IN FORCE SEZ / EOU / FTWZ 2023-03-31

Minutes of the Approval Committee meeting of SEEPZ-SEZ held on 31.03.2023

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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 gS? MARCH, 2023 THROUGH VIDEO CONFERENCING.

  1. Name of the SEZ : SEEPZ-SEZ 2. Meeting No. 3 1730d 3. Date : 31st March, 2023

Members Present:

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||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|‘ies.|Name|of Members|Designation|Organization|
|1|hri.|C.|P.|S.|Jt.|Development|SEEPZ-SEZ.|
|hauhan|Commissioner,|
|hri.|Harmesh|Lal|| Joint|Commissioner|[Nominee|of Income|Tax|office,|
|2|Income|Tax|]|autilya|Bhawan,|Bandra,|
|Mumbai.|
|3||DharBel. HEISEPandey|Deputypuly|DGFT|INomineece|of the DGFT,diciaaeMumbai*|
|4|mt.|Kirti|Deputy|Director|[Nominee|of Directorate|of|
|IDeshmukh|Inspector|Industries,|Mumbai.|
|5|(Dr.|M.|Prabhakar|Knath,|:|Caniixciaiee|>|NomineeICustoms,ofGeneral, CommissionerAir|Cargo,of|
|ustoms|ahar.|
|hri.|Indrajeet|.|.|:|
|IDeshmukh|Field|Officer|Nominee|of MPCB,|Mumbai.|
|Special|Invitee:-|
|1.|Shri.|Anil|Chaudhary|:|Specified|Officer,|SEEPZ-SEZ|
|Smt.|Bridget|Joe,|EA|to|DC/ADC|i/c(SEEPZ-SEZ),|Shri.|Haresh|K.|Dahilkar,|ADC|
|(New-SEZ),|Shri.|Hanish|Rathi,|ADC|(New-SEZ),|Dr.|Vijaykumar|Rohidas|Londe,|
|ADC|(New-SEZ)|,|Smt.|Kiran|Vanker,|ADC|(EOU),|Smt.|Rekha|Nair,|Assistant|and|
|Shri.|Ravindra|Kumar,|Assistant|also|attended|for|assistance|and|smooth|
|functioning|of the|meeting.|

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Agenda Item No. 01: Confirmation of the Minutes of the 1724 Meeting held on 27.02.2023

The Minutes of the meeting held on 27.02.2023 were confirmed with consensus.

dedalt

Agenda Item No. 2 : Application received for Change in Shareholding Pattern of M/s. Course 5 Intelligence Limited

M/s. Course 5 Intelligence Limited had submitted the application for Change in Shareholding Pattern of the company and the details are as follows:

LIST OF SHAREHOLDING PATTERN

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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|company|(as|per|this|office|letter|datedjof the|Company|as|on|
|08.08.2022)|
|Capital|Capital|
|Technologies|Pvt.|echnologies|
|Ltd.|Pvt.|Ltd.|
|Technoserve|LLP|echnoserve|
|LLP|
|Private|Trust|Private|Trust|
|Sheila|Mittal|||8|||0.00|Bheila Mittal _[|8|||0.00_||
|Ramesh|Mittal|||8|||0.00 _fRamesh|Mittal|||8|| _0.00_||
|Prashant|Bhatt_||87,286|||0.09|Prashant Bhatt||87,286|||0.09 _||
|Eswaran|Eswaran|
|Pda|
|Kazan|||7,90,000_ [0.19|

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  • It seen from above there is change in shareholding pattern of the company.

LIST OF DIRECTORS

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|||
|---|---|
|No.|Directors|
|Director|
|Director|
|Director|

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  • Pp7 opesesikas Khemani EeAdditional 09.12.2021pees ee00065941 a aimon Chadwick Additionala09.12.2021 09411081 * Itis seen from above, that there is no change in Directors.

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

  1. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered entity.

  2. Fulfilment of all eligibility criteria applicable, including security clearances etc, by the altered entity and its constituents.

  3. 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 ownership etc. shall be furnished immediately to Member (IT&R), CBDT, Department of Revenue and to the jurisdictional Authority.

  5. 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.

  6. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable.

  7. The applicant shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT.

  8. The applicant shall be recognized by the new name or such arrangement in all the records.

Agenda Item No. 3 : Application for Change of Company Name from M/s. Indigo Jewellery (India) Mfg. Pvt. Ltd. to M/s. S.Vinodkumar Diamonds Pvt. Ltd.

The unit has submitted the application for Change of Company Name from M/s. Indigo Jewellery (India) Mfg. Pvt. Ltd. to M/s. S.Vinodkumar Diamonds Pvt. Ltd. approved vide NCLT order dated. 28.07.2022 in terms of MOC&l Instruction No. 109 dated 18.10.2021.

A. LIST OF DIRECTORS

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v?

|| r. SamirVinodlal Shah<br>2<br>| r.ManishSumatilalShah<br>Amish Vinod Shah|| r. SamirVinodlal Shah<br>2<br>| r.ManishSumatilalShah<br>Amish Vinod Shah|| r. SamirVinodlal Shah<br>2<br>| r.ManishSumatilalShah<br>Amish Vinod Shah|| r. SamirVinodlal Shah<br>2<br>| r.ManishSumatilalShah<br>Amish Vinod Shah||00102577<br>00102631<br>00102657|00102577<br>00102631<br>00102657|
|---|---|---|---|---|---|---|
||inod|Dhudalal Shah|||00102710||
||M/s. S.Vinodkumar Diamonds Pvt. Ltd]|||M/s. S. VinodkumarDiamonds Pvt.|||
|||(Before Merger)||Ltd|(After Merger)||
|Sr.||Name ofthe |Designation|||Name ofthe||Designation|DIN|
|No.||Directors|||Directors|||
|1||Mr. Vinod|Whole time||00102710/Mr. Vinod||Whole time||00102710|
||IDhudalal|Director||IDhudalal|Director||
||hah|||Shah|||
|2||Mr. Kamlesh | Whole time|||00102687|Mr. Kamlesh||| Whole time|00102687|
||IDhudalal|Director||IDhudalal|Director||
||hah|||Shah|||
|3||Mr. Amish|hole time|00102657||Mr. Amish|hole time|00102657|
||inod Shah|__‘|Director||inod Shah|[Director||
|4||Mr. Manish|hole time|00102631|Mr. Manish|hole time|00102631|
||umatilal|Director||umatilal|Director||
||hah|||Shah|||
|5||Mr. Samir|Director|00102577<br>|Mr. Samir||Director|00102577|
||inodlal|||inodlal|||
||hah|||Shah|||
||Mr. Mohit|Whole time|}09130202|Mr. Mohit||Whole time|{09130202|
||IKKamlesh|Director||Kamlesh|Director||
||Shah|||Shah|||

It is seen from the above that there is change in the Directors of the unit on merger.

B. SHAREHOLDING PATTERN

M/S. INDIGO JEWELLERY (INDIA) MFG. PVT. LTD

LIST OF EQUITY SHAREHOLDERS “CLASS-I”

Sr. No. Name of Shareholders No. of Equity Amount per Share Share (Rs.)

  1. S.Vinodkumar International Pte. 879 10 Ltd Samir V. Shah FTOTrrt—(OCOTTTCTCCYT

LIST OF EQUITY SHAREHOLDERS “CLASS-II”

Sr. No. Name of Shareholders No. of Equity Amount per Share Share (Rs.) Manish 5. Shah 1,07,250 Amish V. Shah 1,38,450 Vinod D. Shah 48,360 Kamlesh D. Shah 21,840 Samir V. Shah [6._|___Meenaben K. Shah 8,450 7. S.Vinodkumar International Pte. 21,975 10 Ltd id 7s

LIST OF PREFERENCE SHAREHOLDING

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----- Start of picture text -----<br> Name of Shareholders | No. of Equity Share | Amount per Share (Rs.)<br>Manish S. Shah<br>Samir V.Shah [960<br>ee ee 2,000 —~«|nnn10~—OSCS—S<br>----- End of picture text -----<br>

2. M/S. S.[VINODKUMAR][DIAMONDS][PVT.][LTD][(BEFORE][MERGER)]

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||||||||||
|---|---|---|---|---|---|---|---|---|
|Sr.||Name|of the|Shareholder|INo|of Shares||Face Value|Per|of|
|No.|Share|(3)|Shares|
|1|.|Vinodkumar|International|49,00,000|10|50.00%|
|Pte.|Ltd|
|inod|D.|Shah|16,95,400|17.30%|
|a|ina V.|Shah|5,88,000|6.00%|
|S||anish|S.|Shah|4,90,000|5.00%|
|||ansaben V. Shah|245,000|2.50%|

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a, anjulaben S. Shah 2,45,000 2.50%
a <br>ue eenaben K. Shah<br> onaliA.Shah<br>mruti M. Shah 2,45,000<br>2,45,000<br>2,45,000 2.50%<br>2.50%<br>2.50%
amirV.Shah 2,45,000 2.50%

M/S. S.VINODKUMAR DIAMONDS PVT. LTD (AFTER MERGER)

||<br>Sr.|t—‘—si*@CY<br> [Name ofthe|Class IEquityShare<br>INo ofShares |Face<br>of|Class IEquityShare<br>INo ofShares |Face<br>of|Class IEquityShare<br>INo ofShares |Face<br>of|Class IIEquity<br>INo of|EquityShare<br>Face<br>of|EquityShare<br>Face<br>of|
|---|---|---|---|---|---|---|---|
|No.|Shareholder||alue|Shares||Shares|alue|Shares|
||||Per|||Per||
||||Share (3)|||Share (3)||
|1|. Vinodkumar|{50,59,978|10|50.00%||10|0.00%|
||International Pte.|||||||
||td|||||||
|inodD.Sha**h**<br>:<br>V.Sha<br>P| anish S.Shah||**__**{17,82,662 <br>[5,88,000 <br> |5,21,996|o**e** <br> l<br>| 20|a251,258<br>casa <br> ple%|251,258po<br> soca <br>26,034|po1.80%<br> ‘te ce<br>4.10%||
||Meenaben K.|2,74,436|10|2.71%|(29,714|10|1.40%|
||hah|||||||
||IHansaben V.|245,000|10|2.42%||10|0.00%|
||hah|||||||
|pfenah_pasom [TO <br>10<br>|Majulaben S.<br>2,,45,000<br>10||||pea[po<br>2.42%|[po<br>Fo<br>10<br>0.00%|||
||hah|||||||
||otal|1,01,19,956||100.00|21,29,036||100.00|

It is seen from the above that there is change in the Shareholding Pattern before and after Change of Name of the Company based on the NCLT order dated 28.07.2022.

4

Decision : After deliberation, the Committee approved the proposal for Change of Name on Merger of M/s. Indigo Jewellery (India) Mfg. Pvt. Ltd. to M/s. S. Vinodkumar Diamonds Pvt. Ltd., approved vide NCLT order dt. 28.07.2022 and Change in the Directors and Shareholding Pattern in terms of MOC&I Instruction No. 109 dated 18.10.2021 subject to following conditions : 1. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered entity.

  1. Fulfilment of all eligibility criteria applicable, including security clearances etc, by the altered entity and its constituents.

  2. Applicability of and compliance with all Revenue/Company Affairs/SEBI etc. Acts/Rules which regulate issues like capital gains, equity change, transfer, taxability etc.

  3. Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT&R), CBDT, Department of Revenue and to the jurisdictional Authority.

  4. 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.

  5. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable.

  6. The applicant shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT.

  7. The applicant shall be recognized by the new name or such arrangement in all the records.

Agenda Item No. 4: Application for Additional List of Services required for their Authorized Operations of M/s. QG Technologies (India) Pvt. Ltd

The unit requested for Additional List of Services which are not covered under default list of services as per details given below:

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----- Start of picture text -----<br> Sr. Additional Services. Justification<br>No.<br>1 atering/Hospitality | Services[fhese Services are required in the cases 0<br>(within SEEPZ-SEZ ompany events/business meetings.<br>----- End of picture text -----<br>

Decision:-

After deliberation, the Committee approved the following service required for authorized operations by the unit:

  1. Catering/Hospitality Services (within SEEPZ-SEZ).

Agenda Item No. 5: Monitoring of Performance of M/s. Jewelmark India Pvt. Ltd for the part APR of the 3rd year i.e from 01.04..2022 to 17.01.2023

The unit has submitted the APR for the period 2022-23 duly certified by Chartered Accountant. The export and import data for the period 2023-23 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 2022-23, as the unit had achieved positive NFE on cumulative basis in terms of Rule 54 of SEZ Rules 2006.

The Committee also directed the unit to clear the outstanding rental dues within one month.

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

4, Chairpersqn-cumDevelopment Commissioner

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