01/08/2018 पर NSEZ के अनुमोदन समिति की बैठक का कार्यवृत्त

clr(d (r6R, EIFrq Si s-frrr q1ldq, qlFlq EqFI h+rs 'rTrgffi +r orqf-cq +(Er Rns.flFt+ A7 ffq'el slefi' i-s, frfl-rr, ftgs1.2ot:os, hm - fi-argq qT t Government or ta1,i,?uY;H!:,xT,ff"i:.1 ;Xl*'*ffJ,. or Commerce' NOIDA SPECIAL ECONOMIC ZONE Noida Dadri Road, Phase-II, NOIDA-201305, Disft. Gautam Budh Nagar (UP) wr. €. rzlor/zore-frw frqio: 09/08/2018 t-dr t,

1. Es ol{qrmo. vM, q 3irs-dT .xhnFrr ft{m qTE-6-tul, 5-s ccflskr rr+q, +€t - s. irtsrt z. s{ftfIffi c-drBesro frtqr qrqrq, afiEq \ni stfr{ qardq, 'q fr,r, irw{ ,r+q, un{ fr ce", ri ft;d t
2. 3frgffi, snqor, ( z S, eno-+-t qfi, +€{ zq, iqgr t
3. engm, Sm E-cfi, n(rsr frqr E-tr rflTffrdq, flfis o-Lfl H, fudqdr, Erc0, drac Sd ;IrR, tsiR gt{t - loqioq. s. fie{r6, Efirs EqFr, EIFrq qd sfirr qrdq, qrd sfiFR, 3firr ffi{, Ti fud -11ooo1l 6, Bq qfuE (en{ sq'-l), &ftFrr m{rrt, 3flffi6 crc-d or funrr,fat riT-f,q, l{r{d sron, ilfrq ild, fio-q dq frfrrr iis{ crf, Ti Fdt z. rramhro, fror srlq ft-{, o-@ ft vru, qrugt, fa q}S-srt frcq: Fri-6. orloslzors ft1 qdid rr:so {i ondrfud r}rsl ffiq 3fififr &d o1 g,F-e erIrtfr{ qfrfr of +do ol o,If{t - (-ffi riti$t c-drdq, ES gqn-fi Eqq Er u<rf 6q silr d \td ff fr[d, fuors engffi, nqrsr Hs 3{rffo fr, at qqs{f,r i fu-+. ouos/2018 o1 Wk 11:30 tr$ s+m{ 6fd, q{TsR-o- rcn, +qsr mq 3{rffi6 Ar, +qsr i r{rmfur +(rs frq}q r{rtr'o. dr o1 {Fe 3rdfr<{ sfrH 01 +df, or olfg-d 'ra)ft-d o.G 61 q{qr gsfl ftt €ou-o: sqirsd sq f+ors s{rgfr qfrftrfr: t. frrsls orqfDmrfr - frors engffi b g++ft z. ffio s6rqr - {iTffi'fufls engfi fr qa-{r{t s. fiffe 3{ffi, n\rsr ffis qTffi-o. A? - W-{r{ (ti gflE{To. offi fu fts t +. gq fum-rs eng-fi (sqdD, +rgl ffiq 3{rtrm. d7 - qa-*{t feors ongm C'ry offt." , St"t" Tr"dt"g Corporalion of India Ltd.4th Floot ]awahar Vyapar Bhawar, Tolstoy Ma!& Neu Delhi- 00m 'Tel.ZoneOffice:[C-ode-iromousicte0120/fromDelhi95120)]567270,3027444/5/6,Fax:256814'2#7276 City Of6ce Telefax : 011-26855061: E-mail : <Jcrr'nsez trrv.ir> : Website: <!l{!yMZ.gq!J!>

o Noida Special Economic Zone (Minutes ol Meeting of Approval Commlttee of Nolda sEz held on 01/08/2018) Paee I of 2l The following members of the Approval Committee were present during the meeting:-

1. Shri S.S. Shukla, Jt. Development Commissioner, NSEZ.
2. Shri Rajesh Sharma, Asstt. Commissioner, Customs, Noida Commissionerate.
3. Shri Sachin fain, Asstt. Commissioner, DIC, Noida (Rep. of Principal Secretary lndustry, Govt. of UP.J
4. Shri R.L. Meena, Asstt. DGFT, 0/o Addl. DGFT, CLA, New Delhi' 5l Smt. Durgesh Nandini, Income Tax Officer, lncome Tax Deptt., Noida. 6l Shri Mukesh Goyal, Manager, (Rep. of Noida Authority).

Besides, during the meeting S/Shri (i) RK. Srivastava, Dy. Development Commissioner, NSEZ, (iiJ Raiesh Kumar, Dy, Development Commissioner, NSEZ (iiD Md. Salik Parwaiz, Specified Officer, NSEZ, (iv) Prakash Chand Upadhyay, Asstt. Development Commissioner, NSEZ, (vJ Rajendra Mohan Kashyap, PA to IDC, NSEZ, (vi) K M Srivastava, AEE, UPPCB, Noida, (vii) Kapil Muni, fE, UPPCL, Noida and (viii] Smt. Archana Bharti, Noida Authority were also present to assist the Approval Committee. 3. At the outset, DC, NSEZ welcomed the participants. After brief introduction, each items included in the agenda were taken up for deliberation one by one. After detailed deliberations as well as interaction with the applicants / representatives of the units, the following decisions were taken:- 04t07 l20lB. It was informed that no reference against the decisions of the Approval Committee held on 04/07 /2018 was received and, therefore, Minutes of the meeting held on 04/07 /2018 wereratined' L'^^*&-E- [,
Minutes of meeting of the Anoroval Committee of Noida SEZ held under the Chairmanship of Dr. L.B. Singhal. Development Commissioner (DC)' Noida SEZ at 11:30 AM on 01/08/2018 in the Conference Hall of NSEZ. (i)

o (Minutes ol Meeting of Approval Committee of Noida SEz held onO,/0al2olal Item wise decisions on proposals included in agenda: Pase2 of2l 1. Proposal of M/s. P.A. Pinions for setting up a unit in NSEZ. It was informed to the Approval committee that M/s. P.A. Pinion have requested to withdraw the application filed for setting up a unit in NSEZ. The Approval committee took note of the same. 2. Proposal in respect of M/s. Kriti Metform Ltd. for Monitoring of performance and renewal of LOA. It was informed to the Approval committee that M/s. Kriti Metform Ltd. has been issued LOA dated 28/12/2004 for Manufacturing, trading and service activities. The unit has commenced its export production w.e.f. 05/10/2007 and LoA of the unit was valid till 04 /t0 /2017. It was informed that unit had not applied for renewal of LoA on time. Besides, lease rent amounting to Rs.4,47,343/- is currently outstanding against the unit. It was also informed that unit has made exports worth Rs.716.53 Lakhs and earned positive NFE earnings worth Rs.673.32 Lakhs during previous block of five years. It was also informed that Unit has stated that they have not made any trading activities either export or DTA sale during last five years. The Approval Committee monitored the performance of the unit on the basis of APRs submitted by it up to 2016-17 and noted achievement of positive NFE by the unit' lt was further informed that the said proposal was earlier considered by the Approval Committee in its meeting held on 04/07 /2018. However, as no one appeared before the Approval committee, it was deferred for the next meeting of Approval committee with a direction to the unit to ensure their presence in its next meeting failing which their LoA shall not be renewed further. Shri sadeesh P. Suppiah, MD appeared before the Approval committee. Shri suppiah informed that they had applied for renewal of LoA on 13/L0/2017. The Approval committee observed that the unit vide its letter dated 13/10/2017, instead of applying for LOA renewal, had conveyed about acceptance of the terms & conditions of LoA. The fu-""*rJ:

Approval Commi$ee informed Shri Suppiah that since unit had renewal of LOA, the same couldn't be taken up for renewal. made request for Shri Suppiah regretted for the delay and stated that during last one year business, sales orders and financial conditions of the company were not so encouraging. He further submitted that as their business and export orders were badly affected, whole affairs of the company were disturbed and they could not concentrate on the company business in NSEZ. He further stated that they accept and realize that there is delay in depositing outstanding lease rent. Due to financial hardship and cash crunch, they could not deposit rent in time, which was not intentional. Shri Suppiah further informed that they have already deposited approx. Rs' 2 Lakhs on OL/08/20i.8 and produced proofofdeposit. Regarding remaining lease rent, he submitted that the same shall be deposited before end of August. He also informed that although they are currently not carrying out any trading activities, they may require trading activities at a later stage. The Approval Committee, after due deliberations, decided to renew the validity of LoA for current block of five years i.e. upto 04 /L0 /2022 subject to the following conditions:- No DTA sale of trading goods shall be allowed. Trading will be allowed only for physical export to any other country, for supply to other units and Developers in the same or other SEZ or EOUs, against freely convertible currency only. Unit will maintain separate area earmarked for manufacturing and trading activities and maintain separate records/accounts of NFE for manufacturing and rading activities. NFE status for manufacturing activity and trading activity will be seen separately. ) 3. 4. Proposal in respect of M/s, Aksasia Creations Pvt, Ltd. for renewal of LOA; change in shareholding pattern and monitoring of performance. lt was informed to the Approval Committee that M/s. Aksasia Creations Pvt. Ltd. has been granted an LoA No.0B/01/2005-Proi/1421 dated 21/02/2005 for setting up a unit in (Mlnutes of Meetlng of Approval Committee of Noida SEZ held on 0V08/2018) Paee 3 of2l (-^',.,* bb

lMinutes of MeetlnS of Approval commlttee of Noida sEz held on 01/08/20181 Pase 4 of 21 o Noida SEZ for manufacturing of "(i) Garments including garments of leather; (ii) Leather & Leatherite-Pu Goods such as Back Packs, Mobile Covers, Laptop & iPad Cases, Purses, office bags, Photo Frame, Various Box Covers, Wallet, Belt & other Decorative ltems made with Leather/Fake-Leather and other Accessories and creating design for goods etc.; (iii) Gift ltems with leather finish, Trims, Covering and leather with metal combo such as brass, stainless steel, copper & other metals used as combination with leather & Fake Leather (PU)". The unit has commenced its export production w.e.f.3l/07/2008 and LOA of the unit was valid up to 30 /07 /2018. It was also informed that unit has made exports worth Rs. 3.70 Lakhs and earned positive NFE earnings worth Rs.3.70 Lakhs during previous block of five years. It was further informed that unit has recently informed that the company has gone through many changes viz change in directors, shareholders and promoters and all previous directors have retired from the company. Details of change in shareholding pattern of the company is as under: Name Shareholding before change (as approved by BOA in its meeting held on 03/O7 l2tl7) Shareholding after change (w.e.t.2s/0vzots)

1. Shri Arvind Singh 20o/o
2. Smt. Chhaya Devi 60o/o 80o/o
3. Smt. Vatika Arya 20o/o 20o/o The Approval Committee observed that despite providing many opportunities by this office and promises made by the promoters to increase their export turnover, there have been exports from the unit worth Rs. 2.69 Lakhs and Rs. 1.01 Lakhs only during 2015-16 & 2Ot6-L7 respectively. As per NSDL data they have done export of Rs. 19 Lakhs during 20t8-t9. Shri Arvind Singh, Smt. Chhaya Devi and Smt. Vatika Arya directors appeared before the Approval Committee. Shri Singh informed that the company has gone through some changes and doing planning in order to expand the business. Also the company has been engaged in developing and increasing the infrastructure. Construction work is in full swing and once it is completed, their business expansion will go on as they have planned. (r-, J^b--

(Mlnutes of Meeting of Approval committee of Noida sEz held on 01/08/20181 Paee 5 of 21 o Shri Singh further informed that they have sent a shipment for leather messenger bags to Afganistan and few more will be sent shortly. He further stated that during the last one & a halfyear, they made some fresh investments in building, machinery and other assets of the company as follows: Values in INR Investment made in 0l/04/2077 to 3t/03/20L8 01/04/ZOLB ro 30/06/zot8 Total Building 1.,13,77,717 /- 8,27 ,890 /- 1,22,05,607 /- Fire Fighting Equipments 6,87,236/- 6,87,236/- Lift 45,000 /- 2,77,000 /- 3,22,00O/- 0mce & Electric Equipments L2,74,3Z8/- 7,07,O70/- 73,27,338/- Plant & machinery 35,000/- 18,31,300/- 78,66,300 /- Total L,33,53,281/ - 30,43,ZOO/- r,63,96,4A7 /- The Approval Committee observed that recently the BOA in its meeting held on 03/07 /20L7 had approved change in shareholding of the company for more than 5070. Now, the original promoter has transferred its remaining share to the newly inducted promoters. It was informed to the Approval Committee that a team from NSEZ visited the factory premises of the unit for physical inspection. During the site inspection, following were observed:- (i) The building structure was almost complete. Partitioning and installation of sewing machine were in progress. (iiJ Partitioning material and sewing machine which were to be installed, were found there. (iii) Approx. 10 workers were found working. It was informed to the Approval Committee that DoC vide lnstruction No. 89 dated 17 /OSl20l9 has issued guidelines regarding change in shareholding pattern, name change ofSEZ Developer and SEZ Units which inter alia states as under: " S(ii) Re-organisation including Change of name, change in shareholding k*^"*MJ.}

(Minutes of Meeting of Approval Committee of Noida SEZ held on 01/08/2018) Paee 6 of 2l o pattern, business transfer arrangements, court approved mergers and demergers, change in constitution of Units located in SEZs may be undertaken with the prior approval of Approval Committee in respect of Units subiect to the condition that the unit sholl not opt out or exit out ofthe Special Economic Zone and continues to operate as a going concern. All liabilities ofthe unitwill remain unchanged on such reorganization. 6. Such reorganization shall be subject to the following safeguards:' i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered entity; ii) Fulfilment of all eligibiliqt criteria applicable, including securi| clearances etc., by the altered entity and its constituents; iii) Applicability of and compliance with all Revenue / Company Affairs /SEBI etc. Acts/Rules which regulate issues like capital gains, equi| change, transfer, taxability etc. iv) Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (lT), CBDT, Department of Revenue and to th e juri sdictional Auth ority. v) The Assessing Officer shall have the right to assess the taxability of the gain/oss arising out of the transfer of equity or merger, demerger, amalgamotion, transfer and ownerships etc. as may be applicable and eligibility for deduction under relevant sections ofthe Income Tax Act, 1967. vi) The applicant shall comply with relevant State Government laws, including those relating to lease ofland, as applicable. vii) The unit shall furnish details of PAN and iurisdictional ossessing officer of the unit to CBDT.' The Approval Committee, after due deliberations, decided to take the intimation of unit for change in directors and shareholding pattern of the company on records in terms of Instruction No. 89 dated L7 /05/2018. The Approval Committee also decided to renew the validity of LOA for the block period ofnext five years i.e. upto 30 /07 /2023. : U^^,-r,-

(Minutes ot Meetint of Approval Committee of Noida SEz held on 01/08/2018) Pase 7 of 2l o 4. Proposal in respect of M/s. Hotz Industries Ltd. for monitoring of performance and renewal of LOA. It was informed to the Approval Committee that M/s. Hotz Industries Ltd' had been granted LOA dated 26/04/2007 for setting up a unit in Noida SEZ for manufacturing of (i) Manufacturing of Quilts, Cushion Covers, Curtains, Table Cover, Napkins & Garments; (ii) Manufacturing of Knitted Fabric. The unit has commenced its export production w.e'f. 10/12/2008 and LOA of the unit is valid vp to 07 /09 /2018. It was informed that the Approval Committee in its meeting held on 06/09/2017 had, extended the validity of LoA upto 07 /07 /2018 and decided that further renewal shall be considered on the basis of performance of unit during the extended period of validity of LOA, Later LOA of unit was extended for two months \tpto 07 /09 /2018 so that working of the unit does not suffer. Shri Arun fain, MD appeared before the Approval Committee. He informed that their company had some internal issues and the management could not focus on identifying new customers for export. But now all the issues are behind and Management is confident of achieving exports in the coming year. He further informed that they had received orders worth US$140,000 with a time schedule. The consignments were ready to export, but the same could not be cleared as they were advised by the Customs officials that "Knitted Fabric" was not covered in their LOA. Necessary permission was received by them on 09th October 2017 and this was only one time permission. They had made only one export on t0/10/20L7 as per the approval granted vide this office letter dated 09 /lO 12017 . The unit has further stated that since they were constrained for some time due to the L/C terms. Therefore, further export orders they had to execute from their other facility. Shri Jain further informed that they have now received orders for Export of uniforms and requested to give them an opportunity of proving their commitment to exports by extending the validity of LOA. The Approval Committee decided to extend the validity of LOA of the unit for one year and decided that further renewal shall be considered on the basis of performance of unit fu.-^^-'^}*S'

(Minutes of Meeting of Approval Committee of Noida SEz held on 01/08/20181 Paee 8 of 2l o during the extended period of validity of L0A. Shri lain requested to extend the validity for atleast tvvo years which will give their buyer some confidence in the company. Approval Committee further directed Shri fain to submit a brief write-up on the activities to be undertaken in future, which he mentioned during the meeting. The Approval Committee, after due deliberations, agreed with the request of the promoter of the unit and decided to extend the validity of LoA of M/s. Hotz Industries Ltd. for tvvo years. The Approval Committee further decided that after completion ofone year, performance of the unit shall be monitored by Approval Committee. 5. Proposal in respect of M/s. Golden Peakock Overseas Ltd. for inclusion ofadditional authorized operations, It was informed to the Approval Committee that M/s. Golden Peakock Overseas Ltd. had been issued LOA dated 16/10/1989 for Manufacturing activities. The unit commenced its export production w.e.f. 01./07 /1992 and LOA is valid till 3l/03/2022. It was informed to the Approval Committee that the unit has submitted a proposal for inclusion of Manufacturing & Export of MS/S. Steel wire crimped with Ferrule, Stud, eyelets and snap hooks with customized wire length with or without assembly of cable blocker funder ITC HS Chapter - 7312) in its authorized operations. Shri Praveen Gupta and Shri Gulshan Kumar, authorized representatives of the company appeared before the Approval Committee. Shri Gupta informed that they have three units in NSEZ which have cumulative turnover of approx. Rs.40 Crores. Shri Gupta further informed that they are getting enquiry about the above items from their International buyers. The Approval Committee directed them to submit a write up on manufacturing process of the above products as to what activities will be carried in-house; details of indigenous/imported raw materials etc. The Approval committee, after due deliberations, approved the proposal of unit for inclusion of Manufacturing & Export of MS/S. Steel wire crimped with Ferrule, Stud, eyelets and snap hooks with customized wire length with or without assembly of cable (.-u-^- k

(Minutes of MeetlnS of Approval committee ol Noida SEz held on 01/08/2018) Paee 9 of 21 o blocker (under ITC HS Chapter - 7312) in its authorized operations. Proposal in respect of M/s. Royal Refinery Pvt. Ltd. for inclusion of additional authorized operations. No one from the unit appeared for the meeting. The Approval Committee deferred the matter for its next meeting. nroporal in respect of M/s. Narayan Exports for change in partners and shareholding. It was informed to the Approval committee that M/s, Narayan Exports had been issued LoA dated 30lll/2005 for Manufacturing of Readymade Garments and Fabric Made-ups, Manufacturing of Headgear and Parts thereof under Chapter 65. The unit commenced its export production w.e.f. 24/03/2009 and LOA is valid till 23/03/2019. It was informed that name of the unit was changed from M/s. Backbay clothing to M/s. Narayan Exports after approval of Approval committee granted in its meeting held on 06/04/2016.lt was further informed that Approval Committee had also granted approval for change in partners and shareholding as the change in shareholding was less than 5070 as per following details: Name of shareholder Backbay Clothing Naravan ExDorts

1. Sh Hemant Talwar 33.340/o Resisned
2. Sh. Triloki Nath Agrawal 33.33o/o 50o/o
3. Smt. Meenu Aqrawal 33.330/o 25o/o
4. Sh. Vipin Kumar Agrawal 25o/o It was informed to the Approval Committee that unit has now proposed both promoters i.e. Mr. T.N. Agrawal (holding 500/o sharesJ and Smt. Meenu Agrawal 25% shares) will retire from partnership firm and Mr.0'N. Agrawal will join as wilh 750/o shareholding. as per following details: original (holding partner
5. Smt. Meenu
6. Shri ViDin Kumar f) r. A^ Kr^-. *^-- [iJ"""""

lMinutes of Meetlng of Approval Commlttee of Nolda sEz held on 01/08/2018) Paee l0 of2l o The Approval Committee observed that in the instant case total change in shareholding tantamount to 1000/o as none of the original promoters is now partner in firm. Shri Vipin Agrawal, Shri 0.N. Agrawal and Shri T.N. Agrawal appeared before the Approval Committee for the meeting. Shri Vipin Agrawal informed that currently there are 30-35 employees working in the unit. He further stated that they have achieved turnover of approx. Rs.65 Crores from their DTA units. He also stated that it will take 2-3 years to start full-fledged operations in the NSEZ unit. Shri Vipin Agrawal further informed that Shri O.N, Agrawal has a long experience of business and presently doing well in the field of home furnishing items. He is promoter in three other firms. The total business of the firms in which he is partner is more than Rs.900 Million and approx. 700-800 employees are currently working there' lt was informed to the Approval Committee that DOC vide Instruction No' 89 dated 17 /05/Z}LB has issued guidelines regarding change in shareholding pattern, name change ofSEZ Developer and SEZ Units which inter alia states as under: "S(ir) Re-organisation including Change of name, change in shareholding pattern, business transfer arrangements, court approved mergers and demergers, change in constitution of Units located in SEZs may be undertaken with the prior opproval of Approvol Committee in respect of Units subiect to the condition that the unit shall not opt out or exit out ofthe Special Economic Zone and continues to operate as a going concern. All liabilities ofthe unitwill remain unchanged on such reorganizotion. 6. Such reorganizotion shall be subiect to the following safeguards:- Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered entity; Fulfilment of all eligibility titeria applicable, including securiA clearances etc., by the altered entity ond its constituents; Applicability of and compliance with all Revenue / Company Affairs /SEBI etc. Acts/Rules which regulate issues like capital gains, equity change, transfer, taxability etc. ii) iii ) k-w""-* [*

iv) Full Jinancial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member 0T), CBDT, Department of Revenue and to ch e juri sdictiona I Auth ority. v) The Assessing )Jficer 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. os may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 7967. vi) The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. vii) The unit shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT." The Approval Committee, after due deliberations, decided to take the intimation of unit for change in partners and shareholding pattern of the company on records in terms of Instruction No. 89 dated 17 /05/20L8 sublect to payment ofapplicable transfer charges. 8. Proposal in respect of M/s. Viiayshree Food Products Directors. Pw. Ltd. for change ln It was informed to the Approval Committee that M/s. Vjayshree Food Products Pw. Ltd. had been issued LOA dated 27 /05/2011 for Manufacture & Export of Spit Tobacco. The unit has commenced its export production w.e.t. L6/05/2013 and its LOA is valid till ts/os/2023. It was informed that unit had recently executed Bond-cum-LUT and during examination of Bond-cum-LuT executed by the unit, it was observed that there was a change in directors of the company which was never intimated to this office. lt was further informed that now the unit has informed about change in directors ofthe company as under: Directors before change Directors after change

1. Mr. Prashan Kumar Bothra
2. Mr. Mankeshwar Singh
3. Mr. Kamal Kumar Sharma
4. Mr. Mankeshwar Singh lt was also informed that there is no change in shareholding pattern of the company due (Minutes of Meetlng of Approval Commlttee of Noida SEZ held on 01/08/2018) Paee 11 of2l (.t-,r.^* hJ7

a (Minutes of MeetinS of Approval Committee of Nolda SEZ held I n oTlosl2olsl Pase 12 of 2l to the change in directors. The Approval Committee observe( that the change in directors took place on 29 /06/2015. However, unit has never intimaded this office about the said changes, which is a violation ofcondition No. L4 of Bond-cum LUT executed by the unit. Shri Ritesh Kumar Patawari, authorized representative of the company appeared before the Approval Committee. Shri Patawari informed that they afe into manufacturing of spit tobacco and export the product to USA, Europe, East Africal South Africa etc. There are currently 6 employees working in the unit. He further me{tioned that newly inducted director Shri Kamal Kumar Sharma has vast knowledge an experience in the tobacco business. Shri Patawari stated that they inadvertently could not inform this office about the said changes due to oversight without any malafide/willful intentions. He apologized for the same and assured that such mistake will not be repeated in future. The Approval Committee, after due deliberations, decided to take the intimation of unit for change in directors ofthe company on records. The Approval Committee also warned the unit to be more careful in future for timely compliances. The Approval Committee also directed the unit to submit detailed Bio-data in respect of new director Mr. Kamal Kumar Sharma as well as names & address of companies/firms in which he is engaged as director/partners/ proprietor. 9. Proposal in respect of M/s. Naimex Patterns of the firm. for change ln partners and shareholding lt was informed to the Approval Committee that M/s. Naimex has been issued an LOA dated 22/08/2007 for Manufacturing of Geo Technical Investigation Instruments and Construction Materials testing equipment & Trading Activities. The unit has commenced its export production w.e.f. 17 /12/2008 and LOA is valid till 76/12/2018. lt was further informed that recently the unit vide its letter dated t7/05/2018 had executed Bond-cum-LUT. During examination of Bond-cum-LUT executed by the unit, it was observed that the said Bond-cum-LUT was signed by Mr. Pranav Kapur and Mrs. Vaneeta Kapur in the capacity of partners. However, as per available records in the office, Shri Arvind Verma and Smt. Neena Verma are partners in the firm. Unit has never
(". u^^"-^

o (Minutes of Meetlng of Approval Commlttee of Noida SEz held on 0V08/2018) Paee 13 of2l intimated this office about change in partners, which Bond-cum-LUT. violation of condition No. L4 of Shri Arjun Bhushan Uppal, authorized representative of the unit appeared before the Approval Committee. He informed that the partners have been changed due to death of previous partner i.e. Smt. Neena Verma on 19 /10 /20L4 and Shri Arvind Verma on 02/04/2018. He further stated that Smt. Vaneeta Kapur and Shri Pranav Kapur have been appointed as new partners, as being legal heirs ofSh. Arvind Verma. It may be informed that at the time of setting up of unit, Shri Arvind Verma and Smt. Neena Verma were partners with following shareholding pattern:- Name of partner Shareholding pattern during 2007

1. Sh. Arvind Verma 50o/o
2. Smt. Neena Verma 500/o Now, due to change in partnership deed, new shareholding pattern offirm is as under:- Name of partner New Shareholding pattern (iJ Sh. Pranav kapur 50o/o (ii) Dr. Vaneeta kapur 50o/o It was informed to the Approval Committee that DOC vide lnstruction No.89 dated 77 /05/201.8 has issued guidelines regarding change in shareholding pattern, name change ofSEZ Developer and SEZ Units which inter alia states as under: " S(ii) Re-organisation including Change of name, change in shareholding pattern, business transfer arrangements, court approved mergers and demergers, change in constitution of lJnits locaced in SEZs may be undercaken with the prior approval of Approval Committee in respect of Units subiect to the condition that the unit shall not opt out or exit out ofthe Special Economic Zone and continues to operate as a going concern. All liabilities of the unitwill remain unchanged on such reorganization. 6, Such reorganization shall be subiect to the following safeguards:' Seamless continuity of the SEZ activities with unaltered (", t^^"--^

(Minutes ot Meeting of Approval Committee o, Noida SCZ held on 0f/08/2018) Paee 14 of2l o responsibilities and obligations for the altered entity; ii) Fulfilment of all eligibility titeria applicable, including securi
clearances etc., by the altered entity and its constituents; iii) Applicability of and compliance with oll Revenue / Company Affairs /SEBI etc. Acts/Rules which regulate issues like capital gains, equiy change, transfer, taxability etc. iv) Full Jinancial details relating to change in equity/merger, demerger, amalgomation or transfer in ownership etc. shall be furnished immediately to Member (lT), CBDT, Department of Revenue and to th e ju ri sd i ction al Auth ority. v) The Assessing Officer shall have the right to dssess tfte taxability of the gain/oss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc' as may be applicoble and eligibility for deduction under relevant sections ofthe Income Tax Act, 7967. vi) The applicant shall comply with relevant State Government lows, including those relating to lease of land, as applicable. vii) The unit shall furnish detaits of PAN and iurisdictional ossessing officer of the unit to CBDT." The Approval committee observed that there is change in 100% shareholding pattern of the unit which happened due to death oforiginal promoters and transfer oftheir shares to the legal heirs. Hence, Approval Committee was of view that transfer charges will not be applicable in this case. The Approval Committee, after due deliberations, decided to take the intimation of unit for change in partners and shareholding paftern of the firm on records in terms of lnstruction No. 89 dated L7 lO5/zOtB. The Approval Committee also warned the unit to be more careful in future and should ensure mandatory timely compliances. 10. Proposal in respect of M/s. Stabte Packaging Pw. Ltd' (Unit-l) for Monitoring of performance in terms ofRule 54 ofsEZ Rules,2006 in view ofexit request ofunit. Ir was informed to the Approval Committee that M/s. Stable Packaging Pvt. Ltd. [Unit-l) had been granted LoA dated 2o/tl/2008 for (i) Manufacture of corrugated boxes, polyester and polyethylene bags (printed & plain), box strapping self-adhesive tape. (iiJ kr-^*hJ;--

(Mlnutes of MeetlnS of Approval commlttee ol Nolda sEz held onoTloalzole, Paee 15 of2l o Trading of Corrugated boxes, polyester and polyethylene bags (printed & plain), various kinds of paper and polythene granules, adhesive tape, box strapping, starch and glue, stapler pin and other various kind of adhesive powders and chemicals' The unit had commenced its export production w.e.f.08/05/2009 and LOA of the unit is valid up to 07 /0s1200e. It was informed that Approval Committee in its meeting held on 03/01/20L8 had approved the proposal for exit from SEZ scheme under Rule 74A of SEZ Rules, 2006 and transfer of its assets & building at Plot No. lLgA, L20 & 121, NSEZ to M/s. Ebix Software India Pvt. Ltd. funit-lll) subiect to fulfillment of exit formalities by M/s. Stable Packaging Pvt. Ltd. (Unit-l) and payment of applicable transfer charges. Accordingly, decision of the Approval Committee was conveyed to the unit vide this office letter dated I0/01/2018. It was further informed that in terms of Rule 54 of SEZ Rules, 2005, it is for Approval Committee to arrive at conclusion that unit has achieved positive NFE' It was also informed that unit has submitted all the documents related to exit from SEZ scheme as asked vide this office letter dated I0/01/2018. Shri Sushil Gupta, director of the unit appeared before the Approval Committee. He informed that they have another unit in NSEZ with the same name & title. Due to this they will not be able to provide NOC from Service Tax & Trade Tax, but they have undertaken that if there is any liability arising on Unit-l from the departments Unit-ll will be liable to pay the same. The Approval Committee monitored the performance of the unit on the basis of APRs submitted by it up to 2018-19 and noted achievement of positive NFE by the unit' The Approval Committee further observed that no foreign exchange is pending for realization as on date. ln view of above, the Approval Committee, after due deliberations, granted final exit to the unit. 11. Proposal in respect of M/s. Windermere Exports Pvt' Ltd. for Monitoring of performance in terms ofRute 54 ofSEZ Rutes,2006 in view ofexit request ofunit. It was informed to the Approval Committee that M/s. Windermere Exports Pvt. Ltd. was granted an LoA dated 06/L2/2006 for on-line tutoring. The unit commenced its export

(Minutes of Meetint of Approval Committee of Noida SEZ held on 0U08l2018) Paee 16 of 21 O activities w.e.f. f0/04/2007 and LOA of the unit was valid up to 09 /04/2017. It was informed that Unit was granted In-principle exit approval for exit from SEZ scheme vide this office letter dated 20/L0/2016 and unit was advised to submit requisite documents for compliance with exit formalities. Unit vide its letter dated 09 /01/2017 and subsequent letters received on 06/06/2018 & 09/07/2018 has submitted all the documents related to exit from SEZ scheme as asked vide this office letter dated 20/1Ol2\t6.lt was further informed that in terms of Rule 54 of SEZ Rules, 2006, it is for Approval Committee to arrive at conclusion that unit has achieved positive NFE. Shri B.B. Jindal, director of the company appeared before the Approval Committee. He informed that due to worldwide recession during 2008-09, their exports started declining. He further informed that they have tried their best but they could not get new export orders and due to that they decided to exit from NSEZ. The Approval Committee monitored the performance of the unit on the basis of APRS submitted by it up to 2018-19 and noted that unit has been lying non-functional since 201.1-12. The Approval Committee further observed that no foreign exchange is pending for realization as on date. In view of above, the Approval Committee decided that unit may be allowed final exit from the SEZ subject to compliance of exit formalities. 12. Proposal in respect of M/s, M.D. Overseas Ltd. for Monitoring of performance in terms of Rule 54 ofSEZ Rules, 2006 in view ofexit request ofunit' It was informed to the Approval Committee that M/s. M.D. Overseas Ltd' had been granted LOA dated 29/Ol/2004 for Manufacturing of fewellery of Gold/Silver/ Platinum and Palladium (Plain or Studded with Diamond/ Colour Stones/ Precious & Semi-precious stones). The unit commenced its export production w.e.f.15/0512004 and LoA of the unit is valid up to 14/05/2079. It was informed that Unit was granted In-principle exit approval for exit from SEZ scheme vide this office letter dated 19/07/2017 and unit was advised to submit requisite documents for compliance with exit formalities. Unit vide its letter dated 09 /tl/20L7 and subsequent letters dated L5/L7/20t7, 22/L1./20L7, 29/12/2017, 09/01/20t8' 15/OL/}OIB, OB/O31?OLB,28/0512018, L5/0612018 & 29/0612018 has submitted all

(Mlnutes of Meeting of Approval Committee of oida SEZ held on 01/08/2018) Pase l7 of 2l o the documents related to exit from SEZ scheme as asked vide this office letter dated 19 /07 /2Ol7.lt was further informed that in terms of Rule 54 of SEZ Rules, 2006, it is for Approval Committee to arrive at conclusion that unit has achieved positive NFE. Shri B.B. findal, director of the company appeared before the Approval Committee' He informed that they are not working since 201.2-13 and hence they have decided to exit from SEZ scheme. It was informed that vide this office letter dated L8.07.2018, Deputy Commissioner, Commercial Tax Department has been requested to confirm as to whether any liability of their department falls against the said unit. If no response is received within 15 days from issue of this office letter, it would be presumed that no amount of Trade Tax are outstanding against the said unit and final exit shall be considered based on available records and without further reference in the matter. Reply awaited from the depaftment. The Approval Committee monitored the performance of the unit on the basis of APRs submitted by it up to 2017 -78 and noted that unit has been lying non-functional during current block of five years w.e.f. 15/05/2014. The Approval Committee further observed that no foreign exchange is pending for realization as on date. ln view of above, the Approval Committee decided that the unit may be allowed final exit subject to compliance of exit formalities. 13. Proposal in respect of M/s. Heuer International (A division of G.S.T. Corporation Ltd.) for Monitoring of performance. It was informed to the Approval Committee that M/s. Heuer International (A division of G.S.T. Corporation Ltd.) had been issued LOA dated,07 /07 /2006 for (il Manufacturing of medical/surgical devices, including manufacture of orthopedic implants, instruments accessories, orthotics aids, resuscitator silicon project and ii) Trading items as per list in file (52 items). The unit has commenced its export production w.e.f . ?7 /07 /2007 and LOA of the unit is valid till 26/07 /2022. It was informed that proposal in respect of M/s. Heuer International for Renewal of LoA; Change of directors and Monitoring of performance was considered by the Approval committee in irs meeting held on 03/01/2018 and then again in04/07 /2018. During the k*-

o (Minutes ot Meeting of Approval committee of Nolda sEz held ono].lo8l20L8l Pase 18 of21 meeting, Shri Manu Grover, Director of the company appeared before the Approval Committee and informed that they have achieved negative NFE in respect of the Trading Activities performed by them, as they were not aware that they have to make DTA sale against foreign exchange only otherwise it will not be counted towards NFE. The Approval Committee directed that the unit will not be allowed to do DTA sale in future in respect of Trading Activities. The Approval Committee observed that the data furnished by NSEZ Customs does not match with the data indicated in APRs by the unit. The Approval Committee directed the unit to reconcile the data as indicated by them in APRs with the data provided by Customs, NSEZ and submit reconciled data to this office. The Approval Committee in its meeting held, on 04/07 /2018 had also decided to take the intimation of unit for change in directors on records and extend the validity of LOA for a current five years block subject to condition that no DTA sale will be allowed in respect of Trading Activities. Shri Manu Grover, MD appeared before the Approval Committee. He informed that they have discussed with their buyer as well as bank and they agree to the fact that remittance against DTA sale in respect of Trading activity should be against USD payment in lieu of INR. The unit has further stated that as this process will take some time and requested to grant them time to rectiry the payment mode. Shri Grover further informed that the data submitted in APRs have been mentioned incorrectly as they were not aware that they have to make DTA sale against foreign exchange only otherwise it will not be counted towards NFE. The Approval Committee directed the unit to submit following: (il Reasons for submission of wrong data in APRs, (ii) Revised APRs for the current block of five years i.e. from 20t2-13 to 2017-18 duly certified by Chartered Accountant. (iii) Break-up of Export and DTA sales in foreign exchange and Indian Rupees in respect of manufacturing activities duly certified by Chartered Accountant' (iv) Details of Expor! import, NFE earnings, DTA sales in respect of Trading activities (*u-^*hA--

o (Mlnuter ot Meetlng of Approval Commlttee ot Noida SEZ held on 0V08/2018) Paee 19 of 2l duly certified by Chartered Accountant. Unit requested for two months' time Approval Committee agreed. submit the aforesaid documents to which The Approval Committee, after due deliberations, decided to defer the matter for monitoring of performance of the unit for two months and directed the unit to submit above documents within this period along with the explanation in writing for incorrect data mentioned in APRs. Approval Committee further directed Mr. Grover that DTA sale may be done as per section 2 (z) (iii) of SEZ Act, 2005. 74. Proposal in respect of M/s. Mosaic ITES Services Pvt. Monitoring of performance. ttd. for Review of LOA and It was informed to the Approval Committee that M/s. Mosaic ITES Services Pvt' Ltd. has been issued LOA dated 07 /07 /2006 for service activities viz Search Engine Optimization, Technical Services - Like Web & Software Designing, AD Networking Content Services, Press Release & Emails, Link Building Services, SMO & PPC Services. The unit commenced its export activities w.e.f. 1.9 /ll/2010 and LOA of the unit was valid till lB/lt/20t5. It was informed that M/s. Mosaic ITES Services Pvt. Ltd. vide this office letter dated 29/03/2016 was informed that validity of their LOA has expired (on LB/17/2015) and consequently lease deed rights have ceased to exit, therefore they were requested to handover the possession of allotted premises and pay applicable duties on imported or indigenous capital goods, raw materials, component, consumables, spares and finished goods lying in stock & any other Government dues and also complete the exit formalities as per Rule 74 of SEZ Rules, 2006 within 30 days from receipt of this letter. The unit was also given option that in case they desire to continue export production in Noida SEZ, they may apply for renewal of LOA along with credible business plan, which will be considered on merit, within 30 days. It was further informed that in reply to this office letter dated 29/03/2016, unit vide its letter dated 19/04/2016 had applied for renewal of their LOA for next five years. The same was examined and thereafter this office vide letter dated' 03/05/2016 & reminder dated. 16/06/2016 advised unit to submit following documents/ information for further hr^.*hr--

O Paee 20 of 2l consideration in the matter:- (i). 0nline application for renewal of LOA at SEZ online. (ii). Clear entire outstanding lease rent in respect ofSDF allotted to them. (iii). Present status of foreign exchange of Rs.5.54 Lakhs pending for realization. (iv). APRs for the 20L4-LS & 2015-1.6 not yet submitted. (v). Reasons for delay submission of request for LOA renewal along with credible business plan. (vi). Whether any exemption is being claimed and if yes, under which section and whether Income Tax Deptt. has disallowed exemption at any time? (vii). Whether any penalry has been imposed by Income Tax Deptt.? If yes, give complete details thereof. [viii). Details of transaction with sister concerns raising issue of transfer pricing, if any. However, unit has not submitted aforesaid documents/ information till date. It was also informed that unit has not submitted APR for the year 201.4-15. Further, as per information received from EM Section, NSEZ, Lease rent amounting to Rs. 8,39,167/- is currently outstanding against the unit. Shri Mukesh Mittal, authorized representative of the company appeared before the Approval Committee. He informed that they want to operate from NSEZ and requested to renew the L0A. He further informed that they have deposited Rs.2 Lakhs against outstanding lease rent and assured to clear entire outstanding lease rent within one month. The Approval Committee, after due deliberations directed the unit to submit all the required documents in respect to renewal of LOA along with APR for the period 2014-L5. The Approval Committee also directed the unit to clear entire lease rent outstanding against them within one month. The Approval Committee further decided that on receipt of the documents, the same may be examined and placed before the Approval Committee for consideration. (Minutes of MeetlnS ot Approval Commlttee of Nolda SEZ held on 0V08/2018) (* u-".-. d"*-F2

lMinutes of MeetlnS of Approval Committee of Noida SEz held on 01/08/2018) Pase 2l of 2l Meeting ended with a vote of thanks to the Chair. n0 csw ft. Development Commissioner Following cases for monitoring of performance/APRs under Rule 54 of SEZ Rules, 2006 were also placed before the Approval Committee, The unit wise decision of the Approval Committee are indicated below:- (il M/s. Dynamic Components Pvt. Ltd. - The Approval Committee monitored the performance ofthe unit on the basis ofAPRs up to 2016'L7 and noted achievement of positive NFE by the unit. The Approval Committee also noted that the unit has submitted copy of realization certificate in respect of pending forex worth Rs. 16.97 Lakhs as on3l/03/2017 which have been realized within prescribed time'