Agenda for Approval Committee meeting for Pune-Cluster to be held on 05-Dec.- 2023. — 09-9magarpatta-city-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. MAGARPATTA TOWNSHIP DEVELOPMENT AND CONSTRCTION COMPANY LTD.- SEZ, HADAPSAR, PUNE.

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: - Monitoring of Performance for M/s. Vconstruct Pvt Ltd. Unit-2 Agenda Item No. 03: - Application for Approval of Change in Board of Directors submitted by M/s. BNY Mellon International Operations (India) Pvt Ltd. Agenda Item No. 04: - Application for Approval of Change in name of the company, Board of Directors and shareholding pattern due to approved merger submitted by M/s. Danfoss Technologies Pvt Ltd. (DTPL)

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Minutes of the 105th Meeting 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 Magarpatta Township Development and Construction Co. Ltd.-SEZ, Village Hadapsar, Tal. Haveli, Dist. Pune 41l0l3' held on 19.LO.2O23 via video conference 1 ame of the SEZ atta Township Development And Construction Co. td.-sEz 2 ector T/ITES 3 eeti.,gNo lf OSth 4 ate Tts.to.zozz File No.S-SEZ-PRO0MTOCTI OI2022JOCP Members present Special Invitee Sr ame and Designation partment 1 hri Satbir Sharma pecified Officer une Cluster, SEZ, Pune Agenda ltem No, 01: Conflrmation of the Mlnutes of the 104ft meetlng held on 2L.O9.2023. After deliberation, the committee confirmed the minutes of the 1o4th meeting of Approval Committee held on 21.09.2023. Agenda ttem No. 02: Application for setting up of cafeteria with kitchen facility and appointment of vendor in the sEz unit submitted by M/s, BNY Mellon International Operations (India) Pvt Ltd. After deliberation, the committee approved the proposal of the unit for setting up of cafeteria with kitchen facility and appointment of vendor in the SEZ Unit premises, in terms of Instruction no. 95 dated l7.LO.2Ol9. as detailed below: Sr ,lame and Designation s/shri.) epartment 1 mt. Mital Hiremath une Cluster SEZ, Pune oint Development Commissioner 2 hri. Sandeep Sathe, ominee of Income Tax, Pune CIT-Circle 4, Pune 3 ri. Krishanadas Nair, ominee of DGFT, Pune DO 4 mt. Malathi l. Nair uperintendent ominee of Customs, Pune Sr. No. Facility Vendor Name Location Area in Sq.fL 1 Cafeteria Compass India Services Pvt Ltd Food Tower-9, Level-7, Magarpatta City-SEZ 2532 Kitchen 272 This approval is subiect to the following conditions: 2

File No.S-SEZ-PRO0MTDCTI OI2O22JDCP The committee noted the performance as below: The unit has achieved Export of Rs. 536.95Cr' Against the projected export of Rs. 428.62 Cr. i.e, 125.27910 in the FY 2,lg-2o i.e., last year of znd Block period (2015-16 to 2O19-2O) The unit has achieved positive NFE of Rs' 2O26.19Cr. i.e,9o.78o/o in the FY 2079-2O on cumulative basis. The unit has achieved Export of Rs. 1697.33Cr. against the projected export of Rs.1736.61Cr. i.e. 97.73o/o, in 3 years FY 2O2O'21 to 2O22-23 of 3rd Block period (2O2O-21 ro 2024-25') The unit has achieved positive NFE of Rs. 7492.79 Cr. i.e,87.91o/o in the FY 2022-23, on cumulative basis. As per SO repoft the unit has achieved employment of 1237 employees (Men- 1197, Women-34). The Committee during discussion commented on the adverse number of women employment and the Unit representative responded that their management will act on the said observation. However, meanwhile the unit has vide their e-mail dated 19.10.2023 submitted that there was an error in reporting the figure and the actual number of employees is 1231 employees i.e. as direct employment they have Men - 831, Women - 356 & as Indirect Employment they have total 34 women employees. As per their request, it is noted' Agenda ltem No. O4r Applicatlon for Change in Board of Directors submitted by M/s. EXL Services.Com India Pvt Ltd. After deliberation, the committee approved the proposal of the unit for change in Board of Directors. in terms of Instruction No. 109 dated 18.10.2021 issued by MOCI, as detailed below: Name of the Director Appointment Date 7 Mr. Baljinder Singh Sabharwal 2 Mr. Vikas Bhalla

1. The Unit and 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. The unit 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. 03: Monitoring of Performance for M/s. Amdocs Development Centre India LLP After deliberation, the committee noted the performance of the unit, in terms of Rule 54 of SEZ Rules, 2006, for following period: i. FY 2Olg-2O i.e., lastyearof 2"d Block period (2015-16 to2O19-2O) & ii. FY 2O2O-27 to ?022-23 i.e., 3 years of 3rd Block period [2020-21to 2O22-23') Sr. No

File No.S-SEZ-PROOMTDCTI OI2O22JOCP 3 r. David GubbaY 4 Bhavana Newale ChoPra 7.O5.2027 5 r. Sandeep Tibrewal 7.O6.2023 TheapprovalissubjecttotheconditionsaslaiddowninlnstructionNo.l09,as applicable, issued bY MOC&I a'seamlesscontinuityofthesEzactivitieswithunalteredresponsibilitiesand obligations for the altered entity; b. Fulfilment of alt eligibility criteria applicable, including security clearances etc. by the altered entity and its constituents; c.ApplicabilityofandcompliancewithallRevenue/CompanyAffairs/SEBIetc. ectTnutes which regulate issues like capital gains' equity change' transfer' taxability etc. d. Full finincial details relating to change in equity/merger, demerger, amalgamationortransferinownershipetc.shallbefurnishedimmediatelyto Member(lT&Rl,cfOT,OepartmentofRevenueandtothejurisdictional AuthoritY. e. The assessing gain/loss aris amalgamation, eligibilitY for d f. The applicant all the records ty or merger, demerger, may be aPPlicable and the lncome Tax AcL 1961. overnment laws, including those relating to lease of land, as applicable' g. The applicant shall furnish details of PAN and iurisdictional assessing office of the unit to CBDT. h. The applicant shall be recognized by the new name or such arrangement in officer shall have the right to assess the taxability of the ing out of the transfer of equi transfer in ownershiPs etc. as eduction under relevant sections of shall complY with relevant State G Meeting ended with a vote of thanks to the Chair' ]o 'l o'- o (Raiesh Kumar Mishra, IRS) Chairman-cum- DeveloPment Commissioner

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: Monitoring of the performance of M/s. vConstruct Pvt. Ltd-Unit-2 an IT/ITES unit located in Magarpatta City-SEZ, Pune, for the period from 2018-19 to 2022-23 i.e., 1st block period. b) Specific Issue on which decision of Approval Committee is required: Monitoring of the performance of the unit for the period from 2018-19 to 2022-23 i.e., 1st block period, in terms of Rule 54 of SEZ Rules, 2006. c) Relevant provisions: - As per Rule 54 of SEZ Rules, 2006 “Performance of the Unit shall be monitored by the Approval Committee as per the guidelines given in Annexure appended to these rules”. I. Approved export Projections for 1st Block Period: (Rs. in Cr.)

2018-19 2019-20 2020-21 2021-22 2022-23 Total FOB Export 1.63 39.17 73.11 87.44 100.00 301.35 FE Outgo 1.26 2.99 0.44 0.42 29.54 34.65 NFE 0.37 36.18 72.68 87.02 70.46 266.70 (A) Performance as compared to projections: (Rs. In Cr.) Year Export F.E. OUTGO Projected Actual Raw Material (Goods/Services) C.G. import Other outflow Projecte d Actua l Projecte d Actual Actual 2018- 19 1.63 5.44 0.00 0.00 5.64 0.22 0.03 2019- 20 39.17 48.45 0.36 3.60 2020- 21 73.11 90.79 0.12 6.16 2021- 22 87.44 94.09 0.00 1.90 2022- 23 100.00 79.31 5.14 0.40 Total 301.35 318.08 0.00 0.00 5.65 5.84 12.09 (A) Cumulative NFE Achieved (Rs. In Lakhs) Year Cumulative NFE achieved Cumulative NFE in % 2018-19 5.39 99.13 2019-20 50.18 93.12 2020-21 134.75 93.13 2021-22 226.87 95.01 File No.S-SEZ-MONT0MTDC/8/2022-JDCP I/3302/2023 50

2 2022-23 305.19 95.95 (B) Other Information: LOA No. & Date SEEPZ/MTDCCL- SEZ/VCPL2/33/2018-19/42

dated 18.07.2018. Location of Unit 5th Floor, Level-5, Tower B1, Magarpatta Township Development and Construction Company Ltd-SEZ, Magarpatta City, Hadapsar, Pune- 411013. Validity of LOA 09.12.2023 Item(s) of manufacture/ Services IT/ITES Date of commencement of production 10.12.2023 Execution of BLUT Outstanding Rent dues NA Labour Dues NA Validity of Lease Agreement 17.07.2028 Pending CRA Objection, if any NA Pending Show Cause Notice/ Eviction Order/Recovery Notice/ Recovery Order issued, if any NA a) No. of employees as on FY 2022-23 445 employees (Men-312, women-133) Area allotted (in sq.ft.) 63,415 Sq.ft. Area available for each employee per sq.ft. basis (area / no. of employees) 91.11sq.ft. Investment till date Building NA Plant & Machinery 31.38 Cr Quantity and value of goods exported under Rule 34 (unutilized goods) NA Value Addition during the monitoring period NA Whether all the APRs being considered now has been filed well within the time limit, or otherwise. If no, details of the Year along with no of days delayed to be given. Yes I/3302/2023 51

3 The Specified Officer vide letter dated 30.11.2023 has reported as under: A. EXPORT DETAILS (Fig. in Cr.) Year/Period Figures reported in APR (FOB Value) Figures as per Softex/Customs Records Difference if any Reason for Difference/Remark 18-19 5.44 5.43 0.01 Difference of Rs 0.01 is on account of exchange rate variation (positive), as for the purpose of SOFTEX, exchange rate prevailed on the date of filling of SOFTEX is being considered and for APR, exchange rate prevailed on the date of invoice is being considered. 19-20 48.45 49.48 -1.03

1. Difference of Rs 1.03 is on account of exchange rate variation (Negative), as for the purpose of SOFTEX, exchange rate prevailed on the date of filling of SOFTEX is being considered and for APR, on the date of invoice is being considered. 20-21 90.79 91.05 -0.26 During the year Unit have raised Credit Note of Rs. 0.20 Cr. due to excess billing in some cases. Balance difference of Rs. 0.06 Cr. is on account of exchange

rate variation(Negative), as for the purpose of SOFTEX, on the date of filling of SOFTEX

is

being considered and for APR, on the date of invoice is being considered. 21-22 94.09 94.76 -0.67 During the year Unit I/3302/2023 52

4 have raised Credit Notes of Rs. 0.61 Cr. due to excess billing in some cases. Balance difference of Rs. 0.06 Cr. is on account of exchange rate variation (Negative), as for the purpose of SOFTEX, on the date of filling of SOFTEX

is

being considered and for APR, on the date of invoice is being considered. 22-23 79.31 81.23 -1.92 During the year Unit have raised Credit Notes of Rs. 0.57 Cr. due to excess billing in some cases. Balance difference of Rs. 1.35 Cr. is on account of exchange rate variation (Negative), as for the purpose of SOFTEX, on the date of filling of SOFTEX

is

being considered and for APR, on the date of invoice is being considered. B. IMPORT DETAILS (Capital Goods including procurement done on IUT (from SEZ, EOU, STPI, EHTP) basis. (Fig. in Cr.) Year/Period Figures in Rs. reported Figures in Rs. as per Difference in Rs. if any Reason for Difference/Remar I/3302/2023 53

5 in APR (CIF Value) NSDL/Custom s Records k 18-19 0.22 0.22 0.00

19-20 0.36 0.36 0.00

20-21 0.12 0.12 0.00

21-22 0.00 0.00 0.00

22-23 5.14 5.14 0.00

Yearly value of imports as per APR arrived after considering the cumulative value declared in the last year and current APR. C. BLUT DETAILS 1 Value of BLUT Executed (Duty foregone) (including for CG / Raw Material / Services) Value of Additional BLUT executed

Year: Date of acceptance

BLUT amount: TOTAL value of BLUT Executed BLUT Amount 22.98 Cr. (Fig in Cr.) 2 Total Duty Foregone on goods & services procured (Category- wise BLUT value utilized separately for imported and indigenous goods and services) This should be based on BLUT

worksheet which provides for estimated value and duty

foregone separately for each category

of procurement. (Fig in Cr.) Year Import Duty Forgone (in Rs.)

Importe d Services duty forgone (in Rs.) Indigen ous Goods Duty Forgone (in Rs.) Indigeno us Services Duty Forgo Ne (in Rs.) Total (in Rs.) 2018- 19 0.07

0.36 1.06 1.49 2019- 20 0.11

0.52 2.95 3.58 2020- 0.02

0.23 1.46 1.71 Date

of acceptance Goods (in Rs.) Services (in Rs.) 27-07-2018 2.99

15-11-2019

18.54 15-02-2023 1.10 0.35 Total 4.09 18.89 I/3302/2023 54

6 21 2021- 22

0.51 1.63 2.14 2022- 23 0.01

0.82 1.93 2.76 Total 0.21

2.45 9.03 11.69 3(i) Employment made as on date (as on end of block period / year up to which monitoring is being done) Year Men Women Total 2022-23 312 133 445 (j) Details of pending Foreign Remittance beyond Permissible period, if any (as on 31.03.2022) To cross-check the same and verify whether necessary permission from AD Bank / RBI has been obtained There is no foreign remittance pending beyond permissible period (k) Whether all softex has been filed for the said period. If no, details thereof. SO to also check whether unit has obtained

Softex condonation from DC office / RBI and if approved, whether they have filed such pending Softex. Softex has been filed till Mar-23. No case of filing condonation noticed. (l) Whether all Softex has been certified, if so till which month has the same been certified. If not, provide details of the Softex and reasons

for All the Softex filed have been certified for the period from 18-19 to 22-23. I/3302/2023 55

7 pendency. (m) Whether unit has filed any request for Cancellation

of Softex No (n) Whether

any Services provided in DTA

/ SEZ/EOU/STPI etc. against payment in INR in r/o IT/ITES Unit during the period. If

yes,

details thereof (year wise details

to

be provided) No such case noticed. (o) SO to verify and certify whether the unit has updated the BLUT ledger Module in SEZ Online. Up-loading of the BLUT Module on SEZ online Portal Kept in abeyance as per office order No. 02/2023 dated 16-03-2023. (p) Has the unit cleared any Capital Goods procured duty free in DTA against payment of Duty, or otherwise? Full details to be provided along with value of assets and duty discharged No such case noticed

(q) Is the unit sharing any

of

their infrastructure with other units or are utilizing infrastructure

of another unit in the same or other SEZ? If so, details thereof, including the details of the unit with No. The unit is not sharing any of its in-frastructure with other units or utilizing another unit’s infrastructure in the same or other SEZ. I/3302/2023 56

8 whom the sharing is being made, and the payment terms If

approval

for sharing of common infrastructure has been obtained from UAC / DC office, the date of UAC / Approval letter to be indicated (r) Whether all DSPF for

services procured during the said

monitoring period

under consideration has been filed by the unit and whether the same has been processed

for approval by the SO Office. DSPF filed online for services procured during the period October, 2019-20 to 22-23 has been filed and processed. (s) Whether unit has filed

all

DTA procurement w.r.t. the goods procured by them during the monitoring period for the relevant period. If no, details thereof As per the record, DTA filed on SEZ Online System by the unit, have been processed and approved till date. (t) Details

of

the request IDs pending for OOC in respect of DTA procurement on the date of submission

of monitoring report As per the record on SEZ Online, no Out of Charge is pending. (u) Has the unit set up any cafeteria / canteen / food court in unit premises? Yes. The Unit had set up Dry pantry area but has not obtained approval from the DC office. No duty benefits are availed on the goods utilized in the said pantry area. I/3302/2023 57

9 If yes, whether permission

from UAC / DC office has been issued, or otherwise office has been issued, or otherwise Whether unit has availed any duty paid

goods

/ services for setting up such facility? If yes, whether unit has

discharged such duty / tax benefit

availed? details to be given including amount of duty / tax recovered or yet to be recovered (v) Whether

any violation of any of the provisions of law has been noticed / observed by the Specified

Officer during the period under monitoring No such case noticed ADC’s observations:  The unit has achieved export of Rs. 318.08 Cr. against the Projected export of Rs. 301.35 Cr. in the FY 2022-23 of 1st Block period i.e., 105.55 % on cumulative basis.  The unit has achieved NFE of Rs. 305.19 Cr i.e, 95.95% on cumulative basis in the FY 2022-23 i.e., last year of 1st block period.  As per the SO Report the unit has achieved employment of 445 employees (Men-312, women-133) in FY 2022-23  Approval Committee may kindly to monitor the performance of the unit for the period from 2018-19 to 2022-23 i.e., 1st block period, in terms of Rule 54 of SEZ Rules, 2006. I/3302/2023 58

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. BNY Mellon International Operations (India) Pvt.Ltd. IT/ITES unit located in Magarpatta- SEZ for Change in the Board of Director.

b. Specific Issue on which decision of Approval Committee is required: -Approval of the Committee for Change in Board of Director, in terms of Instruction No. 109 dated 18.10.2021, as detailed below:

Existing List of Board of Director: Sr. No. Name of the Director Designation Cessation/Resignation Date 1. Mr. Sudish Panicker Lambodara Managing Director

Mr. Nitin Chandel Director 15.09.2023 3. Mr. Francis Jos G Braeckevelt Director

4 Mrs.Joanne Elisabeth Cash Director

5 Mrs.Janet Menezes Additional Director

6 Mr. Rajiv Bhatnagar Director

Proposed List of Board of Director: Sr. No. Name of the Director Designation 1. Mr. Sudish Panicker Lambodara Managing Director 2. Mr. Francis Jos G Braeckevelt Director 3. Mrs.Joanne Elisabeth Cash Director 4. Mrs. Janet Menezes Additional Director 5. Mr. Rajiv Bhatnagar Director

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 File No.S-SEZ-PRO0MTDC/11/2022-JDCP

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. BNY Mellon International Operations (India Pvt.Ltd is granted LOA NOSEEPZ/MTDCCL-SEZ/BMIOPL/2022-23 Dated 26.08.2022 is located at Level-7, Tower 9 Magarpatta SEZ-, Hadapsar, Pune-4110113. • DCP: 23.08.2023 • LOA valid till:22.08.2023 • The Unit has submitted following documents: Online Application Updated list of directors’ post changes in directorship Form DIR 12 for Resigned Director with ROC along with its challan Undertaking in terms of Instruction no. 109 • Reason for change in Board of Director:

The unit has submitted that, due to the Resignation dated 15.09.2023 submitted by Mr. Nitin Chandel, Director.

d. ADC’s Recommendation:

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

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File No.S-SEZ-PRO0MTDC/11/2022-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. Danfoss Technologies Pvt Ltd. IT/ITES unit located in Magarpatta- SEZ for Change in name of the company, Board of Directors and shareholding pattern due to approved merger.

b. Specific Issue on which decision of Approval Committee is required: -Approval of the Committee for change in Name of the company from M/s. Danfoss Technologies Pvt. Ltd. (DTPL) to M/s. Danfoss Industries Pvt Ltd (DIPL), Change in Board of Directors and Shareholding pattern, in terms of Instruction No. 109 dated 18.10.2021, as detailed below:

List of Board of Directors of DTPL (Before Merger): Sr. No. Name of the Director Designation 1. Ravichandran Purushothaman Director 2. Venkatraman Muralidar Director

List of Board of Directors of DIPL (After Merger): Sr. No. Name of the Director Designation 1. Ravichandran Purushothaman Director 2. Venkatraman Subramaniam Muralidar Director 3. Torben Jessen Christensen Director 4. Anders Stahlschmidt Director 5. Rajeev Rajan Additional Director

Shareholding pattern of DTPL Before merger: Sr. No Name of Shareholder No. of equity Shares Face Value per Share % of shareholding 1 Danfoss Industries Pvt Ltd. 518,63,999 10 99.99% 2 Venkatraman Subramaniam Muralidar 1 10 0.01%

Total 518,64,000

100%

Shareholding pattern of DIPL after Merger: File No.S-SEZ-PRO0MTDC/8/2022-JDCP

Sr. No. Name of Shareholders No. of equity shares Face value per share % of Shareholding 1 Danfoss International A/S 963,35,499 10 96.24% 2 FVacon OY, Finland 14,32,060 10 1.43% 3 Danfoss AB, Sweden 65 10 0.00% 4 Danfoss A/S 589 10 0.00% 5 Sondex Holding A/S 23,34,836 10 2.33%

Total 10,01,03,049 100%

Sr. No Name of the preference Shareholder No. of preference shares Face Value per share %

of Shareholding 1 Vacon OY, Finland 29,45,000 10 100%

Total 29,45,000

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. Danfoss Technologies Pvt. Ltd. (DTPL) is granted LOA No. SEEPZ/MTDCCL-SEZ/DTPL/40/2020-21 dated 17.02.2022 is located at B7- Lower and Upper ground Floor, Level 3,4,5 Lobby Level-4, S1-ground part plus level 1, Incubation Space U1, U2, 130P, 138P, 139P, 140P, 141P, Magarpatta Township Development and Construction Company Ltd-SEZ, Hadapsar, Pune-411013. • DCP: 02.08.2021 • LOA valid till:01.08.2026 • The Unit has submitted following documents: Online Application Updated list of directors’ post changes in directorship Confirmation order of scheme of Amalgamation issued by Regional director (Form No. CAA.12) Undertaking in terms of Instruction no. 109 • Reason for change in Board of Directors and shareholding pattern:

The unit has submitted that, the aim to consolidate two entities into one for focused growth, operational efficiency and integration synergies. Benefits include economics of scale, managerial and technical expertise and pooling of resources for cost efficiency. The amalgamation also streamlines technology capabilities, reduces shareholding layers and creates a platform for future business activities, enhancing overall efficiency and control. The goal is to bring about operational efficiencies, reduce administrative costs and provide File No.S-SEZ-PRO0MTDC/8/2022-JDCP

substantial growth opportunities through effective utilization of resources.

d. ADC’s Observation: • Approval Committee may kindly consider the proposal of the unit for Change in name of the company, Board of Directors and shareholding pattern due to approved merger, in terms of Instruction no. 109 issued by MOC&I.

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File No.S-SEZ-PRO0MTDC/8/2022-JDCP