IN FORCE SEZ / EOU / FTWZ 2025-03-20

Agenda of the Approval Committee meeting held on 24.03.2025 -AURUM-SEZ

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Ǒदनांक 03.03.2025 को आयोिजत यूएसी बैठक के ͧलए कȧ गई कार[वाई Action taken for the UAC Meeting held on 03.03.2025 सेज़ का नाम/ Name of SEZ इकाई का नाम/ Name of Unit ͪवषय/ Subject कȧ गई कार[वाई/ Action Taken M/s. Aurum Real Estate Developers Limited M/s. Hexaware Technologies Ltd. Monitoring of the performance of M/s. Hexaware Technologies Ltd. for the period FY 2019-20 to FY 2022-23. Letter dated 21.03.2025 issued to unit. M/s. Firstrand Services Pvt.

Monitoring of the performance of M/s. Firstrand Services Pvt. Ltd. for the period FY 2019-20 to FY 2023-24. Show Cause Notice is being issued.

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

AGENDA NOTE FOR CONSIDERATION OF APPROVAL COMMITTEE

a. Proposal : Monitoring of the performance of M/s. KINAI INFOTECH LLP an IT/ITES unit located at Unit No. 5, 11th Floor, Building Q1, Aurum Platz IT Pvt. Ltd-SEZ, Plot Gen4-1, MIDC Thane-Belapur Road, Ghansoli, Navi Mumbai-400710 for 2nd and 3rd year i.e. 2022-23 to 2023-24 of 2nd block period (FY 2021-22 to 2024-25). b. Specific Issue on which decision of AC is required: -
Monitoring of the performance of the unit for 2nd and 3rd year i.e. 2022-23 to 2023-24 of 2nd block period (FY 2021-22 to 2024-25), in terms of Rule 54 of SEZ Rules, 2006. c. Relevant provisions of SEZ Act, 2005 & Rules, 2006/Instruction/
Notification :- As per Rule 54 of SEZ Rules, 2006 “Performance of the Unit shall be monitored by the Approval Committee as per guidelines given in Annexure appended to these rules”. d. Other Information: - i. Approved Projections: (2nd Block Period) (Rs. in Crores)

2021-22 2022-23 2023-24 2024-25 2025-26 Total FOB Value of Exports 3.00 4.00 5.00 6.00 7.00 25.00 FE Outgo 0.48 0.72 0.90 1.20 1.25 4.55 NFE 2.52 3.28 4.10 4.80 5.75 20.45 ii. Performance as compared to projections: For FY 2021-22 to 2025-26 (Rs. in Crores)
Year Export FE OUTGO Raw Material (Goods/Services) C.G. import/IUT Other Outflow

Projected Actual Projected Actual Projected Actual Actual 2021-22 3.00 7.94 N.A. N.A. 0.05 0.0006 0.86 2022-23 4.00 10.39 0.0005 0.65 2023-24 5.00 19.70 2.78 1.53 Total 12.00 37.97 0.05

3.04 iii. Cumulative NFE achieved :

Year Projected Cumulative NFE Cumulative NFE Achieved As per APR (Coloumn 9) Cumulative NFE as per Calculation Cumulative % NFE as per calculation 2021-22 2.52 6.83 6.83 270.24 % 2022-23 5.80 16.32 16.32 280.86 % 2023-24 9.90 34.21 33.93 342.73 % Year FOB value of export FE Outgo Calculated NFE (As per Scrutiny) NFE (As per APR) Cumulative NFE (As per APR) Cumulative NFE as per Calculation 1 2 3 (Amortised Value+Other Outflow) 4 2-3= 5 6 7 As per APR FY 2021-22 7.94 0.25+0.86= 1.11 6.83 6.83 6.83 6.83 As per APR FY 2022-23 10.39 0.25+0.65= 0.9 9.49 9.49 16.32 16.32 As per APR FY 2023-24 19.70 0.53+1.53= 2.06 17.64 17.89 34.21 33.96 i. a. FY 2022-23 to 2023-24 for 2nd block. (Rs. in Crore)

i. b. NFE for scrutiny period:- (Rs. in Crore)

(iii) Capital Goods Amortized Values table:- Year CG Imp. 4B(v) Amortized Value

2016-2017 97.51 9.75

2017-2018 113.00 21.05

2018-2019 7.87 21.84

2019-2020 35.68 25.41

2020-2021 0.00 25.41

2021-2022 0.06 25.41

2022-2023 0.05 25.42

2023-2024 278 53.22

Total 532.17 207.51

Other Information: LOA No. & Date SEEPZ/NEWSEZ/SUNSTREAM-THANE/05/2015-16/946, Dated 22.01.2016 Location of Unit Unit No.5, 11th Floor, Level 06, Building Q1 developed by loma Co-Developers 1 Pvt Ltd. in Aurum Platz IT Pvt. Ltd., IT/ITES SEZ plot No. Gen 4/1, TTC Industrial Area, MIDC Thane Belapur Road, Ghansolim Navi Mumbai 400710 Validity of LOA 31.01.2025 Item(s) of manufacture/ Services To carry on the business of designing, development, manufacture, customization, implementation, maintenance, testing and benchmarking of computer software and solutions, games & applications for in-flight systems/platforms and others. Date of commencement of production 04.04.2016 Execution of BLUT Yes Validity of Lease Agreement 31.01.2023 The unit vide letter dated 06.01.2021 has submitted Memorandum of Understanding entered into the Developer for extending the leave & license till 31.03.2026. Pending CRA Objection, if any No Pending Show Cause Notice/ Eviction Order/Recovery Notice/ Recovery Order issued, if any No

Employment for the block period

As per projection Man: 20 Woman: 06 Total: 26 As on 31st March 2024: (As per Specified Officer reports) Man: 21 Woman: 03 Total: 24 Area allotted (in sq. ft.) 763 Sq. Ft.

(Area Sq. Ft./No. of Employees) Area available for each employee per sq.ft. basis (area / no. of employees)

31.80

Investment till date (Rs. In Lakhs)

Building 22-23 23-24 0.00 0.00 Plant & Machinery 160.50 161.36 TOTAL 160.50 161.36 Quantity and value of goods exported under Rule 34 (unutilized goods) N.A. Value Addition during the monitoring period N.A. Whether all the APRs being 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. Yes

The Specified Officer report vide letter dated 13.02.2025 has submitted reported as detailed below:

a. EXPORT:- (Rs. In Crore) Year/Period Figures as per APR Figures as per Softex/SB/Customs Records (INR) Difference if any Reason for Difference INR (Cr.) USD (Million) INR (Cr.) USD (Million) INR (Cr.) USD (Million)

2022-23 10.39 1.30 10.08 1.26 0.31 0.04 Difference in INR USD exchange rate considered by NSDL. They consider exchange rate as per RBI and same is furnished in worksheet uploaded while filling softex form online, But the exchange rate furnished by them in softex is not matching with NSDL data. 2023-24 19.70 2.38 19.47 2.37 0.23 0.01 Difference in INR USD exchange rate considered by NSDL. They considered exchange rate as per RBI and same is furnished in worksheet uploaded while filing softex form online, but the exchange rate furnished by them in softex is not matching with NSDL data. b. Import i. (Capital Goods including procurement done on IUT (from SEZ, EOU, STPI, EHTP) basis: (Rs. In Crore) Year/ Period Figures as per APR Figures as per Softex/SB/Customs Records (INR) Difference if any Reason for Difference / Remark in INR as conveyed by the unit INR (Cr.) USD INR (Cr.) USD INR

USD

2022-23 0.0005 60 0.0005 60 0.00 0 NA

2023-24 2.78 40.35 0.37 43.91 2.41 3.56 The schedule 4[B] (i) require the total amount of existing capital goods imports till the end of the year under report for the last 10 years. The total imports since inception by the unit were Rs. 2,78,47,980.36 (including CG received on loan basis for project porpose net of re-exports). But while converting it into lakhs, due to typo error, the figure was wrongly mentioned as Rs. 2784.80 Lakhs instead of Rs. 278.48 Lakhs. The figure of Rs. 278.48 Lakhs is total existing capital goods for the unit since inception which includes imports during the year of Rs. 36.96 Lakhs. 10% of this Rs. 278.48 Lakhs amounting to Rs. 27.85 Lakhs was proportionately amortized as required.

ii. Raw Material (Rs. in Cr.) Year/ Period Figures as per APR Figures as per SEZ Online/Customs Records (INR) Difference if any Reason for Difference/Remarks 2022-23 0.00 0.00 0.00 NA 2023-24 0.00 0.00 0.00 N c. BLUT 1. Value of BLUT Executed (Duty foregone) including for CG/Raw Material/Services)

Value of Additional BLUT executed -Year

BLUT amount F. No. SEEPZ/NEWSEZ/ SUNSTREAM-THANE/05/ 2015- 16/13585, dated 13.08.2021

Rs. 96 Lakhs

Total Duty Foregone on goods & services procured Category –wise BLUT value utilized separately for imported and indigenous goods and services) This should be based on BLUT worksheet which provides for estimated value and duty foregone separately for each category of procurement.

F.Y. Goods Services (Rs. in Lakhs) (Imported & Indigenous) (Rs. in Lakhs) 2022-23 1.23 4.54 2023-24 8.22 6.04 Total 9.45 10.58

3 Has the Unit procured goods and or services without having sufficient balance in their BLUT? If Yes, Month & Year when the BLUT was exhausted Details of the consignments and Total value of Goods procured without having suffiecient or nil balance in BLUT No

(d) Employment made as on date (as on end of block period / year up to which monitoring is being done) (March 2024)

Gender As per the LOA (Form F1) As on 31.03.2023 As on 31.03.2024 Men 20 19 21 Women 6 3 3 Total 26 22 24

(e) Details of pending Foreign Remittance beyond Permissible period, if any (as on 31 March, 2024)

To cross-check the same and verify whether necessary permission from AD Bank / RBI has been obtained. NIL (f) Whether all softex has been filed for the said period. If no, details thereof.

SO to also check whether unit has obtained Softex condonation from DC office / RBI and if approved, whether they have filed such pending Softex. Yes (g) Whether all Softex has been certified, if so till which month has the same been certified. If not, provide details of the Softex and reasons for pendency. Yes, all softex forms are Certified upto March,2024. (h) Whether unit has filed any request for Cancellation of Softex No (i) Whether any Services provided in DTA/SEZ/EOU/STPI etc. against payment in INR in r/o IT/ITES Unit during the period. If yes, details thereof (year wise details to be provided) No (j) SO to verify and certify whether the unit has updated the BLUT ledger Module in SEZ Online. NA

(k) Has the unit cleared any Capital Goods procured duty free in DTA against payment of Duty or otherwise? Full details to be provided along with value of assets and duty discharged No. (l) Is the unit sharing any of their infrastructures with other units or are utilizing infrastructure of another unit in the same or other 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 UAC / Approval letter to be indicated No (m) Whether all DSPF for services procured during the said monitoring period under consideration has been filed by the unit and whether the same has been processed for approval by the SO. Yes (n) Whether unit has filed all DTA procurement w.r.t. the goods procured by them during the monitoring period for the relevant period. If no, details thereof Yes (o) Details of the request IDs pending for OOC in respect of DTA procurement on the date of submission of monitoring report Nil (p) 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 otherwise office has been issued, or 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 of duty / tax recovered or yet to be recovered No (q) Whether any violation of any of the provisions of law has been noticed / observed by the Specified Officer during the period under monitoring No.

     Further, Specified Officer stated that, the above figures are based on the details furnished by the

SEZ unit and data available on SEZ Online. These may be records for the purpose of monitoring of Performance of SEZ unit for the period 2022-23 to 2023-24 of M/s. Kinai Infotech LLP., Aurum-SEZ, Mumbai.

Findings

This is 2nd and 3rd years performance scrutiny i.e. 2022-23 to 2023-24 of 2nd block period (FY 2021-22 to 2024-25). 2. The unit has achieved export revenue of Rs. 10.39/- Crore as against projected export of Rs. 4.00/- Crore i.e.259.75% during the period for FY 2022-23. 3. The unit has achieved export revenue of Rs. 19.70/- Crore as against projected export of Rs. 5.00/- Crore i.e.394.00 % during the period for FY 2023-24. 4. Cumulative Net Foreign Exchange Rs. 16.32/- Crore is positive for FY 2022-23 as per APR. 5. Cumulative Net Foreign Exchange Rs. 33.96/- Crore is positive for FY 2023-24 as per APR. 6. There is no CRA pending. 7. There is no SCN pending. 8. The APR for the FY 2022-23 to 2023-24 has filed withing presciribed time. F.Y. Submission Date 2022-23 08.09.2023 2023-24 12.09.2024

It is observed that,

Unit has wrongly mentioned figures in Coloumn No.4(B) in the APR for the period 2021-22 to 2023-24. Annexure-B (Amortized sheet) is attached for reference.
Unit has wrongly mentioned figures in Coloumn No.4(B) (vi) in the APR for the period 2021-22 to 2023-24. Annexure-A (Export and Import Data) is attached for reference.

It is also observed that, The monitoring performance of the unit for 5th year i.e. 2020-21 of 1st block and 3rd year i.e. 2021-22 of 2nd block period (FY 2021-22 to 2024-25) was placed before UAC meeting held on 29.05.2023 and the committee, noted the performance as the unit has achieved positive NFE of Rs. 1454.91/- lakhs on cumulative basis during the years 2020-21 to 2021-22. However, It is to mention that, NFE for the period 2021-22 of 1st Year of 2nd block period (FY 2021-22 to 2024-25) will be 6.83 crore as per calculation. e. Recommendation: The proposal of the units based on the FSR in terms of Rule 54 of SEZ Rules, 2006 is submitted to the Approval Committee for consideration.

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

AGENDA NOTE FOR CONSIDERATION OF APPROVAL COMMITTEE

a. Proposal : Monitoring of the performance of M/s. Thirdware Digital Services an IT/ITES unit located at Unit No. 11, Level 6, Building Q1 Developed by Loma Co-Developers 1 Pvt. Ltd. in Aurum Platz IT Pvt. Ltd-SEZ, Plot No. Gen 4/1, TTC Industrial Area, MIDC Thane-Belapur Road, Ghansoli, Navi Mumbai-400710 for 2nd to 5th year i.e. 2020-21 to 2023-24 of 1st block period (FY 2019-20 to 2023-24). b. Specific Issue on which decision of AC is required: -
Monitoring of the performance of the unit for 2nd to 5th year i.e. 2020-21 to 2023-24 of 1st block period (FY 2019-20 to 2023-24), in terms of Rule 54 of SEZ Rules, 2006. c. Relevant provisions of SEZ Act, 2005 & Rules, 2006/Instruction/
Notification :- As per Rule 54 of SEZ Rules, 2006 “Performance of the Unit shall be monitored by the Approval Committee as per guidelines given in Annexure appended to these rules”. d. Other Information: - i. Approved Projections: (2nd Block Period) (Rs. in Crores)

2019-20 2020-21 2021-22 2022-23 2023-24 Total FOB Value of Exports 0.21 15.75 35.00 49.00 59.50 159.46 FE Outgo 0.11 6.12 15.19 18.25 21.40 61.07 NFE 0.10 9.63 19.81 30.75 38.10 98.39 ii. Performance as compared to projections: For FY 2019-20 to 2023-24 (Rs. in Crores)
Year Export FE OUTGO Raw Material (Goods/Services) C.G. import/IUT Other Outflow

Projected Actual Projected Actual Projected Actual Actual 2019-20 0.21 0.16 0.00 0.00 1.5 0.00 0.00 2020-21 15.75 8.46 0.00 0.00 0.00 1.48 2021-22 35.00 18.18 0.00 0.00 0.00 2.56 2022-23 49.00 22.45 0.00 0.00 0.00 3.47 2023-24 59.50 39.35 0.00 0.00 0.00 17.25 Total 159.46 88.60 0.00 0.00 1.5 0.00 24.76

Year Projected Cumulative NFE Cumulative NFE Achieved As per APR (Coloumn 9) Cumulative NFE as per Calculation Cumulative % NFE as per calculation 2020-21 9.73 7.13 7.13 73.28 % 2021-22 29.54 22.75 22.75 77.01 % 2022-23 60.29 41.72 41.72 69.20 % 2023-24 98.39 63.73 63.73 64.77 % Year FOB value of export (As per APR) FE Outgo Calculated NFE (As per Scrutiny) NFE (As per APR) Cumulative NFE as per Calculation Cumulative NFE (As per APR) 1 2 3 4 5 4 (2-5) 5 6 7 Amortised Value+ Other Outflow Total (3+4) 2020-21 8.46 0.00 1.48 1.48 6.98 6.97 7.14 7.13 2021-22 18.18 0.00 2.56 2.56 15.62 15.62 22.76 22.75 2022-23 22.45 0.00 3.47 3.47 18.98 18.97 41.74 41.72 2023-24 39.35 0.0815 17.25 17.33 22.02 22.00 63.76 63.73 iii. Cumulative NFE achieved : a. FY 2020-21 to 2023-24 for 1st block. (Rs. in Crore)

b. NFE for scrutiny period:- (Rs. in Crore)

c. Capital Goods Amortized Values table:- (Rs. in Lakhs) Year CG Imp. 4B(v) Amortized Value

2019-2020 0.00 0.00

2020-2021 0.00 0.00

2021-2022 0.00 0.00

2022-2023 0.00 0.00

2023-2024 81.50 8.15

Total 81.50 8.15

Other Information: LOA No. & Date SEEPZ-SEZ/NEWSEZ/AURUM-SEZ/TDSL/LCD-1/01/2019- 20/04695, Dated 05.03.2020 Location of Unit Unit No. 11, Level 6, Building Q1 Developed by Loma Co- Developers 1 Pvt. Ltd. in Aurum Platz IT Pvt. Ltd-SEZ, Plot No. Gen 4/1, TTC Industrial Area, MIDC Thane-Belapur Road, Ghansoli, Navi Mumbai-400710 Validity of LOA 11.03.2025 Item(s) of manufacture/ Services Software Development and Services
Date of commencement of production 12.03.2020 Execution of BLUT Yes Validity of Lease Agreement 04.03.2025 Pending CRA Objection, if any No Pending Show Cause Notice/ Eviction Order/Recovery Notice/ Recovery Order issued, if any No Employment for the block period

As per projection Man: 100 Woman: 25 Total: 125 As on 31st March 2024: (As per Specified Officer reports) Man: 29 Woman: 15 Total: 44 Area allotted (in sq. ft.) 4987 Sq. Ft.

(Area Sq. Ft./No. of Employees) Area available for each employee per sq.ft. basis (area / no. of employees)

113.34

Investment till date (Rs. In Lakhs)

Building 20-21 21-22 22-23 23-24 0.00 0.00 0.00 0.00 Plant & Machinery 29.63 36.24 36.24 36.24 TOTAL 29.63 36.24 36.24 36.24 Quantity and value of goods exported under Rule 34 (unutilized goods) N.A. Value Addition during the monitoring period N.A. Whether all the APRs being 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. 20-21 21-22 22-23 23-24 23.06.2021 31.05.2022 24.08.2023 No, APR for the FY 2023-24 filed on 07.11.2024. The unit has delayed in submission of APR by 37 days.

The Specified Officer, AURUM-SEZ has submitted report vide letter dated 24.02.2025 and inform that, the submission of the unit are verified and the details thereof for the FYs from 2020-21 to 2023-24 are submitted as mentioned below:- a. EXPORT:- (Rs. In Crore) Year/ Period Figures as per APR Figures as per Softex/SB/Customs Records (INR) Difference if any Reason for Difference / Remark in INR as conveyed by the unit INR (Cr.) USD (Million) INR (Cr.) USD (Million) INR (Cr.) USD (Million) 2020-21 8.46 1.13 4.56 0.56 3.90 0.57 During the year unit have provided the Onsite services which was amounting to Rs. 0.41 and there was an unbilled (accrued) revenue which is reported in APR amounting to Rs. 1.16 and also there were some exchange rate adjustments which will be around Rs. 0.03 crores. As per NSDL data Softex invoices for the month of March-20 is considered in the month of April-20 i.e. F.Y. 20-21 which is amounting to (Rs. 0.09) Crore and also invoices of Mar-21 is considered in the month of Apr-21 i.e. F.Y. 21-22 is amounting to Rs. 2.39 Crores.

2021-22 18.18 2.38 18.18 2.25 0.00 0.13 During the year unit have reported an unbilled (accrued) revenue reported in APR which is amounting to Rs. 0.32 and there were some exchange rate adjustments which will be around Rs. 0.24 crores. As per NSDL data Softex invoices for the month of March-21 is considered in the month of April-21 i.e. F.Y. 21-22 which is amounting to (Rs. 2.39) Crore and also invoices of Mar-22 is considered in the month of Apr-22 i.e. F.Y. 22-23 is amounting to Rs. 1.83 Crores. 2022-23 22.45 2.77 17.17 2.18 5.28 0.59 During the year unit have provided the Onsite Services which was amounting to Rs. 3.31 and there was an unbilled (accrued) revenue reported in APR which is amounting to Rs. 0.33 and also there were some exchange rate adjustment which will be around R.s 0.18 crores. As per NSDL data Softex invoices for the month of March-22 is considered in the month of April-22 i.e.F.Y.22-23 which is amounting to (Rs. 1.83) Crore and also invoices of Mar-23 is considered in the month of Apr-23 i.e. F.Y. 23- 24 is amounting to Rs. 3.29 Crores.

2023-24 39.35 4.73 38.22 4.65 1.13 0.08 During the year unit have reported an unbilled (accrued) revenue reported in APR which is amounting to Rs. 0.10 and there were some exchange rate adjustments which will be around Rs. 0.33 crores. As per NSDL data Softex month of March-23 is considered in the month of April-23 i.e. F.Y. 23-24 which is amounting to (Rs. 3.29) Crore and also invoices of Mar-24 is considered in th month of Apr-23 i.e. F.Y. 24-25 is amounting to Rs. 3.99 Crores. B. Import (i) Capital Goods including procurement done on IUT (from SEZ, EOU, STPI, EHTP) basis: (Rs. In Crore) Year/ Period Figures as per APR Figures as per Softex/SB/Customs Records (INR) Difference if any Reason for Difference / Remark in INR as conveyed by the unit INR (Cr.) USD INR (Cr.) USD INR

USD

2020-21 0.00 0.00 0.00 0.00 0.00 0 NA 2021-22 0.00 0.00 0.00 0.00 0.00 0 NA 2022-23 0.00 0.00 0.00 0.00 0.00 0 NA 2023-24 0.81 0.10 0.81 0.10 0.00 0 NA (ii) Raw Material (Rs. in Cr.) Year/ Period Figures as per APR Figures as per SEZ Online/Customs Records (INR) Difference if any Reason for Difference / Remark in INR as conveyed by the unit 2020-21 0.00 0.00 0.00 NA 2021-22 0.00 0.00 0.00 NA 2022-23 0.00 0.00 0.00 NA 2023-24 0.00 0.00 0.00 NA

c. BLUT

Value of BLUT Executed (Duty foregone) including for CG/Raw Material/Services) Value of Additional BLUT executed -Year

BLUT amount -Year
BLUT amount Total value of BLUT Executed: In Crore F. No. SEEPZ-SEZ/NEWSEZ/ AURUM- SEZ/TDS/LCD-1/01/2019-20/04695, dated 05.03.2020

Rs. 3.31 Crores

Total Rs. 3.31 Crores

F.Y. Goods Services (Rs. in Crores) (Imported & Indigenous) (Rs. in Crores) 2020-21 0.05 0.10 2021-22 0.02 0.13 2022-23 0.000 0.20 2023-24 0.00 0.47 Total 0.07 0.90 3 Has the Unit procured goods and or services without having sufficient balance in their BLUT? If Yes, Month & Year when the BLUT was exhausted Details of the consignments and Total value of Goods procured without having suffiecient or nil balance in BLUT No (d) Employment made as on date (as on end of block period / year up to which monitoring is being done) (March 2024) Gender As per the LOA (Form F1) As on 31.03.2023 As on 31.03.2024 Men 100 40 29 Women 25 22 15 Total 125 62 44

(e) Details of pending Foreign Remittance beyond Permissible period, if any (as on 31 March, 2024) To cross-check the same and verify whether necessary permission from AD Bank / RBI has been obtained. No (f) Whether all softex has been filed for the said period. If no, details thereof.

SO to also check whether unit has obtained Softex condonation from DC office / RBI and if approved, whether they have filed such pending Softex. All the Softex Forms till March, 2024 has been certified. (g) Whether all Softex has been certified, if so till which month has the same been certified. If not, provide details of the Softex and reasons for pendency. Yes, all softex forms are Certified upto March,2024. (h) Whether unit has filed any request for Cancellation of Softex No (i) Whether any Services provided in DTA/SEZ/EOU/STPI etc. against payment in INR in r/o IT/ITES Unit during the period. If yes, details thereof (year wise details to be provided) No (j) SO to verify and certify whether the unit has updated the BLUT ledger Module in SEZ Online. N.A. (k) Has the unit cleared any Capital Goods procured duty free in DTA against payment of Duty or otherwise? Full details to be provided along with value of assets and duty discharged N.A. (l) Is the unit sharing any of their infrastructures with other units or are utilizing infrastructure of another unit in the same or other 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 UAC / Approval letter to be indicated No (m) Whether all DSPF for services procured during the said monitoring period under consideration has been filed by the unit and whether the same has been processed for approval by the SO. No (n) Whether unit has filed all DTA procurement w.r.t. the goods procured by them during the monitoring period for the relevant period. If no, details thereof Yes (o) Details of the request IDs pending for OOC in respect of DTA procurement on the date of submission of monitoring report Nil

(p) 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 otherwise office has been issued, or 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 of duty / tax recovered or yet to be recovered No (q) Whether any violation of any of the provisions of law has been noticed / observed by the Specified Officer during the period under monitoring No. Further, Specified Officer stated that, the above figures are based on the details furnished by the SEZ unit and data available on SEZ Online. These may be records for the purpose of monitoring of Performance of SEZ unit for the period 2020-21 to 2023-24 of M/s. Thirdware Digital Services (A Div. of Thirware Solution Limited- Unit 11, Aurum-SEZ, Mumbai. Findings 1. This is 2nd to 5th years performance scrutiny i.e. 2020-21 to 2023-24 of 1st block period (FY 2019-20 to 2023-24). 2. The unit has achieved export revenue of Rs. 8.46/- Crore as against projected export of Rs. 15.75/- Crore i.e. 53.71% during the period for FY 2020-21. 3. The unit has achieved export revenue of Rs. 18.18/- Crore as against projected export of Rs. 35.00/- Crore i.e. 51.94% during the period for FY 2021-22. 4. The unit has achieved export revenue of Rs. 22.45/- Crore as against projected export of Rs. 49.00/- Crore i.e. 45.81 % during the period for FY 2022-23. 5. The unit has achieved export revenue of Rs. 39.35/- Crore as against projected export of Rs. 59.50/- Crore i.e. 66.13 % during the period for FY 2023-24. 6. Cumulative Net Foreign Exchange Rs. 16.32/- Crore is positive for FY 2022-23 as per APR. 7. Cumulative Net Foreign Exchange Rs. 7.13/- Crore is positive for FY 2020-21 as per APR. 8. Cumulative Net Foreign Exchange Rs. 22.75/- Crore is positive for FY 2021-22 as per APR. 9. Cumulative Net Foreign Exchange Rs. 41.72/- Crore is positive for FY 2022-23 as per APR. 10. Cumulative Net Foreign Exchange Rs. 63.73/- Crore is positive for FY 2023-24 as per APR. 11. There is no CRA pending. 12. There is no SCN pending.

The APR for the FY 2020-21 has been filed within prescribed time & submitted on 23.06.2021. The APR for the FY 2021-22 has been filed within prescribed time & submitted on 31.05.2022. The APR for the FY 2022-23 has been filed within prescribed time & submitted on 24.08.2023. The APR for the FY 2023-24 has not been filed within prescribed time & submitted on 07.11.2024 i.e. there is a delay of 37 days.

e. Recommendation: The proposal of the unit based on the FSR in terms of Rule 54 of SEZ Rules, 2006 is submitted to the Approval Committee for consideration.

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

AGENDA NOTE FOR CONSIDERATION OF APPROVAL COMMITTEE

a. Proposal : Application for change of name of the Company from M/s. Thirdware Digital Services Ltd (A division of Thirdware Solution Ltd) to M/s. Tech Mahindra Ltd. b. Specific Issue on which decision of AC is required: -
Change of Name due to Merger of M/s. Thirdware Digital Services Ltd ( A division of Thirdware Solution Ltd to M/s. Tech Mahindra Ltd. Approved vide NCLT order dt. 06.01.2025 in terms of MoC&I instruction No. 109 dated 18.10.2021. 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: - M/s. Thirdware Digital Services Ltd ( A division of Thirdware Solution Ltd was issued LoA No. SEEPZ- SEZ/NEWSEZ/AURUMSEZ/TDS/LCD-1/01/2019-20/04695 Dated 05.03.2020 located at Unit No. 11, Level 6, Building Q1, Loma Co-developer 1 Pvt. Ltd- IT/ITES SEZ, Plot no. Gen 4/1, TTC Industrial Area, Thane Belapur Raod, Village Ghansoli, Navi Mumbai- 400710 for Software Development and service. The unit commenced it activity dated 12.03.2020.

Name of the Unit M/s. Thirdware Digital Services (A Division of Thirdware Solution Ltd.) 2. LOP No. & Date SEEPZ-SEZ/NEWSEZ/AURUMSEZ/TDS/LCD- 1/01/2019-20/04695 Dated 05.03.2020 3. Location Unit No. 11, Level 6, Building Q1, Loma Co- developer 1 Pvt. Ltd- IT/ITES SEZ, Plot no. Gen 4/1, TTC Industrial Area, Thane Belapur Raod, Village Ghansoli, Navi Mumbai- 400710. 4. Area 4987 Sq. Ft. (Chargeable Area) 3588 Sq. Ft. (Carpet Area) 5. Item(s) of manufacture/Trading Software Development and services 6. Date of commencement of production 12.03.2020 7. LOA Valid upto 11.03.2025 8. New Name as Proposed M/s. Tech Mahindra Ltd.

The unit has submitted the application for Change of name of company from M/s. Thirdware Digital Services (A Division of Thirdware Solution Ltd.) to M/s. Tech Mahindra Ltd. based on the NCLT order dated 06.01.2025.

  The details of Directors and Shareholding Pattern and Profit Sharing ratio are as follows :-

A. DETAILS OF DIRECTORS BEFORE AND AFTER CHANGE

List of Partners of M/s. Thirdware Digital Services (A Division of Thirdware Solution Ltd.) List of Directors of M/s. Tech Mahindra Ltd. Sr. No. Name of the Directors Designation DIN Name of the Directors Designation DIN 1 Mr. Nalin Mittal Director 02170896 Mr. Anand Gopal Mahindra Chairman 00004695 2 Mr. Padala Ramkrishna Rao Director 09854951 Mr. Mohit Joshi Managing Director & CEO 08339247 3 Mrs. Heena Nikhil Shah Director 10099961 Dr. Anish Shah Director 02719429

Mr. Haigreve Khaitan Director 00005290

Dr. Mukti Khaire Director 08356551

Ms. Penelope Fowler Director 09591815

Ms. Shikha Sharma Director 00043265

Mr. Tarun Bajaj Director 02026219

Mr. Neelam Dhawan Director 00871445

Mr. Puneet Renjhen Director 09498488

It is seen from the above that there is change in the directors before and after.

However, it is to mention As per this office record the director of the company are as follows :

Mr. Bhavesh Shah
Mr. Nalin Mittal
Mr. Jagdish Mitra

In respect of above unit vide letter dated 20.01.2025 has confirmed that the directors of the company are:

Mr. Padala Ramkrishna Rao
Mr. Nalin Mittal
Mrs. Heena Nikhil Shah

Further, M/s. Thirdware Digital Services (A Division of Thirdware Solution Ltd.) has requested to condone the delay of intimating the change in director due to change in structure and changes in team members with department.

B. DETAILS OF SHAREHOLDING PATTERN OF M/s. Thirdware Digital Services (A Division of Thirdware Solution Ltd.) BEFORE CHANGE OF THE COMPANY

It is seen that the unit has not furnished CA certified Shareholding pattern of M/s. Thirdware Digital Services (A Division of Thirdware Solution Ltd.) and M/s. Tech Mahindra Ltd which was sought vide mail dated 18.03.2025.

 The unit has furnished the following documents for change submitted following requisite

details/documents:

NCLT Order with INC-28.
List of Directors before & after.
IEC of the Amalgamated Company.
PAN of Amalgamated Company.
Board Resolution for the Merger.
Copy of MOA & AOA i.r.o. M/s. Tech Mahindra Ltd.
Copy of ROC for Change of Name-INC-28.
Copy of Board Resolution of Change of Name & Directors- name of the transferee company M/s. M/s. Tech Mahindra Ltd. is same before & after the Merger. Merger Resolution & NCLT order have been attached. The List of Directors before & After the merger.
Undertaking as per instruction no. 109 dated 18.10.2021.

MOC&I Instruction No. 109 dated 18.10.2021 – “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’.

e. Recommendation: Proposal of the unit for change of name of the company from M/s. Thirdware Digital Services (A Division of Thirdware Solution Ltd.) to M/s. Tech Mahindra Ltd. based on the NCLT order dated 06.01.2025 is placed before Approval Committee Meeting for consideration in terms of MoC&I Instruction No. 109, Dated 18.10.2021.

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

AGENDA NOTE FOR CONSIDERATION OF APPROVAL COMMITTEE

a. Proposal : Request of M/s. Aurum RealEstate Developers Limited (Developer) for approval of procurement of list of material required for Construction of Building IT Tower No. 03/Q3. b. Specific Issue on which decision of AC is required: -
Approval of procurement of list of material amounting to Rs. 209,67,00,000/- required for Construction of Building IT Tower No. 03/Q3. c. Relevant provisions of SEZ Act, 2005 & Rules, 2006/Instruction/
Notification :- Rule 12(2) of SEZ Rules, 2006 – “The Developer shall make an application, after obtaining approval for authorized operation under rule 9 to the Development Commissioner along with the list of goods and services, including machinery, equipments and construction materials required for the authorized operations, duly certified by Chartered Engineer for approval by the Approval Committee” and also Instruction No. 50, dated 15.03.2010 issued by MOC&I. d. Other Information: - 1. Formal Approval No. & Date F.1/1/2016-SEZ, Dated 11.01.2016 2. Sector Development, operation and maintenance of the sector specific Special Economic Zone for Information Technology/Information Technology Enabled Services (IT/ITES)
3. SEZ location Plot No. G-4/1, TTC Industrial Area, MIDC Thane- Belapur Road, Ghansoli, Navi Mumbai-400 710 4. Developer’s Proposal The Developer's vide letters dated 05.06.2024 & 11.03.2025 has requested approval for procurement of list of material required for Construction of Building IT Tower No. 03/Q3. 5. Certified by Chartered Engineer? The list of goods is certified by the Chartered Engineer Mr./Mrs. Medha Mahadeshwar (Registration No. AM 143780-4, dtd. 29.05.2013 6. Verification report from the Specified Officer. The Specified Officer vide letter dated 07.11.2024 has submitted verification report i.r.o. list of goods of Rs. 209,67,00,000.00/- to be used for Authorized Operations. The goods as submitted in the list are required for construction development and found fit for authorized operations.

Copies of Developer’s letters dated 05.06.2024 & 11.03.2025 and Specified Officer, Aurum-SEZ letter dated 07.11.2024 are attached.

e. Recommendation: The developer’s proposal for the approval of the procurement list of materials required the for construction of Building IT Tower No. 03/Q3, amounting to Rs. 209,67,00,000.00/- for their Authorized Operations is scrutinized and placed before Approval Meeting for consideration in terms of Rule 12(2) of SEZ Rules, 2006 and MOC&I Instruction No. 50, dated 15.03.2010.

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