Agenda for Approval Committee meeting for SEZ Pune Cluster to be held on 09 February 2024 — 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.

DATE : 09.02.2024

TIME : 04:00 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 09.02.2024

INDEX

Agenda Item No.

Subject Agenda Item No. 01: - Confirmation of the Minutes of the meeting held on 18.12.2023. Agenda Item No. 02: - Application for Approval of Revision in Projections submitted by M/s. Danfoss Technologies Pvt Ltd. (DTPL) Agenda Item No. 03: - Application for Approval of Change in Board of Directors submitted by M/s. BNY Mellon Technology Private Ltd

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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 THE APPROVAL COMMITTEE

a. Proposal: Proposal submitted by M/s. Danfoss Industries Pvt Ltd.. located at Magarpatta Township Constriction and Development 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 Projections 1 Value of Capital Goods

Indigenous 37.74 96.57

Imported 10.55 15.82

Total 48.29 112.39 2. Value of Input Services

Indigenous 255.05 255.06

Imported 47.80 268.23

Total 302.86 523.29

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

2021-22 2022-23 2023-24 2024-25 2025-26 Total FOB value of export 39.08 174.73 192.20 212.38 235.21 853.61 FE outgo 3.05 13.36 14.40 15.68 17.08 63.57 NFE 36.03 161.37 177.80 196.70 218.14 790.04

Proposed Revision in Projections: (Rs. In Cr.)

2021-22 (Actual as per APR) 2022-23 (Actual as per APR) 2023- 24 2024- 25 2025- 26 Total FOB value of export 69.13 212.96 230.64 280.35 310.48 1103.56 FE outgo 44.35 51.65 56.81 62.50 68.75 284.05 NFE 24.78 161.32 173.83 217.85 241.74 819.51

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

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. Danfoss Industries Pvt. Ltd. was granted LOA No. SEEPZ/MTDCCL- SEZ/DTPL/40/2020-21 dated 17.02.2022 • Location:Lower and Upper Ground Floor, Level 3,4,5, Lobby Level-4 in Building B7, Ground Part Plus level 1 Part in Building S 1 and Incubation Space U1,U2 ,Magarpatta Township & Development and Construction Co. Ltd.-SEZ, Hadapsar, Pune-411 013 • DCP: 02.08.2021 • LOA Valid upto: 01.08.2026 • Reason for the Revision in Projection :

The unit has submitted that, the main reason for revision in projection is as there is increase in the revenue comparably with the projection given in their initial Forex Balance Sheet, commensurately there has been an upward revision in raw material, imported components, import and domestic purchase of goods and services, etc. Further,they also mentioned that they are maintaining NFE positive status even after this increase in the inward movement and also as they have over-exceeded their projected business value. • Further, the unit has submitted Regarding increase in the Imported and Indigenous CG and Imported Services that, their company has been extracted as a part of old Eaton Group and incorporated into DIPL now, the capital equipment’s brought over in transfer sale have been assessed and were proposed to be completely updated with different technology along with new IT equipment for all employees as per DIPL norm, hence the impored and Indigenous CG have increased. They have replaced 538 old laptops with new value of INR 539.70 lacs, after this movement they have built new capabilities in materials and metrology Lab at U2 area where they procured imported and indigenous CG of INR 1124.06 lacs. • In r/o services aspect, there has been a lot of additional work requirement from their headquarters which they were not aware initially at the time of initial projections but the same is accommodated within existing manpower as per the earlier projections. Hence there is no increase in Manpower details. • The unit has enclosed the following documents along with their application:

1. Online Application -Form F3
2. Copy of LOA
3. Copy of Board Resolution
4. Copies of APRs

• 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-PRO0MTDC/8/2022-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: - Proposal submitted by M/s. BNY Mellon Technology Private 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. Pawan Gwaldas Panjwani Managing Director

Pallavi Shome Director

Srinivas Rangarajan Director 31.12.2023 4. Mark David Todd Gibbons Director

Proposed List of Board of Director: Sr. No. Name of the Director Designation Date of Appointment/ Resignation 1. Mr. Pawan Gwaldas Panjwani Managing Director 26.09.2023 2. Pallavi Shome Director 20.05.2019 3. Mark David Todd Gibbons Director 20.08.2019

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. BNY Mellon Technology Pvt. Ltd., is granted LOA NO. SEEPZ- File No.S-SEZ-PRO0MTDC/2/2022-JDCP

SEZ//MTDCCL-SEZ/ITIPL/15/2011-12/9470 dated 20.06.2011 (As amended) is located at Level-6, Tower 9 Magarpatta SEZ-, Hadapsar, Pune- 4110113. • DCP: 01.12.2011 • LOA valid till: 30.11.2026 • The Unit has submitted following documents: Copy of DIR-12 filed with ROC for the resignation of Srinivas Rangarajan Updated list of directors’ post changes in directorship Undertaking in r/o resigning director & in terms of Instruction no. 109

• Reason for change in Board of Director:

The unit has submitted that, due to the Resignation dated 31.12.2023 by Mr. Srinivas Rangarajan, Director, there is change in Board of Director.

e. 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.

File No.S-SEZ-PRO0MTDC/2/2022-JDCP