Minutes of the Approval Committee meeting of SEEPZ-SEZ held on 31.03.2023 — 00-arshiya-sez

Minutes of the 146th Meeting of the Approval Committee for Multi Sector Special Economic Zone of M/s. Arshiya Limited-SEZ under the Chairmanship of Development Commissioner, SEEPZ- SEZ held on 31.03.2023 through Video Conferencing.

1.
Name of the SEZ
:
M/s. Arshiya Limited.
2.
Sector
:
Multi Sector
3.
Meeting no.
:
146th
4.
Date
:
31.03.2023
Members Present:
Sr.
No.
Name of Members
Designation
Organization
1
Shri. C. P. S.
Chauhan
Jt. Development
Commissioner,
SEEPZ-SEZ.
2
Shri. Harmesh Lal
Joint Commissioner
Income Tax
Nominee of Income Tax office,
Kautilya Bhawan, Bandra,
Mumbai.
3
Shri. Himanshu
Dhar Pandey
Deputy Director
DGFT
Nominee of the DGFT, Mumbai.
4
Smt. Kirti
Deshmukh
Deputy Director
Industries
Nominee of Directorate of
Industries, Mumbai.
5
Dr. M. Prabhakar
Asstt. Commissioner,
Customs
Nominee of Commissioner of
Customs, General, Air Cargo,
Sahar.
Special Invitee:-
1. Shri. Fredrick F. Nazareth
:
Specified Officer, Arshiya-SEZ.
Shri. Hanish Rathi, ADC (New SEZ), Dr. Vijaykumar Rohidas Londhe, ADC (New-
SEZ), Shri. Haresh Kisan Dahilkar, ADC (New-SEZ), Smt. Bridget Joe, EA to
Development Commissioner/Estate Manager, Kiran K. Vanker, ADC (EOU), Shri.
Ravindra Kumar, Assistant and Smt. Rekha Nair, Assistant and also attended for
assistance and smooth functioning of the meeting.
Agenda Item No. 1: Confirmation of Minutes of the 145th meeting held on
30.12.2022.
File No.SEZ1-14011/3/2021-NS

----------------------------
The Minutes of the 145th Meeting held on 31.01.2023 were confirmed with
consensus.
Agenda Item No. 2: Proposal for Change in Direcotr and Change in Shareholding
Pattern of the Company – M/s. Ashapur Aromas Private Limited
The unit requested for approval w.r.t.
Change in Shareholding of the
company and submitted all relevant documents. The details of shareholding pattern
of the company is as under:
a. List of Directors before and after :
Sr. No.
Change of Directors before
Sr. No.
Change of Directors after
1.
Ajay Kiran Kantilal Gudka
1.
Ajay Kiran Kantilal Gudka
2.
Nayan Kantilal Gudka
2.
Nayan Kantilal Gudka
3.
Harsha Ajaykiran Gudka
3.
Aparna Lalit Khurana
4.
Carlo Ravera
b. (i) The details of Shareholding Pattern of the company (Pre) (on
31.03.2022) :
Sr. No. Change of Shareholding Pattern
% of Shares (F.V. Rs. 100
each)
% of Holding
1.
Ajaykiran Kantilal Gudka
3740
49.867
2.
Harsha Ajaykiran Gudka
3750
50.000
3.
Nayan Kantilal Gudka
1
0.013
4.
Kantilal Hemraj Gudka
1
0.013
5.
Hansa Kantilal Gudka
1
0.013
6.
Nehal Nayan Gudka
1
0.013
7.
Kantilal Hemraj Gudka HUF
1
0.013
8.
Ajaykiran Kantilal Gudka HUF
1
0.013
9.
Shreya Ajaykiran Gudka
1
0.013
10.
Kairvi Ajaykiran Gudka
1
0.013
11
Rayansh Nayan Gudka
1
0.013
12
Nayan Kantilal Gudka HUF
1
0.013
Total
7500
100.000
(ii)
The
details
of
Shareholding
Pattern
of
the
company
(Post)
(on
07.09.2022):
File No.SEZ1-14011/3/2021-NS

Sr. No. Change of Shareholding Pattern
% of Shares (F.V. Rs. 100
each)
% of Holding
1.
Azelis (India) Private Limited
5250
70.00
2.
Ajaykiran Kantilal Gudka
1125
15.00
3.
Nayan Kantilal Gudka
1125
15.00
Total
7500
100.00
Decision : After deliberations, the Committee approved the proposal of M/s.
Ashapur Aromas Private Limited the unit for Change in Director and Change in
Shareholding Pattern of the Company in terms of MOC&I Instruction No. 109 dated
18th October, 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.
2.
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 land, 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.
File No.SEZ1-14011/3/2021-NS

Agenda Item No. 03: Proposal for Change in Name of the Company of M/s.
Sulphur Mills Limited
The M/s. Sulphur Mills Limited has requested for approval of change in name
of the company.
Decision : After deliberation, the committee Approved the proposal for change in
name from M/s. Sulphur Mills Limited to M/s. SML Limited in terms of MOC&I
Instruction No. 109 dated 18th October, 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.
2.
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 land, as applicable.
7. The applicant shall furnish details of PAN and jurisdictional assessing officer
File No.SEZ1-14011/3/2021-NS

of the unit to CBDT.
8. The applicant shall be recognized by the new name or such arrangement in
all the records.
Supplementary
Agenda:
Proposal
for
borad
banding
of
activities
to
include
additional trading items into exsting Letter of Approval.
The M/s. Kyoritsu Electic India Pvt. Ltd. has requested for approval of broad
banding of activities to include additional trading items into existing Letter of
Approval in Processing area of Arshiya-SEZ over an area of Admeasuring 500.00 Sq.
ft. in Warehouse No.03 in FTWZ (SEZ) located at Village-Sai, Taluka – Panvel, District –
Raigad, Maharashtra.
Decision: After deliberation, the Committee approved the proposal. The details of
Broad bading items and revised projection as under:
(A) The unit has given below the summary of additional items:
Sr. No.
Trading Activity of below items
HSN Code
1
XRAY COIMPONENT COUNTING SYSTEM / PCB ANALYZER
90221900
2
PICK AND PLACE MACHINE (CHIP MOUNTER))
84798999
3
Conformal Coating Machine
84248990
4
USB CONNECTOR
85369090
5
MAGNETS
85051190
6
LEDS
85414020
7
PCB LASER MARKING SYSTEM
84561100
8
PCB HANDLING EQUIPMENTS
84289090
9
WAVE SOLDERING MACHINE
84682090
10
REFLOW OVEN
85143090
11
PREFORMING MACHINE
84798999
12
NOZZLE CLEANING MACHINE
84798999
13
DRY CABINET
84798999
14
VAPOUR PHASE SOLDER MACHINE
84198990
15
SCREEN PRINTER MACHINE
84798999
16
STENCIL CLEANER
84243000
17
FEASA ANALYZER
90314100
18
THICK FILM RESISTOR (TFR)
85340000
19
AGV ZALPHA
84795000
20
SMT LINE EQUIPMENT
84798999
21
Automatic PCB Loader
84248990
22
Automatic PCB Unloader
84248990
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23
Link Conveyor
84289090
24
Reject Unloader
84289090
(B) Revision in Projections :
1) Existing and proposed Import Indigenous requirements and other inputs :
S.
No
Activity of Unit
Existing Proposed for the renewed
period
1.
Value of Capital Goods (in Rs.
Lakhs)
Indigenous
27.11
27.11
Import
0.00
0.00
2.
Value of Raw Materials (in Rs.
Lakhs)
Indigenous
0.00
0.00
Import
2336.00
3648.00
3.
Value of Input Services (in Rs.
Lakhs)
Indigenous 200.00
250.00
Import
0.00
0.00
4.
Employment
Men
5
5
Women
1
1
2) a) Existing computation of Net Foreign Exchange:
(Amount in Lakhs)
Year
1st Year
2nd
Year
3rd
Year
4th
Year
5th
Year
Total
Rs.
Lakhs
FOB Value of Exports in first
five years
200.00 500.00 600.00 720.00 900.00 2,920.00
Foreign Exchange Outgo for
the first five years
160.00 400.00 480.00 576.00 720.00 2,336.00
Net Foreign Exchange Earnings
for the first five years (1) – (2)
40.00
100.00 120.00 144.00 180.00
584.00
2) b) Revised (Broad banding, diversification or capacity enhancement) computation
of Net Foreign Exchange:
(Amount in Lakhs)
Year
1st Year
2nd
Year
3rd
Year
4th Year 5th Year
Total
Rs.
Lakhs
FOB Value of Exports in first
five years
600.00 720.00 864.00 1,080.00 1,296.00 4,560.00
Foreign Exchange Outgo for
the first five years
480.00 576.00 691.00
864.00
1,037.00 3,648.00
File No.SEZ1-14011/3/2021-NS

Net Foreign Exchange
Earnings for the first five
years (1) – (2)
120.00 144.00 173.00
216.00
256.00
912.00
The meeting ended with the vote of thanks to the Chair.
Chairperson-cum-
Development Commissioner
File No.SEZ1-14011/3/2021-NS