Agenda for Approval Committee meeting for Pune-Cluster to be held on 05-Dec.- 2023. — 08-8embassy-pune-techzone-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. EMBASSY PUNE TECHZONE PVT. LTD.-SEZ

Via Video Conferencing

DATE : 05.12.2023

TIME : 11:00 A.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 05.12.2023

INDEX

Agenda Item No.

Subject

Agenda Item No. 01: - Confirmation of the Minutes of the meeting held on 19.10.2023 Agenda Item No. 02: - Application for Approval of Revision in Projections submitted by M/s. Connectwise LLP Agenda Item No. 03: - Application for Approval of Change in Directors/ Key Managerial Personnel(KMP) submitted by M/s. Kyndryl Solutions Pvt. Ltd.

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Minutes of the 89ft Meeting of the Approval Committee held under the Chairmanship of Zorld. Development Commissioner SEEYZ-SEZ' Mumbai for Sector Specifrc Special Economic Zone for IT/ITES of M/s. Embassy Pune TechZone Rrt. Ltd.-SEZ, Pune, held on !9.1O.2O23 via video conferencing s. Embassy Pune TechZone Rrt. Ltd.-SEZ [["me of the SEZ /ITES 2 Fe"tor gth eeting No. g t9.ro.2023 E["t" EaEg File No.S-SEZ-MINSOEPTP/1 /20224OCP Members present Special Invitee Sr ame and Designation epartment 1 hri Satbir Sharma e Cluster, SEZ, Pune ecified Ollicer After deliberation, the Committee confrrmed. the minutes of the 88s Approval Committee meeting held on 21.09.2023. Agenda Item No. O2: Application for Approval to l:ase out built-uP space for o1>-en .irt 6"oa Srall) to vendor to provide food facility irl SEZ premises submittcd by M/s. Embassy Pune TechZone Rrt Ltd.-SEZ (Developer). Before discussing agenda, chairman briefed the committee that, clarification was sought from MOC&I in respect to applicability of the Rule 11(5) of SEZ, Rules, 2OO6 vis a vis a unit or multiple units. In response vide letter dated 04.10.2023, the MOC&I has clarifred that, "as per Rule 1 1(5) of SEZ Rules, 2006 read harmoniously with Instruction No. 5O dated 15.03.2010, the facility developed by Developer/Co- Sr ame and Designation epartoent /shd. 1 mt. Mital Hiremath e Cluster SEZ, Pune oint Develop ment Commissioner 2 hri. Sandeep Sathe, ominee of Income Tax, Pune CIT-Circle 4, Pune 3 hri. Krishanadas Nair, ominee of DGFT, Pune 4 mt. Malathi J. Nair uperintendent ominee of Customs, Pune Agenda Item No.01: Confrmation of Minutes of the 88tr meeting held on 21.O9.2023

Developer is meant for use of all units of the zore, lt does not restrict use of facility for any particular unit only which would render such facilities unviable." After defiberation, the committee approved the proposal of the developer to l€ase out built-up space for open cart (Food star) to vendor to provide food facility in SEZ premises, in terms of Rule 1 l (5) of SEZ Rules, as detailed below: The unit in last year i.e.,2Ol7-18 of 2nd Block period has achieved export of Rs.1122.93Cr against the projected export ofRs.1O33.29Cr. i.e., lOS.AZo/o The unit has achieved NFE ofRs. 3862.3S i.e.,7B.ZO%o on cumulative basis in FY 2017-18. The unit in 2 years i.e., FY 2018-19 atd 2Ot9-2O of3rd Block period has achieved export of Rs. 2324,5OCr, as same as projected. HencJ they have achieved 100% export against the projections. The unit has achieved NFE ofRs. 1956.34Cr. i.e.,84.160/o in Fy 2019_20 on cumulative basis. The unit has achieved emplo5rment of 7888 employees (Men-4610, Women_ 3278). This approval is subject to the following conditions:

1. The Service Provider will not be eligible for any exemptions, drawback, concessions or any other benefits available under Section 7 or Section 26 of the SEZ Act for creating or operating such facilities.
2. Developer and Service provider shall adhere all the statutory compliances such as Fire NOC and other clearances required for setting up / running of such facility.
3. The facility will be for exclusive use of the employees of the units and the Developer. Agenda Item No. O3: Monitoring of performaace for M/s. IBM India Pr/t Ltd. After deliberation, the committee noted the performance of the unit, in terms of Rule 54 of SEZ Ru1es, 2006, for following period: i, Fy. 2017-18, last year of2nd Block period (2013_14 b 2077 _t8l ii. FY 2018-19 to 2Ot9-2O,2 years of3rd Block period (2018_19 to 2022_23r, The Committee noted the performance as below: Sr. No. Name of the Vendor Ipcation Area 1 M/s. Indo Iokyo Cafe Ground floor of Block I &2 (Colorado and Mississippi), Embassy Pune TechZone R/t Ltd.-SEZ 80sq.ft File No.S-SEZ-MINS0EPTP/1/2022-JOCP

File No.S-SEZ-MINS0EPTP/1 /2022-JDCP Meeting ended with a vote of thanks to the Chair. \D 7D' (Rqjesh Kumar Mishra, IRS) Chairman-cum- Development Conrmissioner

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: Proposal submitted by M/s. Connectwise LLP. located at Embassy TechZone Pvt. Ltd. -SEZ, for approval of Revision in Projections.

b. Specific Issue on which decision of Approval Committe is required: Approval of the Committe for Revision in projection, in terms of Rule 19 (2), of SEZ Rules, 2006, as detailed below:

A. Investment Projections: (Rs. In Cr.)

Sr Item Approved projections Revised projection for the full block period 1 Value of Capital Goods

Indigenous 15.10 15.10

Imported 7.50 1.00

Total 22.60 16.10 2. Value of Input Services

Indigenous 42.66 42.66

Imported 0.49 0.85

Total 43.15 43.51

B. Existing Projections: (Rs.in Cr.)

2022-23 2023-24 2024-25 2025-26 2026-27 Total FOB value of export 115.15 124.83 135.14 143.18 156.46 674.75 FE outgo 7.48 6.90 7.61 8.36 8.25 38.61 NFE 107.67 117.92 127.53 134.81 148.21 636.14

Proposed Revision in Projections: (Rs. In Cr.) File No.S-SEZ-PRO0EPTP/5/2022-JDCP

2022-23 (Acual) 2023-24 2024-25 2025-26 2026-27 Total FOB value of export 102.36 124.83 135.14 143.18 156.46 661.96 FE outgo 7.00 7.16 43.59 15.53 15.57 88.85 NFE 95.36 117.67 91.55 127.65 140.88 573.11

c. Relevant Provision: As per 1st proviso to Rule No.19(2) of SEZ Rules, 2006 “Provided that the Approval Committee may also approve proposals for broadbanding, diversification, enhancement of capacity of production, change in the items of manufacturing or service capacity, if it meets the requirements of rule 18”.

d. Other Information: • M/s. Connectwise LLP. was granted LOA No. SEEPZ/PEPPL- SEZ/CMSPL/22/2017-18/10644 Dated 02.06.2017 • Location: block 1.5(Rhnie), 5th Floor, Wing-A Embasy Tech Zone, RGIP, Phase-II, Hinjawadi, Pune-411057. • DCP: 01.08.2017 • LOA Valid upto: 31.07.2027 • It is to submit that, the performance of the unit was monitored by the Approval committee in its meeting held on the 28.06.2022. The performance was placed before the committee for 4 years i.e., 2017-18 to 2020-21 of the 1st Block Period from 2017-18 to 2021-22 in terms of Rule 54 of SEZ Rules, 2006 and noted that the unit has achieved positive NFE of Rs. 173.02 Crores on cumulative basis with employment of 545 during the first four financial years i.e., from FY 2017-18 to 2020-21. • Reason for increase in Foreign exchange Outgo value: The unit has submitted that, Operation were started in 2017 and Unit had never remitted profit to partners in the past and now they wishes to start remitting profit on yearly basis as per global process, therefore, request is being submitted for approval for revision in Projections. • The unit has submitted bifurcation of the increasing FE outgo as detailed below:
(Rs. In Cr.)

Description 2022-23 (Actual) 2023- 24 2024- 25 2025- 26 2026- 27 Total Import of Goods 0.00 0.00 0.40 0.30 0.30 1.00 Import of Services and other FE outgo 0.00 0.16 0.19 0.23 0.27 0.85 Proposed
Dividend to be Distributed 7.00 7.00 43.00 15.00 15.00 87.00 Total 7.00 7.16 43.59 15.53 15.57 88.85

File No.S-SEZ-PRO0EPTP/5/2022-JDCP

• The unit has enclosed the following documents along with their application:

1. Copy Letter of approval
2. Copy of renewal Letter of approval
3. Copy of partners circular resolution for Authorized signatory
4. Copy of Revised Form F3
5. Copy of Form F1

• ADC’s observation: The Approval Committee may kindly consider for revision of Projections for the current Block in terms of Rule 19(2) of SEZ Rules, 2006.

File No.S-SEZ-PRO0EPTP/5/2022-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. Kyndryl Solutions Pvt. Ltd. an IT/ITES unit located in M/s. Embassy Pune TechZone Pvt. Ltd.- SEZ for Change in Directors/Key Managerial Personnel (KMP).

b. Specific Issue on which decision of Approval Committee is required: -
Approval of the Committee for change in Directors/KMP, in terms of Instruction No. 109 dated 18.10.2021, as detailed below:

Change in Directors/KMP:

Sr. No List of Directors/KMPs before change List of Directors/KMPs after change 1. Mr. Lingraju Sawkar, Director & Managing Director Mr. Lingraju Sawkar, Director & Managing Director 2. Mr. Subash Venkitaraman, Additional Director Mr. Subash Venkitaraman, Additional Director 3. Ms. Sukanya Choudhury, Additional Director Ms. Rajita Singh (Add. Director) 4. Ms. Ramya Bhatt, Company Secretary Mr. Pradeep Kumar Saha, Company Secretary

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. Kyndryl Solutions Pvt. Ltd. has been granted LOA No. SEEPZ- SEZ/EPTPL-SEZ/32/2021-22 dated 27.08.2021 • Location of the Unit: Ground Floor to 3rd Floor, Wing-A, Plot No-3, Embassy Pune TechZone Pvt. Ltd.-SEZ/RGIP, Hinjewadi, Phase-II, Pune-411 057. • Date of commencement of authorized operation: 18.09.2021 • LOA valid up to: 17.09.2026 File No.S-SEZ-PRO0EPTP/4/2022-JDCP

• Reason for Change in Directors and KMP:

Due to Resignation of Ms. Sukanya Choudhury, Director and Appointment of Rajita Singh, Additional Director and Appointment of Mr/ Pradeep Kumar Saha as Key Managerial Personnel (KMP).

• The unit has enclosed following documents with their, application: Board Resolutions in respect of change in Directors/KMPs Copy of ROC filling submitted by the Company. PAN Card of New Director and KMP Adhar Card of New Director DIR-12 of New and outgoing Directors. Undertaking in r/o outgoing director and following conditions of Instruction-109

d. ADC’s Recommendation:

• Approval Committee may kindly consider the proposal of Unit for Change in Board of Directors /KMP, in terms of Instruction no. 109 issued by MOC&I.

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File No.S-SEZ-PRO0EPTP/4/2022-JDCP