Minutes of the 141st meeting of Approval Committee

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Minutes of the 141st Unit Approval Committee Meeting of Kandla SEZ held on 13.02.2019 at 16:30 hrs. under the Chairmanship of Shri Satyadeep Mahapatra, Development Commissioner(i/c), Kandla Special Economic Zone.

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|Following were|present:|.|
|1.|Shri.|Sanjay|Kumar|:|Joint|Commissioner|of Income|Tax,|
|Gandhidham.|
|2.|Shri.|A.|K.|Moria|:|Assistant|Commissioner,|Customs,|Kandla,|
|Gandhidham-Representative|of|
|Commissioner|of Customs|Kandla.|
|3.|Shri.|P.|C.|Ravindran|=:|Assistant|DGFT,|
|Rep.|of Jt.|DGFT,|Rajkot.|“|

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Absentees:-

1. Director (Banking)

2. SDM ’

3. DIC

Review/Confirmation of the minutes of last meeting (140t8UAC) of the Approval Committee:-

Minutes of the last meeting of Approval Committee was confirmed.

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Minutes of the 141st Unit Approval Committee Meeting of Kandla SEZ held on 13.02.2019 at 16:30 hrs. under the Chairmanship of Shri Satyadeep Mahapatra, Development Commissioner(i/c), Kandla Special Economic Zone.

—0560Nqoo———— 141.1 MISCELLANEOUS ITEMS

AGENDA ITEM NO. 141.1.1

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Intimation for change in Directorship of M/s Schmetz India Pvt. Ltd., KASEZ

M/s Schmetz India Pvt. Ld., KASEZ is an approved unit for manufacturing of Industrial Sewing Machine Needles, Household Sewing Machine Needles, special purpose needles like felting tufting etc. in Kandla Special Economic Zone, Gandhidham vide LoA No. KASEZ/IA/1656/96/11808 dated 24.02.1997, as amended from time to time. The said unit has now intimated regarding change in the Managing Director and Directors as under: -

1.	Mr. Ajay Kothary	1. Mr. Mohit Prabhakar
	(Managing Director)	(Managing Director)
2.	Mr. Alexander Mesdaghi	2. Dr. Anton Reinfelder
	(Director)	(Director)
3.	Mr. Rajan J. Jain	3. Mr. Markus Settegast
	(Director)	(Director)

The Committee noted that the Ferd Schmetz Gmbh continues to be 100% shareholder and neither outgoing nor incoming Directors hold any share in the company and further 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. ‘

Therefore, the Approval Committee after due deliberation decided to approve and take on record the proposal of change in Directors of the company subject to following conditions: -

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

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

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Minutes of the 141s* Unit Approval Committee Meeting of Kandla SEZ held on 13.02.2019 at 16:30 hrs. under the Chairmanship of Shri Satyadeep Mahapatra, Development Commissioner(i/c), Kandla Special Economic Zone.

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 of transfer in ownership etc. shall be furnished immediately to Member(IT), CBDT, Department of Revenue and to the Jurisdictional Authority.

5. 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.

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

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

AGENDA ITEM NO. 141.1.2

Delayed submission of Form F1 and evaluation of criteria as per the amended Rule 19(6A) & 19(6B) of SEZ Rules, 2006 for renewal of LoA of M/s. Indokoyo Power Products, KASEZ.

M/s. Indokoyo Power Products, KASEZ is an approved unit for manufacturing activity of Agriculture & Irrigation Machinery, Casting & Forging Development and Reconditioning of Starter & Alternator vide Letter of Approval No. KASEZ/IA/1861/2001-02/11352 dated 01.12.2001. The unit started its authorized activity w.e.f. 29.03.2003.

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Shri Anand Mehta, authorised representative of the firm appeared before the Approval Committee and explained the reasons for delayed submission of Form F1.

The Committee noted that the unit has explained the reasons for the delay in filing of Form F1 as detailed in their written submission and therefore, the Approval Committee after due deliberation noted that there were genuine reasons for delay in filing of Form F1 and decided to condone the delay and to approve the renewal of their LoA for further period of five years with original terms and conditions.

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Minutes of the 141st Unit Approval Committee Meeting of Kandla SEZ held on 13.02.2019 at 16:30 hrs. under the Chairmanship of Shri Satyadeep Mahapatra, Development Commissioner(i/c), Kandla Special Economic Zone.

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AGENDA ITEM NO. 141.1.3 Delayed submission of Form F1 and evaluation of criteria as per the amended Rule 19(6A) & 19(6B) of SEZ Rules, 2006 for renewal of LoA of M/s. Pruthvi Lubricants Pvt. Ltd., KASEZ.

M/s. Pruthvi Lubricants Pvt. Ltd., KASEZ is an approved unit for manufacturing activity of Lubricating Oils and Greases and Auto Care Products - Hydraulic Brake Fluid & Antifreeze Coolant vide Letter of Approval F.No. KASEZ/1IA/03/2006-07/1147 dated 05.06.2006. The unit started its authorized activity w.e.f. 14.02.2008.

Shri Uday J. Shah, Director of the company appeared before the Approval Committee and explained the reasons for delayed submission of Form F1.

Shri Shah briefed about their company and submitted written presentation before the Committee and further stated that due to financial issue in personal capacity they could not start their activity in KASEZ during the last five years. But, now they have overcome the financial crisis and now backed with all the necessary finances/infrastructure and further stated that their Mother Company in Vadodara had made turnover of Rs. 44 crores last year and this year they are going to cross the turnover of more than Rs. 50 crores. Now to shift some of their business from Vadodara to KASEZ and also there will be cut in cost of transportation as they are importing oil based products regularly at Kandla/Mundra Port. He further stated that they have already paid the rental dues and requested to consider their request for renewal of their LoA.

The Committee noted that the unit has explained the reasons for the delay in filing of Form F1/LoA renewal. Therefore, the Approval Committee after due deliberation noted that there were genuine reasons for delay in filing of Form F1 and decided to condone the delay and to approve the renewal of their LoA for further period of five years with original terms and conditions.

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AGENDA ITEM NO, 141.1.4

Delayed submission of Form F1 and evaluation of criteria as per the amended Rule 19(6A) & 19(6B) of SEZ Rules, 2006 for renewal of LoA of M/s. Shanlok International, KASEZ.

M/s. Shanlok International, KASEZ is an approved unit for trading activity of all items except prohibited, canalized & restricted items, plastic waste/scrap, second hand clothing, metal scrap, polyester yarn, polyester fabric, battery scrap as per HBP, as amended from time to time vide Letter of Approval F.No. Cha

: Minutes of the 141st Unit Approval Committee Meeting of Kandla SEZ held on 13.02.2019 at 16:30 hrs. under the Chairmanship of Shri Satyadeep Mahapatra, Development Commissioner(i/c), Kandla Special Economic Zone.

KASEZ/1A/1953/2003-04 dated 03.09.2003, as amended. Their LoA was further broad-banded vide this office letter dated 18.08.2010 for warehousing activity. The unit started its authorized activity w.e.f. 14.02.2004.

Shri Gaurav Gadodia & Shri Sharvan Bhatia, Partners of the firm appeared before the Approval Committee and explained the reasons for delayed submission of Form F1.

The Committee noted that the unit has explained the reasons for the delay in filing of Form F1 as detailed in their written submission and also cleared the pending rental dues. Therefore, the Approval Committee after due deliberation noted that there were genuine reasons for delay in filing of Form F1 and decided to condone the delay and to approve the renewal of their LoA for further period of five years with original terms and conditions.

AGENDA ITEM NO. 141.1.5

Renewal of LoAs of Plastic Recycling Units and Worn & Used Clothing Units - consultation with major stakeholders including representatives of various industries.

The representatives of both plastic recycling units and worn & used clothing units appeared before the Committee and submitted joint representations by both these industries.

Further, one of the spinning unit viz. M/s. Texool Spinners, KASEZ has also submitted their individual representation.

The Committee accepted the representations received and decided to forward the same to the Committee constituted by the BoA for further consideration.

The meeting ended with vote of thanks of the chair.

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----- Start of picture text -----<br> (Satyade ahapatfra)<br>Development Commissioner(i/c)<br>----- End of picture text -----<br>

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