Agenda for meeting of Approval Committee meeting for Pune-Cluster to be held on 25- July- 2023. — 03-1nalanda-shelters-pvt-ltd-sez

SEEPZ SPECIAL ECONOMIC ZONE ANDHERI (EAST), MUMBAI.

AGENDA FOR MEETING OF THE APPROVAL COMMITTEE FOR SECTOR SPECIFIC SPECIAL ECONOMIC ZONE FOR IT/ITES AT PUNE OF M/S. NALANDA SHELTER PRIVATE LTD.

Via Video Conferencing

DATE : 25.07.2023

TIME : 03.00 P.M.

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MEETING OF THE APPROVAL COMMITTEE FOR SECTOR SPECIFIC SPECIAL ECONOMIC ZONE FOR IT/ITES AT PUNE, UNDER THE CHAIRMANSHIP OF DEVELOPMENT COMMISSIONER, SEEPZ-SEZ ON 25.07.2023 INDEX

Agenda Item No.

Subject

Agenda Item No. 01 :- Confirmation of the Minutes of the meeting held on 27.06.2023 Agenda Item No. 02 :- Application for Approval of Setting up of New Unit submitted by M/s Panasonic Avionics India Pvt Ltd. Agenda Item No. 03 :- Application for Approval of Revision in Projections on account of addition of area to existing area submitted by M/s CentraLogic Consultancy Pvt Ltd. Agenda Item No. 04 :- Application for Approval of Change in Shareholding Pattern submitted by M/s Nalanda Shelters Pvt Ltd. (Developer)

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1 Minutes of the 33rdMeeting of the Approval Committee held under the Chairmanship of Zonal Development Commissioner SEEPZ-SEZ, Mumbai for Sector Specific Special Economic Zone for IT/ITES of M/s. Nalanda Shelter Pvt Ltd -SEZ, PUNE held on 27.06.2023 via video conferencing. 1 Name of the SEZ M/s Nalanda Shelter Pvt Ltd – SEZ, PUNE 2 Sector IT/ITES 3 Meeting No. 33rd 4 Date 27.06.2023 Members present S r Name and Designation (S/Shri.) Department 1 Smt. MitalHiremath Joint Development Commissioner Pune Cluster SEZ, Pune 2 Smt. Pradnya Gholap DCIT, (TDS) Pune Nominee of Income Tax, Pune 3 Dr. DileerajDabhole Dy. DGFT Nominee of DGFT, Pune 4 Smt. Sunita Jagtap Superintendent Nominee of Customs, Pune Special Invitee S r Name and Designation Department 1 Shri B. Ajay Kumar Specified Officer MIDC-SEZ, Pune. Agenda Item No.01: Confirmation of the Minutes of the 32ndmeeting held on 30.05.2023 After deliberation, the Committee confirmed the minutes of the 32ndmeeting of Approval Committee held on 30.05.2023 Agenda Item No.02:Monitoring of the performance of M/s Ensono Technologies LLP, located at Nalanda Shelter Pvt Ltd – SEZ, RGIP, Pune. After deliberation, the committee noted the performance of the unit for the 4 years i.e., 2019-20 to 2022-23 from the 1st block period. The unit has achieved export revenue of Rs. 84.95 Lakhs as against projected export of Rs. 385.34 Lakhs for FY 2019-20 to 2022-23 of four years of 1st Block Period of 5 years (i.e. 2019-20 to 2023-24) i.e. 22.04%. The unit achieved positive NFE of Rs. 84.95 Lakhs in the last year 2022-23 on cumulative basis i.e. 100% and employee of 1 No. as on 31.03.2023 in the FY 2022-23. File No.S-SEZ-MINS0NSPL/1/2022-JDCP

2 Agenda Item No. 03 : Monitoring of the performance of M/s E-ZEST Solutions Ltd. located at Nalanda Shelter Pvt Ltd – SEZ, RGIP, Pune. After deliberation, the committee noted the performance of the unit for 1 year i.e., FY 2022-23 of 1st Block Period 2019-20 to 2023-24. The unit has achieved export revenue of Rs. NIL Lakhs as against projected export of Rs. 181.10 Lakhs for FY 2022-23 of 1 year of 1 st Block Period of 5 years (i.e. 2019-20 to 2023-24). The unit achieved positive NFE of Rs. 29.11 Lakhs in the year 2022-23 on cumulative basis i.e. 100%. The Committee after deliberations directed the Specified Officer to verify the service eligibility and submit a report which should be communicated to the unit. Meeting ended with a vote of thanks to the Chair. (Shyam Jagannathan, IAS) Chairman-cum- Development Commissioner Email- dcseepz-mah@nic.in File No.S-SEZ-MINS0NSPL/1/2022-JDCP

1 FORMAT FOR NEW UNIT IN SEZ COMPANY/UNIT PROFILE Name and address, telephone/fax/email ID Status of the company i.e. proprietorship/ partnership/individual and statute under which registered with
registration no. & year of registration Financial capability of the applicant IEC No / date/ issued by Whether manufacturer / trader/ company warehouse/ Service provider II. PROJECT PROFILE (i) Product to be manufactured/
service to be rendered M/s. Panasonic Avionics India Pvt. Ltd. Registered address: 401 & 402, 4th Floor Wing-C,Eternia Premises

Shivajinagar,Pune City ,Pune MH 411005 Proposed address: 9th Office Floor (Unit No. 1,2,3 & 4).Tower A, Nalanda Shelter Pvt. Ltd. SEZ, Rajiv Gandhi Infotech Park, Hinjawadi, Phase-I, Pune- 411 057 Telephone:-+91-9717597428Fax:+91-9717597428 Email Id:-manish.sharma@in.panasonic.com Web-site : www.panasonic.aero Proprietorship/ Partnership/ Individual/Company Registration Private Limited CIN Date U62013PN2023FTC2219 87 07.07.2023 The proposed Unit has submitted the Term sheet for funding. Panasonic Avionics Corporation (Holding Co.) agreed to provide funding of Rs. 14580 Lakhs in the form of capital contribution through FDI for proposed SEZ unit in Pune of Panasonic Avionics India Pvt. Ltd. Unit has intimated that they will apply for IEC after LOA is received. Service Provider Information Technology in the nature ofApplication Development, Integration, Testing, Maintenance, Upgradation/Enhancement

of

existing Softwares/application, It Support Services etc (CPC- 842), Engineering and Design Services in the nature of including Prototype Development, Testing and export of the same on sample Basis (CPC -8672) Other business services in the nature of Technical Testing and Analysis Services.(CPC 8676) File No.S-SEZ-PRO0NSPL/3/2023-JDCP

2 (ii) Brief detail of the project Other Support Services in the nature of Finance & Accounting, Human Resources, Legal, Compliances etc (CPC-87909) Sales support services in the nature of Marketing,Sales support for parent companies or to other group entities ( within India or outside India) (CPC-86503) Panasonic Avionics India Private Limited(“Panasonic”) is a Private Limited Company, recently incorporated on 7th July, 2023 under Companies Act, 2013. It is a wholly owned subsidiary of Panasonic Avionics Corporationand intent to set up a new SEZ unit at Nalanda Shelter Private Limited - SEZ. Panasonic Avionics Corporation is a leading supplier in- flight entertainment in 1979 andfor more than 40 years, the company has consistently developed new innovations that enhance the passenger experience. Panasonic Avionics Corporation as the world’s leading supplier of in-flight entertainment and connectivity solutions, Panasonic Avionics has more than 200 airline customers around the world. Panasonic Holdings Corporation, formerly known as Panasonic Corp, is the parent company of Panasonic Avionics Corporation. The company manages and operates facilities and research and development centers in Japan, Asia, the Americas, and Europe. Panasonic is headquartered in Kadoma-shi, Osaka, Japan.. The proposed services to be provided from the new SEZ unit include software development, engineering and design services, other business services, other support services, and sales support services. The unit's authorized operations cover activities such as application

development,

integration,

testing, maintenance, Upgradation/ Enhancement of existing Softwares/Application, IT Support Services etc., prototype development, Testing and export of the same on sample basis,technical testing and analysis services, finance and accounting, human resources, legal Compliances, and marketing and sales support for GroupParent companies. Considering global demand their management has decided to set up operations in Nalanda Shelter Private Limited - SEZ. over an area of 1,23,122 sq. ftat 9th Office Floor (Unit No. 1,2,3 & 4).Tower A, Nalanda Shelter Pvt. Ltd. SEZ, Rajiv Gandhi Infotech Park, Hinjawadi, Phase-I, Pune- 411 057 They proposed to invest an amount of Rs. 55994.58 Lakhs for the proposed project and has projected export revenue of Rs.144118.42 Lakhs with an Foreign File No.S-SEZ-PRO0NSPL/3/2023-JDCP

3 PROJECTIONS, YEAR- WISE Investment and Details of Source of Finance Imported and Indigenous requirement of Materials and other outputs
Exchange Outgo of Rs.40262.48 Lakhs and Net Foreign Exchange of Rs. 103855.94 Lakhs with an employment of 530 employees (398 Males, 132 Females) in the block period of 5 years. S. No. Plant & Machinery Rs. In Lakhs (a) Indigenous 17363.58 Imported ( CIF Value) 38631.00 Total 55994.58 Total Project Cost(plant & machinery including IT equipment) 55994.58 (b) Details of Source(s) of finance 1.From Promoters in the form of Capital 2.Shifting of capital goods from existing vendor centre to new SEZ premises ( Zone to

Zone)(

Loan Assets,No

Separate funding required) 3.New Rack transfer from US (free of Cost, no separate funding required) 4.Internal

accruals over next 5 years 14511.08 28525.00 6520.00 6438.50 Total 55994.58 (Rs. In Lakhs) Import Indigenous (a) Capital Goods 38631.00 17363.58 (b) Raw Material, components, consumables, packing material, fuel etc. 0 0 File No.S-SEZ-PRO0NSPL/3/2023-JDCP

4 Requirement of Land/ built-up area (Area in Sq. Mtrs.) Total Employment Foreign Exchange Balance Sheet Effluent Treatment Whether Foreign Technology Agreement is Envisaged Rule provision w.r.t. SEZ Rules, 2006 Request of the company Decision required for UAC Observation of the ADC (c) Input Services 1631.48 19257.69 Total 40262.48 36621.27 i. Registered Factory & Office 0.00 ii. Warehousing/ Storage 0.00 iii. Others, Specify 0.00 Built-up area required – 11438.40sq.mtr. (1,23,122sq.ft.) Total- 530Employees (Male-398 & Females- 132) In Lakhs 1st Year 2nd Year 3rd Year 4th Year 5th Year Total Rs. In Lakhs FOB Value of Exports 18979. 93 24054. 78 28489. 62 33586. 33 39007 .76 144118 .42 Foreign Exchang e Outgo for the first five years 31322. 80 2875.0 1 1954.7 8 2019.6 0 2090. 29 40262. 48 Net Foreign Exchang e Earning (12342 .87) 21179. 77 26534. 84 31566. 73 36917 .47 103855 .94 Not applicable. No. Rule 17 & 18 of SEZ Rules, 2006 To grant confirmation to setup a new unit at Nalanda Shelter Pvt. Ltd. SEZ Approval for setting up of new unit at Nalanda Shelter Pvt. Ltd. SEZ File No.S-SEZ-PRO0NSPL/3/2023-JDCP

5 The said proposal is submitted before the Approval Committee for consideration. File No.S-SEZ-PRO0NSPL/3/2023-JDCP

1 GOVT.OF INDIA, OFFICE OF THE ZONAL DEVELOPMENT COMMISSIONER, SEEPZ-SEZ (PUNE CLUSTER)

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AGENDA NOTE FOR CONSIDERATION OF THE APPROVAL COMMITTEE

a) Proposal: -

Request by M/s. Centralogic Consultancy Private Ltd.,an IT/ITES unit located in Incubation Block, Ground Floor, Tower A, Nalanda Shelter Private Limited - SEZ, Near RGIP, Hinjewadi, Phase I, Pune 411057for revision in projections on account of addition of area to the existing area. b) Specific Issue on which decision of Approval Committee is required for : -

1. Revision in projection in terms of Rule 19(2) of SEZ Rules, 2006 on account of addition of area admeasuring 5416Sq. Ft.to the existing area of 498 Sq.ft. (i) Revision in Projection: Projections of Investment and Employment: Sr.No Item Existing Projection Total Revised Projection

Employment TOTAL Men Women Men Women 5 3 50 16 8 66 2. Investment-Plant and Machinery/Capital Goods (Rs. in lakhs) i. Indigenous (Capital Goods) 18.90 170.00 ii. Imported (Capital Goods) 3.60 33.00 Total 22.50 203.00 3. Services i. Indigenous Services 100.29 1100.00 ii. Imported Services 30.00 280.00 Total 130.29 1380.00 Approved Projection: (Rs. In Lakhs) File No.S-SEZ-PRO0NSPL/2/2023-JDCP

2 Sr.No Particulars 1st year 2nd year 3rd year 4th year 5th year Total 1. FOB Value of exports 80.00 100.00 120.00 140.00 160.00 600.00 2. Foreign Exchange outgo 6.70 5.10 6.00 7.70 8.10 33.60 3. Net Foreign Exchange 73.30 94.90 114.00 132.30 151.90 566.40 Proposed Projection: (Rs. In Lakhs) Sr.N o Particulars 1st year 2nd year 3rd year 4th year 5th year Total 1. FOB Value of exports 600.00 900.00 1150.00 1400.0 0 1500.00 5550.00 2. Foreign Exchange outgo 45.00 51.00 62.00 72.50 82.50 313.00 3. Net Foreign Exchange 555.00 849.00 1088.00 1327.5 0 1417.50 5237.00 (ii) Location / area proposed to be added: Existing address and area Area proposed to be added Total area after addition Office Suite 01, Ground Floor, Tower A, Nalanda Shelter Pvt. Limited – SEZ, Near Rajiv Gandhi Infotech

Park, Hinjewadi, Phase I, Pune 411057 Incubation Block, Ground Floor, Tower A, Nalanda Shelter Pvt Ltd – SEZ, Near

RGIP-Phase- I,Hinjewadi,Pune-411057 Incubation Block, Ground Floor, Tower A, Nalanda Shelter Pvt Ltd – SEZ, Near RGIP-Phase-I,

Hinjewadi, Pune-411057 Admeasuring area of 498 Sq. ft. Admeasuring area of 5416Sq.ft. Admeasuring

area

of 5914Sq.ft. c) Relevant Provisions: - As per First Proviso to Rule 19(2) of SEZ Rules,2006 “PROVIDED that the Approval Committee may also approve proposals for broad banding, diversification, enhancement of capacity of production, change in the items of manufacture or service activity, if it meets the requirements of rule 18” File No.S-SEZ-PRO0NSPL/2/2023-JDCP

3 d) Other Information: -  M/sCentralogic Consultancy Private Ltd., bearingLOA No. SEEPZ- SEZ/NSPL-SEZ/CCPL/14/2022-23/2106 DATED 28.02.2023 (Original LOA). located at Office Suite 01, Ground Floor, Tower A, Nalanda Shelter Pvt. Limited – SEZ, Near Rajiv Gandhi Infotech Park, Hinjewadi, Phase I, Pune 411057.  Date of Commencement: New Unit  LOA is valid upto: 27.02.2024  Reason for additional area:

Considering the Business Growth and contract with existing and proposed prospects clients, their Management has decided to apply for addition of location (66 Seats, 1 Meeting Room & IT room) located at Incubation Block, Ground Floor, Tower A, Nalanda Shelter Pvt. Ltd. – SEZ.Considering the increasing demand in the international market, they are proposing to revise their projections.  The unit has submitted the following documents with the application: i. Copies of LOAs issued till date ii. Copy of Board Resolutions iii. Letter of Intent dated 28.06.2023 duly signed by Developer e) ADC Scrutiny report:  Approval Committee may kindly consider the proposal of the unit for revision in projection on account of addition of area to the existing area in terms of Rule 19(2) of SEZ Rules, 2006. ****************** File No.S-SEZ-PRO0NSPL/2/2023-JDCP

GOVT. OF INDIA, OFFICE OF THE ZONAL DEVELOPMENT COMMISSIONER, SEEPZ – SEZ (PUNE CLUSTER)

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AGENDA NOTE FOR CONSIDERATION OF APPROVAL COMMITTEE

a) Proposal: - Application submitted by M/s. Nalanda Shelter Pvt Ltd., (Developer), located at: S. No. 128(p), 129(p), 130(p), 131(p), near Rajiv Gandhi Infotech Park, Hinjewadi, Phase I, Pune 411057 for Change in Shareholding pattern. b) Specific Issue on which decision of Approval Committee is required: - Approval of the Committee for Change in Shareholding pattern, in terms of Instruction No. 109 dated 18.10.2021, as detailed below: Existing Shareholding Pattern: Sr. No. Name of Shareholders No. of Shares Percentage (%) 01 PRSL

0 02 Amit Paranjape 831 8.31 03 MeenalParanjape 831 8.31 04 Purushottam V Paranjape (HUF) 831 8.31 05 Pushpa Paranjape 1660 16.60 06 Rahul Paranjape 831 8.31 07 Reifen Investment Services Pvt. Ltd. 831 8.31 08 Sahil Paranjape 831 8.31 09 Shashank Paranjape 846 8.46 10 Shrikant Paranjape 846 8.46 11 Varsha Paranjape 831 8.31 12 Yash Paranjape 831 8.31 Total : 10000 100 Proposed Shareholding Pattern: Sr. No. Name of Shareholders No. of Shares Percentage (%) 01 PRSPL 9998 99.98 02 Amit Paranjape

0 03 MeenalParanjape

0 04 Purushottam V Paranjape (HUF)

0 05 Pushpa Paranjape

0 06 Rahul Paranjape

0 File No.S-SEZ-PRO0NSPL/5/2022-JDCP

07 Reifen Investment Services Pvt. Ltd.

0 08 Sahil Paranjape

0 09 Shashank Paranjape (Nominee) 1 0.01 10 Shrikant Paranjape (Nominee) 1 0.01 11 Varsha Paranjape

0 12 Yash Paranjape

0 13 Nandita Paranjape

0 14 Rama Paranjape

0 Total 10000 100 c) Relevant provisions: - As per para (i) of Instruction no. 109, dated 18.10.2021, “Reorganization including change of name, Change of Shareholding pattern, business transfer arrangements, court approved mergers and demergers, change of constitution, Change of Directors, etc. may be undertaken by the Unit Approval Committee (UAC) concerned subject to the condition that the Developer/Co-developer/ Unit shall not opt out or exit out of the Special Economic Zone and continues to operate as a going concern. All liabilities of the Developer/Co-Developer/Unit shall remain unchanged on such reorganization.”… d) Other Information: -  M/s. Nalanda Shelter Pvt. Ltd., (Developer) has submitted application for following LOA No. o LOA No. F.1/14/2017-SEZ dated 31.03.2017  The Developer has submitted following documents: o Copy of LOA. o Undertaking in terms of Instruction No. 109 o Memorandum of Association.  Reason for change in Shareholding pattern: Paranjape family is a large family with nearly 16 members of the family and its HUF. The family is in business for more than three generations. Various assets of the family are held by members of the family in a manner which may create economic and control imbalance within the family members. The eldest member of the family is more than 85 years old and the two Senior Members are 65 and 61 years respectively, the family has decided to arrange its assets in an equitable manner. One of the many steps being taken by the family to resolve this is effective transfer to Nalanda shares from current holders to a company which is held equally by 04 Sons of the third generation. While doing so various inter-se liabilities were required to File No.S-SEZ-PRO0NSPL/5/2022-JDCP

be made and therefore the entire transfer is planned in three steps culminating in finally transfer to PRDPL (Paranjape Reality Spaces Private Ltd.,). ADC’s Recommendations:

Approval Committee may like to consider the proposal of Developer for Change in Shareholding pattern in terms of Instruction no. 109 issued by MOC&I.

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File No.S-SEZ-PRO0NSPL/5/2022-JDCP