IN FORCE SEZ / EOU / FTWZ 2022-10-27

Minutes of the Approval Committee meeting of SEEPZ-SEZ held on 27.10.2022

Document text

File No.S-SEZ-11/11/2021-SEEPZ-SEZ

MINUTES OF THE MEETING OF THE APPROVAL COMMITTEE FOR SEEPZ SEZ HELD UNDER THE CHAIRMANSHIP OF DEVELOPMENT COMMISSIONER ON 27% OCTOBER,2022 THROUGH VIDEO CONFERENCING.

1. Name ofSEZ	:	SEEPZ SEZ
2. Meeting No.	+	aie
3. Date	:	27" October, 2022
Members Present:
incrhelOpe ces)<br>hauhan	t erelapee<br>ommissioner	EEPZ-SEZ.
	Income Tax	IBhawan, Bandra, Mumbai.
mt. Kirti	IDeputy Director	INominee of Directorate of Industries,
4<br>Deshmukh	Inspector	Mumbai.
Bite.W Peebineieer<br>°	Asstt. Commissioner,<br>ustoms	[Nominee atCommissioner ofCustoms,<br>eneral, Air Cargo, Sahar.
Oe

Special Invitee:-

Shri. Anil Chaudhary, Specified Officer, SEEPZ SEZ

Shri. Haresh K. Dahilkar, ADC (New SEZ); Smt. Bridget Joe, EA to DC and Smt. Rekha Nair, Assistant also attended for assistance and smooth functioning of the meeting.

Agenda Item No. 01:- Confirmation of the Minutes of the 167!" Meeting held on 30.09.2022

The Minutes of the meeting held on 30.09.2022 were confirmed with consensus.

Agenda Item No. 02 :- Applicationfor Change in Director and of the Company - M/s. Surana Brothers Designs Pot. Ltd

M/s. Surana Brothers Designs Pvt. Ltd. had submitted the application for Change in Board of Directors of the Company as follows:

LIST OF DIRECTORS

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|||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|List|of|post|change|of the|Directors|
|No.|w.e.f|19.07.2022|
|[Wane|
|of|Director|[Designation]|Name of Partners|
|Surana|Surana|
|Surana|irector|SuranaMrs.|Riddhi a|||
|3.|—|:|Mr.|Naresh|Jagdish|Director|
|Wadhwa|
|*|There|is|change|in|the|list|of Directors|
|Details|of|Pre|&|Post|profit sharing|ratio: -_|
|No.||Name|of|the|Directors|Shares|IName|of the|Directors|hares|
|1|Ars.|Vimaladevi|||lirachand||99.90 %||].|rs.|Vimaladevi}]|99.90 %|
|PB2|r.|Hiten|Harshadraies TenMehta]|0.10%|B.|Pisar.|Hiten|Harshadrai}70.10%|
|A|[Ac]|[<P]|
|-|It|is|seen|that|there|is|a|no|change|in|the profit|sharing|ratio.|

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

Decision:- After deliberation, the Committee approved the proposal for Change in Directors of the company in terms of Instruction no 109 dated 18.10.2021. Further, the Committee also directed the unit to comply with the following safeguards in terms of Instruction no. 109, dated 18.10.2021:-

Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered entity.
Fulfillment of all eligibility criteria applicable, including security clearances etc, by the altered entity and its constituents.
Applicability of and compliance with all Revenue/Company Affairs/SEBI etc. Acts/Rules which regulate issues like capital gains, equity change, transfer, taxability etc.
Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownerships etc. shall be furnished immediately to Member (IT&R), CBDT, Department of Revenue and to the jurisdictional Authority.
The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger demerger,

amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961.
1. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable.

The applicant shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT.
The applicant shall be recognized by the new name or such arrangement in all the records.

Agenda Item No. 03 :- Application received for Change of the Company name from M/s. Stellar Jewelry (A Div of S Narendra) to M/s. Stellar Jewelry

M/s. Stellar Jewelry (A Div of S Narendra) has submitted their application for change of name of the company from M/s. Stellar Jewelry (A Div of S Narendra) to M/s. Stellar Jewelry and submitted all relevant documents with following details :-

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

DETAILS OF PARTNERS BEFORE AND AFTER OF CHANGE OF COMPANY NAME (C/) ----- End of picture text -----

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----- Start of picture text ----- List of Partners of M/s. Stellar Jewelry (A Div of S List of Partners of M/s. Stellar Narendra) Jewelry Sr. Before Name of the Partners Designation After Name ofthe | Designation No. Partners tat: heffalie Amish Jhaveri cn SA, RA Amish Jhaveri Aig;rjunomSaurin SaurinJhaveri Jhaveri Priyanka SaurinArjun Saurin Jhaveri Jhaveri ----- End of picture text -----

***There is no change in the Partners Name after change of name of the company.

O DETAILS OF PROFIT SHARING RATIO/SHAREHOLDINGPATTERN BEFORE AND AFTER CHANGE OF THE COMPANY NAME

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----- Start of picture text ----- List of Partners of M/s. Stellar Jewelry (A Div of S List of Partners of M/s. Stellar Jewelry Narendra) Name of Person & Designation |% of Profit Sharing Name of Person & % of Profit Designation Sharing Amish Rajnikant Jhaveri Amish Rajnikant Jhaveri ----- End of picture text -----

|Saurin Sohil Jhaveri<br>SheffalieAmishJhaveri|a<br>| fae|aeSohilJhaveri<br>ttsAmishJhaveri||
|---|---|---|---|
|Arjun Saurin Jhaveri||Arjun Saurin Jhaveri||
|Yanik Amish Jhaveri||‘anik Amish Jhaveri||
||100%||100%|

**There is a no change in the Profit Sharing Ratio on change of company name

Decision:- After deliberation, the Committee approved the proposal for change of name of the company from M/s. Stellar Jewelry (A Div of S Narendra) to M/s. Stellar Jewelry in terms of MOC&I Instruction no 109 dated 18.10.2021. Further, the Committee also directed the unit to comply with the following safeguards in terms of Instruction no. 109, dated 18.10.2021:-

Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered entity.
Fulfillment of all eligibility criteria applicable, including security clearances etc, by the altered entity and its constituents.
Applicability of and compliance with all Revenue/Company Affairs/SEBI etc. Acts/Rules which regulate issues like capital gains, equity change, transfer, taxability etc.

4, Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownerships etc. shall be furnished immediately to Member (IT&R), CBDT, Department of Revenue and to the jurisdictional Authority.
1. The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger demerger, amalgamation, transfer and ownership etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961.
1. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable.
1. The applicant shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT.
1. The applicant shall be recognized by the new name or such arrangement in all the records.

Agenda Item No. 04 :- Application received from M/s. Ashir Manufacturing LLP for Broad Banding items to be manufactured with revised projection for remaining period of 3 years i.e. 2022-23 to 2024-25.

The Unit had submitted the bread banding application i.r.o. Premix Silver & Alloy with revision of projections for 3 years ie. 2022-23 to 2024-25. Unit representative also conveyed that the proposed broad banding will be used for

manufacturing activity and the excess if any will be sold to other Units as Inter Unit Transfer as there will be no metal loss.

EXISTING APPROVED ITEMS OF MANUFACTURE :-

||(Kgs)|
|---|---|
|Studded Silver Jewellery||
|Plain Gold Jewellery|[10.00|
|Studded Goldjewellery||
|Plain Platinum Jewellery||
|PlatinumMounting<br>io[Sold<br>Finding ————SCSCS~dYCSCSC~«OO<br>a<br>Platinum Finding<br>| 1000.00<br>Studded Platinum Jewellery||
|Plain&StuddedBrass.SteelBaseMetal|Jewellery|

+ Broad Banding of Items:-

Sr.<br>No	Descriptionofthe items tobenewly<br>manufactured	Proposed<br>Capacity	ITC (HS)<br>Classification
		(Kgs)
	PremixSilver&Alloy	1000.00

Projections:-

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|||||||
|---|---|---|---|---|---|
|Sl.|[Particulars|Existing|of 5|
|(No.|years|(approved)||year (approved)|| 2022-23|to 2024-25|
|i.e.|2020-21|to|Le:|(1US$ = Rs.|78.70)|
|2024-25|2022-23|to|
|2024-25|
|Lakhs|
|T.FOB|
|value ofexpons|||__1799.43|
|__97.20]__97.20|_|
|aa)|12351|
|omponents|
|as|raw|
|material|
|esremaking/melting|ee|ee|
|Loan Basis|Form.|Approx|
|Opteron|ame|||||
|aaomponents|>|
|“onsumables|
|profits|to|foreign|collaborates|(ss|
|2|ee|
|ee|
|ee|
|echnicians|
|ofan|a|
|ech.|abroad|
|a|lOi|
|A|13|Forigntrvel|————<d[|aSSS|CCTeeCCC|
|15.|ynny ECBotherpaymen|if|SCTC|

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

There is an increase in the projections on proposed broad banding ofitem.

EMPLOYMENT GENERATION :- C—OMe omen

Decision :- After deliberation, the Committee approved the proposal of M/s. Ashir Manufacturing LLP for Broad Banding of the items with revised projection remaining period for the remaining period of 3 years i.e. 2022-23 to 2024-25 in terms of Proviso Rule 19 (2) of the SEZ Rules, 2006, subject to condition that the allied acts condition required if any, and any other law in force for the said import of items should also be fulfilled at the time of import and also should be in compliance in terms of Instruction no. 91 dt. 28.11.2018 read with DGFT Notification no. 43/20152020 dt. 05.11.2018.

Committee also directed the Unit to furnish the details of the CG import.

Agenda Item No. 05 :- Application received from M/s. Uni-Design Jewellery Pvt Ltd,. Service Unit for Broad Banding items with revised projection for remaining period of 3 years ie. 2022-23 to 2024-25.

The Unit had submitted the broad banding application with revision of projections for 3 years i.e. 2022-23 to 2024-25. Unit representative was asked to justify as to whether there is a demand for diamond grading and photography service. Unit representative admitted that presently they have orders for photography services and they would approach SEEPZ Administration for diamond grading subsequently.

@ EXISTING APPROVED ITEMS OF SERVICE ACTIVITY:-

Description of the items to be manufacture/Service activity |Approved Capacity | No. 01 Services for jewellery product Designing, Computer Aided Not Required for Design (CAD) and other Customer back office Services Service unit @ PROPOSED BROAD BANDING ITEM :-

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||||||||
|---|---|---|---|---|---|---|
|No.|Service|Activity|Capacity|Code|
|(Carat)|
|Service|unit|99831300|
|Projections:-|
|i|
|No.|years|(approved) ||year (approved)|years|
|i.e.|2020-21|to|Le.|2022-23|to|2024-25|
|2024-25|2022-23|to||(1US$=Rs.|78.20)|
|2024-25|
|FOB|Lakhs|
|p.|mportof valueMachinery ofexpons||[| _—-2,172.80[|1,598.80)SSSC—~idSCSCSCSCSYSCSC _1,881.00]2,405.37|
|Somponents|2|ee|
|remaking/melting|as|raw|
|material|
|3|=e|a|a|
|steele|
|‘onsumables|RE|SOA|
|a.profits|to|foreign|collaborates|
|8.ra,[Lumpsum|Knowhowfee|[Ssa|ar|i|aa|
|jp.|SCT|
|10, PesignPayment & offoreign Drawing feeswehniclans| ||SS||———SSCSYSC«|
|iee|
|12.|ech. abroad|
|13|ForignTvelCommissiononexponS|[Ss] SSS|SCCSCS SCC|
|ina|ieee|Ns POR|ee|
|15.|[Anyon ECB other|payment|||CC|

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There is an increase in the projections onproposed broad banding ofitem.

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----- Start of picture text ----- @ EMPLOYMENT GENERATION :- Pp xisting | Proposed | Total ----- End of picture text -----

[Women Pt Decision :- After deliberation, the Committee approved the proposal of M/s. Uni-Design Jewellery Pvt Ltd,. Service Unit for Broad Banding of the item viz. Photography Services only with revised projection for remaining period of 3 years i.e. 2022-23 to 2024-25 in terms of Proviso Rule 19 (2) of the SEZ Rules, 2006, subject to condition that the allied acts condition required if any, and any other law in force for the said import of items should also be fulfilled at the time of import and also should be in compliance in terms of Instruction no. 91 dt. 28.11.2018 read with DGFT Notification no. 43/2015-2020 dt. 05.11.2018.

The Committee also directed the following :-

CCTV provision and mechanism to be created by the Unitholder and shared with the Specified Officer
- SOP guidelines listed by the Specified Officer to be adhered to.

Agenda Item No. 06 :- Monitoring of Performance of M/s. Datamatics Global

Services Ltd, Unit-IT

The unit has submitted the APR for the period 2020-21 duly certified by Chartered Accountant. The export and import data for the period 2020-21 was retrieved from NSDL for cross verification with data submitted by them in the APR and same has been found satisfactory.

Decision:- After deliberation, the Committee noted the performance of the unit for the period 2020-21, as the Unit had achieved positive NFE on cumulative basis in terms of Rule 54 of SF7 Rules 2006.

The Committee also directed :-
- Unit to submit additional BLUT for negative balance in the BLUT. * Specified Officer to examine the space occupied and employment vis-a-vis exports
Unit to clear the outstanding rental ducs immediately

Agenda Item No. 07 :- Monitoring of Performance of M/s. Portescap India Pot Ltd

The unit has submitted the APR for the period 2019-20 duly certified by Chartered Accountant. The export and import data for the period 2019-20 was retrieved from NSDL for cross verification with data submitted by them in the APR and same has been found satisfactory.

Decision:- After deliberation, the Committee noted the performance of the unit for the period 2019-20, as the Unit had achieved positive NFE on cumulative basis in terms of Rule 54 ofSEZ Rules 2006.

The Committee also directed the following -

- Unit to clear the outstanding rental dues immediately
- Unit to execute the sub-lease agreement within 6 months time, failing which action in terms ofSEZ Rules 2006 will be initiated.
Unit to submit additional BLUT for negative balance in the BLUT
- Unit to update on the labour dues * Specified Officer to visit the pantry area and verify as to whether any benefit has been availed i.r.0. Customs/GST i.r.o. the pantry thus occupied and furnish the report

Agenda Item No. 08 :- Monitoring of Performance of M/s. Portescap India Pvt Ltd (DC Motors) The unit has submitted the APR for the period 2019-20 duly certified by Chartered Accountant. The export and import data for the period 2019-20 was retrieved from NSDL for cross verification with data submitted by them in the APR and same has been found satisfactory.

Decision:- After deliberation, the Committee noted the performance of the unit for the period 2019-20, as the Unit had achieved positive NFE on cumulative basis in terms of Rule 54 ofSEZ Rules 2006.

The Committee also directed the following -

- Unit to clear the outstanding rental dues immediately
- Unit to submit additional BLUT for negative balance in the BLUT + Specified Officer to visit the pantry area and verify as to whether any benefit has been availed i.r.o. Customs/GST i.r.o. the pantry thus occupied and furnish the report

Agenda Item No. 09 :- Monitoring of Performance of M/s. Quinnox Consultancy Services Ltd , Unit -I

Decision:- After deliberation, the Committee noted the performance of the unit for the period 2020-21, as the Unit had achieved positive NFE on cumulative basis in terms of Rule 54 ofSEZ Rules 2006.

The Committee also directed the following -

- Unit to clear the outstanding rental dues within a week + Unit to execute the sub-lease agreement within 6 months me i.r.o. unit no. 170C, failing which action in terms ofSEZ Rules 2006 will be initiated.
: Specified Officer to visit the pantry area and verify as to whether any benefit has been availed i.r.o. Customs/GST i.r.o. the pantry thus occupied and furnish the report

Agenda Item No. 10 :- Monitoring of Performance of M/s. Quinnox Consultancy Services Ltd , Unit -II .

The unit has submitted the APR for the period 2020-21 duly certified by Chartered Accountant. The export and import data for the period 2020-21 was retrieved from NSDL. for cross verification with data submitted by them in the APR and same has been found satisfactory.

Decision:- After deliberation, the Committee noted the performance of the unit for the period 2020-21, as the Unit had achieved positive NFE on cumulative basis in terms of Rule 54 ofSEZ Rules 2006.

The Committee also directed the following -
Unit to clear the outstanding rental dues within a week.
: Specified Officer to visit the pantry arca and verify as to whether any benefit has been availed i.r.o. Customs/GST i.r.o. the pantry thus occupied and furnish the report

Agenda Item No. 11 :- Monitoring of Performance of M/s. Quinnox Consultancy Services Ltd , Unit -II/

Decision:- After deliberation, the Committee noted the performance of the unit for the period 2020-21, as the Unit had achieved positive NFE on cumulative basis in terms of Rule 54 of SEZ Rules 2006.

The Committee also directed the following -

- Unit to clear the outstanding rental dues within a week. : Specified Officer to visit the pantry area and verify as to whether any benefit has been availed i.r.o. Customs/GST i.r.o. the pantry thus occupied and furnish the report

Agenda Item No. 12:- Monitoring of Performance- M/s. Sidd’s Jewels India LLP

Decision :- After deliberation. the Committee noted the performance of the unit for the period 2020-21, as the unit has achieved positive NFE on cumulative basis in terms of Rule 54 of SEZ Rules. 2006.

The Committee also directed :-

Unit to pay the outstanding outstanding rental dues within 10 days.
- Unit to execute the Sub-Lease agreement within 6 months, failing which action in terms ofSEZ Rules 2006 will be initiated.
: Specified Officer to initiate action for issuance of Show Cause Notice for Delay in submission of APR.
Specified Officer to follow up with the Unit for clearance of pending foreign exchange realization.

Agenda Item No. 13:- Monitoring of Performance- M/s. Trigyn Technologies Ltd

The unit has submitted the APR for the period 2021-22 duly certified by Chartered Accountant. The export and import data for the period 2021-22 was retrieved from NSDL for cross verification with data submitted by them in the APR and same has been found satisfactory.

Decision :- After deliberation, the Committee noted the performance of the unit for the period 2021-22, as the unit has achieved positive NFE on cumulative basis in terms of Rule 54 of SEZ Rules, 20006.

Agenda Item No. 14:- Monitoring of Performance- M/s. House of Code

The Committee also directed Unit to clear the outstanding rental dues of Rs. 3,89,671/- as on 15.10.2022 immediately

Agenda Item No. 15:- Monitoring of Performance- M/s. Infinia Jewel Designs LLP

Decision :- After deliberation, the Committee noted the performance of the unit for the period

2021-22. as the unit has achieved positive NF. on cumulative basis in terms of Rule 54 of SEZ Rules, 2006.

The Committee also directed:-

Unit to pay the outstanding outstanding rental dues within 10 days.
- Unit to execute the Sub-Lease agreement within 6 months failing which achon in terms of SEZ Rules 2006 will be initiated.
Unit to submit additional BLUT for negative balance in the BLUT

Agenda Item No. 16:- Monitoring of Performance- M/s. Enchanted Export LLP

Decision :- After deliberation, the Committee noted the performance of the unit for the period 2019-20, as the unit has achieved positive NFE on cumulative basis in terms of Rule 54 of SEZ Rules. 2006.

The Committee also directed Unit to clear the outstanding rental dues immediately.

Agenda Item No. 17:- Monitoring of Performance- M/s. Health Prime Services (India)

Pvt. Ltd

Decision :- After deliberation. the Committee noted the performance of[the][unit][for][the][ period] 2021-22, as the unit has achieved positive NFE on cumulative basis in terms of Rule 54 of SEZ Rules, 2006.

The Committee also directed Unit to clear the outstanding rental dues immediately.

Agenda Item No. 18:- Monitoring of Performance- M/s. Pretty Jewellery Pot. Ltd.

The unit has submitted the APR for the period 2020-21 duly certified by Chartered Accountant. The export and import data for the period 2020-21 was retrieved from NSDL for

cross verification with data submitted by them in the APR and same has been found satisfactory.

Decision :- After deliberation, the Committee noted the performance of[the][unit][for][the][ period] 2020-21, as the unit has achieved positive NFE on cumulative basis in terms of Rule 54 of SEZ Rules, 2006.

The Committee also directed:-

Specified Officer to initiate action for issuance of Show Cause Notice
for Delay in submission of APR.
Unit to clear pending foreign exchange realization by Dec. 2022,
failing which Specified Officer to initiate action by January 2023.

Agenda Item No. 19:- Monitoring of Performance- M/s. Praxis Interactive Services Pot. Ltd.

Decision :- After deliberation, the Committee noted the performance of the unit for the period 2020-21, as the unit has achieved positive NFE on cumulative basis in terms of Rule 54 of SEZ Rules, 2006.

The Committee also directed the Unit to pay outstanding rental dues

within one week.

Agenda Item No. 20:- Monitoring of Performance- M/s. Rosy Jewellery Exports Pot. Ltd.

Decision :- After deliberation, the Committee deferred the performance of the unit for the period 2020-21, as the Unit representative did not appear for the Approval Committee meeting..

The Committee also directed:-

Unit to pay the outstanding rental dues immediately.
Unit to execute the Sub-Lease agreement within 6 months time, failing which action will be initiated in terms of SEZ Rules 2006.
: SO to initiate action on issuance of Show Cause Notice for delay in submission of APR.
Specified Officer (Audit) to clear the audit objection.
- Specified Officer to examine the space occupied and employment vis-a-vis exports

Agenda Item No. 21:- Monitoring of Performance- M/s. Suashish Diamonds Ltd.

Decision :- A fier deliberation, the Committee noted the performance of the unit for the period 2021-22. as the unit has achieved positive NFE on cumulative basis in terms of Rule 54 of SEZ Rules, 2006.

Agenda Item No. 22:- Monitoring of Perforimance- M/s. Trio Jewels Pvt. Ltd.

Agenda Item No. 23:- Monitoring of Performance- M/s. Sundaram Jewellery

The Committee also directed the Unit to pay outstanding rental dues immediately.

The Meeting ended with the vote of thanks to the Chair.

Signed by Shri. Shyam Jagannathan Date: 09-11-2022 12:18:22 Reason: Approved

Chairperson-cum-Development Commissioner, SEEPZ SEZ.

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