13/12/2023 — 03-minutes-magarpatta-sez

Minutes of the 106% Meeting of the Approval Committee held under the Chairmanship of Shri Rajesh Kumar Mishra, Zonal Development Commissioner SEEPZ-SEZ, Mumbai for Sector Specific Special Economic Zone for IT/ITES o Magarpatta Township Development and Construction Co. Ltd.-SEZ, Village Hadapsar, Tal. Haveli, Dist. Pune 411013, held on 05.12.2023 via video conference 1 |Name of the SEZ Magarpatta Township Development And Construction Co. ILid.-SEZ 2 |Sector IT/ITES 3 |Meeting No. 106४ 4 [Date 05.12.2023 Members present Sr [Name and Designation Department (S/Shri.) 1 mit. Mital Hiremath Pune Cluster SEZ, Pune oint Development Commissioner 2 |Shri. Sandeep Sathe, Nominee of Income Tax, Pune IDCIT-Circle 4, Pune 3 |Dr. Dileeraj Dabhole, Nominee of DGFT, Pune Deputy DGFT 4 (Smt. Malathi J. Nair Nominee of Customs, Pune uperintendent Special Invitee Sr [Name and Designation Department 1 hri D. B. More, Specified Officer SEEPZ-SEZ,Pune Cluster Agenda Item No. 01: Confirmation of the Minutes of the 105 meeting held on 19.10.2023. After deliberation, the committee confirmed the minutes of the 105% meeting of Approval Committee held on 19.10.2023. Agenda Item No. 02: Monitoring of Performance for M/s. Vconstruct Pvt Ltd. Unit-2 After deliberation, the committee monitored the performance of the unit, in terms of Rule 54 of SEZ Rules, 2006, for the period from 2018-19 to 2022-23 1.6., 1 block period. The committee noted that, the unit has achieved Export of Rs. 318.08 Cr. & NFE of Rs. 305.19 Cr. in FY 2022-23 on cumulative basis. The unit has achieved employment of 445 employees (Men-312, women-133) in FY 2022-23. Agenda Item No. 03: Application for Approval of Change in Board of Directors submitted by M/s. BNY Melion International Operations (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: प्‌ Approved List of Board of Directors: Sr. No. Name of the Director Designation 1. IMr. Sudish Panicker Lambodara IManaging Director 2. IMr. Francis Jos G Braeckevelt Director 3. Mrs.Joanne Elisabeth Cash Director 4. Mrs. Janet Menezes Additional Director 5. Mr. Rajiv Bhatnagar [Director The approval is subject to the conditions as laid down in Instruction No. 109, as applicable, issued by MOC&I a. 9. 1. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered entity; Fulfilment of all eligibility criteria applicable, inchiding security clearances etc. by the altered entity and its constituents; . Applicability of and compliance with all Revenue/ Company Affairs/SEBI etc. Act/Rules which regulate issues like capital gains, equity change, transfer, taxability etc.

• Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT&R), CBDT, Department of Revenue and to the jurisdictional Authority.
• The assessing officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer in ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable.
• The applicant shall furnish details of PAN and jurisdictional assessing office of the unit to CBDT. The applicant shall be recognized by the new name or such arrangement in all the records. 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) After deliberation, the committee approved the proposal of the unit for Change in name of the company from M/s. Danfoss Technologies Pvt Lid. (DTPL) to

M/s. Danfoss Industries Pvt Ltd, change in Board of Directors and shareholding pattern due to approved merger, 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 the Director Designation 1.‘ JRavichandran Purushothaman [Director 2. enkatraman Subramaniam Muralidar [Director 3. ‘orben Jessen Christensen Director 4. Anders Stahlschmidt Director | 5. {Rajeev Rajan Additional Director Approved Shareholding Pattern: The approval is subject to the conditions as laid down in Instruction No. 109, as applicable, issued by MOC&I Sr. |Name of Shareholders| No. of equity Face value per % of Hi No. ° shares share Shareholding | i [Danfoss International 963,35,499 10 96.24% A/S 2 (FVacon OY, Finland 14,32,060 10) 1.43% 3 [Danfoss AB, Sweden 65 10 0.00% वा [Danfoss A/S 589 10 0.00% | 5 ondex Holding A/S 23,34,836 10) 2.33% ; | ‘otal 10,01,03,049 100% | | Sr. Name of the preference|No. of preference|Face Value 7४26 fo) } No Shareholder shares Share Shareholding i | : 1 acon OY, Finland 29,45,000 10 100% otal 29,45,000 100% 4 1 ! a. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered entity; b. Fulfilment of all eligibility criteria applicable, including security clearances

र]् _ग No.S-SEZ-PROOMTDC/10/2022-JDCP etc. by the altered entity and its constituents; . Applicability of and compliance with all Revenue/Company Affairs/SEBI etc. Act/Rules which regulate issues like capital gains, equity change, transfer, taxability etc.

• Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT&R), CBDT, Department of Revenue and to the jurisdictional Authority.
• The assessing officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer in ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. . The applicant shall furnish details of PAN and jurisdictional assessing office of the unit to CBDT. The applicant shall be recognized by the new name or such arrangement in all the records. Meeting ended with a vote of thanks to the Chair. vG rarer (Rajesh Kumar Mishra, IRS) Chairman-cum- Development Commissioner