Agenda for Approval Committee meeting for SEZ Pune Cluster scheduled on 17-January 2025. — 10-9-syntel-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. SYNTEL INTERNATIONAL PVT. LTD. SEZ PUNE.

Via Video Conferencing

DATE : 17.01.2025

TIME : 11:00 A.M.

---

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 17.01.2025

INDEX

Agenda Item No.

Subject

Agenda Item No. 01: - Confirmation of the Minutes of the meeting held on 16.08.2024 Agenda Item No. 02: - Action taken report for the Minutes of the meeting held on 16.08.2024 Agenda Item No. 03: - Monitoring of Performance for M/s. Syntel Pvt Ltd (LOA 05) Agenda Item No. 04: - Application for approval of Change in Board of Directors by M/s. Syntel International Pvt Ltd (Developer) and 5 of its units

---

Minutes of the 51st Meeting of the Approval Committee held under the Chairmanship of Zonal Development Commissioner SEEPZ-SEZ for Sector Specific Special Economic Zone for IT-ITES of M/s. Syntel International Pvt. Ltd., Pune held on 16.08.2024. 1 Name of the SEZ M/s. Syntel International Pvt. Ltd., Pune. 2 Sector IT-ITES 3 Meeting No. 51st
4 Date 16.08.2024

Members present

Sr Name and Designation (S/Shri.) Department 1 Smt. Mital Hiremath Joint Development Commissioner Pune Cluster SEZ, Pune 2 Shri Shailesh Rajput, Joint Director of Industries, Pune Region Nominee of Govt. of Maharashtra 3 Smt. Pranoti Sanjay Sankpal, Asst. Commissioner, IT Nominee of Income Tax, Pune 4 Shri. Krishnadas Nair FTDO Nominee of DGFT, Pune 5 Smt. Manisha Binoy, Superintendent Nominee of Customs, Pune

Special Invitee

Sr Name and Designation Department 1 Shri. Shambhu Dayal Meena, Specified Officer SEEPZ-SEZ, Pune Cluster

Agenda Item No.01: Confirmation of Minutes of the 50th meeting held on 05.07.2024.

The Committee, after deliberation confirmed the minutes of the 50 th meeting of the Approval Committee held on 05.07.2024.and directed from next meeting MoM should be put up with action taken report.

Agenda Item No. 02: Monitoring of Performance for M/s. State-Street Services Pvt Ltd (LOA 25).

After deliberation, the committee noted the performance of the unit, in terms of Rule 54 of SEZ Rules, 2006, for:

a. Last year of the 3rd block period i:e 2022-23, The Unit has achieved export revenue of Rs. 12.73 Crores as SEEPZM-SSEZ0MINF(SIPL)/1/2024-O/o JDCP-SEEPZ SEZ I/67274/2024

against projected export of Rs. 7.45 Crores in FY 2022-23. The unit has achieved NFE of Rs. 224.76 Crores i.e, 93.46% on cumulative basis in the FY 2022-23

b. First 2 years of 4th block period i:e 2023-24 and 2024-25 ( Up to June 2024)

The unit has achieved export of Rs. 8.01 Crores against the Projected export of Rs. 16.04 Crores on cumulative basis in 2024- 2025 (Up to June 2024). The unit has achieved NFE of Rs. 6.69 Crores i.e, 83.47% on cumulative basis in the FY 2024-25. The unit has achieved employment of 21 employees (Men-16, women-5) in FY 2024-25. The Committee directed the Unit to file the pending DSPF at the earliest. Agenda Item No. 03: Monitoring of Performance for M/s. State-Street Services Pvt Ltd (LOA 04)

After deliberation, the committee noted the performance of the unit, in terms of Rule 54 of SEZ Rules, 2006, for:

a. 5th year of 2nd Block year FY 2022-23

The unit has achieved export of Rs. 104.61 Cr. against the Projected export of Rs. 38.71 Cr in FY 2022-23. The unit has achieved NFE of Rs. 351.93 Cr. i.e, 96.65% on cumulative basis in FY 2022-23. b. First 2 years of the 3rd block period i:e FY 2023-24 and FY 2024-25 (Up to June 2024). The Unit has achieved export revenue of Rs. 113.52 Crores as against projected export of Rs. 141.51 Crores on cumulative basis in FY 2024-25 (up to June 2024). The unit has achieved NFE of Rs. 104.31 Cr. i.e, 91.89% on cumulative basis in the FY 2024-25 (up to June 2024). The unit has achieved employment of 556 employees (Men-368, women-188) in FY 2023-24. The Committee directed the Unit to file the pending DSPF at the earliest.

Agenda Item No. 04: Application for approval of Change in Board of SEEPZM-SSEZ0MINF(SIPL)/1/2024-O/o JDCP-SEEPZ SEZ I/67274/2024

Directors by M/s. Syntel International Pvt Ltd (Developer) and 5 of its units.

After deliberation, the committee approved the proposal of the developer and 5 units for change in Board of Directors, in terms of Instruction No. 109 dated 18.10.2021 issued by MOCI, as detailed below:

Approved List of Board of Directors: Sr. No Name of Directors Designation 1 Mr. Rakesh Khanna Director 2 Mr. Murlidhar Reddy Samala Director

The approval is subject to the conditions laid down in Instruction No. 109 issued by MOC&I.

Agenda Item No. 05: Application for approval of Change in Designated Partners for M/s. Syntel Software LLP (LOA 07 & LOA 08):

After deliberation, the committee approved the proposal of the 2 units for change in Designated Partner, in terms of Instruction No. 109 dated 18.10.2021 issued by MOCI, as detailed below:

Approved List of Designated Partner: Sr. No Name of Designated Partners Designation 1 Mr. Rakesh Khanna Designated Partners 2 Mr. Murlidhar Reddy Samala Designated Partners

The approval is subject to the conditions laid down in Instruction No. 109 issued by MOC&I.

Meeting ended with a vote of thanks to the Chair.

(Dnyaneshwar B. Patil, IAS) Chairman-cum- Development Commissioner SEEPZM-SSEZ0MINF(SIPL)/1/2024-O/o JDCP-SEEPZ SEZ I/67274/2024

ACTION TAKEN REPORT FOR THE APPROVAL COMMITTEE MEETING HELD ON 16.08.2024 IN RESPECT OF M/S. SYNTEL INTERNATIONAL PVT. LTD. SEZ PUNE APPROVED ON 18.08.2024

Name of the unit

Subject Action Taken M/s. State-Street Services Pvt Ltd (LOA 25) Monitoring of performance
Approval letter for monitoring of performance issued on 21.08.2024 M/s. State-Street Services Pvt Ltd (LOA 04) Monitoring of performance
Approval letter for monitoring of performance issued on 21.08.2024 Syntel International Pvt Ltd (Developer) and 5 of its units Application for approval of Change in Board of Directors Approval letter for Change in Board of Directors was issued to the unit on 21.08.2024 M/s. Syntel Software LLP (LOA 07 & LOA 08) Application for approval of Change in Designated Partners Approval letter for Change in Designated Partners was issued to the unit on 21.08.2024

Year Export F.E. OUTGO

Projected

Actual Raw Material (Goods/Services) C.G. import Other outflow Projected Actual Projected Actual Actual 2019-20 25.01 51.36 0.00 0.00 4.89 -1.19 0.40 2020-21 26.71 39.73 0.00 0.00 0.03 2021-22 28.40 32.17 0.00 -0.17 0.00 2022-23 28.40 13.79 0.00 -1.01 0.00 2023-24 28.40 10.33

0.00 0.94 0.48 Total 136.92 147.38 0.00 0.00 4.89 -1.44 0.91 OFFICE OF THE DEVELOPMENT COMMISSIONER, SEEPZ SPECIAL ECONOMIC ZONE, GOVT. OF INDIA, ANDHERI (EAST), MUMBAI

---

AGENDA NOTE FOR CONSIDERATION OF APPROVAL COMMITTEE

---

a. Proposal : Monitoring of the performance of M/s. Syntel Pvt Ltd. an IT/ITES unit located in Syntel International Pvt Ltd -SEZ, Pune, 5 years of 2nd block i.e. from FY 2019-20 to 2023-24. b. Specific Issue on which decision of AC is required: -
Monitoring of the performance of the unit for 5 years of 2nd block period from FY 2019-20 to 2023-24, in terms of Rule 54 of SEZ Rules, 2006. c. Relevant provisions of SEZ Act, 2005 & Rules, 2006/Instruction/
Notification :- 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”. d. Other Information: - Approved export Projections for 2nd Block Period: (Rs. in Cr.) 2019-20 2020-21 2021-22 2022-23 2023-24 Total FOB Export 25.01 26.71 28.40 28.40 28.40 136.92 FE Outgo 4.15 0.70 0.64 0.60 0.65 6.74 NFE 20.87 26.01 27.76 27.81 27.76 130.18 Performance as compared to projections: for FY 2018-19 (Rs. In Cr.)

Cumulative NFE Achieved (Rs. In Cr.) Year Cumulative NFE achieved Cumulative NFE in % 2019-20 50.66 98.64 2020-21 90.05 98.87 2021-22 121.95 98.94 2022-23 135.56 98.91 2023-24 145.14 98.48 Employment Projected Achieved M - -100 F – 60 Total - 160 M – 28 F – 12 Total - 40 (Employment as on 31.03.2024

Other Information: LOA No. & Date SEEPZ-SEZ/SIPL-SEZ/SL/05/2012-13 dated 20.03.2013 Location of Unit Block S 8, Second Floor (A & B Wing), Plot No. B1/B2, Syntel International Pvt Ltd- SEZ, Talawade, Software Technology Park, MIDC Dehu Road, Talawade, Pune- 411062. Validity of LOA 30.11.2024. Item(s) of manufacture/ Services IT/ITES Date of commencement of production 01.12.2014 Execution of BLUT 1.57 Outstanding Rent dues NA Labour Dues NA Validity of Lease Agreement Yes – 5 years (31.10.2027) Pending CRA Objection, if any NA Pending Show Cause Notice/ Eviction Order/Recovery Notice/ Recovery Order issued, if any NA No. of employees as on FY 2023-24 40 (Men-28, Women- 12) Area allotted (in sq.ft.) 22,545 Sq. ft
Area available for each employee per sq.ft. basis (area / no. of employees) 563 Sq. ft. Investment till date

Building 0 Plant & Machinery Rs.6.56 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 The Specified Officer vide letter dated 24.12.2024 has reported as under:

EXPORT (Rs. In Crores)
Year/ Period Figures reported in APR Figures as per Softex/ Customs Records Difference if any Reason for Difference/Remark (1) (2) (3) (4) (5) 2019-20 51.36 56.02 -4.66

Accrual Reversal Rs.-7.47 On site Rs.1.68 On account of Exchange Rate Rs.1.13 Total Rs.-4.66

2020-21 39.73 44.35 -4.62

Credit Note Rs.-5.63 On site Rs.0.25 On account of Exchange Rate Rs.0.76 Total Rs.-4.62

2021-22 32.17 31.74 0.43

Onsite Services Rs.0.20.35 On account of Exchange Rate Rs. 0.2265 Total Rs.0.43

2022-23 13.79 14.17 -0.38 On account of Exchange Rate Rs.-0.38 Total Rs.0.38 2023-24 10.33 10.33 0.03 On account of Exchange Rate Rs. 0.03 Total Rs.0.03 Note:-1. Year 2019-20, Year 2020-21 and 2022-23 (Excess Revenue reported in SOFTEX Form), Revenue in books of account is recorded after considering unit rectification, correction of revenue due to differences and based on the final approvals/confirmations from clients. Note:2- Year 2021-22 (Revenue reported Short in SOFTEX Form) Export Revenue as shown in APR includes onsite and year-end Mark-up Offshore adjustment. IMPORT Capital Goods including procurement done on IUT (from SEZ, EOU, STPI, EHTP) basis.)
(Rs. In Crores) Year/Period Figures reported in APR (CIF Value) Figures as per Customs Records Difference if any Reason for Difference/Remark (1) (2) (3) (4) (5) 2019-20

0.00

2020-21

0.00 2021-22

0.00 2022-23

0.00 2023-24 0938 0.938 0.

Raw Material (Rs. In Crores)

Year/Period Figures reported in APR (FOB Value) Figures as per Customs Records Difference if any Reason for Difference/Remark (1) (2) (3) (4) (5)

2019-20 To 2022-23

0.00 0.00 0.00

BLUT

(Amount in ‘Crores’) 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

Date of Acceptance BLUT Amount 2nd June, 2020 1.57 Total 1.57

2 Total Duty Foregone on goods & services procured

Category Wise:

Year Wise:

FY Op. Bal Goods Imported & Indigenous Services Imported & Indigenous Cl. Bal. 19-20 1.57 0.00 0.2948 1.2752 20-21 1.2752 0.0336 0.1050 1.1366 21-22 1.1366 0.0027 0.1113 1.0226 22-23 1.0226 0.00 0.2518 0.7708 23-24 0.7708 0.41 0.3545 0.0063 Total

0.4463 1.1174

(d) Employment made as on date (31.03.2024) (as on end of block period/ year up to which monitoring is being done)

FY Male Female Total Projection 100 60 160 ACTUAL 19-20 107 87 194 20-21 67 55 122 21-22 55 28 83 22-23 35 18 53 23-24 28 12 40 Men : 28 Women : 12 Total No. of Employment :40 nos.

(e) Details of Pending Foreign Remittance beyond Permissible period, if any (as on 31.03.2024) To cross-check the same and verify whether necessary permission from AD Bank/ RBI has been obtained.

No foreign remittance is pending as on 31.03.2024

(f) 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. Yes. All Softex has been filed.

Softex filed late, request for Delay Condonation filed with JDC Office Pune 05 nos. SOFTEX marked for 5 percent Special Scrutiny, documents submitted with this office on 24.12.2024 is under process. 01 no.

(g) 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 pendency. Except above, all Softex have been certified till 31- 03-2024

(h) Whether unit has filed any request for Cancellation of Softex NO (i) 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 (j) SO to verify and certify whether the unit has updated the BLUT ledger Module in SEZ Online. N.A. (k) 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 Year Assessable Value Duty Paid 2022-23 0.0229 0.00412 2023-24 0.0146 0.00452

Cleared as “E-Waste” (l) 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 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 No

(m) 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. Financial Year Value In Cr. DSPF Approved 2019-20

Pending for filing 2020-21 6.55 Approved 2021-22 9.37 Approved 2022-23

Pending for filing 2023-24

Pending for filing (n) 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 Yes (o) Details of the request IDs pending for OOC in respect of DTA procurement on the date of submission of monitoring report NIL (p) Has the unit set up any cafeteria/ canteen/ food court in unit premises. If yes, whether permission from UAC/DC 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 NO (q) Whether any violation of any of the provisions of law has been noticed/ observed by the Specified Officer during the period under monitoring. NO

e. ADC’s Recommendation: The unit has achieved export of Rs. 147.38 against the projected export of Rs. 136.92 i.e. on cumulative basis in the FY 2019-20 to FY 2023-24 of 2nd Block. The unit has achieved NFE of Rs.145.14 Cr. i.e, 98.48% on cumulative basis in the FY 2023-24 of 2nd block period. As per the SO Report the unit has generated employment of 40 employees (Men-28, women-12) in FY 2023-24. Unit is required to file pending DSPF. Approval Committee may kindly monitor the performance of the Unit for 5 years of 2nd Block Period i:e FY 2019-20 to 2023-24, in terms of Rule 54 of SEZ Rules, 2006.

---

OFFICE OF THE DEVELOPMENT COMMISSIONER, SEEPZ SPECIAL ECONOMIC ZONE, GOVT. OF INDIA, ANDHERI (EAST), MUMBAI

---

AGENDA NOTE FOR CONSIDERATION OF APPROVAL COMMITTEE

---

a. Proposal : Proposal dated 26.12.2024 submitted by M/s. Syntel International Pvt Ltd (Developer) and their other 5 IT/ITES units (M/s Syntel Private Limited) located in M/s. Syntel International Pvt Ltd.- SEZ for Change in Board of Directors. b. Specific Issue on which decision of AC is required: -
Approval of the Approval Committee for Change in Board of Directors, in terms of Instruction No. 109 dated 18.10.2021 c. Relevant provisions of SEZ Act, 2005 & Rules, 2006/Instruction/
Notification :- 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: - Change in Directors of Company: Existing List of Directors:- Sr. No Name of Directors Designation Date of Cessation 1 Mr. Rakesh Khanna Director

2 Mr. Murlidhar Reddy Samala Director Cessation on 18.10.2024

Proposed List of Directors:- Sr. No Name of Directors Designation 1 Mr. Rakesh Khanna Director 2 Mr. Sreeram Radhakrishnan Director

Other Information: - M/s. Syntel International Pvt Ltd (Developer) has submitted application for their Formal Approval N o . F2/101/2005-EPZ Dated 09.06.2006 and their 5 Units named M/s Syntel Private Limited holding following LOA Nos: -

Unit-1-LOA.No. SEZ/PUNE/26/2007-08/54 Dated 28.03.2008 Unit-2-LOA.No. SEEPZ-SEZ/SIPL-SEZ/SL/03/2012-13/906 Dated 22.01.2013 Unit-3-LOA.No. SEEPZ/SIPL-SEZ/SL/06/2012-13/1452 Dated 03.02.2014 Unit-4-LOA.No. SEEPZ-SEZ/SIPL-SEZ/SL/05/2012-13/3776 Dated 20.03.2013 Unit-5-LOA.No. SEEPZ/NEWSEZ/DDPL-PUNE/03/LOA-03/2007-08/2127 Dated 13.03.2008 The Developer/Units has submitted following documents: Updated List of directors as on 18.10.2024 Undertaking in terms of Instruction No 109 DIR 12 Mr. Sreeram Radhakrishnan (appointment) and DIR 12 for Mr. Murlidhar Reddy Samala (Resignation)
The Developer/Units has submitted that Mr. Murlidhar Reddy Samala was Director, and confirms that there are no liability/cases pending against him. Copy of Board Resolution for appointment of new Director and acceptance of resignation submitted by Mr. Murlidhar Reddy Samala e. ADC’s Recommendation: Approval Committee may kindly consider the proposal of Developer and their 5 Units for change in Board of Directors in terms of Instruction no. 109 issued by MOC&I.

---