IN FORCE SEZ / EOU / FTWZ undated

Minutes of the 131st meeting of Approval Committee

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Minutes of the 131st Unit Approval Committee Meeting of Kandla SEZ held on 10.07.2018 at 11:30 hrs. under the Chairmanship of Shri Upendra Vasishth, Development Commissioner, Kandla Special Economic Zone.

memes

Following were present:
1. Shri. Satyadeep : JointDevelopmentCommissioner,
Mahapatra KASEZ.
2. Shri. S. C. Sahoo : Assistant Commissioner, Customs,
Kandla, Gandhidham-Representative of
Commissioner ofCustoms Kandla.
3. Shri. Kanak P. Der : General Manager, DIC, Bhuj.
4. Shri. P.C. Ravindran : Assistant DGFT,
Rep. ofJt. DGFT, Rajkot.
oO. Shri Kaushik G. Parmar: Income Tax Officer,
Ward (1), Gandhidham —Representative
of Additional Commissioner of Income
Tax,Gandhidham.

Absentees:-

  1. Director (Banking)

  2. SDM

Review/Confirmation of the minutes of last meeting (130t"UAC) of the Approval Committee:-

Minutes of the last meeting of Approval Committee was confirmed.

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Minutes of the 131st Unit Approval Committee Meeting of Kandla SEZ held on : 10.07.2018 at 11:30 hrs. under the Chairmanship of Shri Upendra Vasishth, Development Commissioner, Kandla Special Economic Zone.

S900 S—oo@msmS SS 131.1 NEW UNIT APPLICATION

AGENDA ITEM NO. 131.1.1

Subject : M/s Ankita Overseas, 322 DLF Towers, ShivajiMarg, Moti Nagar, New Delhi - 110015 has filed an application dated 12.04.2018 for setting up a trading unit at KASEZ.

Their proposal is for setting up a trading unit for Pan Masala, Supari, etc. in Kandla SEZ, Gandhidham. The proposal was discussed in 130th Unit Approval Committee meeting wherein Shri Rupesh Ranjan, Manager of the firm appeared before the Approval Committee. He was not fully versed with the present proposal and therefore, the Committee after discussion decided to defer the proposal and further directed the applicant to ask the Promoter to appear before the next UAC meeting for discussion of their proposal.

Shri Anil Kumar, Proprietor of the firm appeared before the Approval Committee and further explained their proposal. He stated that M/s Ankita Overseas are already in import and export business for more than 15 years. He further stated that his firm is already doing merchant export as a third party exporter of Pan Masala and similar products on behalf of other established brand such as Pan Parag etc. including on behalf of some manufacturing units of KASEZ also and further stated that during last year they made export of around Rs. 20 Crores. He further stated that their proposal is for 100% export orders and will not involve any DTA sales.

The Approval Committee after due deliberation approved the proposal subject to compliance of standard terms and conditions and also subject to condition which include no DTA Sale/clearance of any goods, Import of Betel Nut (Supari) will not be allowed and also subject to furnishing the undertaking for use of plastic packaging in line with the decision of UAC in

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Minutes of the 131st Unit Approval Committee Meeting of Kandla SEZ held on 10.07.2018 at 11:30 hrs. under the Chairmanship of Shri Upendra Vasishth, Development Commissioner, Kandla Special Economic Zone.

Sess its 117 meeting with respect of Agenda items 117.1.2 in terms of Apex Court’s Judgement.

AGENDA ITEM NO. 131.1.2

Subject : Application for setting up of a unit in KASEZ namely M/s. B. M. Enterprises, 101/B, Glacia, Edulji Road, Charia, Tembhi Naka, Bhawani Chock, Thane (W), Maharashtra - 400601.

Their proposal is for setting up a unit in Kandla SEZ for manufacturing activity of - Scented Supari, Mouth fresheners & Pan Masala with and without Tobacco (Gutkha).

Shri B. S. Rajpurohit, Chartered Accountant of the unit appeared before the Approval Committee and explained their proposal.

Shri B. S. Rajpurohit stated that promoters of the proposed unit i.e. Shri Bhanu Prakash Joshi and Shri Vinay Arun Joshi are having vast experience in this field. Both of the Promoters belong from Joshi Family, which is engaged in same field since long time. He further stated that Shri Jagdish prasad M. Joshi and Shri Sachin J Joshi, Partners of M/s Esskay Niryat Corporation, KASEZ (Manufacturer of Pan Masala and Guthka) are also one of their family members.He further stated that they will export their entire products to Middle East, UAE and other parts of the world.

The Approval Committee after due deliberation approved the proposal subject to standard terms and conditions for such units which include no DTA Sale/clearance of any goods and no import of Betel nuts (supari) and also subject to furnishing an affidavit/undertaking for use of plastic packaging in line with the decision of UAC in its 117 meeting with respect of Agenda items 117,1.2 in terms of Apex Court’s Judgement and that they

Minutes of the 131st Unit Approval Committee Meeting of Kandla SEZ held on 10.07.2018 at 11:30 hrs. under the Chairmanship of Shri Upendra Vasishth, Development Commissioner, Kandla Special Economic Zone.

will not use any other DTA brand of such products and further subject to obtain any other Permission/Approval/NoCs required under any law for time being in force in this regard.

AGENDAITEM NO. 131.1.3

Subject : Application for setting up of a unit in KASEZ namely M/s. Apple Industry, H No. 148, Sector - 7, Gohana, Distt. Sonipat, Haryana - 134 301.

Their proposal is for setting up a warehousing unit of Plastics waste & imported old and used clothes under Rule 18 (5) of SEZ Rules, 2006.

Shri Rajesh Vashisth, Partner of the proposed unit appeared before the Approval Committee and explained their proposal.

He further stated that they will re-process the imported old and used clothes and plastics on behalf of their foreign clients and will 100% export the same.

The Committee after due deliberation rejected the proposal as it noted that the proposed activity comes under the purview of Rule 18(4)of SEZ Rules, 2006, as import items included second hand materials such as old & used clothes and plastic waste scrap and their recycling, which is not permissible for setting up any new unit in SEZ and that Rule 18 (5) does not permit such processing amounting to manufacturing of goods as well.

131.2 REQUEST FOR BROADBANDING

AGENDA ITEM NO. 131.2.1

Subject: Request for broad banding of Bentonite, Dolomite, Mineral Powder and Zinc Sulphate in their existing Letter of

Minutes of the 131st Unit Approval Committee Meeting of Kandla SEZ held on 10.07.2018 at 11:30 hrs. under the Chairmanship of Shri Upendra Vasishth, Development Commissioner, Kandla Special Economic Zone.

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Approval/Permission No. KASEZ/IA/024/2004-05 dated 15.09.2017 of M/s Transworld Furtichem Pvt. Ltd. (Unit-II), KASEZ.

M/s Transworld Furtichem Pvt. Ltd. (Unit-II), Plot No. 345, Sector-IV, Kandla Special Economic Zone, Gandhidham is an approved unit for trading activity and export of permissible fertilizers, Ammonium Sulphate, Resist Salt, Guava Gum and Tamarind Gum, Dicalcium Phosphate (ITC HS 28352500), Potassium Choloride, Potassium Sulphate, Dimmonium Phosphate, Monoammomium Phosphate, Potassium Nitrate, NP Fertilizers and Triple Super Phosphate, Packing Material i.e HDPE Bags, Plastic Bags, PP Bags with PP Liner, Packing Material of Plastics and Calcium Ammonium Nitrate (ITC HS 31026000), Rock Phosphate (ITC HS 25102010), Ammonium Chloride (ITC HS 31029090), Natural Magnesium Carbonate (ITC HS 25191000) and Magnesium Oxide (ITC HS 25199040) vide Letter of Approval No. KASEZ/TA/024/2004-05 dated 15.09.2017 as amended/extended from time to time. Their LoA is valid upto15.02.2022.

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----- Start of picture text -----<br> The said unit has now requested for broad banding of following items<br>in their existing Letter of Approval for trading activity:-<br>| SL.NO. Description of goods ITC-HS Code<br>2508 1010<br>2518 1000<br>02. Dolomite 2518 2000<br>2918 3000<br>2601 1190<br>Zinc Sulphate 2833 2000<br>----- End of picture text -----<br>

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Minutes of the 131st Unit Approval Committee Meeting of Kandla SEZ held on 10.07.2018 at 11:30 hrs. under the Chairmanship of Shri Upendra Vasishth, Development Commissioner, Kandla Special Economic Zone.

Shri Lal Advani, Dy. General Manager of the company appeared before the Approval Committee and explained their proposal. He further stated that all the items requested for broad-banding are freely importable & exportable as per prevailing FTP Policy.

He stated that his company is an approved unit for trading as allowed in their LoA and now they want to add above mentioned items into their existing LoA; as, they are having experience of trading of similar items and by inclusion of these items, their export turnover will also be boosted up.

The Approval Committee after due deliberation decided to approve the broad-banding of trading activity of above items in their existing LoA.

AGENDA ITEM NO. 131.2.2

Subject: - Request for broad banding of Trading Activity in their existing Letter of Approval/Permission No. KASEZ/1A/21/2016-17 dated 31.01.2017 of M/s Vimal Trading, KASEZ.

M/s Vimal Trading, Shed No. 398, AS-IV, Sector - I, Kandla Special Economic Zone, Gandhidham is an approved unit for Warehousing Service Activity of all OGL items vide Letter of Approval No. KASEZ/IA/21/2016-17 dated 31.01.2017. Their LoA is valid upto30.01.2019.

Request of the unit for inclusion of trading activity in their existing LoA was considered in the 127 UAC meeting held on 11.04.2018 and Committee after due deliberation approved the broad-banding for trading activity for six items including mix plastic floor sweeping and plastic lumps (virgin only). ee

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Minutes of the 131st Unit Approval Committee Meeting of Kandla SEZ held on 10.07.2018 at 11:30 hrs. under the Chairmanship of Shri Upendra Vasishth, Development Commissioner, Kandla Special Economic Zone.

7 uu CCL EE However, in the 128 UAC meeting held on 24.04.2018, the Committee decided not to grant broad-banding of trading activity in respect of Mix Plastic Floor Sweeping and Plastic Lumps. Accordingly, the said broad-banding request granted for Mix Plastic Floor Sweeping and Plastic Lumps was withdrawn.

Now, the unit has again represented their request for broad-banding of above two items in trading activity and stated that both the items are under OGL list of ITC HS and are being regularly imported at NhavaSheva and Mundra and furnished excerpts of the data on Zauba website for Plastics lumps and floor sweeping.

Shri Ramesh Pradhan, Advisor of the company appeared before the Approval Committee and explained their proposal.

After due deliberation, the Committee decided to direct the DC’s Office tostudy whether such items are freely imported to the various ports of Customs and furnish a report before next UAC in this regard. The proposal was thus deferred for the want of report and the Committee further decided that the proposal will be discussed again after receipt of the report.

AGENDA ITEM NO. 131.2.3

Subject:- Request of M/s GKN Enterprises, No. 306, Narmada SDF Complex, Phase-II, KASEZ for Broad-banding of 03 new items into their Manufacturing activity

M/s GKN Enterprises, Unit No. 306, Narmada SDF Complex, Phase — Il, KASEZ, Gandhidham has been permitted for Manufacturing of Pipe Adhesive (ITC HS - 39042210) and Trading Activity (As allowed in their LoA and further amended thereof, if any) vide LoA No. 04/9015-16 dated

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Minutes of the 131st Unit Approval Committee Meeting of Kandla SEZ held on 10.07.2018 at 11:30 hrs. under the Chairmanship of Shri Upendra Vasishth, Development Commissioner, Kandla Special Economic Zone.

18.05.2015 issued vide F. No. KASEZ/IA/04/2015-16 dated 18.05.2015.The unit has commenced their activity on 20.06.2015

The said unit has now requested for broad banding of following items in their existing Letter of Approval for Manufacturing Activity:-

Shri Sujith Padayachi, Executive Officer of the company appeared before the Approval Committee and explained their proposal. He further stated that the process involves blending of the raw materials & resultant products will have different concentration and the finished goods will have their own brand name of GKN. On being asked by the Approval Committee, he stated that his company is having all such requisite licenses which are required for dealing with above chemicals including explosive license. Approval Committee directed him to submit all such licenses.

The unit in their proposal had informed that they would separate their Manufacturing and Trading Activity from each other as: Trading Activity would be continued on current plot i.e. Unit No. 306, Narmada SDF Complex, Phase - II, KASEZ and Manufacturing Activity would be undertaken at their newly allotted Plot i.e. Plot No. 54, Sector —- 1, Phase — I, KASEZ. The Approval Committee after due deliberation decided to approve the broad-banding of Manufacturing Activity of above items and directed the DC’s Office to issue the new Letter of Approval to the unit for their

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Minutes of the 131st Unit Approval Committee Meeting of Kandla SEZ held on ; 10.07.2018 at 11:30 hrs. under the Chairmanship of Shri Upendra Vasishth, Development Commissioner, Kandla Special Economic Zone.

Manufacturing Activity in the line of decision taken by the UAC in its 116% meeting.

AGENDA ITEM NO. 131.2.4

Subject:- Request for addition of 10 new items in trading activity of M/s IFGL REFRACTORIES LIMITED, Plot Nos. 638-644, KASEZ

M/s IFGL REFRACTORIES LIMITED, Plot Nos. 638-644, KASEZ, were issued Letter of Approval vide F. No. KASEZ/IA/032/2007-08 dated 07.11.2007 as amended from time to time for manufacture and service of Refractoriness (Shaped/un-shaped), Equipment, Application, repairs and maintenance of Refractories and Equipment and trading activity of the items as approved/broad-banded vide F. No. KASEZ/IA/32/2007-08 dated 16.08.2013. The unit have commenced their activities with effect from 01:05.2012.

The unit has now requested for addition of following 10 items in their trading activities:-

S. No. Description ofgoods submitted by the ITC-HS Code
unit
1 Bubble Alumina, Tabular Alumina, 2818
White Fused / Brown Fused alumina
Sintered Magnesia 2019
Fused Silica 2811
Silicon metal 2804
Pee Bus -FusedZirconiaMulite 2853

Minutes of the 131st Unit Approval Committee Meeting of Kandla SEZ held on 10.07.2018 at 11:30 hrs. under the Chairmanship of Shri Upendra Vasishth, Development Commissioner, Kandla Special Economic Zone.

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----- Start of picture text -----<br> a Furfuryl Alcohol 2918<br>Refractory Glaze, Phenolic Resin 3909<br>----- End of picture text -----<br>

Shri K. M. Dubey, Sr. Manager of the company appeared before the Approval Committee and explained their proposal. On being asked by the Approval Committee, he stated that his company is having all such licenses which are required for dealing with above chemicals including explosive license. Approval Committee directed him to submit all such licenses.

The Committee after due deliberation decided to approve the broadbanding of Trading Activity of above items and directed Shri Dubey to separate their Manufacturing and Trading Activity from each other and further directed DC’s Office toissue the new Letter of Approval to the unit for their Trading Activity in the line of decision taken by the UAC in its 116% meeting.

AGENDA ITEM NO. 131.2.5

Subject:- Request of M/s. Amar Flavours Pvt. Ltd., Unit No. 101,201 & 301, Narmada SDF Complex, Phase - II, KASEZ for Broad-banding of one new items into their Manufacturing activity.

M/s. Amar Flavours Pvt. Ltd., Unit No. 101,201 & 301, Narmada SDF Complex, Phase - II, KASEZ is a registered Manufacturer of Pan Masala (ITC HS 21069020), Pan Masala Containing Tobacco - Guthka (ITC HS 24039990) vide Letter of Approval No. 016/2013-14 dated 11.03.2014 as amended from time to time. Validity of the LoA is upto 20.07.2019. The said unit has now requested for broad-banding of Split Betel Nut (ITC HS 21069030) in their existing Letter of Approval for Manufacturing /

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Minutes of the 131st Unit Approval Committee Meeting of Kandla SEZ held on 10.07.2018 at 11:30 hrs. under the Chairmanship of Shri Upendra Vasishth, Development Commissioner, Kandla Special Economic Zone.

Activity.He further stated that they are already permitted for import of Betel Nuts (Supari).

Shri Abhinav Abhishek, Director of the company appeared before the Approval Committee and explained their proposal. He stated that his company has received several orders for export of Split Betel Nuts. He further stated that his companywill procure betel nut (whole) and after processing those will be cut into pieces and finally will be exported.

He further stated that on getting permission of export of Split Betel Nut (ITC HS 21069030) their export volume will also be boosted up.

The Approval Committee after due deliberation approved the proposal subject to standard terms and conditions for such units which include no DTA Sale/clearance of any goods and also subject to furnishing an affidavit /undertaking for use of plastic packaging as detailed under Item No. 117.1.2 in terms of the Apex Court’s judgement and further subject to obtain any other Permission/Approval/NoCs required under any law for time being in force in this regard.

AGENDA ITEM NO. 131.2.6

Subject : Request of M/s Creative Free Trade Warehousing Pvt. Ltd. KASEZ for warehousing of TECHNICAL GRADE UREA / INDUSTRIAL GRADE UREA (ITC HS 31021000) in their warehousing activity.

M/s Creative Free Trade Warehousing Pvt. Ltd. Plot No. 333 to 340, Sector -4, KASEZ is an approved unit for Warehousing Activity vide Letter of Approval issued vide F. No. KASEZ/1A/20/2008-09 dated 23.12.2008 as amended from time to time. The validity of their LoA is upto 07.09.2020.

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Minutes of the 131st Unit Approval Committee Meeting of Kandla SEZ held on 10.07.2018 at 11:30 hrs. under the Chairmanship of Shri Upendra Vasishth, Development Commissioner, Kandla Special Economic Zone.

The said unit has now requested for broad-banding of TECHNICAL GRADE UREA / INDUSTRIAL GRADE UREA (ITC HS 31021000) in their existing Letter of Approval for Warehousing Activity.

Shri Lal Advani, Dy. General Manager of the company appeared before the Approval Committee and explained their proposal.He stated that during last five years period they have developed and invested capital to increase the volume under the warehousing activity, which has ultimately resulted in increased foreign inflow. He further stated that there has been increased in demand of Technical Grade Urea / Industrial Grade Urea which primarily used by manufacturing industries viz. Dyes and intermediates, Plywood, Laminates etc.

UAC in their 119% meeting while discussing the request of M/s Transworld Furtichem Pvt. Ltd. (Unit - II), KASEZ, withdrawn the Permission of Warehousing and Trading of Urea of any Grade and in compliance with the decision taken by UAC, permission for the same was withdrawn from the approved list of Warehousing items of M/s Creative Free Trade Warehousing Pvt. Ltd. Further, the UAC after due deliberation in their 122"4 meeting held on 28.12.2017 decided to approve the Trading of Technical/Industrial Grade Urea to M/s Transworld Furtichem Pvt. Ltd. (Unit - II), KASEZ, after taking note of letter of Ministry of Commerce F. No. 01/89/180/102/AM-02/PC-2 (A)/Part-III (ce 1883) dated 22.4 December, 2017 clarifying permissibility of import of such two items subject to the condition that their DTA Sale Consignment shall be packaged as per the specified norms and that such DTA importer/actual user shall not claim any subsidy on the said imported T/IGU.

The Approval Committee after due deliberation approved the proposal subject to the condition that their DTA Sale Consignment shall be packaged ‘ 12 ad

Minutes of the 131st Unit Approval Committee Meeting of Kandla SEZ held on 10.07.2018 at 11:30 hrs. under the Chairmanship of Shri Upendra Vasishth, Development Commissioner, Kandla Special Economic Zone.

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131.3 MISCELLANEOUS ITEMS

AGENDA ITEM NO. 131.3.1

Subject: Request of M/s Gelkeps Sports Pvt. Ltd. for change of Directors & Shareholders.

M/s Gelkeps Sports Pvt. Ltd., KASEZ is an approved unit for manufacturing and trading of “PAINT BALLS” (SPORTS & AMUSEMENT ARTICLES) and Paintballs, Paintball Markers, Protective Gears, Face Masks, Neck Protectors vide Letter of Approval No. F. No. KASEZ/IA/047/2005-06 dated 21.03.2006 as amended time to time. The validity of their LoA is upto 16.09.2022. Now, the unit has intimated the due to exit of Shri Thomas Kuruvila and Shri Thiam Kiat Gan as the Directors of the company and appointment of Shri Kamalnayan Nimishachandra Trivedi and Shri Jason Ho as new directors and ISSUANCE OF 168633 NEW SHARES TO M/S HO YAN HOR HOLDINGS SDN BHD ON 11.01.2017; current details of Directors and Shareholders, Share Pattern of the company have been revised.

The Committee noted that the details of present Directors and foreign ; Companies are as under:-

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----- Start of picture text -----<br> S. Name of the Director| Current Position | No. of | % of Share<br>No. | and Company Shares Hold<br>Mr. Jason Ho Director Nil<br>3 ot ee | eae<br>----- End of picture text -----<br>

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----- Start of picture text -----<br> apis<br>----- End of picture text -----<br>

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Minutes of the 131st Unit Approval Committee Meeting of Kandla SEZ held on 10.07.2018 at 11:30 hrs. under the Chairmanship of Shri Upendra Vasishth, Development Commissioner, Kandla Special Economic Zone.

|=|M/s<br>Corporate|Famd||Foreign|10000|0.2992|
|---|---|---|---|---|---|
||Investment Ltd.||Company|||
|5|M/s<br>Ho<br>Yan_|Hor||Foreign|3332145|99.6978|
||HoldingsSdnBhd||Company|||

The Committee noted that Department of Commerce vide Instruction No. 89 dated 17.05.2018 had issued guidelines regarding change in shareholding pattern, name change pertaining to SEZ units wherein change of name, change of shareholding pattern, etc. may be undertaken with the prior approval of Approval Committee in respect of units. The Committee noted that the changes in shareholding pattern of the company is less than 50%; however, two out of three directors have been changed. Therefore, the Approval Committee after due deliberation decided to approve the proposal of change in Directors of the company subject to following conditions and also subject to furnishing the KYC and last three years Income Tax Returns of new Directors: -

  1. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered unit entity.

  2. Fulfilment of all eligibility criteria applicable to unit, including security clearances etc. by the altered unit entity and its constituents.

  3. Annlioobility of and comolionca with oll Ravanua/Comnony Affnire/ SEBI etc. rules which regulate issues like capital gains, equity change, transfer, taxability etc.

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Minutes of the 131st Unit Approval Committee Meeting of Kandla SEZ held on 10.07.2018 at 11:30 hrs. under the Chairmanship of Shri Upendra Vasishth, Development Commissioner, Kandla Special Economic Zone.

  1. Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT), CBDT, Department of Revenue and to the Jurisdictional Authority.

  2. 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 and ownerships etc as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961.

  3. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable.

  4. The unit shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT.

AGENDA ITEM NO. 131.3.2

Subject: Request of Capital Foods Private Limited, KASEZ for change of Directors & foreign Direct Investment. Reg.:-

M/s Capital Foods Pvt. Ltd., KASEZ is a registered unit for Manufacturing of processed food products and trading of items as approved vide Letter of Approval dated 24.10.2003 issued vide F. No. KSEZ/IA/1962/2003-2004 dated 24.10.2003. M/s Capital Foods Pvt. Ltd. vide their letter No. Nil dated 24.05.2018 has intimated about changes in Directors and Foreign Direct Investment for taking on record. Ve

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Minutes of the 131st Unit Approval Committee Meeting of Kandla SEZ held on 10.07.2018 at 11:30 hrs. under the Chairmanship of Shri Upendra Vasishth, Development Commissioner, Kandla Special Economic Zone.

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----- Start of picture text -----<br> Now, M/s General Atlantic Singapore CF Pte. Ltd. has invested in this<br>company and accordingly, %age of foreign direct investment has been<br>changed. The revised share holding pattern of the company post new FDI<br>investment is as under:-<br>Name of | No. of |Face Value | Percentag | Status Route of<br>the Shares of| (In Rs.) e”. (%) of Remittance<br>Shareholde | Rs. 10 Shares of<br>i each Rs. 10<br>each of<br>total paid<br>Mr. Ajay 11,01,59)'. |:1, LO;LSSS Sh5S Resident | N.A.<br>Gupta (MD) | 3 0) Individua<br>Mr. Rakesh | 43,478 4,34,780 1.24 NRI Automatic<br>eT<br>lie:M/s Sagitta | 19,000 1,90,000 0.55RmForeign Equity<br>Investment Company | Shares are<br>issued<br>pursuant to<br>scheme of<br>Amalgamatio<br>n of Capital<br>Foods Ltd.<br>with Capital<br>Foods Pvt.<br>Ltd.<br>. M/s Artal 17,36,Lb)" | 1;73,69,02) 42070 Foreign Automatic<br>Asia Pvt. 2 O Company<br>Limited<br>Mi<br>16 ee<br>----- End of picture text -----<br>

Minutes of the 131st Unit Approval Committee Meeting of Kandla SEZ held on 10.07.2018 at 11:30 hrs. under the Chairmanship of Shri Upendra Vasishth, Development Commissioner, Kandla Special Economic Zone.

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----- Start of picture text -----<br> General Equity<br>Atlantic Fund<br>Singapore<br>CF Pte. Ltd.<br>edsTotal 34,93,38.. | 3,49;33,67 57. £00<br>----- End of picture text -----<br>

The Company has submitted Unique Identification Number (UIN) for Foreign Inward Remittances in respect of Investor M/s General Atlantic Singapore CF Pte. Ltd. issued by ICICI Bank Limited, Mumbai, Maharashtra on 07.05.2018.

In the present scenario the Board of Directors of the Company are as under: CemmaeShantanuRastogiShri Francis Victor ||[|Win] 13.12.201325.04.2018[a] NomineeM/sNomineeGeneralDirectorDirectorAtlanticofof The Committee noted that Department of Commerce vide Instruction No. 89 dated 17.05.2018 had issued guidelines regarding change in shareholding pattern, name change pertaining to SEZ units wherein change of name, change of shareholding pattern, etc. may be undertaken with the prior approval of Approval Committee in respect of units.

The Committee noted that there are changes in shareholding pattern as well as Private Equity Fund and Directors of the company; therefore, the Approval Committee after due deliberation decided to approve the proposal of change in Director of the company subject to flowing conditions: - 17 ee

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Minutes of the 131st Unit Approval Committee Meeting of Kandla SEZ held on 10.07.2018 at 11:30 hrs. under the Chairmanship of Shri Upendra Vasishth, Development Commissioner, Kandla Special Economic Zone.

  1. Seamless continuity of the SEZ _ activities with unaltered responsibilities and obligations for the altered unit entity.

  2. Fulfilment of all eligibility criteria applicable to unit, including security clearances etc. by the altered unit entity and its constituents.

  3. Applicability of and compliance with all Revenue/Company Affairs/ SEBI etc. rules which regulate issues like capital gains, equity change, transfer, taxability etc.

  4. Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT), CBDT, Department of Revenue and to the Jurisdictional Authority.

  • 5S. 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 and ownerships etc as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961.
  1. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable.

  2. The unit shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT.

Further, the Approval Committee directed the DC’s office to call for the Income Tax Returns for last three years as well as KYC of the new foreign x company and their nominated director. we 18 \L

Minutes of the 131st Unit Approval Committee Meeting of Kandla SEZ held on 10.07.2018 at 11:30 hrs. under the Chairmanship of Shri Upendra Vasishth, Development Commissioner, Kandla Special Economic Zone.

AGENDA ITEM NO. 131.3.3

Subject: - Permission to warehouse goods on behalf of foreign clients as well as DTA clients - Request of Warehousing Service Units of KASEZ.

In the 116t8 UAC meeting held on 19.07.2017, it was decided that the warehousing units in KASEZ will have to seek permission for any new items which they intend to warehouse on behalf of foreign clients as well as DTA clients and submit KYC of the client before warehousing the items.

The Committee noted that the following warehousing units of KASEZ requested for permission to warehouse goods on behalf of Foreign clients/DTA clients and submitted list of items to be warehoused in KASEZ alongwith KYC of clients.

Sr. No. Name of the KASEZ unit Whether KYC of
the clients
submitted
M/s. Unique Warehousing& Allied Services
2. M/s. Creative Free Trade Warehousing Pvt. ¥es
Ltd.
M/s. MysoreScentsCompany(Unit-II)

The Committee after due deliberation decided to take on records the items to be warehoused by the above units for respective foreign/DTA clients as submitted by the above units except: i aa ig Le

Minutes of the 131st Unit Approval Committee Meeting of Kandla SEZ held on 10.07.2018 at 11:30 hrs. under the Chairmanship of Shri Upendra Vasishth, Development Commissioner, Kandla Special Economic Zone.

    1. in the case of M/s. Unique Warehousing & Allied Services, the items Timber & Veneer (44039929 , 44089090) are not allowed to be warehoused in KASEZ due to the reason that members of the Committee felt that if this item would be permitted for warehousing then it will give severe pressure on day to day traffic system and Import/Export work as well as their transit.
    1. In case of M/s Exim Warehousing Committee decided that no second hand items will be permitted in any case.

The Approval Committee further discussed the issue of transit permission requirement raised by some units of KASEZ of import consignments lying on the ports for want of approval of UAC of certain new items and consequent demurrage loss incurred by them as meeting of UAC is being held once in a fortnight/months only.

After due deliberation the Committed decided to delegate the power to the Joint Development Commissioner, KASEZ to take necessary decision and on verification of the issue he may allow the unit to warehouse the goods and the same will be put up before the next UAC for its ratification.

AGENDA ITEM NO. 131.3.4

Subject: - Failure to execute lease deed or registered lease deed by KASEZ units.

  • 1, M/s. Naman Marketing
  1. M/s. Sarthak Warehousing & Trading 3. M/s. Mahamaya Construction

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Minutes of the 131st Unit Approval Committee Meeting of Kandla SEZ held on 10.07.2018 at 11:30 hrs. under the Chairmanship of Shri Upendra Vasishth, Development Commissioner, Kandla Special Economic Zone.

i None of the representative of the above mentioned units appeared for personal hearing before the Committee.

The Committee after due deliberation decided to defer the issue to the next UAC meeting and directed the DC’s office to intimate the above three units to remain present before UAC during next meetingand their licence will be liable for cancellation/suspension if they do not appear for personal hearing before the next UAC.

AGENDA ITEM NO. 131.3.5

Subject: - Ratification of request already approved in file

The Approval Committee ratified the permission granted by the Development Commissioner, KASEZ for one time permission for export of Split Betel Nuts as they have some export orders in their hand The meeting ended with vote of thanks of the chair. (UPENDRA VASISHTH) Development Commissioner

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