Minutes of the 4th meeting of Approval Committee

Minutes of the 4th meeting of Approval Committee (2009-10) held on 09/07/2009 at 1500 hrs. at KASEZ, under the Chairpersonship of Dr.(Mrs.) Maya D. Kem, Development Commissioner.

Following were present:

1 Shri Upendra Vasishth, JDC Nominee of MOC 2 Shri D.B. Parmar I/c GM, DIC 3 Shri K.H. Mehta ITO, Gandhidham

Absent:

(1) Director (Banking)
(2) Asstt. Collector, Anjar (3) Jt.Director General of Foreign Trade (4) Jt. Commissioner (Cus), Kandla

I. Review/confirmation of minutes of last meeting of the Approval Committee:

Minutes of last meeting of the Approval Committee were confirmed.

II. Following proposals for setting up units in Kandla Special Economic Zone were taken up for consideration:

(i) M/s. Narayan Marine Tech Pvt. Ltd., Bhavnagar:

Proposal is to set up a unit for manufacturing/service activity unit for reconditioning/refurbishing and commissioning of marine equipments, power plants and industrial machineries. Mr. Hetal Shah, Director appeared for interview and put forth the following clarifications:-

¾ They are already in the business last 12 years and their last year’s export was Rs.5.00 crores. ¾ They will bring industrial and shipping equipments and refurbish it and export to the customers in overseas. They will maintain one to one correlation. ¾ Project cost is Rs.140 lakhs. They have a credit facility with State Bank of India for Rs.1.1 crores and also there is a proposal for enhancement of the credit facility. ¾ Net worth Rs.4.6 crores. Paid up capital Rs.75 lakhs.

They have a credit facility with State Bank of India for Rs.1.1 crores and also there is a proposal for enhancement of the credit facility. ¾ Net worth Rs.4.6 crores. Paid up capital Rs.75 lakhs. ¾ IEC No.2407007972 dated 19/2/08. ¾ Employment 25 to 30. ¾ Requirement of space about 3000 sq.mtrs.

  Observations/clarifications the Committee:

• 2 - ¾ FOB value of the of exports for the 5 year project period is Rs.8929 lakhs with a NFE of Rs.6983 lakhs.

Proposal was approved subject to verification of IEC.
(Action: IA-I Section) (ii) M/s. Syndiciate Printers Ltd., Noida:

Proposal is to set up a unit for manufacturing of Range of Tickets, Labels, Wristbands, other Paper Tickets, Restauran Pads, Scratch Cards and kinds of paper and stationery products. Mr. Pradeep Mangal, Financial Controller appeared for interview and put forth the following clarifications:-

¾ They have surrendered the earlier approval due to global economic recession. However, they have good orders and are now decided to set up the unit in KASEZ. This as a part of their shifting business from overseas.
¾ IEC No. 0500010099 dated 24/5/2009. ¾ Project cost is Rs.989 lakhs and will be met from self finance and if necessary they will go for Bank loan.
¾ Net worth Rs.7.00 crores. ¾ Requirement of space about 24000 sq.mtrs.

  Observations/clarifications the Committee: 

¾ FOB value of the of exports for the 5 year project period is Rs.12256 lakhs with a NFE of Rs.5766 lakhs. ¾ Party was asked to give copy of balance sheet.

rvations/clarifications the Committee:

¾ FOB value of the of exports for the 5 year project period is Rs.12256 lakhs with a NFE of Rs.5766 lakhs. ¾ Party was asked to give copy of balance sheet.

Proposal was approved subject to verification of IEC and obtaining the balance sheet.
(Action: IA-I Section)

DC 09-07-2009