16/12/2023 — 06-7-nalanda-sez-agenda-18122023

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.

DATE : 18.12.2023

TIME : 11:30 A.M.

VENUE : SEEPZ, SEZ OFFICE, PUNE

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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 18.12.2023 INDEX

Agenda Item No.

Subject

Agenda Item No. 01 :- Confirmation of the Minutes of the meeting held on 05.12.2023 Agenda Item No. 02 :- Application for approval of Change in Shareholding pattern in r/o Nalanda Shelter Pvt Ltd. (Developer)

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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: - Proposal submitted by M/s. Nalanda Shelter Pvt Ltd. (Developer) located at Nalanda Shelter Pvt Ltd – SEZ for Change in Shareholding pattern.

b. Specific Issue on which decision of Approval Committee is required: - Approval 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 Number of Shares Percentage (%) 01 PRSPL 9,998 99.98 02 Shashank Paranjape (Nominee) 1 0.01 03 Shrikant Paranjape (Nominee) 1 0.01

Total 10,000 100.00

Proposed Shareholding Pattern: Sr. No. Name of Shareholders No. of Shares Percentage (%) 01 Ascendas Property Fund (India) Pvt. Ltd., 9999

99.99 02 Nominee of Ascendas Property Fund (India) PTE. Ltd. 1 0.01

TOTAL : 10,000 100%

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

• M/s. Nalanda Shelter Pvt Ltd. Developer has submitted application for following LOA No. • (1) F.1/14/2017-SEZ Dtd. 31.03.2017. • Developer has submitted following documents: i. Undertaking submitted by the Developer M/s Nalanda Shelter Pvt. Ltd.-SEZ. ii. Memorandum of Association of M/s Nalanda Shelter Pvt Ltd. iii.Article of Association of M/s Nalanda Shelter Pvt Ltd. iv.Undertaking dated 05.12.2023 submitted by M/s Ascendas Property Funds (India) Pvt Ltd., d. Reason for change in Shareholding pattern:

• The developer is in the process of transferring shares to Ascendas Property Fund (India) Ptd. Ltd. In light of this the parties have decided to transfer ownership of the shares to Ascendas Property Fund (India) Pte. Ltd. • The NSPL Business promoters and shareholders are actively involved in land acquisition and property development. Ascendas Property Fund (India) Pvt Ltd, specializes in investing in income-generating assets and effectively manages leased premises. Both parties have fulfilled their responsibilities and the asset is either completed or nearing completion.

e. ADC’s observation:

• Approval committee may kindly consider the proposal of the 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