Altus Learning Pvt. Ltd. (formerly known as M/s. Calorx Education Company Pvt. Ltd. co-developer in APSEZ at Mundra for reduction in the area of leased land from 20356 sq. meter (2.02 Ha) to 12141 sq. meters (1.21 Ha) as per the lease deed dated 09.09.2010.

ation Company Pvt. Ltd. co-developer in APSEZ at Mundra for reduction in the area of leased land from 20356 sq. meter (2.02 Ha) to 12141 sq. meters (1.21 Ha) as per the lease deed dated 09.09.2010.

The Board, after deliberations, approved the request for reduction in the area of leased land from 20356 sq. meter (2.02 Ha) to 12141 sq. meters (1.21 Ha).

87.10(iv) Appeal of M/s. ONGC Petro additions Limited (OPaL), a unit in multiproduct SEZ developer by Dahej SEZ at Bharuch Gujarat challenging the clarification issued by this Deptt. following the approval of g3rd meeting of the BoA.

The Board noted that as per present policy, fiscal benefits for developing infrastructure outside the SEZ was not permissible. The Board also noted that there was no provision in the SEZ Act, 2005 for the Board to review its decision. 87.10(v) Proposal regarding amendment of policy Guidelines of Department of Commerce for Power Generation, Transmission and Distribution in SEZ dated 16.02.2016.

Representatives of DoR informed that the DoR with the approval of Finance’Secretary

had furnished its comments vide its O.M. dated 13.08.2018 that as the matter was a policy decision, DoC may take an appropriate view in the matter. Except for that, DoR has no comments to offer. DoR pointed out that the earlier power guidelines had not been approved by BoA. The Board was informed that the Hon’ble Commerce and Industry Minister had directed that the matter may be deliberated in the Board of Approval. The Board, after deliberations, approved the proposal.

e Board was informed that the Hon’ble Commerce and Industry Minister had directed that the matter may be deliberated in the Board of Approval. The Board, after deliberations, approved the proposal.

87.10(vi) Request for No Objection for setting up of Disaster Recovery (DR) and Business Continuity Plan (BCP) Centre in Infosys Limited SEZ, located at Kumblapadavu, Kurnad Post, Pajeeru Village, Bantwal Taluk 574153, Dakshina Kannada District, Karnataka reg.

The Board, after deliberations, approved the proposal.

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Annexure - I

| | | | | | | | |

List of Participants for the Meeting of the Board of Approval for Special Economic Zones held on 9" January, 2019 under the Chairmanship of Commerce Secretary, Department of Commerce.

  1. Shri Anup Wadhawan, Chairman, BoA & Commerce Secretary, Department of Commerce 2. Shri Alok Vardhan Chaturvedi, DG, DGFT

  2. Shri Bidyut Behari Swain, Additional Secretary, Department of Commerce 4. Shri Senthil Nathan S, Deputy Secretary, Department of Commerce. 5. Shri G. Srinivasan, Deputy Secretary, Department of Commerce 6. Smt. Deepshikha Sharma, OSD, ITA-I CBDT, Department of Revenue, Ministry of Finance.

  3. Dr. Prem Verma, ADG, DGEP, CBEC

  4. Shri Saroj Kumar Behera, Joint Director, DGEP, CBEC 9. Shri Anil Kant Mishra, Research Assistant TCPO, Ministry of Urban Development, Vikas Bhawan, I.P. Estate, New Delhi

  5. Shri A.K. Tamaria, Dy. Director, O/o DC(MSME), M/o MSME

ctor, DGEP, CBEC 9. Shri Anil Kant Mishra, Research Assistant TCPO, Ministry of Urban Development, Vikas Bhawan, I.P. Estate, New Delhi

  1. Shri A.K. Tamaria, Dy. Director, O/o DC(MSME), M/o MSME

  2. Shri Hemant Kumar, ALA, Department of Legal Affairs.

  3. Shri V.K. Sharma, Consultant (PW), Ministry of Shipping. 13. Shri Subhash Sharma, officer on Special Duty, CSIDC, Govt. of Chhattisgarh. 14. Shri R.C. Dahra, Consultant, O/o Director Industries Department, Haryana 15.Shri Suman Chandra, Assistant Resident Commissioner, Govt. of Maharashtra, Maharashtra Sadan.

  4. Shri Gurpreet Singh, Manager, PSIEC, Govt. of Punjab.

  5. Shri A.K. Dham, Liaison officer, Govt. of Odisha Niwas. New Delhi

  • LIST OF DEVELOPMENT COMMISSIONERS 19.18. Dr.Shri L.B.Baldev Singhal,Singh, DevelopmentDevelopment Commissioner,Commissioner, NoidaSEEPZ-SEZ SEZ 20. Dr. M.K.S. Sundram, Development Commissioner, MEPZ-SEZ/ CSEZ

    1. Dr. Amiya Chandra, Development Commissioner, KASEZ/ Adani Port SEZ, Mundra

    2. Shri G. Seetharam Reddy, Development Commissioner, APIIC SEZ, Atchutapuram/ VSEZ, Visakhapatnam.

    3. Shri J.M. Gupta, Development Commissioner, Indore SEZ

    4. Shri R. Muthuraj, Development Commissioner, Sri City SEZ

    5. Shri S. Sasi Kumar, Development Commissioner, Mangalore SEZ

  1. Shri Anil Kumar Choudhary, Development Commissioner, Dahej SEZ 27. Shri Virendra Singh, Development Commissioner, Surat SEZ, Gujarat

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