= SPECIAL = ZONE ANDHERI (EAST), MUMBAI. CPPCC eee eee rece cece reece cere ere rrr rercerre cere es eer eee es जन नमन . MEETING OF THE APPROVAL COMMITTEE FOR SECTOR SPECIFIC SPECIAL ECONOMIC ZONE FOR IT/ITES OF M/s. FESTUS PROPERTIES PRIVATE LIMITED.a : Video Conferencing through Cisco WEBEX application. DATE : Friday, 307 June, 2023. TIME ४ 11:30 A.M. KEAKKKEKKKKEKEKEEK

Meeting of the Approval Committee for pect Approval Committee for Sector Specific Special Economic Specific Special Economic Zone for IT/ITES « of M/s. Festus Properties Private Limited ~ 552 under Me Properties Private Limited - SEZ under the Chairmanship of | Development Commissioner, SEEPZ-SEZ om Eri@ay, 20" Commissioner, SEEPZ-SEZ on Friday, 30% June, 2023. INDEX Agenda Item No. Subject Confirmation of minutes of the meeting held on 29.05.2023. ; Monitoring performance of QPR for the period Agenda Item No. 02: - | October 2022 to December 2022 - M/s. Festus | Properties Private Limited. Limited. Agenda Item No. 01:

कम आम EE SE EEE AE I RE OE मक के

of a File No,SEZ1-14011/1/2022-NS Minutes of the 62”4 Meeting of the Approval Committee for Sector Specific Special Economic Zone of M/s. Festus Properties Pvt. Lid. - SEZ, at Powai, Mumbai, under the Chairmanship of Development Commissioner, 5.

1. Name of the SEZ Z-SEZ held on 29.05.2023 on Video Conferencing through Cisco WEBEX application. M/s. Festus Properties Pvt. Ltd.
2. Sector IT/ITES
3. Meeting no 62nd
4. Date 29.05.2023 Members Present; Sr. . . No Name of Members Designation Organization t. Devel 1 (hric.P.S. Chauhan 1 evelopment SEEPZ-SEZ, ommissioner, 2 shri Harmesh Lal joint Commissioner ominee of Income Tax office, Kautilya Bhawan, ncome Tax (Bandra, Mumbai. ori. Himanshu Dhar . F . F . 3 Deputy. Director DGFT ominee of the DGFT, Mumbai. Pandey ue Deputy Direct विW विW . : 4 (Smt. KirtiDeshmukh | हिZ rector ominee of Directorate of Industries, Mumbai. : Industries 5 hri. M. Prabhakar Asstt. Commissioner, ominee of Commissioner of Customs, General, Customs ir Cargo, Sahar. Special Invitee;- Shri. Anil Chaudhary Specified Officer, Festus-SEZ. Shri. Hanish Rathi, ADC (New SEZ}, Shri. Haresh K. Dahilkar, ADC (New SEZ); Shri Palash Shankar, ADC (New SEZ); Smt. Rekha Nair, Assistant, Shri G.S. Bhandari Assistant and Shri. Ravindra Kumar, Assistant also attended for assistance and smooth functioning of the meeting. Agenda Item No. 01; Confirmation of Minutes of the 61° meeting held on 31.03.2023. The Minutes of the 615' Meeting held on 31.03.2023 were confirmed with consensus. Agenda Item No, 02; Application for w.r.t. Change in Shareholding Pattern of the Company - ERGO Technology and Services Private Limited, The unit requested for approval w.r.t Change in Shareholding Pattern of the company and

submitted all relevant documents. The details of Shareholding Pattern of the company are as under: File No.SEZ1-14011/1/2022-NS SHAREHOLDING PATTERN AND BREAKUP BEFORE:-* 5. No Particulars | mount (In Rs.) (Before) mount (In Rs.) (After) 1 Authorized Capital 80,00,00,000 1180,00,00,000 2 ubscribed Capital 178,00,00,000 122,60,00,000 3 Paid Up Capital 178,00,00,000 1122,60,00,000 |

File No.SEZ1-1401 1/1/2022-NS Sr. | Name of the Shareholders | Existing Shareholding | New Shareholding Pattern after allotment No Pattern of shares by way of right issue No of Shares % No of Shares % 1 ERGO Technology & Services 77,99,999 99.99 1,22,59,999 99.99 Management AG 2 ERGO International AG 01 0.01 1 0.01 TOTAL 78,00,000 100 122,60,000 100 * There is a Change in Shareholding Pattern. List of Directors:- Sr.No Board of Directors before change in the Board of Directors after change in the shareholding shareholding Bernhard Steinruecke Bernhard Steinruecke Pramod Kumar Agarwal Pramod Kumar Agarwal Mehmood Hasan Mansocori Mehmood Hasan Mansoori * There is No Change in Composition of Board of Directors. Decision:- After deliberations, the Committee approved the proposal of M/s. ERGO Technology and _ Services Private Limited for Change in Shareholding Pattern of the company as indicated above in terms of Instruction No. 109 dated 18.10.2021. Further, the Committee also directed the Unit to comply with the following safeguards in terms of Instruction No. 109, dated 18.10.2021:

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

Fulfillment of all eligibility criteria applicable, including security clearances etc, by the altered entity and its constituents, 3. Applicability of and compliance with all Revenue/Company Affairs/SEBI etc. Acts/Rules which regulate issues like capital gains, equity change, transfer, taxability etc. 4, Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT&R), CBDT, Department of Revenue and to the jurisdictional Authority. 5. 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. 6, The applicant shall comply with relevant State Government laws, including those relating to lease of

File No.SEZ1-14011/1/2022-NS jand, as applicable. 7. The applicant shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT. 8. The applicant shall be recognized by the new name or such arrangement in all the records. Meeting ended with the vote of thanks to the Chair. Signed by Shri. Shyam Jagannathan chair मिeधडिhपी टीम 15:52:04 ason: Approved Development Commissioner हल

Action Taken किp ERGO Technology Approval w.r.t, Change in ~ - SEZ and Services Private Shareholding Pattern of the Limited Company Letter issued to Unit on 12.06.2023

GOVERNMENT OF INDIA OFFICE OF THE DEVELOPMENT COMMISSIONER, SEEPZ SPECIAL ECONOMIC ZONE, ANDHERI (EAST), MUMBAI KRKKKKKKKEKEERERER AGENDA NOTE FOR CONSIDERATION OF APPROVAL COMMITTEE a) Proposal :- Quarterly and Half Yearly Performance Report of M/s. Festus Properties Pvt. Ltd., (Developer) for the period October 2022 to December 2022, January to March 2023 and October 2022 to March 2023. b) Specific Issue on which decision is required :- Quarterly and Half Yearly Performance Report for the period October 2022 to December 2022, January to March 2023 and October 2022 to March 2023. c) Relevant provision of SEZ, Act, 2006 & Rules: In terms of Rule 12(6), of SEZ Rules 2006 - “The Developer shall maintain a proper account of the import or procurement, consumption and utilization of goods and submit quarterly and half-yearly returns to the Development Commissioner in Form E for placing the same before the Approval Committee”. In terms of Rule 22(4), of SEZ Rules 2006 - “The Developer shall submit Quarterly Report on import and procurement of goods from the Domestic Tariff Area, utilization of the same and the stock in hand, in Form E to the Development Commissioner and the Specified Officer and Development Commissioner shall place the same before the Approval Committee. d) Other Information : M/s. Festus Properties Private Limited (Developer) has been granted Formal Approval No. F.2/67/2006-EPZ Dated 19.06.2006 for setting up of an IT/ITES SEZ at Kensington IT/ITES, Hiranandani Business Park, Powai, Mumbai - 400076.

The QPR and HPR were forwarded to Specified Officer for verification. The Specified Officer vide letter dated 02.06.2023 has stated that the QPR and HPR submitted by the Developer has been verified and the detailed report in respect of M/s. Festus Properties Private Limited of the QPR (October 2022 to December 2022, January to March 2023 and October 2022 10 March 2023) is as under: QUARTERLY REPORT October to December 2022 pape DETAILS OF GOODS | = REPORT NO PROCUREMENT . oe October to December 2022 1 ___DTA is 33,42,801.75 2 IMPORT ont. . 0.00 TOTAL है है 33,42,801.75 The Utilization of the Bond Value details is under. eee ला REPORT eer ee October to December 2022 __Opening Balance | Dee 11,09,01,642.00 Duty/Tax Foregone | 1,92,41,233.00 Closing Balance

9,16,60,409.00 QUARTERLY REPORT January to March 2023 | अ0 | DETAILS OF GOODS)

REPORT NO PROCUREMENT January to March 2023 1 मा ७ a 10,04,885.00 2 _IMPORT An : 0.00 TOTAL 2 10,04,885.00 The Utilization of the Bond Value details is under. हल os ह = REPORT a a ee 28 January to March 2023 Opening Balance _ 9,16,60,409.00 Duty/Tax Foregone _

" पा 154,04,115.00 Closing Balance ६ 7,42,56,294.00 HALF YEARLY REPORT October 2022 to March 2023 | ४0 | DETAILS OF GOODS HALF YEARLY REPORT NO PROCUREMENT October 2022 to March 2023 5 DTA mile 43,47,686.75

| IMPORT TOTAL ae The Utilization of the Bond Value details is under. रा.

YEARLY REPORT October 2022 to March 2023 Opening Balance Duty/Tax Foregone 11,09,01,642.00 3,66,45,348.00 Closing Balance __ 7,42,56,294.00 Copy of Specified Officer’s letter dated 02.06.2023 is enclosed. e) ADC Recommendation: No Discrepancy has been found by the Specified Officer with respect to QPR and HPR for the period October 2022 to December 2022, January to March 2023 and October 2022 to March 2023 of M/s. Festus Properties Private Limited. -SEZ. Hence, monitoring performance of the Developer for said period is submitted before Approval Committee for consideration. KRKKEKKEKRKKERRERERE