IN FORCE SEZ / EOU / FTWZ 2025-01-29

Agenda of Approval Committee meeting to be held on 30.01.2025 -MINDSPACE SEZ

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----- Start of picture text ----- diva fasts aifite eta SEEPZ SPECIAL ECONOMIC ZONE HOT (a), Has ANDHERI (EAST), MUMBAI amtadt& fer AGENDA FOR aut Hgsrte fasta wet wisde fetes a fae ata fete fers anfite ata & fee sales fate ft ton! aeMEETINGee ME,OF THE APPROVALAPPROVAL COMMITTEECOMMITTEE FORFOR SECTORSECTOR SPECIFIC SPECIAL ECONOMIC ZONE FOR IT/ITES OF M /s. MINDSPACE BUSINESS PARKS PRIVATE LIMITED. eat : WH ete, afacla aay, faere sare Hates, Hest-vasss, HON (Ta), Aas VENUE : Conference Hall, 2°¢ Floor, The Office of the Development Commissioner, SEEPZ-SEZ, Andhcri (ast), Mumbai feet =: TRAN, 30 Setakt, 2025 DATE : Thursday, 30'* January, 2025 Wat : We: 11:30 at TIME : 11:30 AM RERKEKKEKERKAEEKEKKRKREKKK KEKE EEK ----- End of picture text -----

January 2025 at - a 3st a ; fasta oat oigde feftes-vagas % angdvangdigee & fw ate fae faee ania aa foesalenafaie_ at toa]

Meeting of the Approval Committee for Sector Specific Special Economic Zone for IT/ITES of M/ s. Mindspace Business Parks Private Limited-SEZ under the Chairmanship of Development Commissioner, SEEPZ-SEZ on 30" January 2025.

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|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|areadt wa|a.|||fawa|
|-|a|—AgendaltemNo.|||Subject|
|arethaAgenda|aq|wate|01:-|31.12.2024|at HRA SA|doa|a|ardgeaaft ge|
|Item|No.|01:-|Confirmations|of|the|minutes|ofthe|mecting|held|
|ee|eea|ee|||on|31.12.2024,|||Me|
|areal|Ag|HATH|02:-|Fat|dew|soubur aleuiawede|fares|Ar|
|Agenda|Item|No,|02:-|weft|&|verenar|deel|a|oRader|sit ees|
|||||Hse|Ar|adh|F|aRacet|(wasite-33)|
|Change|in|Shareholding|Pattern|and|change|in|the|
|listGeBBSof BoardHealtheareof DirectorsSolutionsof|the|PrivateCompanyLimited, ofM|/s.|
|i|_|area|:|_|_—|_|(LOA-33)0|
|Agenda|aq|ware|03:-|ee|Feu|sour|aiegein|wigde|fawRes|A|
|Item|No,|03:-|aul|a|eerenftar|tet|F|Rader|ste|Pree|
|visa|Fy|ut|A|oftade|(warziv-03)|
|Change|in|Shareholding|Pattern|and|change|in|the|
|list|of Board|of Directors|ofthe Company|of|M|/s.|
|||GeBBS|Healthcare|Solutions|Private|Limited.|
|L|a|eee|||
|arhadt|||—__(LOA03)|
|Agenda ae|ware|04:-|||Feet dew soudax|aleagia usd Aes A|
|Item|No,|04:-|||suet|&|harenftar|det|a|oftacer|atte|Peers|
|||Hse|Hy|yet|AF|aRace|(wersitw-a2)|
|Change|in|Shareholding|Pattern|and|change|in|the|
|list of Board|of Directors|of|theCompany|of M|/s.|
|GeBBS|Healthcare|Solutions|Private|Limited.|
|aareAgenda|ae|wae;|05:-:|:Aud|des|sowhay(LOA-42) Heaia _|wede— fafaes|||
|Item|No. 05:-|||Bt|dust &|aerenftar|deat|at|oftacar|atte|||

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||OO<br>|<br>eee<br>aorta<br>aa sare 06:-|OO<br>|<br>eee<br>aorta<br>aa sare 06:-|OO<br>|<br>eee<br>aorta<br>aa sare 06:-|:|||Barer sigeAYaeARad**a**rfate) <br>Change in Shareholding Pattern<br>nd change in the<br>list OfBoard ofDirectors of the Companyof M/s.<br>GeBBS Healthcare Solutions Private Limited.<br>(LOA=58)<br>Wot PITH, 2006& Pera 53& sepa Aut||<br>|<br>||
|---|---|---|---|---|---|---|---|---|
||Agenda|Item No. 06:-|||||«Wawa usa freee afftar sar orede||
||||||||feimes (yd F Swadl acsarss afdsar sar||
||||||||yigae foafAes & wo FASet rat a) &<br>water Fy fetal ater|||
||||||||Monitoring performance ofM /s. SS&C||
||||||||Fintech Services India Private Limited||
||||||||(Formerly known as DST Worldwide||
|||||||||Services India Pvt. Ltd.)in terms ofRule<br>93 ofSEZ Rules, 2006.||
||<br>||artelag wai 07<br>AgendaItem No.07:-|||||‘War faa, 2006 &fray53&ape Aare |<br>«Ae tataistor gBar agde faresa<br>valet AY fetentel HAT|||
||||||||Monitoring performance ofM/s. Ness||
||||||||T**e**chnologies India Private Limited in<br>t rms ofRule 53 ofSEZ Rules, 2006.||
||ora<br>Agenda|ae wate 08:-<br> Item No. 08:-|||||Hot flaw, 2006 & fra 53 & sepa Aa<br>HSsefesia TAMes (vasite-49) & vaste|||
||||||||AY fetaRrel ATI||
||||||||Monitoring performance ofM /s. Course5||
||||||||Intelligence Ltd. (LOA-49) in terms ofRule||
|||||||||53 ofSEZ Rules, 2006.||
||-cardaatt<br>ae watias 09:-<br>Agenda Item No. 09:-|||||||tortfear, 2006& Raat53& aaa AT<br>Texts woilee afedat wisde fafaes &<br>WerleAlferalAxe<br>|<br>Monitoring performance ofM /s.||
|||||||||Sutherland Global Services Private||
|||||||<br>|||Limited in terms of Rule 53 ofSEZ Rules,<br>2006.||<br>||

WRK R AERA REKRRKEKRRR KK

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— Name Action taken for the UAC Meeting held on 31.12.2024 of SEZ __ Name of Unit _ Subject | Action Taken Mindspace-SEZ Mis. State Street Syntel_ | Monitoring — performance Monitoring noted anda Services Pvt. Ltd. of the respective units in | letter issued to the unit, (LOA-47) terms of Rule 53 of SEZ | dated 14.01.2025, Unit is Rules, 2006. directed to file all DPSFs an — — Mindspace-SEZ 7 for the monitored period _ M/s. State Street Syntel Monitoring — performance Monitoring noted and Services Pvt. Ltd. of the respective units in letter issued to the unit, (LOA-22) | terms of Rule 53 of SEZ | dated 14.01.2025. Unit is Rules, 2006. directed to file all DPSFs : om == ' a oe : for the monitored period|

|farapc Rada<br>chtHemeraA31.12.2024atfaciaactwhos Garde, vhostvadsts,<br>yas A<br>Aad agswe fiorta ceri urede fats - vagsts, tel, adh dag & as fasts fastw<br>afte aa & ferg arquler afAfa hl131¢f<br>dow ar arial]<br>Minutes of 1315' Meeting of the Approval Committee for Sector Specific Special Economic|farapc Rada<br>chtHemeraA31.12.2024atfaciaactwhos Garde, vhostvadsts,<br>yas A<br>Aad agswe fiorta ceri urede fats - vagsts, tel, adh dag & as fasts fastw<br>afte aa & ferg arquler afAfa hl131¢f<br>dow ar arial]<br>Minutes of 1315' Meeting of the Approval Committee for Sector Specific Special Economic|farapc Rada<br>chtHemeraA31.12.2024atfaciaactwhos Garde, vhostvadsts,<br>yas A<br>Aad agswe fiorta ceri urede fats - vagsts, tel, adh dag & as fasts fastw<br>afte aa & ferg arquler afAfa hl131¢f<br>dow ar arial]<br>Minutes of 1315' Meeting of the Approval Committee for Sector Specific Special Economic|farapc Rada<br>chtHemeraA31.12.2024atfaciaactwhos Garde, vhostvadsts,<br>yas A<br>Aad agswe fiorta ceri urede fats - vagsts, tel, adh dag & as fasts fastw<br>afte aa & ferg arquler afAfa hl131¢f<br>dow ar arial]<br>Minutes of 1315' Meeting of the Approval Committee for Sector Specific Special Economic|
|---|---|---|---|
|Zone of M/s. Mindspace|Business Parks Pvt. Ltd.<br>-||SEZ, Airoli, Navi Mumbai, underthe|
|Chairmanship of Development Commissioner, SEEPZ-SEZ held on 31.12.2024, atSecond||||
|FloorSEEPZ Service Centre, SEEPZ SEZ, Mumbai.||||
|1. Name of the SEZ|:|M/s. Mindspace Business|Parks Pvt. Ltd.|
|2. Sector|:|ITATES||
|3. Meeting No.|:|131%||
|4. Date|:|31.12.2024||
|suf<br>Beer:<br>:<br>TSA SlATT<br>NameofMembers||Oe<br>elAy<br>Designation|are<br>Organization|
|afto-h<br>Ua. rrecte<br>Smt. Mital S. Hiremath||aah te<br>oy sTGeh,<br>Jt. Development|Hfhast-ey<br>SEEPZ-SEZ|
|||Commissioner||
|alt<br>SitSe<br>UMTa<br>Shri. Leider Panicker||YH SYR ata<br>Joint Commissioner|aa Higen aralea, Hag<br>aahaa<br>Nominee of Commissioner of Income Tax|
|||Income Tax|Office, Mumbai|
|3<br>[shaig<br>eeaid<br>aaRea dtaftead<br>Shri. Himanshu Dhar Pandey |Deputy Director, DGFT|||Sateen Staged, Fe<br>Prat<br>/<br>{Nominee of the Additional DGFT,|
||||Mumbai|
|A<br>rat TAH||3<br>Ofte eh|rd<br>=<br>a,<br>7<br>yo|
|Smt. Poonam Dharade||Deputy Director of|Nominee of DC Industries, Government|
|||Industries|of Maharashtra|
|Smt. Meera Ramkrishnan||Asstt. Commissioner of|Att / Nominee ofCommissioner of|
|||Customs|Customs, General, Air Cargo, Sahar,|
||||Mumbai|
|A SE<br>FATS SIT<br>Shri JayManoj Shah||ouferare sirges aur<br>AA EE sifted,|aes,<br>SEEPZ-SEZ|
|||Dy. Development|ngSety-vasas,|
|||Commissioner, SEEPZ-||Mindspace-SEZ|
|||SEZ and Specified||
|||Officer||
|dow4agradt sikGaredare & fery sft<br>Shri. G.S.Bhandari, ADC (NewSEZ) and<br>SHya.cisn,ysthh (=Gagsts) sie sft etterwét,<br>Shri Hanish Rathi,ADC (NewSEZ)<br>also<br>geht(=vases) ftsofa 2<br>attended for assistance and smooth||||
|||functioningofthemeeting.||

130dardyeltdow He Sea& ariga 01: 25.11.2024At yfe at satiate AgendaMinutesItem No.of the 130"01 : meeting Confirmationheld onof 25.11.2024

aon & Gigafeats 25.11.2024 ht adaara ant S of arratfsra Ang1 30dfaA 3 ferra 06 are & att zaftra aot at ante don F wat & Pz eu z

25.11.2024The Minutes were ofconfirmed the 130!"with Meetingconsensus.held on The committee has directed to put up all the deferred cases of last 06 months in the next meeting.

arg ue deem 02: vadsts Rus, 2006 & fan 54 & dex A tad Ke wie fea afd msde fafts (vesiv-47) & fasta a¥ 2019-20 a 2024-25 (sr) (6 af AY orafd & fay) & fav Aurea @ Eaerh

Agenda Item No. 02: Monitoring performance for the FY 2019-20 to 202425(part) (for the period of 6 years) of M/s. State Street Syntel Services Pvt. Ltd. (LOA47) in terms of Rule 54 of SEZ Rules, 2006.

SEEPZ/NEW-SEZ/SERENE-THANE/47/201415/13527, feat 12.11.2014 (sea aI er oF)

SEEPZ/NEW-SEZ/SERENETHANE/47/2014-15/13527, DATED 12.11.2014 (Original LOA)

a¥ 2019-20 @ 2024-25 (a1) & feu anita The Annual Performance Report for the years Proves Ruté sag grr Wega At 1g garg 3 faa 2019-20 to 2024-25 (part) was submitted by af 2019-20 (ftresat seites ar Sat a) & fay det the unit. The unit has achieved positive NFE of STU UX 26,375,53/- are sad siz fa af Rs. 26,375.53/- an on cumulative basis for ial es a Bre ore ot weer YeAaBlock) during and 34,377.02/-the FYs 2020-21 Lakhs onto 2024- cumulative wl é 25(part).

Profa:- Pofa:- frare-faaet & are, aff a wasst= ~——Ceeccision:- After deliberation, the Committee fram, 2006 & Pras 54 & def a noted the performance of the M/s. State agsala-vadas F tad Sz ez ta afida Street Syntel Services Pvt. Ltd. (LOA-47) at orgaz fAfAes (eersity-47) & eels at ate Bro Mindspace-SEZ in terms of Rule 54 of SEZ garg ea fery4 fraé af 2019-20 (wa wit an Sat ag) NFERules,of 2006.Rs. 26,375.53/- The unit hasLakhs achievedon cumula posi t iveive fara Fae STEM OX 26,375.53/- aE waa sik : + av 2020-21 @ 2024.25 (am & dhe set basis for the FY 2019-20 (5 Year of the HNMR Previous Block) and 34,377.02/- Lakhs on UR 34,377.02/- ara Sad al AeA cumulative basis during the FYs 2020-21 to Gays erfeter fora & 2024-25 (part). HTS Gt seit sat 2019-20 F 2024-25 (uM) & it was directed that the Unit shall file all fery att afta Ser Gar wee wi aret aS pending DSPFs for the block period 2019-20 Préar fear rar aie Pee aifsenrt at sak to 2024-25 (part) and also directed Specified corfu six garg Er arax cifaa aleas Officer to certify the SOFTEXs filed by the paroftenean og Rate weqa aed ar oft Ager Rear wie TT

;

arigelne dem 03: vadsts faq, 2006 fay = Agenda Item No. 03: Monitoring 54 & dey Ft tad ee Hic feta aflaa orgaz performance for the FY 2020-21 to 2024fates (wesity-22) & fasta av 2020-21 & 25(part) (for the period of 5 years) of M/s. gesfa AY Amert 22) in terms of Rule 54 of SEZ Rules, 2006.

THANE/09/(LOA-22)/2010-1SEEPZ-SEZ/NEWSEZ/SERENE-1/3099, feta, 07.03.2011 (et srquter a3)

SEEPZ-SEZ/NEWSEZ/SERENETHANE/09/(LOA-22)/2010-11/3099, dated 07.03.2011 (Original LOA)

a¥ 2020-21 2024-25 (um) & faery arte The Annual Performance Report for the years Pro Ruté garg gra veda at ng garg 3 faa 2020-21 to 2024-25 (part) was submitted by ag 2020-21 (fltset scien ar Sai av) & fare seach the unit. The unit has achieved positive NFE of STR UX 1,07,175.01/- ara ad sik faa ay Rs. 1, 07, 175.01/- Lakhs on cumulative basis 2020-21 # 2024-25 (umm) (aaHTA atts 4 ak) for the FY 2020-21 (5"” Year of the Previous & chs ead sere oF 85,598.10/- ara era Ft Block) and 85,598, 10/- Lakhs on cumulative TORI eg feet ger aifsta Ars basis during the FYs 2020-21 to 2024-25 (part) (4 years of the present block). favfa:- frar-faaei & are, afffa a vadats Pram, Decision:- After deliberation, the Committee 2006 & Fran 54 & desi Ff agsade-vadas F noted the performance of the M/s. State Fad Ve die ta afida mae Pfs Street Syntel Services Pvt. Ltd. (LOA-22) at (Gasity-22) & vesia at ate Pear sang 3 a af Mindspace-SEZ in terms of Rule 54 of SEZ SMEAR2020-21 (fect xii. ar Sai; anf) & fery wat: NFERules, of Rs.2006.1, 07,The unit175.01/-has Lakhs onachieved positive IR 1,07,175.01/- aires wae atte fore af cumulative basis for the FY 2020-21 (5!" Year 2020-21 @ 2024-25 (umm) (Aare wits 4a) Or the previous Block) and 85,598.10/- Lakhs & ahr seed oma oz 85,598.10/- ara ard ST, cumulative basis during the FYs 2020-21 to wera Tayng erfeer fear 8 2024-25 (part) (4 years of the present block).

garg wl eifes staf 2020-21 8 2024-25 (4M) it was directed that the Unit shall file all fey art cfaa Seadiqw afea aet ar Aer pending DSPFs for the block period 2020-21 fear Tar aik fee sifted at saa paroftencur to 2024-25 (part) and also directed Specified aR garg grt aaa cfea atueas & garter Officer to certify the SOFTEXs filed by the oR Raté vega wet ar oft gar fear var MBI. aoe sere ol eae Weara & ary dos Bs Meeting concluded with a vote of thanks to the Chair.

(aa Teter, siTgyTa) Hume = -ue-fererra sige,

| |

pigialyatil signed by DAvapdenwar~ s Bhalchandra Date: 2025.01.07 16:09:47 IST

GOVERNMENT OF INDIA, OFFICE OF THE DEVELOPMENT COMMISSIONER, SEEPZ SPECIAL ECONOMIC ZONE ANDHERI (EAST), MUMBAI

EKKKEKKKEKKKKRKRERKKKK RRR

AGENDA NOTE FOR CONSIDERATION OF APPROVAL COMMITTEE

a) Proposal: -

Proposal of M /s. GeBBS Healthcare Solutions Private Limited. (LOA-33) for Change in Shareholding Pattern of the Company and change in the list of Board of Directors.

b) Specific issue on which decision of Approval Committee is required:-

i. Approval for Change in Shareholding Pattern of the Company.

ii. Approval for Change in the list of Board of Directors of the Company.

c) Relevant provisions of SEZ Act, 2005 & Rules, 2006/ Instruction/ Notification: -

MOC&I Instruction No. 109 of MOC&I dated 18.10.2021.

d) Other Information: -

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| Name of the Unit _ |M /s. GeBBS Healthcare Solutions Private | 2. | Location Limited. (LOA-33) | of the Unit Unit No. 401, 4%» Office Level, Bldg No. 05 & Thane Belapur Road, Airoli, Navi Mumbai- | | 40070806, Mindspace Business Parks Pvt. Ltd.-SEZ, ——— —o | 3. | LOA No. & Date SEEPZ-SEZ/NEWSEZ/SERENE-E = eg THANE/33/2011-12/1094 dated 20.01.2012 4. | Item of Manufacture/Service IT Enabled Services: _ a | | a. Revenue Accounting (Receivable) | b. | Medical Transcription c. Insurance Claim Processing d. Data Processing ec. Back Office Operations 6.5. | Date ofCommencement. 01.10.2013 BT | Validityof LOA | 30.09.2027 a | ----- End of picture text -----

i

| j

¢ The detailed list of the Shareholding Pattern (Pre & Post) are as under:

LIST OF SHAREHOLDING PATTERN (PRE & POST):

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----- Start of picture text ----- Sr. | Name & Address PAN Pre Approval-Shareholding Post Approval- No. of the Pattern Shareholding Pattern Shareholder | 7 - ee ; a ee ee No, of | Percentage No of Percentage ashes1 _ ; | Shares | __ Holding | Shares| Holding InvestmentsCitron AAHCC5614L 22,72,395 | 73.26% | 30,76,445 99.19% | Limited, Suite | 504, 5! Floor, St | James Court, | Mauritiu| Port Loui s 11328, | | 2 | Playa AAYFP6107D | 5,96,960—— 19.25% =- 5 - _. Technologies LLP, | | Plot No. | 109,GeBBS | House, 131 Street, Central Road, MIDC- (East),Marol, AndheriMumbai- ; 400093, Maharashtra, —.jIndia = — : : a a Thakor, Flat No. | 3 | 04,Mr. VijayTahiti SinghSociety, AADPT2549Q 1,71,600 5.53% - - Juhu, Versova | | Link Road near | : | | HDFC, BankNagar, Andheri Azad || | | (West), Mumbai-, | Maharashtra- | 4 Link Investment | AABTL3833H 34,605 1.12% | - - Trust (through its | Srivastava),trustee Mr, Vikas | | Second Floor, Q-8 | HauzEnclave,Khas New || | 5 Mr. Milind AEHPG9675A 25,232 | 0.81% 25,232 | 0.81% Godbole, D 1203, | Lake Lucerene, | Lake Homes } Phase 3, Powai, | Maharashtra- Mumbai, | _| 400076, India | a 6 | Mr. Vecrasundar_ |AATPV8999A_| 564 0.02% ‘| ae. . ----- End of picture text -----

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----- Start of picture text ----- No. 55, Adarsh | Serenity, | Kannamangala | | Amethyst,near Sobha White || | Field Hoskote | | Road, Bangalore, _| Karnataka- | | az Mr.560067, India _ ADOPG1707F| 321 EE| 0.01% - oe- BhupindersinghKarnamsingh | || | Grewal, 604 Juhi | | Greens. Plot 15 & | 17, Sector 50- | | Old. Seaqoods | | Navi Mumbai- | } 400706 | | a I ES7;7 100%— | 31,01,677— |100%a || There is Change in Shareholding Pattern of the company. * Details of the Directors of M /s. GeBBS Healthcare Solutions Pvt. Ltd. Sr.No.1. |Nameof the Person | Designation __ Date of Appointment 2. MILIND RAMAN GODBOLE | CEO & Managing Director | 01.04.2013. | NITIN VIJAYSINGH THAKOR | Director 03.12.2018 3.| 4. AKSHATBABBAR Director —03.12.2018 6.5. SAJAYSANJAY JALONA KUKREJA t 7 DirectorDirector 03.12.2018 26.07.2022 ell | ELLIOTT, JOSEPH | __ Director | s«d:7.04.2023 Sr._______ ProposedList ofDirectorsand change in the composition ofboard _ 1, No. |" __Name ofthe Person | Designation 2. | MILIND RAMANGODBOLKE CEO & Managing Director 3.4. | _AKSHATELLIOTT,BABBAR JOSEPH _ : | DirectorDirector ———— 5. | VISAY MUKUND KUMAR RAGHAVAN Director |HARI GOPALAKRISHNAN 4 | Director CS ----- End of picture text -----

» There is Change in Shareholding Pattern of the company.

The unit has submitted following documents/Information:

Copy of all Letters of Approval of their units within M /s. Mindspace Business Parks Pvt. Ltd.-SEZ.
Board Resolution — Addition of New Directors.
Copy of CA certified Board of Directors list (Existing & Proposed) with New Directors, Form DIR-12 of Appointment & Cessation of Directors, Copy of Aadhar & Pan Card.
Board Resolution copy of change in sharcholding pattern dated 22.11.2024.

Copy of CA certified Sharcholding Pattern dated 22.11.2024 & 27.11.2024.
Undertaking in terms of Instruction No. 109 dated 18.10.2021.
Board Resolutions copy of change in share holding pattern dated 27.11.2024. 8. Form PAS-03 for allotment of additional equity capital to the existing equity shareholder of the company.

MOC&I Instruction No. 109 dated 18.10.2021 states that: “ In suppression of Instruction No. 89 dated 17.05.2018 of their Department on the subject cited above and in exercise of provisions of Section 10(10) of the SEZ Act, 2005, it is hereby conveyed that the guidelines for approval in the cases of reorganization including change of name, change of sharcholding pattern, business transfer arrangements, court approved mergers and demergers, change of constitution, change of Directors, etc of SEZ Developers/CoDevelopers as well as SEZ unit shall be as follows.

“ Re-organization including change of name, change of shareholding pattern, business transfer arrangement, court approved mergers and demergers, change of constitution, change of Directors etc. may be undertaken by Unit Approval Committee concerned subject to condition that the Developer/Co-Developer/Units shall not opt out or exit out of the Special Economic Zone and continues to operate as a going concer. All liabilities of the Developer/ Co-Developer will remain unchanged on such re-organization.”

e) ADC’s Recommendation:-

Mindspace Proposal of M /s. GeBBS Healthcare Solutions Pvt. Ltd. (LOA 33) located at of Business Parks Pvt. Ltd. - SEZ Airoli, Navi Mumbai for change in Composition Board of Directors & Change in the Sharcholding Pattern of the Company in terms of MoC&lI Instruction No. 109 dated 18.10.2021 is submitted before the Approval Committee for consideration.

RARER RERERRIKRK RR eR

GOVERNMENT OF INDIA, OFFICE OF THE DEVELOPMENT COMMISSIONER, SEEPZ SPECIAL ECONOMIC ZONE ANDHERI (EAST), MUMBAI

KHEKRKKKKKKKEKRKRKEEKKKKEK

AGENDA NOTE FOR CONSIDERATION OF APPROVAL COMMITTEE

a) Proposal: -

Proposal of M /s. GeBBS Healthcare Solutions Private Limited. (LOA-03) for Change in Shareholding Pattern of the Company and change in the list of Board of Directors.

b) Specific issue on which decision of Approval Committee is required:-

i. Approval for Change in Shareholding Pattern of the Company.

ii. Approval for Change in the list of Board of Directors of the Company.

c) Relevant provisions of SEZ Act, 2005 & Rules, 2006/ Instruction/ Notification: -

MOC&I Instruction No. 109 of MOC&I dated 18.10.2021.

d) Other Information: -

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i a

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¢ The detailed list of the Shareholding Pattern (Pre & Post) are as under:

LIST OF SHAREHOLDING PATTERN (PRE & POST):

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----- Start of picture text ----- Sr. | Name & Address | PAN Pre Approval-Sharcholding Post Approval- No. of the Pattern Shareholding Pattern Shareholder | : No. — — pepe 1 ~—.|__ Shares _ Holding | Shares | Holding | Citron AAHCCS614L | 22,72,395 73.26% 30,76,445 99.19% Investments —— of | Percentage | No of Percentage JamesLimited,Court, Suite | | | 504, 5‘ Floor, St | ——|MauritusPort Louis 11328, | | 2 Playa AAYFP6107D 5,96,960= 19.25%= fe- . a -ae Technologies LLP, Plot No. 109,GeBBS House, 13th Street, Central ; | Marol,Road, MIDC-Andheri (East), Mumbai- 400093, Maharashtra, India 3 | Mr. Vijay sesSinghties ———AADPT25490 1,71,600a : 5.53%: ~ 7 Thakor, Flat No. 04, Tahiti Socicty, | Juhu, Versova Link Road near | | Nagar,HDFC, AndheriBank Azad | | Maharashtra- (West), Mumbai-, | 4 Link Investment | AABTL3833H 34,605 1,12% | - - ; Trust (through its | | trustee Mr. Vikas Srivastava), Second Floor, Q-8 | Hauz Khas | | Enclave, New 5 Mr. Milind AEHPG9675A 25,232 0.81% 25,232 0.81% Godbole, 1) 1203, Lake Luccrene, | [Maharashtra-] Mumbai,PhaseLake Homes 3, Powai, a|| __ - |; _ |a | ----- End of picture text -----

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» There is Change in Shareholding Pattern of the company.

* Details of the Directors of M /s. GeBBS Healthcare Solutions Pvt. Ltd.

==> picture [439 x 191] intentionally omitted <==

----- Start of picture text ----- penne _ — ____ Existing List ofDirectors Sr.No. ; _ - — | | Name ofthe Person | Designation _ Date ofAppointment E*a | MILIND RAMAN GODBOLE | CEO& Managing Director iL _ 01.04.2013 | 3. NITIN VIJAYSINGH THAKOR | —__—CéDirector | | 03.12.2018 4. ___| AKSHAT BABBAR Director ___03.12.2018 5S. | SANJAY KUKREJA | _Director 03.12.2018 | | SAJAYJALONA Director 6| ELLIOTT, JOSEPH _| Director Ls 26.07.202217.04.2023 [ Sr. No.i| ___Proposed List___Name of of Directors and change in the composition of board J ] 1. the Person Designation _ | 2. | AKSHATMILIND RAMAN GODBOLEBABBAR- - || CEO & ManagingDirector Directoral ng 4. __| VIJAY MUKUND 5. __| HARIGOPALAKRISHNANKUMAR RAGHAVAN| __|| DirectorDirector ----- End of picture text -----

The unit has submitted following documents/Information:

Copy of all Letters of Approval of their units within M /s. Mindspace Business Parks Pvt. Ltd.-SEZ.
Board Resolution — Addition of New Directors.

==> picture [1 x 5] intentionally omitted <==

----- Start of picture text ----- | ----- End of picture text -----

Copy of CA certified Board of Directors list (Existing & Proposed) with New Directors, Form DIR-12, Copy of Aadhar & Pan Card.
Board Resolutions copy of change in sharcholding pattern dated 22.11.2024.
Copy of CA certified Shareholding Pattern dated 22.11.2024 & 27.11.2024. 6. Undertaking in terms of Instruction No. 109 dated 18.10.2021. 7. Board Resolutions copy of change in share holding pattern dated 27.11.2024. 8. Form PAS-03 for allotment of additional equity capital to the existing equity shareholder of the company.

MOC&I Instruction No. 109 dated 18.10.2021 states that: “ In suppression of Instruction No. 89 dated 17.05.2018 of their Department on the subject cited above and in exercise of provisions of Scction 10(10) of the SEZ Act, 2005, it is hereby conveyed that the guidelines for approval in the cases of reorganization including change of name, change of shareholding pattern, business transfer arrangements, court approved mergers and demergers, change of constitution, change of Directors, cte of SEZ Developers/CoDevelopers as well as SEZ unit shall be as follows.

“ Re-organization including change of name, change of shareholding pattern, business transfer arrangement, court approved mergers and demergers, change of constitution, change ofDirectors etc. may be undertaken by Unit Approval Committee concerned subject to condition that the Developer/ Co-Developer/ Units shall not opt out or exit out of the Special Economic Zone and continues to operate as a going concern. All liabilities of the Developer/ Co-Developer will remain unchanged on such re-organization.”

e) ADC’s Recommendation:-

Mindspace Proposal of M /s. GeBBS Ilealthcare Solutions Pvt. Ltd. (LOA-O3) located at of Business Parks Pvt. Ltd. - SEZ Airoli, Navi Mumbai for change in Composition Board of Directors & Change in the Shareholding Pattern of the Company in terms of MoC&I Instruction No. 109 dated 18.10.2021 is submitted before the Approval Committee for consideration.

KEKE RHA RRR RARE RK EKER RK

ISS

GOVERNMENT OF INDIA, OFFICE OF THE DEVELOPMENT COMMISSIONER, SEEPZ SPECIAL ECONOMIC ZONE ANDHERI (EAST), MUMBAI

KEREEKREKEKRERERREKERREEK

AGENDA NOTE FOR CONSIDERATION OF APPROVAL COMMITTEE

a) Proposal: -

Proposal of M /s. GeBBS Healthcare Solutions Private Limited. (LOA-42) for Change in Sharcholding Pattern of the Company and change in the list of Board of Dircctors.

b) Specific issue on which decision of Approval Committee is required:-

i. Approval for Change in Sharcholding Pattern of the Company.

ii. Approval for Change in the list of Board of Directors of the Company.

c) Relevant provisions of SEZ Act, 2005 & Rules, 2006/ Instruction/ Notification: -

MOC&I Instruction No. 109 of MOC&I dated 18.10.2021.

d) Other Information: -

==> picture [426 x 272] intentionally omitted <==

----- Start of picture text ----- | 1. |Nameofthe Unit |M /s. GeBBS Healthcare Solutions Private Limited. (LOA-42) 2. | Location of the Unit Unit No. 301, 3° Office Level, Bldg No. 05 & 06, Mindspace Business Parks Pvt. Ltd.-SEZ, | Thane Belapur Road, Airoli, Navi Mumbai- ay | 400708 || LOA No.& Date | SEEPZ/NEW-SEZ/SERENE- _ 4. | THANE/42/2014-15/5849 dated 15.05.2014 | Ttem of Manufacture/ Service || IT Enableda. RevenueServices:Accountingile(Reccivable) | b. Medical Transcription c. Insurance Claim Processing d. Data Processing e. Back Office Operations | ‘6.6. |ValidityofLOA| Date of Commencement | 01.04.201531.03.2025 . tt|| ----- End of picture text -----

Is,fi

e The detailed list of the Shareholding Pattern (Pre & Post) are as under:

LIST OF SHAREHOLDING PATTERN (PRE & POST):

|||Sr. |Name&Address<br>No.<br>ofthe<br>|.<br>Shareholder|Sr. |Name&Address<br>No.<br>ofthe<br>|.<br>Shareholder|Sr. |Name&Address<br>No.<br>ofthe<br>|.<br>Shareholder|Sr. |Name&Address<br>No.<br>ofthe<br>|.<br>Shareholder|PAN<br>—|PAN<br>—||Pre Approval-Shareholding<br>Pattern<br>ee|Pre Approval-Shareholding<br>Pattern<br>ee|Pre Approval-Shareholding<br>Pattern<br>ee|Pre Approval-Shareholding<br>Pattern<br>ee|Pre Approval-Shareholding<br>Pattern<br>ee|Pre Approval-Shareholding<br>Pattern<br>ee||Post Approval-<br>Shareholding Pattern<br> ||Post Approval-<br>Shareholding Pattern<br> ||Post Approval-<br>Shareholding Pattern<br> ||Post Approval-<br>Shareholding Pattern<br> ||Post Approval-<br>Shareholding Pattern<br> ||Post Approval-<br>Shareholding Pattern<br> ||Post Approval-<br>Shareholding Pattern<br> ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||<br>|<br>||1|||<br>a | <br>Citron<br>AAHICC5614L<br>Investments<br>Limited, Suite|||||No. of<br> Shares<br>22,72,395||||||Percentage<br>Holding <br>73.26%||=||Noof<br> Shares<br>30,76,445|||Percentage<br>|__—Holding<br>99.19%||||
|||||504, 5th Floor, St|||||||||||||||||||
|||||James Court,|||||||||||||||||||
|||||Port Louis 11328,|||||||||||||||||||
|||___| <br>2|Mauritius<br>a<br>Playa<br>TechnologiesLLP,<br>Plot No.|||<br>{|a<br>AAYFP6107D||||5,96,960|||||19.25%|||-|a|ee|ee|-||
|||||109,GeBBS|||||||||||||||||||
|||||House, 13%|||||||||||||||||||
|||||Street, Central<br>Road, MIDC-<br>Marol, Andheri||||||||||||||<br>|||||||||
|||||(East), Mumbai-|||||||||||||||||||
|||||400093,|||||||||||||||||||
|||||Maharashtra,|||||||||||||||||||
||||Loae||||||||||||||||||||
||||3||Mr.VijaySingh||AADPT2549Q|||———=<br>1,71,600|||||nes<br>5.53%<br>-|||||||-|i|
|||||Thakor, Flat No.|||||||||||||||||||
|||||04, Tahiti Society,|||||||||||||||||||
|||||Juhu, Versova|||||||||||||||||||
|||||Link Road near|||||||||||||||||||
|||||HDFC, Bank Azad||||||||||||||||||||
|||||Nagar, Andheri|||||||||||||||||||
|||||(West), Mumbai-,|||||||||||||||||||
|||||Maharashtra-|||||||||||||||||||
|||4||400053,India|<br>Link Investment<br>| AABTL3833H<br>Trust (through its<br>|<br>trustee Mr. Vikas<br>|||||||<br>34,605<br>||||||1.12%|_—<br>|||-|_|<br>1 <br>||-||-||
|||||Srivastava),|||||||||||||||||||
|||||Second Floor, Q-8|||||||||||||||||||
|||||Hauz Khas|||||||||||||||||||
|||||Enclave, New|||||||||||||||||||
||||_Delhi-110016||a||ee||||||||||||||||
|||5||Mr. Milind<br>Godbole, D 1203,||AEHPG9675A|||25,232|||||ee,<br>0.81%<br>25;232||||||0.81%|||
|||||Lake Lucerene,|||||||||||||||||||
|||||Lake Homes|||||||||||||||||||
|||||Phase 3, Powai,|||||||||||||||||||
|||||Mumbai,|||||||||||||||||||
|||6 |||Maharashtra-<br>400076,India|<br> Mr. Veerasundar | AATPV8999A<br>Veluswamy,Villa||| AATPV8999A||||564|:|||0.02%|||=|:|||:||.|—|

IS7

| ||

==> picture [439 x 443] intentionally omitted <==

----- Start of picture text ----- Serenity,Kannamangala a - | Oo a - Oo near Sobha Amethyst,Field Hoskote White || Road, Bangalore, || Karnataka- | 7 560067, India| a. : — : a =| Mr. ADOPG1707F | 321 0.01% - - Bhupindersingh | Karnamsingh Grewal, 604 Juhi Greens. Plot 15 & | 17, Sector 50- | Old. Seaqoods Navi Mumbai- | | 400706 A <n} = = = oretrise! £ Total im! ee _ | 31,01,677 | 100% | 31,01,677 | 100% There is Change in Shareholding Pattern of the the company. ¢ Details of the Directors of M /s. GeBBS Healthcare Solutions Pvt. Ltd. [ ts—“‘C#N’SN(CNNN..WOCC#SO#EE isting List Sr.No. of Directors a eel | 1. | __ Name ofthe Person | __ Designation _ | Date ofAppointment | 2. __| MILIND RAMANGODBOLE| CEO & Managing Director | _ 01.04.2013 3. | NITIN VIJAYSINGH THAKOR | _ Director see OS SONS | AKSHAT BABBAR _ director 03.12.2018 4.|SANJAY KUKREJA ____ Director 5. | SAJAYJALONA __ Director | 26.07.202203.12.2018 y 6. ELLIOTT, JOSEPH Iirector 7 | 17.04.2023, i - ‘Proposed List of Directors and change in the composition of board Sr.No.| Name of the Person © Designation 1, [MILIND 2.3.00 | AKSHAT BABBARRAMAN GODBOLE : CEO & ManagingDirector Director— || 4. | ELLIOTT, JOSEPH Director 5. | VIJAY MUKUND KUMARRAGHAVAN _ Director _ a _] HARI GOPALAKRISHNAN | Director | ----- End of picture text -----

» There is Change in Shareholding Pattern of the the company.

The unit has submitted following documents/Information:

Copy of all Letters of Approval of their units within M /s. Mindspace Business Parks Pvt. Ltd.-SEZ.
Board Resolution — Addition of New Directors.
Copy of CA certified Board of Directors list (Existing & Proposed) with New Directors, Form DIR-12, Copy of Aadhar & Pan Card.
Board Resolutions copy of change in sharcholding pattern dated 22.11.2024.

S. Copy of CA certified Shareholding Pattern dated 22.11.2024 & 27.1 1.2024.

/58

Undertaking in terms of Instruction No. 109 dated 18. 10.2021.
Board Resolutions copy of change in share holding pattern dated 27.11.2024. 8. Form PAS-03 for allotment of additional equity capital to the existing equity sharcholder of the company.

MOC&I Instruction No. 109 dated 18.10.2021 states that: “ In suppression of Instruction No. 89 dated 17.05.2018 of their Department on the subject cited above and in exercise of provisions of Scction 10(10) of the SEZ Act, 2005, it is hereby conveyed that the guidelines for approval in the cases of reorganization including change of name, change of shareholding pattern, business transfer arrangements, court approved mergers and demergers, change of constitution, change of Directors, etc of SEZ Developers/CoDevelopers as well as SEZ unit shall be as follows.

“ Re-organization including change of name, change of shareholding pattern, business transfer arrangement, court approved mergers and demergers, change of constitution, change of Directors etc. may be undertaken by Unit Approval Committee concerned subject to condition that the Developer/ Co-Developer/ Units shall not opt out or exit out of the Special Economic Zone and continues to operate as a going concern. All liabilities of the Developer/Co-Developer will remain unchanged on such re-organization.”

€) ADC’s Recommendation:-

Mindspace Proposal of M /s. GeBBS Healthcare Solutions Pvt. Ltd. (LOA-42) located at of Business Parks Pvt. Ltd. — SEZ Airoli, Navi Mumbai for change in Composition Board of Directors & Change in the Sharcholding Pattern of the Company in terms of MoC&I Instruction No. 109 dated 18.10.2021 is submitted before the Approval Committee for consideration.

ERKKRERENRERERERERKK KA KK RR IR

228

GOVERNMENT OF INDIA, OFFICE OF THE DEVELOPMENT COMMISSIONER, SEEPZ SPECIAL ECONOMIC ZONE ANDHERI (EAST), MUMBAI

HKRKAEKKKKREKREKRERERERERER

AGENDA NOTE FOR CONSIDERATION OF APPROVAL COMMITTEE

a) Proposal: -

Proposal of M /s. GeBBS Healthcare Solutions Private Limited. (LOA-S8) for Change in Shareholding Pattern of the Company and change in the list of Board of Directors.

b) Specific issue on which decision of Approval Committee is required:-

i. Approval for Change in Shareholding Pattern of the Company.

ii. Approval for Change in the list of Board of Directors of the Company.

c) Relevant provisions of SEZ Act, 2005 & Rules, 2006/ Instruction/ Notification: -

MOC&l Instruction No. 109 of MOC&l dated 18.10.2021.

d) Other Information: -

==> picture [429 x 275] intentionally omitted <==

----- Start of picture text ----- |,en1. | NameESL ofPT the UnitEePeie | M ~ /s. GeBBS= ~ HealthcareeR PairSolutionsere aePrivateTy ae | | Limited. (LOA-58) 2. | Location of the Unit — | Unit No. 301, 1* & 3*4 Floor, Bldg No. 03, Sub [|] | Plot 5, Mindspace Business Parks Pvt. Ltd.- | SEZ, Airoli, Navi Mumbai-400708 3. |LOANo.| &Date | SEEPZ /NEW-SEZ/MINDSPACE- | AIROLI/58/GHSPL/2018-19/23131 Dated | 4. | 24.09.2018 Item of Manufacture/ Service |IT Enabled Services: CO | a. Revenue Accounting (Receivable) b. Medical Transcription c. Insurance Claim Processing d. Data Processing | a — ———, ce. Back_ Office Operations- | eS | 6Sari;5. || | DateValidityaneseeannaeelof Commencementof LOA as || 04.01.201903.01.2029 a | ----- End of picture text -----

229

e The detailed list of the Shareholding Pattern (Pre & Post) are as under:

LIST OF SHAREHOLDING PATTERN (PRE & POST):

==> picture [432 x 462] intentionally omitted <==

----- Start of picture text ----- Sr. | Name & Address PAN Pre Approval-Shareholding Post Approval- No. of the Pattern Shareholding Pattern | Shareholder | _ . ; ; — eo No. of | Percentage No of Percentage a 1 Citronee| AAHCC5614Lat| 22,72,395pees —|Molding|73.26% 30,76,445Shares | Holding99.19% Investments | | Limited, Suite 504, 5 Floor, St James Court, Port Louis 11328, 2 aPlaya AAYFP6107DCe ae5,96,960——e | 19.25% aot | rerpeereemetsint- engi ea- Technologies LLP, | Plot No. 109,GeBBS | House, 13th | Strect, Central | Road, MIDC- Marol, Andheri | (East), Mumbai- 400093,Maharashtra, | | | a3 || Thakor,Mr. VijayFlatSinghNo. | AADPT2549Qee|| 1,71,600ee 5.53% ee- a en- 04, Tahiti Society, | Juhu, Versova | ! Link Road near } HDFC, Bank Azad | Nagar, Andheri (West), Mumbai-, | | | 4 400053,LinkMaharashtra-Investment India| AABTL3833Hsd 34,605—_ | 1.12%a i} - | _- Trust (through its trustee Mr. Vikas Srivastava), | Second Floor, Q-8 Hauz Khas | Enclave, New | Delhi-1 10016 — _ | a ee eee 5 Mr. Milind AEHPG9675A | 25,232 0.81% | 25,232 0.81% Godbole, I 1203, | | Lake Lucerene, | | MumbaiLakePhaseHomes 3 , Powai,| || | — | —— |—— ----- End of picture text -----

240

==> picture [439 x 491] intentionally omitted <==

----- Start of picture text ----- ~~ | Maharashtra-400076, [India|] 'i ie en a | _ | 6 Mr. Vecrasundar | AATPV8999A 564 = = 0.02% | - a - Veluswamy, Villa | No. 55, Adarsh Serenity, | Kannamangala near Sobha Amethyst, White | | Field Hoskote Road, Bangalore, Karnataka- | 7 560067, India ee a S| ee a Mr. ADOPG1707F 321 | 0.01% - - Bhupindersingh Karnamsingh Grewal, 604 Juhi | || Greens. Plot 15 & | 17, Sector 50- | Old. Seaqoods | Navi Mumbai- | 400706 an ———— ee: ee: | eee — |Total 31,01,677 100% _ 31,01,677 | 100% There is Change in Shareholding Pattern of the the company. ¢ Details of the Directors of M /s. GeBBS Healthcare Solutions Pvt. Ltd. Sr. — Existing List of Directors acini i iyssienin: Ls No. Name ofthe Person | —Designation Date ofAppointment 2.__| _| MILINDRAMAN GODBOLE CEO & Managing Director | __ 01.04.2013 : 3 | AKSHATNITIN VIJAYSINGHBABBAR THAKOR ; Director 03.12.2018 4. Director 03.12.2018 | SANJAY KUKREJA 5S. _ . Director 03.12.2018 | SAUAY JALONA Director 6. __ 26.07.2022 | ELLIOTT, JOSEPH Director 7 17.04.2023 :  Proposed List of Directors and change in the composition of board = Sr.No.| ——s Name of the Person | Designation | 2.1. | MILIND RAMAN GODBOLE : | CEO & Managing Director ee |AKSHAT BABBAR — aaa i | ELLIOTT, JOSEPH | Director 4. VIJAY MUKUND KUMAR RAGHAVAN __ Director [s. HARIGOPALAKRISHNAN Director ----- End of picture text -----

» There is Change in Shareholding Pattern of the the company.

The unit has submitted following documents/Information:

Copy of all Letters of Approval of their units within M /s. Mindspace Business Parks Pvt. Ltd.-SEZ.
Board Resolution — Addition of New Directors.

£31

| | |

Copy of CA certified Board of Directors list (Existing & Proposed) with New Directors, Form DIR-12, Copy of Aadhar & Pan Card.
Board Resolutions copy of change in sharcholding pattern dated 22.11.2024.

S. Copy of CA certified Sharcholding Pattern dated 22.11.2024 & 27.11.2024.

Undertaking in terms of Instruction No. 109 dated 18.10.2021.
Board Resolutions copy of change in share holding pattern dated 27.11.2024. 8. Form PAS-03 for allotment of additional equity capital to the existing equity sharcholder of the company.

MOC&I Instruction No. 109 dated 18.10.2021 states that: “ In suppression of Instruction No. 89 dated 17.05.2018 of their Department on the subject cited above and in exercise of provisions of Section 10(10) of the SEZ Act, 2005, it is hereby conveyed that the guidelines for approval in the cases of reorganization including change of name, change of shareholding pattern, business transfer arrangements, court approved mergers and demergers, change of constitution, change of Directors, etc of SEZ Developers/CoDevelopers as well as SEZ unit shall be as follows.

" Re-organization including change of name, change of shareholding pattern, business transfer arrangement, court approved mergers and demergers, change of constitution, change of Directors etc. may be undertaken by Unit Approval Committee concerned subject to condition that the Developer/Co-Developer/ Units shall not opt out or exit out of the Special Economic Zone and continues to operate as a going concern. All liabilities of the Developer/ Co-Developer will remain unchanged on such re-organization.”

€) ADC’s Recommendation:-

Mindspace Proposal of M /s. GeBBS Healthcare Solutions Pvt. Ltd. (LOA-58) located at of Business Parks Pvt. Ltd. - SEZ Airoli, Navi Mumbai for change in Composition Board of Directors & Change in the Shareholding Pattern of the Company in terms of MoC&l Instruction No. 109 dated 18.10.2021 is submitted before the Approval Committee for consideration.

HERRERA KREREREREKNK ERE EEE

301

GOVT. OF INDIA,

OFFICE OF THE ZONAL DEVELOPMENT COMMISSIONER, SEEPZ SPECIAL ECONOMIC ZONE ANDHERI (EAST), MUMBAI- 400096.

EERKERERERKEKKKKKE

AGENDA NOTE FOR CONSIDERATION OF THE APPROVAL COMMITTEE

A. PROPOSAL:

Monitoring performance of the respective units in terms of Rule 53 of SEZ Rules, 2006,

B. Specific issue on which decision of UAC is required:

Monitoring performance of the respective units as specified in FSRs.

C. Relevant provisions of SEZ Act,2005 and Rules 2006/Instruction

/ Notification:

In terms of Rule 54 of SEZ, Rules 2006: Performance of the unit shall be monitored by the Approval Committee as per the guidelines given in Annexure appended to these rules.

D. Other information:

==> picture [415 x 170] intentionally omitted <==

E. Recommendation:

The proposal of the Units are based on the Final Scrutiny Report in terms of Rule 54 of SEZ Rules, 2006 is submitted to the Approval Committee for consideration.

HR EE RRR ERE KEE EERIE ERE EEK EK EE REE KR EKRERKEREEEEE

363

| |

FINAL SCRUTINY REPORT/2025

Name of the Unit: - M /s. SS&C Fintech Services India Private Limited (Formerly known as DST Worldwide Services India Pvt. Ltd.) Address:- Unit No. 301, 3 Floor and Unit No. 501, 5" Floor, Building No. 5 & 6, Mindspace Business Parks Pvt. Ltd. SEZ, TTC Industrial Area, Thane Belapur Road, Airoli (E), Mumbai - 400708

Block period: - 2019-20 to 2023-2024

Financial Year: - 2020-21 to 2023-24

(A):Observationon APR

||(i)<br>Revised APPROVED Projections for|the 1** Block (existing block)-||
|---|---|---|---|
|en<br>See<br>rg_|_2019-20<br>2020-21<br>| 2021-22<br>FOB value||_,_______{Rs,<br>In Lakhs) |<br>2022-23<br>| 2023-24<br>_ Total||
|ofexport<br>6,909.78 | 11,899.30<br>| 13,392.59|14,613.18<br>| 16,195.35 | 63,010.20_<br>|<br>FEOutgo<br>|<br>|<br>|<br>}<br>SsCCC 1,568.39<br>99.50 |<br>106.96<br>413.05<br>|<br>148.99 ed<br>|<br>j<br>NFE<br>|<br>|<br>|<br>5,341.39 | 11,799.80| 13,285.63<br>| 14,200.13<br>| 16,046.36<br>_ 60,673.31 |||||
||(I) Performance as compared to projections for the period FY 2020-21 to FY 2023-|||
||2024.|||
|||(Rs. In Lakhs)||
||i.<br>i<br>Export|F.E.OUTGO|||
||Raw Matcrial<br>Other<br>|<br>(Goods/Services)<br>C@. ienport<br>outflow<br>Year<br>|<br>Actual<br>|<br>|<br>As |” Projected<br>|<br>hese|<br>Projected<br>».<br>|<br>Actual<br>Actual<br>Asper<br>Actual<br>|<br>rojecte<br>(AsperAPR) —<br>|<br>(Asper<br>Poi<br>oe aa<br>| [Asper | NSDL<br>(Asper<br>_<br>th<br>Ml<br>|<br>peta |<br>outtion)<br>| APA) | Date<br>| ARR)<br>1,434.93<br>(for<br>405.61 | 399.60<br>|<br>the last<br>|<br>}<br>1,568.39<br>7<br>‘<br>|<br>_<br>11,899.30<br>quarterof | 0.00|<br>0.00<br>|<br>0,00| (2019-20)» eq<br>—“'<br>|<br>0.00|||
|_<br>13,392.59<br>12,896.81 |<br>0.00<br>0.00<br>|<br>La<br>14,613.18<br>16,863.51 | 0.00<br>0.00 |<br>—<br>16,195.35<br>18,078.20 | 0.00<br>ee | <br>Total<br>56,100.42 |58,379.27|0.00<br>0.00|||0.00 |<br>106.96|<br>0.00]<br>0.00<br>11.55<br>0.00 | |<br>0.00 | 0.00<br>8.86<br> vied<br>148.99<br>|<br>19.95 | 0.00<br>5.35<br>0.00)<br>2,336.89<br>700.97|571.90<br>25.76||

| | |

(II) Cumulative NFE achieved during the block period. (2020-21 to 2023-2024).

(A) Cumulative NFE achieved as per APR

|||||(Rs. in Lakhs)|
|---|---|---|---|---|
|Cumulative<br>|<br>eee<br>Projections<br>are<br>—<br>-<br>| 2020-21 |<br>11,799.80<br>|2021-22|25,085.43<br>|2022-23| 39.**2**85.56<br>2023- 4<br>|55,331.92|||Comueti<br>NFEAchieved<br>As perAPR<br>(Column 9)<br>10,432.09<br>BS,ANDRE<br>40,035.80<br>58,038.55|||‘<br>Cumulative%<br>|<br>NFEAchieved<br>|<br>ee<br>88.41%<br>|<br>92.68% __|<br>101.91%<br>|<br>104.89%|

||«|Capital|Goods Amortized|Goods Amortized|Values table:-|Values table:-|
|---|---|---|---|---|---|---|
||||Year|.|CGImp.<br>4B(v)|Amortized<br>Value||
||2019-20||||405.61|40.56|||
|||2020-21||275.41|27.54||
|||2021-22|||_—0.00|0.00||
||2022-23|||0.00|0.00||
|||2023-24<br>Total|||19.95<br>700.97|2.00<br>70.10|||

(II) Whether the Unit achieved Positive NFE : YES

(B) Other Information:

|LOA No. & Date|||"SEEPZ-SEZ/NEWSEZ/MINDSPACE/02/|
|---|---|---|---|
|ee|||| 2019-20/16968 dated 23.08.2019)|
|Validity ofLOA<br>Item(s) ofmanufacture/|Services||| 08.12.2024<br>aLa”<br>| Information<br>Technology<br>i.e.<br>Software<br>| Development (CPC-842},<br>Information<br>Te**c**hnolo**g**y<br>Enabled<br>Services<br>| namely Data Pro essin<br>(CPC-843), and|
||||| Other Business Services (such as Account and|
|||||cash management, Book-keeping, Clearance<br>|<br>and<br>settlement,<br>Order<br>**m**anagement,<br>Regulatory and compliance, Clai s processing|
||||and<br>examination,<br>Business<br>Process<br>/ Outsourcing<br>and<br>other<br>Back<br>office<br>related|
|a<br>.<br>‘Date<br>of<br>commencement<br>|production<br>:<br>:||_| Support Services) (CPC-862) 00<br>of<br>| 09.12.2019<br>an<br>—||

305

Execution ofBLUT

||ExecutionofBLUT|||
|---|---|---|---|
||Execution ofBLUTBLUT<br>_|_<br>F,<br>No.<br>SEEPZ-SEZ/NEWSEZ/MINDSPACE/||
|||02/2019-20/19610 dated 07.10.2019||
|||| Rs. 1,603.31 Lakhs||
|||-F.<br>No.<br>SEEPZ-SEZ/NEWSEZ/MINDSPACE/||
|||| 02/2019-20/04228 dated 28.02.2020||
|||Rs, 1,838.87 Lakhs||
|||F.<br>No.<br>SEEPZ-SIEZ/NEWSEZ/MINDSPACE/||
|||02/2019-20/12968 dated 25.09.2023||
||oo<br>RS. 1,817.15 Lakhs<br>ee<br>Pending<br>CRA Objection,ifany NAC<br>Pending<br>Show<br>Cause<br>Notice/<br>NA|||
||Eviction<br>Order/Recovery<br>Notice/|||
||Recovery<br>Order issued,<br>if an|||
||| No. ofemployees: As below||i|
|||SS<br>:<br>=<br>=|.<br>=<br>7<br>a|r<br>—<br>1|
||||||
|| Projected| Projected<br>|<br>Year<br>Men|Women<br>}<br>**|**<br>2020-21<br>||<br>_<br>|||<br>2021-22<br>812<br>348<br>|||Men<br>Women<br>Total<br>a<br>epee |<br>190+ 718 | 132+ 490 | 322+1208<br>(19-20 +<br>(19-20 +<br>(19-20 +20-<br>20-21) |<br>2021)<br>|<br>2)<br>904<br>632<br>|<br>1536<br>904<br>|<br>632<br>|||<br>Average %<br>1<br>_<br>.<br>|<br>|<br>27.76%<br>4<br>| 104.14% (19-20<br>|<br>+2021)|<br>132.41%<br>||
||<br>|||<br>|2022-23<br> [2023-24 |<br>||856<br>549<br>|<br>1405<br>866<br>559<br>|<br>1425|121.12%<br>___122.84%|
||Sa<br>Area allotted (in sq. ft.)<br>1,06,628|||—<br> Sa. ft.|
||——<br>5|(Area Sq. Ft./No,|ofEmployees)|
||Area<br>available for each employee<br>2020-21<br>|<br>2021-22<br>|<br>per<br>sq<br>ft<br>basis<br>(area<br>/<br>no.<br>of||_<br>-<br>2022-23<br>2023-24|
||employees)|_<br>69.69<br>69.42<br>||-_<br>75.89<br>74.83|
|ppakeeeaae<br>=<br>Investment<br>till<br>date<br>(Rs.<br>In|<br>Building|||<br>_<br>I,<br>|én<br>|”|a[eee vanes|
||Lakhs)<br>Plant &<br>Machinery<br>"°°<br>|<br>POTAL<br>| 3264.96<br>Per Sq. ft. Export during theFY<br>|<br>2020-21© | 2021-22<br>| <br>(APRexport/per sq. ft*Lakhs)<br>9,885.54<br>| 12,095.14<br>Quantityand value ofgoods<br>NA<br>exported under Rule 34<br>i<br>{unutilized goods)<br>ValueAddition duringthe<br>NA<br>monitoringperiod<br>_<br>L||2022-23 |2023-24<br>15,815.27<br>16,954.46<br>-<br>ieee<br>cauiesecesssi<br>_|

==> picture [1 x 18] intentionally omitted <==

----- Start of picture text ----- | ----- End of picture text -----

‘Whether all the APRs being | YES oe eee considered now has been filed well within the time limit, or. _ otherwise. | If no, details of the Year along with no of days delayed to be. given. a eee Say eee.er ———oe fl

|a||<br>Figures<br>||:||+<br>_______(Rs.inlakhs)|+<br>_______(Rs.inlakhs)|+<br>_______(Rs.inlakhs)|
|---|---|---|---|---|---|---|
|Year/Period<br>reportedin<br>|<br>APR (FOB<br>Value)<br>|<br>_<br>1,434.93 (for<br>the last quarter<br>anne<br>of2019-20) +<br>9,105.82<br>eee<br>ee<br>sininiaiioim| ee<br>2022-23<br>|<br>16,863.51||| <br>|<br>| <br>||Figures as per<br> SOFTEX Data<br> 1067.20<br>(for the<br>last quarter of<br>2019-20) +<br>8555.03<br>wa<br>ipa<br>ee<br>12,623.56<br>16,848.25|| <br>|<br>|<br>||Difference<br>ifany<br>rs <br>aia<br>ome<br>RRS<br>15.26|Reasonfor<br>Difference/Remark<br> rs<br>P<br>Difference is<br>duc to<br>Exchange Rate variation|
|2023-24|18,078.20||17,798.53|||279.67|||

(b) IMPORT (RM).

|||a Year/ Figures as Period perAPR 2020-21| 0.00 2021-22 0.00 2022-23 0.00 2023-24 0.00|— | Figuresas per | Trade Data | (NSDL) | 000 0.00 | 0.00 0.00|oo ____ (Rs. In Lakhs Difference if Reasons fordifference any | ie ies eee | - = | : - i -a =| |---|---|---|---|

| |

307

==> picture [418 x 576] intentionally omitted <==

----- Start of picture text ----- (c) IMPORT (Capital Goods including procurement done on IUT (from SEZ) basis. a : ee | (Rs.In Lakhs  Year/Period oiell- | Figuresper Tradeas | PaBerence if"out Reasons for difference | per APR | any | ss ; 109.12 2020-21 405.6120)+ 275.41a || 399,6020) + 172.30 (2019- | | Unit hasaconsidered- the _ 2021-22 0.00 | oOo | - | cumulative values of import 2022-23 [2023-24] | 19.950.00 | ooo0.00 || 19.95, | capital goods—in the APR. (D) Bond cum Legal Undertaking (BLUT) (Rs. In Lakhs) [ Year | 19-20 | 20-21 | 21-22 2223 | 23-24 “, TotalBond-CumLegalUndertaking ———,:1,603.31| | —| - |et= ee Remaining Value of BLUT | ii | given by entity at the start _ | 1,376.40 | 2,788.15 2,397.44 | 2,068.85 1__of'theValue of FinancialAdditionalYear.Bond-| _ “ial iii cum-Legal Undertaking (BLUT) executed during - | 1,838.87 - 1,817.15 eeOk —— — The duty forgone on | | Goods/ Services imported | iv or procured during the | includeFinancialthe GSTYear foregone(should 226.92 427.11 390.71. || 328.60ae | 47.66 on DTA procured — goods / services) | | mn Remaining Value of BLUT | | | ~ as at the end of the | Financial Year | (ii) + (iii) | 1,376.40 | 2,788.15 | 2,397.44 | 2,068.85 | 3,838.34 a _ 2020-21 | 2021-22 | 2022-23 |2023-24 (G) | Details of pending Forcign Remittance beyond Permissible pcriod, if any To cross-check the same and. a | He we — verify whether necessary permission from AD Bank / RBI |hasbeenobtained. | ——a '(H) | Whether all SOFTEX has been filed | (a) for the said period. If no, details hereer: | Yes Yes Yes Yes | SO | i to also check whether unit has| ee | ----- End of picture text -----

==> picture [402 x 573] intentionally omitted <==

----- Start of picture text ----- | obtained SOFTEX Condonation from ] DC office / RBI and if approved, whether they have filed such (b) _pending SOFTEX. _ jot Whether all SOFTEX has bcen| Yes. Except for the month of certified, if so till which month has February, 2024 which was originally the same been certified. If not, | filed vide SEZ Online Request ID No. provide details of the SOFTEX and | 142400078656 was filed on reasons for pendency. 18.03.2024 and the same was certified also on 02.04.2024. | However, the same was filed | incorrectly due to incorrect reporting | of Invoice Value. Accordingly fresh SOFTEX form was filed vide Request ID 142400230280 as on 23.09.2024. Condonation ee Se egy for the same is under (c) — 15612) _ for Cancellation of SOFTEX? Whether unit has filed any request || SOFTEX2024 processed,for the monthvide Request of February,ID No. | 142400078656 needs to be cancelled. | | The unit is in process to file | application for cancellation of the same. | (I) Whether any Services provided in DTA/SEZ/EOU/STPI ctc. against payment in INR in r/o IT/ITES Unit | during the period. No No No No =(J) detailsIsIf yes,the tounitdetailsbeprovided)sharingthereofany(yeof a r their!wise | aNA ee = __ | are utilizing infrastructure of | ai n frastructuresother unit inwiththe othersame orunitsotheror | SEZ. If so, details thereof, including the details of the unit with whom the sharing is being made, and the payment terms If approval for sharing of common | infrastructure has been obtained | from UAC / DC office, the date of (K) | WhetherUAC / Approvalall DSPFlettcr toforbe indicatedservices | | YES | procured during the said monitoring period under consideration has been | | filed by the unit and whether the | /same has been processed for | — approvalby theSO Office. | os a | ----- End of picture text -----

369

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----- Start of picture text -----

|||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|(L)|| Whether|unit|has|filed|all|DTA’|
|procurement|w.r.t.|the|goods|
|procured|by|them|during|the|Yes|Yes|||Yes|Yes|
|monitoring|period|for|the|relevant|
|period.|||
|ee|||a|
|(M)|||Details|of|the|request|IDs|pending|||
|forprocurementOOC|inon|respectthe|dateof|DTA=|of.||No|||No||||No|No|||
|(N)|submission of|monitoring report|||||-_|
|||Has|the|unit|sect|up|any|cafeteria|/|||
|||premises?canteen|/|food|court|in|unit||||
|If yes,|whether|permission|from|UAC|
|/|DC|office|has|been|issued,|or|||
|otherwise|office|has|been|issucd,|or|||
|otherwisc|
|Whether|unit|has|availed|any|duty|||The|unit|has|only dry|pantry|with|no|||
|free|goods|/|services|for|setting|up_|SENS Oe|
|such§facility?|§|up|||
|}|
|If|yes,|whether|unit|has|discharged|||
|such|duty|/|tax|benefit|availed?|||
|details|to|be|given|including|amount|
|||of duty|/|tax|recovered|or|yet|to|be|
|___||recovered|__|a|J|;|||
|(O)|||Whether|any|violation|of|any|of|the|||||
|||provisions|of|law|has|been|noticed|/|||No|No|No|No|
||observed|by|the|Specified|Officer|||
|_____| duringthe|period|under|monitoring|||_|||
|Findings|
|1.|||This|is|4|years’|performance|scrutiny|(2020-21|to|2023-24)|of the|1*|block|period.|||
||2.|{monitoringof|performance|from|FY 2020-21as|their DCP|is 09.12.2019)|
|[export]|[of]|[Rs.]|[11,899.30/-]|[i.c.]|[88.58%]|[during]|[the]|[period]|[for]|[FY]|[2020-21]|||
||||i.|[projected]|The|unit|has|achieved|export|revenue|of|Rs.|10,540.75/-|Lakhs|as|against|
|projected|export|of Rs.|13,392.59/-|i.c.|96.30%|during|the|period|for|FY|2021-22|
|||ii.|The|unit|has|achicved|export|revenue|of|Rs.|12,896.81/-|Lakhs|as|against ||
|||iii.|The|unit|has|achieved|export|revenue|of|Rs.|16,863.51/-|Lakhs|as|against|
|||projected|export|of|Rs.|14,613.18/-|i.c.|115.40%|during|the|period|for|FY|2022-23|
|iv.|The|unit|has|achieved|export|revenue|of|Rs.|18,078.20/-|Lakhs|as|against|
|projected|export|of Rs.|16,195.35/-|i.e.|111.63%|during|the|period|for|FY|2023-24|

----- End of picture text -----

|Cumulative Net Foreign Exchange Rs.10432.09/- lakh is positive[for][FY][2020-21.]

Cumulative Net Foreign Exchange Rs. 23249.25/- lakh is positive for FY 2021-22. Cumulative Net Forcign Exchange Rs. 40035.80/- lakh is positive for FY 2022-23. | Cumulative Net Foreign Exchange Rs. 58038.55/- lakh is positive for FY 2023-24. —4. | There is ano CRAa Objection pending tossbe looked—— into.——— Pe ae 5.|Thereis no SCN pending. — A | 6.7._|prescribed ||APRs CapitalforGoodsthetime.FYAmortization[2019-20] to has2023-24abeenhaveshownoe beeneeand submittedthereee eehaveandbeenfiled nowithinimportsthe according to the NSDL data for FY 2021-22 to 2023-24 but as per APR there has | 8. been IUT for FY 2023-24. ee eeea |Condonation application for February 2024 (SOFTEX) is under process.

311

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FINAL SCRUTINY REPORT/2025

Name of the Unit: - M/s. Ness Technologies India Private Limited

Address: - Unit No. 201, 2.4 Office Floor, Building No. 5 & 6, Mindspace-SEZ, Thane Belapur Road, Airoli, Navi-Mumbai-400708

Block period: - 2021-22 to 2025-26

Financial Year: - 2021-22 to 2024-25 (part)

Details of Previous Monitoring

|Details of PreviousPrevious Monitoring||
|---|---|
|1.<br>Previous UAC observations:||
|The proposal of performance of the APR for the period 2011-12 to 2020-21||
|(1* and<br>2»¢<br>Block)<br>was<br>placed<br>in<br>the<br>101s!<br>mecting<br>of the Approval||
|Committee<br>held<br>on<br>30.12.2021<br>wherein<br>the|Committee<br>noted<br>the|
|performance of the unit for the years 2011-12 to 2020-21, that the unit has||
|achieved positive NFE on cumulative basis in terms|of Rule 54 ofSEZ Rules,|
|2006.||
|(A): Observation on APR||
|1)APPROVED Projections<br>—____| 2021-22| 2022-23<br>|<br>2023-24 |<br>2024-25<br>FOB<br>value<br>|<br>6300.00<br>6974.00<br>|<br>7375.00<br>7693.00<br>Ci<br>en<br>i<br>=<br>i<br>FE Outgo|<br>283.00<br>|, _291.00<br>|<br>295.00<br>|<br>301.00<br>NFE |<br>6017.00<br>6683.00<br>|<br>7080.00<br>=| =7392.00|(Rs.in Lakhs)<br>|<br>2025-26<br>| Total<br>7878.00<br>36220.00<br>**|**<br>Ee<br>302.00|1472.00<br>|<br>7576.00<br>34748.00_|

(ll) Performance as compared to projections for the period 2021-22 to 2024-25.

==> picture [511 x 184] intentionally omitted <==

----- Start of picture text ----- | (Rs. in Lakhs) | a | sia dai F.E. OUTGO Year || (Goods/Services)Raw Material | SB, impart outflowOther || Projected Actual if | | : | ae | (As Proj ‘Keeiei As per Projecte Actual As per Actual per APR} | *rojec pies: NSDL | a(ca+ (As per NSDL | [A a ee hd baadsi vilaRl| Data Outflow) |_ APR) Data APR). 2022- | ee | 5383.69 | | 983.00] 838.07 | 107.46 | 127.32 | 7375.00 2023-'| | 6974.00 || 7761.14 | 291.00 | 800.26 93.18 | 2024- 6839.74 | | 295.00 | 766.27 132.48 | 25 ieee aa | a: | _ a 00) 8957.50 | ; | sas ay || ORO 64.71 al | 28,342.00 | 25,342.07 | a | | 1170.00 | 3,157.8 | 107.46 | 417.69 ----- End of picture text -----

(II) Cumulative NFE achieved during the block period 2021-22 to 2024-25 (Part).

(A) Cumulative NFE achieved as per APR

|||||||||(Rs. in Lakhs)|
|---|---|---|---|---|---|---|---|---|
|a<br>:<br>weas<br>|<br>ee <br>(2021-22<br>|2022-23<br>|2023-24||<br> <br>|<br>|<br>||‘<br>oo<br>J<br>NFE<br> Sea<br>6,017.00<br>12,700.00<br>19,780.00||Cumulative<br>NFEAchieved<br>As perAPR<br>(Column 9)<br>5,123.02<br>12,662.20<br>_<br>19,245.39||||||a<br>Cumulative%<br>NFEAchieved<br>In<br>85.14%<br>99.70% |<br>97.29%<br>if|
|2024-25<br>(part)|||27,172.00|||24,415.95<br>meniiien||||89.86%<br>ations|

(ii) Capital Goods Amortized Values table:-

||Year|||CGImp,4B(v)||Amortized Value|Amortized Value||||
|---|---|---|---|---|---|---|---|---|---|
||2015-2016||in|62.36 ~|A|6.24|i|||
||7<br>2016-2017|||36.79|||7<br>5.68 :||||
||2017-2018|||141.34||1413||||
|-|2018-2019<br>2019-2020<br>2020-2021<br>; 2021-2022 <br>2022.2023||18.30<br>22.96<br>B13.<br> —<br>548.00<br>187|||<br>|<br>|<br>|<br>||183<br>2300<br>$1.32<br>—<br>38.80 ~<br>79||4||
|2023-2024||||13.26|||1.33||||
||2024-2025 (part)<br>-Total<br>7||<br>|||5.11<br>753,20||—OBT<br>78-38||||

(IV) Whether the Unit achieved Positive NFE : YES

(D) Other Information: LOA No. & Date - 1. SEEPZ SEZ/NEW-SEZ/SERENETHANE/28/2011-12/11858, Dated 27.07.201 1(Original LOA) | 2. SEEPZ SEZ/NEW-SEZ/SERENETHANE/28/2011-12/15424, Dated 01.02.2017 (Renewal) | 3. SEEPZ-SEZ/NEWSEZ/SERENE| a oo THANE/28/10-11/(VOL-11)/01092,

3/5

==> picture [400 x 534] intentionally omitted <==

----- Start of picture text ----- pa | Dated 25.01.2022 (Renewal) |ValidityofLOA _ 26.12.2026 _ ——— Item(s) of manufacture/ Services Information Technology and Information Date of acommencementee of| Technology27.12.2011 Enabled Services| J production ii aladecilaceciiecicecl Executionof BLUT | YES | Pending CRAObjection, if any | NA cba | Pending Show Cause Notice/ NA Eviction Order/Recovery Notice/ Recovery Order issued, if an | No. of employees: As below . ‘ Projected | Projected | Men Women | Total | Average % © Year|Men| Women | = J sas | | 2022-23 164 86 250 | 79.87% 3023-24 213 100 165 83 248 | 79.23% | art) a 145 | 74 219 | 69.97% | | hs meapaesainneencemnArea allotted (in sq. ft.) | 34,950 Sq. Ft. Area cea | (Area Sq. Ft,/No. of Employees) i available for each employee per 2021-22 2042-23 2028-29 ory sq.ft. basis (area / no. of employees) | Saree are ||eo a (part)ao |ae Investment till Building | 269.10 date (Rs. In! pjant & Machinery 2099.51 Lakhs) TOTAL Y 2359.61 ‘Per Sq.* ft. Export during the FY —" a 2022-23 2023-2 | 2024-25— (APR export/per. sq. ft*Lakhs)‘ Rien15403.98 22206.41 || 19570.07702524| 15329.04tart)__| Quantity and value of goods - — exported under Rule 34 etn (unutilizedValue Additiongoods)during the — pancaecenily » N.A, monitoring period ; _ | Whetherconsidered allnow thehas beenAPRs_filedbeingwell YS | within the time limit, or otherwise. | If no, details of the Year along with _no of days delayed to be given. | __ ----- End of picture text -----

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(E) Reconciliation of Export & Import data.

| |

(a) EXPORT

||;||||||___ (Rs. in lakhs)|
|---|---|---|---|---|---|---|---|
||Figures<br>reported<br>Year/Period<br>inAPR<br>(FOB<br>Value)||||waren<br>ae<br>P<br>SOFTEX<br>Date|Difference<br>3<br>ifany|Reason for<br>Difference/Remark|
||rte||/||.<br>a<br>_<br>|||Unit has confirmed the reason|
||[a|||||||SOFTEX data compared to|
|_|2023-24|24|6839.74||6786.95|po<br>a<br>|<br>52.79|account ofdifference in<br>exchange ratesadopted by|
||a|||||||SEZ portal and rate applied by|
||2024-25 <br>Secenaanecomntaeesiaeil||| 5357.50 <br>mesareer|| 4561.35<br>|<br>796.15<br>|||||companyduringrelevant<br> month ofinvoice booking. _|
||(b)|IMPORT (RM)||||||
||_<br>Year/<br>Period|.|Figures as<br>perAPR|F|_(Rs. InLakhs)_<br>Figures asper | Difference if<br>| Reasons fordifference<br>Trade Data<br>| any|||
||||||(NSDL)|||
||2021-22||0.00||0.00|-|-|
||2022-23<br>_ 2023-24<br>2024-25|||0.00<br>;<br>0.00<br>_—0.00|| <br>|<br>||000|a —<br>0.00<br>|<br>=<br>;<br>ee<br>0.00<br>|<br>-—<br>po|||

==> picture [396 x 115] intentionally omitted <==

----- Start of picture text ----- sR In Lakhs) Figures Figuresas | _. ‘ Year/Period as per per Trade ow Reasons for difference | APR Data y 2021-22 — 838.07 107.46 | 73061 | _2023-24 | | 2094-35 766.27 0.00 | 766.27 |v Capital goods as (part) | veq90 0.00 Se | enn753.20 | mentioned year. ----- End of picture text -----

(F) Bond cum Legal Undertaking (BLUT)

(Rs. In Lakhs)

==> picture [386 x 58] intentionally omitted <==

----- Start of picture text ----- Year | 2021-22 | 2022-23 | 2023-24 [2024-25 | iod| Total Bond-Cum Legal | | 7 _ | - tpt)- | =ii | Remaining Undertaking Value of Fie| 346.52 | 838.44 | 748.04 a| 608.68 | ----- End of picture text -----

art

==> picture [406 x 580] intentionally omitted <==

----- Start of picture text ----- BLUT given by entity at the start of the Financial Year. __ - ; | mie Z ee See iii) ValueBond-cum-Legalof Additional| Undertaking (BLUT) | 838.44 : : - executed during the | Financial Year. | —— ee iv |The duty forgone on / } | Goods/imported or procuredServices | durin the Financial| | easGST (shouldforegoneincludeon DTAthe||| 290.64 146.28 | 139.36 151.33 | procured | {goods/services) lee oo | v | BLUTRemainingas at theValueend ofof| | the Financial Year | (ii) + | 894.32 748.04 608.68 | 457.35 | 2024-25 Remittance beyond Permissible (G) | period,Details if anyof pending Forcign | |To cross-check the same and NO NO | NO | NO | | verify whether necessary | permission from AD Bank / RBI (H) |Whetherhasbeen obtained.all SOFTEX has =been |. : | es: |a (a) | filed for the said period. If no, details thereof. | SO to also check whether unit has YES | = bd The | obtained SOFTEX Condonation from DC office / RBI and if _ | | approved,suchpendingwhether SOFTEX.they have filed | | (b) _ ee ee a a all SOFTEX has bcen | | certified, [the] [same] if so [been] till whichcertified. monthIf hasnot, | All SOFTEXs have been certified except for || provide details of the SOFTEX and the month of Dec ‘24 (c) |Whetherreasons forunitpendency.has filed_any request NO — NO —NO aNO | (I) |Whetherfor Cancellationany Servicesof SOFTEXprovided in |, ——e | DTA/SEZ/EOU/STPI cic. against | payment in INR in r/o IT/ITES| NO | NO NO NO | Unit during the pcriod. | dIf y e s, ttodetbe a ils provided)ilsthereof (year |wisc | a : ----- End of picture text -----

==> picture [474 x 564] intentionally omitted <==

----- Start of picture text ----- (J) | Is the unit sharing any of their |NO infrastructures with other units or are utilizing infrastructure of another unit in the same or other SEZ. detailsIf so, detailsof thethereof,unit withincludingwhom thethe sharing is being made, and the payment terms if approval for sharing of common infrastructure has been obtained from UAC / DC office, the date of UAC / Approval letter to be indicated (K) |Whether all DSPF for services | YES, All the DSPF filed and endorsed. procured during the said monitoring period under consideration has been filed by the unit and whether the same has been processed for approval (L) |Whetherby [the] SO unitOffice.has filed all DTAnn wef procurement w.r.t. the goods procured by them during the YES YES YES YES monitoring period for the relevant period. Ifno, details thercof | eee See (M | Details of the request IDs pending | uJ ) for OOC in respect of DTA NO NO NO NO procurement on the date of | submission of monitoring report _ — (N) | Has the unit set up any cafeteria / | canteen / food court in unit | premiscs. If yes, whether permission from| UAC / DC office has been issued, or otherwise office has been issued, or otherwise Whether unit has availed any duty Not Any | free goods / services for setting up such facility? If yes, whether unit has discharged such duty / tax benefit availed? details to be given including amount of duty / tax recoveredor yet to berecovered a a (O) |Whether any violation of any of the provisions of law has bcen noticed / observed by the slat NO uO WR Specified Officer during the period _| under monitoring ; a See: eee oan ----- End of picture text -----

319

| |

Findings

|1|This is 4 years’ performance scrutiny (2021-22 to 2024-25(part)) of the existing block<br>period,||
|---|---|---|
|2.|peecauimmemngeed<br>|i. The unit has achieved export revenue of Rs. 5383.69/- Lakhs as against<br>projected export ofRs. 6300,00/- i.e. 85.45% during the period for FY 2021-22||
||ii. The unit has achieved export revenue of Rs. 7761.14/- Lakhs as against<br>projected export of Rs. 6974.00/- i.c.<br>111.29% during the period for FY 2022-23||
|||||
||iii. The unit has achieved export revenue of Rs. 6839.74/- Lakhs as against<br>projected export ofRs. 7375.00/- i.c. 92.74% during the period for FY 2023-24||<br>||
||iv. The unit has achieved export revenue of Rs. 5357.50/- Lakhs as against<br>projected export of Rs. 7693.00/- i.e. 69.64% during the period for FY 2024-25<br>(part)||
|a“Cumulative Net Forcign Exchange Rs. 5,123.02/-lakh is positiveforFY 2021-22.|||
||Cumulative Net Foreign Exchange Rs, 12,662.20/-<br>lakh is positive for FY 2022-23.<br>|||
|||||
|,<br>4.|CumulativeNetForeignExchange Rs. 19,245.39/- lakh ispositiveforFY 2023-24.<br>|<br>Cumulative Net Forcign Exchange Rs. 24,415.95/- lakh is positive for FY 2024-25<br>part)<br>meses<br>=<br>:<br>aep<br>es!<br>|There is a noCRA Objection pending to be looked into.||
|-<br>|5.|x<br>o<br>.<br>—<br>="<br> |There is no SCN pending.||
|“4.|APRs for the FY 2019-20 to 2023-24 have been submitted and filed within the<br>|prescribedtime,<br>a<br>ee<br>a<br>5.<br>Capital Goods Amortization has been shown and there have been no imports according<br>to the NSDL data for FY 2022-23 to 2024-25(part) but there is some data for FY 2021-<br>{22<br>andno IUT has been done duringthese years asperAPR.<br>-<br>a<br>6. |SOFTEX for the month ofDec ’24 has notbeen certified yet.|||
|7.|TheUnithadsubmittedanapplication<br>forEXIT,videletterdated|||

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FINAL SCRUTINY REPORT /2025

Name of the Unit: - M /s. Course5 Intelligence Ltd. (LOA-49)

Address: - Unit No. 02, 8 Floor, Building No. 03, Mindspace Business Parks Pvt. Ltd.SEZ, Thane Belapur Road, Airoli, Navi Mumbai-400708

Block period: - 2015-16 to 2019-20 (1* Block) & 2020-21 to 2024-25 (24 Block)

Financial Year: - 2019-20 (last year of 1** Block) & 2020-21 to 2023-24 (4 years of the 2™4 Block)

Details of Previous Monitoring:-

Previous UAC observation The monitoring performance of the unit for the years 2015-16 to 2018-19 had been monitored in the Approval Committee mecting held on 28.09.2020. Accordingly, it was concluded that the unit had achieved positive NFE of Rs. 5058.25 Lakhs (with amortization) on cumulative basis for the period of 4 years i.c. 2015-16 to 2018-19,

(A): Observationon APR:

|(i)<br>APPROVED Projections for|the 1st Block-|the 1st Block-|the 1st Block-||||
|---|---|---|---|---|---|---|
|_____|2015-16<br>| 2016-17 |2017-18|2017-18|||2018-19|||2019-20||Total_|
|value of|||||||
|_export _<br>721.00<br>_ 829.00<br>|<br>FE Outgo|953.00|||1096.00||<br>||1261.00|4860.00 _|
|| NFE<br>|<br>|<br>|<br>564.20 | 648.70<br>||745.70|||857.60||||<br>986.80 | 3803.00 |||
|(ii)<br>APPROVED Projections for|the 2>4 Block-||||||
|«|2020-21<br>| 2021-22<br>| <br>|FOB<br>|<br>' value of<br>||2022-23|||2023-24|||2024-25|| Total|<br>|<br>||
|lexport =| 1364.00<br>|<br>1685.00<br>|<br>FEOutgo<br>|<br>|<br>a<br>25.00<br>|<br>25.00<br>|<br>_NFE<br>|<br>—<br>1339.00<br>|<br>1660.00<br>||1770.00<br>25.00,<br>1745.00||<br>|<br>||1858.00<br>25.00<br>1833.00||<br>|<br>||1951.00<br>25.00<br>1926.00|| 8628.00<br>|<br>| 125.00<br>|<br>2503.00_||

(II) Performance as compared to projections for the period 2019-20 to 2023-24.

(Rs. In Lakhs)

|||anya<br>|<br>f<br>|<br>|<br>|<br>Actual<br>7<br>Year<br>Projecte<br>spe<br>(As per<br>a<br>|<br>APR)|anya<br>|<br>f<br>|<br>|<br>|<br>Actual<br>7<br>Year<br>Projecte<br>spe<br>(As per<br>a<br>|<br>APR)|RawMaterial<br>(Goods/Services)<br>|<br>]<br>|<br>Actual<br>Projecte<br>d<br>(Asper<br>| <br>APR)|As per<br> NSDL<br>Data|| <br>|<br>|<br>||F.E,OUTGO<br>/<br>aa tel<br>C:G. import<br> Projected(_ a a<br>cG<br>Actual<br>Import +<br>(Asper<br>Other<br>APR)|Other<br>outflow<br>As per<br>Actual<br>NSDL<br>(Asper<br>Data<br>APR)|
|---|---|---|---|---|---|---|---|
||2019-20 | 1261.00]<br>2020.21 | 1964.00}|1613.05|<br>j265.14||0.00<br>0.00<br>|<br>0.00<br>0.00|0.00<br>0.00||274,20<br>5.32<br>25.00<br>0.00|5.43|0.00|<br>0.00|<br>0.00||
||2021-22 | 1,685.00)<br>2022-23 | 1,770.00]<br>2023-24| 1,858.00<br>Total7,938.00|218.86<br>|<br>2145.24<br>|<br>1939.04<br>|8,181.34|0.00<br>0.00<br>|<br>0,00<br>|<br>0.00<br>|<br>0.00<br>0.00|<br>0.00<br>0.00||0.00<br>0.00<br>0.00<br>0.00}||25.00<br>64.91<br>25.00<br>64.91<br>25.00<br>64.91<br>474.20|<br>200.05|28.84<br>0.00<br>0.00<br>6.49<br>0.00<br>0.00<br>34.27)6.49||

(III) Cumulative NFE achieved during the block period 2019-20 to 2023-24.

(A) Cumulative NFE achieved as per APR

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----- Start of picture text ----- (Rs. in Lakhs) | i. | Cumulative | || —— aeeetneulati | NFE Achieved | Cumulative. % J As perAPR | NFE Achieved NFE ee (Column9) {| 2019-20 [3,803.00 | 6,679.29 | ——*:175.63% | 2020-21 | 1,339.00 | 1,261.53 94.21% a 2021-22 | 2,999.00 | 2,475.34 ___ 82.54% 2022-23 | 4,744.00 BOARS [St] 1 ORTOS | |. SIROR4,614.09 | ___ 97.26% 1 ----- End of picture text -----

(ii) Capital Goods Amortized Values table:-

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----- Start of picture text ----- | | CG Imp. Amortized | Four 4B(v) || Value || | 2015-2016 59.01 | 5.90 __2016-2017,| 2.17 | 0.22 2017-2018 | 4.95 0.50 | 2018-2019 | 1.30 0.13 2019-2020 5.32 | 0.53 2020-2021 | 72.75 7.28 | 2021-2022 64.91 | 6.49 2022-2023 0.00 | 0.00 | 2023-2024 0.00 =" 0.00 Total 64.91 6.49 : ----- End of picture text -----

324

(IV) Whether the Unit achieved Positive NFE : Yes

|(D)<br>Other Information:|||
|---|---|---|
|LOANo.& Date<br>||SEEPZ/NEW-SEZ/SERENE-<br>SS”|<br>THANE/49/2014-15/ 13423 dated|||
||12.11.2014 (Original LOA)||
||| SEEPZ/NEW-SEZ/SERENE-||
||| THANE/49/2014-15/VOL-I/ 16443 dated||
|J.<br>—<br>7<br>|24.12.2020 (Renewed LOA)<br>|<br>mi<br>ValidityofLOA<br>| 14.12.2024<br>_<br>:<br>Item(s) ofmanufacture/ Services<br>Information Technology Enabled Services,|||
|De eg<br>Date<br>of<br>commencement|Market Research, Analytics<br>of|31.07.2015||
|production<br>a<br>—<br>——,<br>ExecutionofBLUT ><br>YES<br>eae<br>Pending<br>CRA Objection, ifany<br>|<br>inact<br>Pending<br>Show<br>Cause<br>Notice/ |NO<br>|<br>Eviction<br>Order/Recovery<br>Notice/|||
|Recovery<br>Order issued, ifan||||
|| No. ofemployees: Asbelow||||
|Projecte<br>— Projected<br>Men<br>Women<br>Total<br>Average %<br>|<br>__Year_|<br>dMen<br>|<br>Women<br>|<br>|<br>ee<br>ol<br>}<br>2019-20 |64<br>|<br>a7 | at<br>|<br>99<br>|<br>310<br>_ 340.66% |<br>2020-21<br>8<br>35<br>113<br>|<br>78,33<br>|<br>|<br>2021-22<br>|<br>:<br>z<br>2<br>;<br>_2021-22<br>100<br>60<br>83 |388<br>121<br>:<br>80.67<br>2022-23<br>—<br>101<br>388<br>|<br>139<br>92.67<br>|||2023-24<br>|<br>101<br>| 38<br>139<br>92.67|||<br>|||
|| Area allotted (in sq. ft.)<br>11,308 Sq ft<br>cS<br>-<br>st ee<br>7<br>7<br>a<br>-<br>occaeaealiiled<br>|_<br>ee<br>|<br>(Arca Sq. Ft./No. ofEmployees)<br>Area<br>available<br>for each|<br>2019-20<br>| 2020-21<br>| 2021-22 |2022-23<br>| 2023-24<br>employee per sq. ft. basis (area ——<br>:<br>—<br>ap<br>—<br>/no.ofemployees)<br>]<br>36.48<br>100.07<br>|<br>93.45<br>81.35<br>81.35<br>‘Investment till)<br>;<br>|<br>ee<br>date<br>(Rs.<br>In__Building<br>|<br>|<br>Lakhs)<br>Plant<br>&<br>|<br>||||
|TOTAL<br>|<br>Per Sq.ft.Export|during theFY ||64.91<br>|<br> 2019-20[2020-21<br>| 2021-22<br>| 2022-23 | 2023-24||
|(APRexport/per sq. ft*Lakhs)<br>||14,264.77 | 11,188.01<br>| 10,778.74<br>| 18,971.00 | 17,147.51||
|Quantity and value ofgoods<br>exported under Rule 34|tA||
|(unutilizedgoods)|||

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----- Start of picture text ----- | Value: Addition during the COeae monitoring [period] NA | consideredwae allnowthehasAPRsbeen beingfiled YES well within the time limit, or) otherwise. If no, details of the Year along with no of days delayed to be given, — cca _ ----- End of picture text -----

(E) Reconciliation of Export & Import data. (a) EXPORT

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----- Start of picture text ----- Le (Rs. in lakhs) Figures Figures as Year/Period reported in | per Difference Reason for APR (FOB | SOFTEX if any Difference /Remark Value) Data | — $— — _ — a aa $$$ 4 2019-20 | 1,613.06 1,632.36 19.3 ————— = — —+ - | 2020-2 1,265.14 1,314.24a 49, : | 2021-22a | _ 1,218.86] 1,821.15 | ns mid. | TheSeereason for the difference ea, ee cus eee exchange gains/losses and onshore sales. 2022 - 23 2,145.24 2,178.89 33.65 2023 - 24 1,939.04 | 1,993.61 | 54.57 ----- End of picture text -----

(b) IMPORT (RM):

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----- Start of picture text ----- mrammnecerneersaprmasencenenren tera (RS. Year/ | Figures as Figures as per | Difference if ReasonsIn Lakhs)for difference Period | per APR Trade Data | any (NSDL) 2019-20 | 0.00 0.00 : 2020-21 | 0.00 | 0.00 | . —— "nl ee2021-22 0.00— { --+ 0.00----——----—— [+] | ——_ ——- |‘ | . | (2022-23 | 0.00 0.00 es (c) IMPORT (Capital Goods including procurement done on IUT (from SEZ) basis. ----- End of picture text -----

(Rs. In Lakhs)

329

| |

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----- Start of picture text ----- Figuresgu as | = p fp oe | Figures | Year/Period Annexure as per Difference | Reasons for difference (Amortized Trade if any Data 2019-20 7.28 5-43} 1.85 | ~The amount shown in 2020 - 21 0.00 0.00 ; NSDL is higher than the | gt aia l Ca amortization due to the fact | 2021 - 22 6.49 28.84 22.35 that the amount shown in | 2022-23ie| —«6.49 +0.00] 6.49 NSDLandissomenot 100%of the DTAimport, | 2023 —- 24 6.49 0.00 6.49 | purchases are included. aes Se ee aa ee, Nees FRED EEes beara wre = (F) Bond cum Legal Undertaking (BLUT) (Rs. In Lakhs) ss Year-=——s—=«dS:«2019-20—| 2020-21 | 2021-22 | 2022-23 |2023-24 flI | Total ——Bond-Cum|| leswil | a" Pca ——— Beereence ii | Remaining Value of | | | | BLUT given by | (entity at the start) 114 8,969.41 | 8,969.32 | 8,534.98 | 7,939.33 of the Financial | | iii |Value of Additional | Bond-cum-LegalUndertaking | (BLUT) executed a 7 . 7 7 during the | Financial Year. iv — | | : a |The duty forgone | on Goods/ Services | imported or procured during the Financial Year 5.59 0.09 434.34 595.65 | 186.06 (should include the GSTDTA foregone on | | procured | v goods/scervices) | a —— | Remaining Value of of the Financial ae ee eee Bt | go6g.41 | 8,969;52 | 8,534.98 | 7,939.33 | 7,753.27 Year [(ii) + (ii)- (ivy). | a | ren | [2022-] | 2023-| ee ee _ [20] — i | 2019- | 2020- | 2021- (G) Details| Remittance of beyondpending PermissibleForeign || 21 22 __ 23 | 24 | period, if any NA NA NA NA NA | To cross-check the same and | | verify whether necessary | |__| permission from AD Bank / RBI |_ po | ----- End of picture text -----

L has beenobtained. is es ee nee —_——— (H) || (a)filedWhetherfor the saidall period.SOFTEXIf no,hasdetailsbecn|| | | thercof. | | SO to also check whether unit has| YES YES | YES YES YES | obtained SOFTEX Condonation from | DC office / RBI and if approved, | whetherpending SOFTEX.they have filed such | (b) Whether all SOFTEX has been certified, if so till which month has There are some SOFTEXs from the current the same been certified. If not,| period that have been submitted on time but provide details of the SOFTEX and are yet to be certified. ____|l(c)reasonsWhetherfor pendency?unit has filed any|————————NO NO | NO NO NO | request for Cancellation of SOFTEX? a — a | (I) Whether any Services provided in I | DTA/SEZ/EOU/STPIpayment in INR in r/o IT/ITEScic. againstUnit NO NO | NO NO NO || during the period. | | If yes, details thereof (year wise | | (J) detailsIs the tounit be provided)sharing any of their, | NO ee infrastructures with other units or are utilizing infrastructure of | another unit in the same or other SEZ, If so, details thercof, including the | details of the unit with whom the | sharing is being made, and the | payment terms If approval for sharing of common } infrastructure has been obtained | fromUAC /UACApproval/ DCletteroffice,to betheindicateddate of | (K) | Whether all DSPF for services| The unit has completed most of the DSPF for | procured during the said monitoring monitoring, and there are some cases that | | periodfiled byunderthe considerationunit and whetherhas beenthe they are claimingpossible.to close as quickly as | /same has been processed for | — | sbprovel by the SO Office. oe | es (L) |§Whether unit has filed all DTA} | | procurement w.r.t. the goods | | monitoringSeeger byperiodthemfor theduringrelevantthe} YES YES | YES YES YES | __| If no, details thercof ——— 2 a Se ae me | period. | | (M) for OOC in respect of DTA NO NO | NO NO NO | procurement on the date of | ____| | Detailssubmissionof theofmonitoring request IDsreport ag:a ——————————— (N) | Has the unit sct up any cafeteria / | __|eanteen / food court in unit| ee NEN ew

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33]

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----- Start of picture text ----- |premises? sis 7: — 7 _ | | If yes, whether permission from UAC | The unit has not set up any canteen but they | / DC office has been issued, or have | [otherwise] [office] [has] [been] [issued,] [or] a Food court in their premises. | otherwise | | Whether unit has availed any duty | free goods / services for setting up | such facility? | | | If yes, whether unit has discharged such duty / tax benefit availed? | details to be given including amount | ofrecoveredduty / tax recoveredeeor yet to be | | Whether any violation of any of the ; a will provisions of law has been noticed / NO NO NO NO NO | observed by the Specified Officer during the period under monitoring _ | a __| ----- End of picture text -----

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----- Start of picture text ----- /(O) ----- End of picture text -----

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----- Start of picture text ----- Findings | ke | This is 5 years’ performance scrutiny (2019-20) of the 1s Block & (2020-21 to 2023-24) of the 2"¢ block period. (Block period calculated from FY 2015-16 as thcir 2. |i. The unit has achieved export revenue of Rs. 1,613.06/- Lakhs as against projected export of Rs. 1,261.00/- i.c. 127.92% during the period for FY 2019-20 ii. The unit has achieved export revenue of Rs. 1,265.14/- Lakhs as against projected export of Rs. 1,364.00/- i.c. 92.75% during the period for FY 2020-21 iii. The unit has achieved export revenue of Rs. 1,218.86/- Lakhs as against projected export of Rs. 1,685.00/- i.c. 72.34% during the period for FY 2021-22 iv. The unit has achieved export revenue of Rs. 2,145.24/- Lakhs as against projected export of Rs. 1,770.00/- i.c. 121.20% during the period for FY 2022-23 __| projectedv. The unitexporthas achievedof Rs. 1,858.00/-export revenuei.c.104.36%of Rs. 1,939.04/-during the [period] Lakhs as against 3. for FY 2023-24 | Cumulative Net Foreign Exchange Rs. 6,679.29/- lakh is positive for FY 2019-20. Cumulative Net Foreign Exchange Rs. 1,261.53/- lakh is positive for FY 2020-21. Cumulative Net Foreign Exchange Rs. 2,475.34/- lakh is positive for FY 2021-22. Cumulative Net Forcign Exchange Rs. 4,614.09/- lakh is positive for FY 2022-23. Cumulative Net Foreign Exchange Rs. 6,546.64/- lakh is positive for FY 2023-24. 4.| Thereis ano CRA Objection pending to be looked into. SO —_ ----- End of picture text -----

| There is no SCN pending. — .

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----- Start of picture text ----- —_ ----- End of picture text -----

| APRs for the FY 2019-20 to 2023-24 have been submittean d filed within the prescribed time.
- a
| Capital Goods Amortization has been shown and there have been imports ___| according to the NSDL data for FY 2019-20 & 2021-22, 00
| Some of the SOFTEXs that were submitted on time are yet to be certified.

‘9,| Most ofthe DSPFs were filed by the unit, still some are pending.

3333

| | |

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435

FINAL SCRUTINY REPORT /2025

Name of the Unit: - M /s. Sutherland Global Services Private Limited

Address: - Unit No. 701, 6' Office Level, Unit No. 402, St» Office Level, Building No. 09, Mindspace Business Parks Pvt. Ltd.-SEZ, Thane Belapur Road, Airoli, Navi Mumbai400708

Block period: - FY 2019-20 (last ycar of the previous block) & FY 2020-21 to 2024-25 (2"¢ Block Period)

Financial Year: - FY 2019-20 to 2023-24

Details of Previous Monitoring:-

Previous UAC observation The monitoring performance of the unit for the years 2014-15 to 2018-19 had been monitored in the Approval Committee meeting held on 17.03.2020. Accordingly, it was concluded that the unit had achieved positive NFE of Rs. 12,615.36 Lakhs (with amortization) on cumulative basis for the period of 5 years i.c. 2014-15 to 2018-19.

{A): Observation on APR:

|(i)<br>APPROVED Projections for the 1st Block-||||
|---|---|---|---|
|_____| 2015-16| 2016-17 | 2017-18<br>| 2018-19 <br>| FOB||2019-20|2019-20| Total||
|value of<br>|<br>|<br>export| 4,566.26<br>| 5,022.88| 6,849.25 | 7,534.17 <br>FEOutgo<br>|<br>|<br>_<br>|<br>601.61<br>|<br>300.80<br>112.80<br>|<br>56.40<br>NFE<br>|<br>,|<br>8,904.65<br>|<br>4,722.08<br>6,736.45<br>7,A77.77|| <br>||8,287.59 | 32,260.15 <br>56.40<br>| 1,128.01<br> 8.231.19<br>|<br>31,132.14||<br>||
|(ii)<br>APPROVED Projections for the 2™4 Block-||||
|_____|2020-21<br>| 2021-22 | 2022-23<br>| 2023-24<br>FOB<br>|<br>| value of<br>|<br>_export<br>| 6,265.02 6,390.32<br>6,390.32<br>| 20,594.50<br>FEOutgo<br>|<br>|<br>{<br>60.00<br>|<br>300.00<br>300.00<br>|<br>3,284.04<br>| NFE<br>|<br>—<br>__6,205.02|6,090.32<br>6,090.32<br>|<br>17,310.46|| <br>|<br>| <br>|<br>||2024-25|Total|<br>|<br> 21,101.96<br>|<br>60,742.12<br>|<br>3,316.88<br>7,260.92<br>|<br>17,785.08<br>53,481.20<br>|||

(II) Performance as compared to projections for the period 2019-20 to 2023-24.

(Rs. In Lakhs)

==> picture [429 x 149] intentionally omitted <==

----- Start of picture text ----- | oapent‘7 | Raw Material =| 2 =F.E, [=©=©=06] OUTGO7 ster (Goods/ Services) CG. Seaport outflow | | | Actual | a ~ 1 EEE | (ASTRO n=aeEE Year P—da | APR)A — | (AsActual per | AsNspLper |© °CProjected(pa (AsActual per AsNSDLper (AsActual per 2019-20) | APR) Data | outflow) APR) Data APR) 8287.59 g3iq00. ‘i | ~ 56.40; 0.00 | 302.38 | Beceeielll| 2020-212021-22 SaaS| 265.029390.32ee | 1,690.6912.611.61Bes ! : - = | 300.00——60.00 — 23.600.00 2,758.04 cso isc AORN WR: ML, =| |ee Bh a UoA 2022-23| §.390.32| 16,543.30 300.00 24.40 | 3,213.25 2023-24 | 20,594.50 | 1) 081,72 | : 3,284.04 1,38 | Total |47,927.75 59,241.32 0.00/ _—0.00 0.00| 4,000.44 | _ 49.38 | 10,014.52 ----- End of picture text -----

(III) Cumulative NFE achieved during the block period 2019-20 to 2023-24.

(A) Cumulative NFE achieved as per APR

==> picture [313 x 115] intentionally omitted <==

----- Start of picture text ----- (Rs. in Lakhs) | | Cumulative Cumulative 7 “| | Year Projections NFE Achieved Cumulative % 7 As per APR NFE Achieved NFE | 7 a. = | (Column 9) | eevee |2019-20 | 31,312.14 | 20,775.68 | 66.35% | | 2021-22 12,295.34 (2022-23 Ss | 19,688.03 |—*160.13% 2023-24 | 35,696.12|_—18,385.66 | 3241 , 979082 . 8133 || _ 1 15.09%79.38%| ----- End of picture text -----

(ii) Capital Goods Amortized Values table:-

==> picture [205 x 188] intentionally omitted <==

----- Start of picture text ----- — | } ¥ear CG Imp. Amortized 4B(v) | Value | 2015-2016 55.23 25.52 | 2016-2017, 268 0.27 | | 2017-2018 270.82 27.08 | 2019-2020 0.00 0.00 2020-2021 -237.52 -23.75 |__@0a1-20a2 0.34 | 0.03 | 2022-2023 130.69 PROF __. 2023-2024 © | 99.92 9,99 — Total 7 ; 335.89 | 33.59 ----- End of picture text -----

234

(IV) Whether the Unit achieved Positive NFE : Yes

==> picture [123 x 10] intentionally omitted <==

----- Start of picture text ----- (D) Other Information: ----- End of picture text -----

==> picture [403 x 523] intentionally omitted <==

----- Start of picture text -----

|||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|LOA|No.|&|Date|SO|SEEPZ/NEW-SEZ/SERENE-|
|THANE/46/2014-15/10942|dated|
|04.09.2014|(Original|LOA)|
|SEEPZ/NEW-SEZ/SERENE-|
|THANE/46/2014-15/07420|dated|
|ValidityItem(s)|ofof manufacture/anLOA|SeeeeServices|||30.06.202028.02.2025Business|(RenewedProcessingLOA)OutsourcingsninnNEnny||&|
|Information|Technology|Enabled|Services,|
|Back|Office|Operation|Including|
|a|es|
|Date|Information|Technology|Enabled|Services.|
|of|commencement|of | 01.03.2015|
|Executionroduction,|eee|
|Pending|of|BLUT _|YES|rgunsenttaunecemcese|
|Pending|CRAShowObjection,CauseifanyNotice/=||| NONO|;|seems|
|||Eviction|Order/Recovery|Notice/|
|||Recovery|Order|issued,|if an|
|||No.|of employees:|As below|
|I|"||Projected|||Projected|=|Men|Women|||Total|Average|%|
||||_¥ear__||Men|||Women|||i|||-|
||||2019-20|||448|||193|454|_198|652|101.72%|
|||2020-21|
|||[2021-22]|:||||947.|«||||438)CO-_|8375200:|371220||:|1,208740|||—|Se87.22%53.43%|
|lee2022-23|||678bt0|323373|T1183||1,001|||85.42%72.27%|
|||
|AreaAreaasallotted|(in|sq.|ft.)||||{Area Sq.66,074 Ft./No.|Sqof|Employees)ft|
|available|for|each|||2019-20|2020-21|||2021-22|||2022-23|||2023-24|
|employee|per|sq.|ft.|basis|(area|||}|||—|
|/|no,|of employees)|101,34|89.29|||54.70|66.01|55.85|
|Investment|till|
|date|(Rs.|In||Building|_|a|:|_|
|Lakhs)|Plant|i|
|_Machinery|&|1,685.56|
|||TOTAL|||ai1,685.56||||
|Per|Sq.|ft.Export|during the FY|||2019-20|||2020-21|||2021-22|||2022-23|||2023-24|
|(APR export/per|sq. ft*Lakhs)|12,582.86|||16,179.87|||19,087.10 Co|||16,771.68|

----- End of picture text -----

||Quantity and value ofgoods<br>exported under Rule 34|Quantity and value ofgoods<br>exported under Rule 34|Quantity and value ofgoods<br>exported under Rule 34|NA||||||
|---|---|---|---|---|---|---|---|---|---|
||(unutilized goods)|||||||||
||Value Addition during the<br>monitoringperiod||| <br>||NA|||||:|
||Whether<br>all<br>the<br>APRs||being|YES||||||
||considered<br>now<br>has<br>been||filed|||||||
|||well<br>within<br>the<br>time|limit,<br>or||||||||
|| otherwise.||||||||||
||If no, details of the Year||along ||||||||
||with no of days delayed||to be|||||||
||given.|||||||||
|||||||:||—<br>—||
||(E) Reconciliation ofExport & Import||||data.|||||
||(a) EXPORT|||||||||
||el||||||||___(Rs.<br>in Lakhs)|
|—<br>eactes<br>Year/Period<br>inAPR<br>|<br>(FOB<br>|<br>Value)<br>-a<br>|<br>2019 -20<br>| 8,314.00<br>eae aes<br>E-<br>|<br>2020-21 | 10,690.69 | <br>iasueelee<br>_d<br>_<br>| —<br>22<br>12,611.61<br>||||Figures as<br>er<br>oo,<2<br>Dake<br>8,254.30<br>.<br> 10,784.87 <br>Md<br> 12,612.13||Difference<br>ifany<br>Reason for Difference/Remark<br>|<br>=,<br>~ |The unit has stated thatthe<br>59.7<br>:<br>e<br>|SOFTEXsofthe previousmonth<br>fi:<br>,<br>Pp<br> |<br>94.18<br>_| iS filed inthe firstweekofthe<br>“| following month. Hence, while<br>-<br>| downloading it from NSDL,<br>0.52<br>| QOFTEN date ranwe would hese|||||
||||||||||| been retrieved from May to April.|
||—<br>——_-|;|||i||||+ same method for all zones. Even|
||2023-24<br>11,081.72||11,744.20<br>=||||662.48||__||| during carlierAPRmonitoring,<br>the same method was accepted.|
||(b) IMPORT (RM):|||||||||
||a<br>onhe||||||||___(Rs. In Lakhs) _|
||Year/<br>Figures as|Figures as per|||||Difference if<br>|<br>Reasons for difference|||
||Period<br>per APR||Trade Data<br>(NSDL)||||any|||
||2019-20<br>0.00||0.00||||||-|
||2020-21| 0.00||0.00|||||‘a Ger||
||2021-22<br>0.00||0.00|||||é|$|
||"2023-24|0.00||0.00||||||:||<br>4|

233

==> picture [439 x 608] intentionally omitted <==

----- Start of picture text ----- ns .._ {Rs.In Lakhs) ay as Figures Year/Period Annexure ag a Ditensane Reasons for difference (Amortized TradeData if any 2019 - 20 0.00 0.00 . | 2020 - 21 -23.75 (I1UT)| 23.60| 0.15 | Theunit stated thatthe | : a : | import data for the FY ——— = RF mistakenly due to | 20212024-25 - 22 | 13:070.03 | 24.400.00 || 11.830.03 | oversight.2017-18 wasDuc furnishedto that crror, 2023 | | there is a discrepancy. They _— oe - 24 2 -9.99 (IUT) . 1.38 | 8.61 | _ this have requestedoversightto condoneerror.  (F) Bond cum Legal Undertaking (BLUT) (Rs. In Lakhs) ~~ ll Year [2019-20 | 2020-21 | 2021-22 |2022-28| 2028-24 sean: OEseeneeeng ME 238.57 238.57 1,637.29 | 2,677.29 | Legal Undertaking | * me] 238. 38. Bee . ii |Remaining Value of BLUT given by entity at the start 135.82 133.30 124.82 1,410.34 2,318.76 of the Financial iii | Valuc of Additional } Bond-cum-Legal | Undertaking “ ™ (BLUT) poneror - - | 1,398.73 1,040.00 - during the | | |Financial Year. | at Seana e — iv |Theon Goods/duty Servicesforgone | || | imported or procured during | | the Financial Year 2.52 8.48 | 113.21 131.58 95.87 (should include the } GST foregone on DTA procured | |goods/services) || seersed 7 v | Remaining Value of | BLUT as at the end | of the Financial| — 133.30 124,82 1,410.34 | 2,318.76 | 2,222.89 Year [(ii) + (iii)- (iv)]. | | | 2023-| (G)ae oe _ 20 ] 21 22 230 |24 — OeDetails of pending Forcign | 2019-‘ |H 2020- || 2021- | 2022- | Remittance beyond Permissible | a a Ne NO NO _ period, ifany | eat Seen | oe —_s ____} ----- End of picture text -----

==> picture [442 x 606] intentionally omitted <==

----- Start of picture text -----

|||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|To|cross-check|the|same|and||
|verify|whether|necessary|||
|permission|from|AD|Bank|/|RBI||||
|(H)|| (a)has|Whetherbeen|obtained.all|SOFTEX_|has|been|ee|ee|||
|filed|for the|said|period.|If no,|details|||
|||thereof.|
|$0|to|also|check|whether|unit|has||YES|YES|YES|YES|YES|||
|||obtained|SOFTIEX|Condonation|from|
|DC|office|/|RBI|and|if|approved,|
|||_whether||pending SOFTEX.they|have|filed|such|||
|||(b)|Whether|all|SOFTEX|has|been|
|‘certified,|if|so|till|which|month|has|
|||the|same|been|certified.|If|not,|All|Certified|
|||||provide|details|of|the|SOFTEX|and|
|;|_|reasons|for pendency?|anpmanpeeameeell|
||(c)|Whether|unit|has|filed|any|NO|||NO|NO|NO|NO|
||_| request|for|Cancellation|of SOFTEX?|oh:|oe|oe|
|(I)|Whether|any|Services|provided|in|
|_DTA/SEZ/EOU/STPI|ctc.|against|
|||payment|in|INR|in|r/o|IT/ITES|Unit}|NO|||NO|NO|NO|NO|||
|during|the|period.|
|If|yes,|details|thereof|(year|wise|
|__|details|to|be|provided)|ee|ee||e|e|ns|| Laer|
|(J)|Is|the|unit|sharing|any|of|their|| NO|
|||infrastructures|with|other|units|or|
||}|are|[another]|utilizing|[unit]|in|theinfrastructuresame|or|otherof|||
|||SEZ.|
|If|so,|details|thercof,|including|the|
|details|of|the|unit|with|whom|the|
|sharing|is|being|made,|and|the}|
|||payment|terms|
|If|approval|for|sharing|of|common||
||infrastructure|has|been|obtained|
|UAC|/|Approval|letter|to|be|indicated|||
|||from|UAC|/|DC|office,|the|date of|||
|(K)||Whether|all|DSPF|for|services|||Filed|and|||Filed|and|||Filed|and|| Up|to]To|be|
|_|procured|during|the|said|monitoring|approved|| approved|||approved|||Jan|2023||filed|
|period|under|consideration|has|been|ee|
|filed|by|the|unit|and|whether|the|||.|Feb|&|
|'same|has|been|processed|for|||Mar|to|
|Las|||approval|by|the SO|Office,|| __i|be filed|
|(L)||Whether|unit|has|filed|all|a|
|||procurement|w.r.t.|the|goods|
|||procured|by|them|during|the||YES|
|monitoring|period|for|the|relevant|
|___ Ifperiod. no,|details|thereof||||cc|Cn|
|(M)|Details|of|the|request|IDs|pending|||NII|
|___|for procurementOOC|inon|respectthe|dateof|DTA“at|||*|——|Bs eleoesef|

----- End of picture text -----

| |

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----- Start of picture text ----- 34| (N) submissionofmonitoringreport mr oe — cine ercaspepmcsmumemamaccems anual | Has the unit set up any cafeteria / | canteen / food court in unit premises? | If yes, whether permission from UAC / DC office has been issued, or], ; Es ‘i ate : otherwise office has been issued, or =itdial cafeteria facility being otherwise si ahaa eosat : They are in the process of checking the mr e egangoods —/: serviceshas —for; bendscttingautyup Thedut y : /th a xve assured benefits if anythat: availedin case, byif they oversight. have: such facility?is availed any tax: benefits,; they: would remit the same along with applicable interest and seck | If yes, whether unit has discharged regularization approval for the same. such duty / tax benefit availed? _ details to be given including amount of duty / tax recovered or yet to be (O) wrecovereg Qo pettnmcanprianincinel | Whether any violation of any of the | } provisions of law has been noticed / NO NO NO NO NO  duringobserved the byperiodthe underSpccifiedmonitoringOfficer. — | ae | ssitinccaiaael | ----- End of picture text -----

==> picture [419 x 213] intentionally omitted <==

----- Start of picture text ----- Findings 1. | This is 5 years’ performance scrutiny (2019-20) of last year of the first block and | (2020-21 to 2023-24) 4 years of the 2.4 Block period. (Block period calculated from | |2. 2015-16as DCP is 01.03.2015) 7 = | | i. The unit has achieved export revenue of Rs. 8,314.00/- Lakhs as against projected export of Rs. 8,287.59/- i.c. 155.84% during the period for FY 2019-20 ii. The unit has achieved export revenue of Rs. 10,690.69/- Lakhs as against projected export of Rs. 6,265.02/- i.c. 136.83% during the period for FY 2020-21 iii. The unit has achieved export revenue of Rs. 12,611.61/- Lakhs as against projected export of Rs. 6,390.32/- i.c. 138.72% during the period for FY 2021-22 iv. The unit has achieved export revenue of Rs, 16,543.30/- Lakhs as against projected export of Rs. 6,390.32/- i.c. 130.79% during the period for FY 2022-23 v. The unit has achieved export revenue of Rs. 11,081.72/- Lakhs as against | projected export of Rs. 20,594.50/- i.c. 130.79% during the period for FY 2023-24 _ ----- End of picture text -----

| Cumulative Net Forcign Exchange Rs. 20,775.68/- lakh is positive for FY 2019-20. Cumulative Net Foreign Exchange Rs. 9,864.97/- lakh is positive for FY 2020-21. | Cumulative Net Foreign Exchange Rs. 19,688.03/- lakh is positive for FY 2021-22. Cumulative Net Forcign Exchange Rs. 32,979.81/- lakh is positive for FY 2022-23. | Cumulative Net Forcign Exchange Rs. 41,082.33/- lakh is positive for FY 2023-24. a There is ano CRA Objection pending to be looked into. _ | 5. ‘There is no SCN pending. - _ a a ; ee | 6. | APRs for the FY 2019-20 to 2023-24 have been submitted and filed within the ____| Prescribed time. pieicececertnerapeamminn 7. | Capital Goods Amortization has been shown and there have been imports _|8. according to the NSDL data for FY 2020-21, 2022-23& 2023-24. | All SOFTEXs have bcen filed and certified. 9. | All DSPFs except for FEB '23 & Mar’23 and for the FY 2023-24 have been filed. 10 | The unit stated that the import data for the FY 2017-18 was furnished mistakenly _»| due to oversight. Duc to that error, there is a discrepancy in the import data.

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