Minutes of the Approval Committee meeting of SEEPZ-SEZ held on 28.04.2023

MINUTES OF THE MEETING OF THE APPROVAL COMMITTEE FOR SEEPZ SEZ HELD UNDER THE CHAIRMANSHIP OF DEVELOPMENT COMMISSIONER ON 28th April, 2023 THROUGH VIDEO CONFERENCING.

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1. Name of the SEZ : SEEPZ-SEZ
2. Meeting No. : 174th
3. Date : 28th April, 2023 Members Present: Sr. No. Name of Members Designation Organization 1 Shri. C. P. S. Chauhan Jt. Development Commissioner, SEEPZ-SEZ. 2 Shri. Harmesh Lal Joint Commissioner Income Tax Nominee of Income Tax office, Kautilya Bhawan, Bandra, Mumbai. 3 Shri. Himanshu Dhar Pandey Deputy DGFT Nominee of the DGFT, Mumbai. 4 Smt. Kirti Deshmukh Deputy Director Inspector Nominee of Directorate of Industries, Mumbai. 5 Dr. M. Prabhakar Asstt. Commissioner, Customs Nominee of Commissioner of Customs, General, Air Cargo, Sahar. Special Invitee:-
4. 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), Smt. Kiran Vanker, ADC (EOU), Smt. Rekha Nair, Assistant, Shri. Bhandari, Assistant and Shri. Ravindra Kumar, Assistant also attended for assistance and smooth functioning of the meeting. Agenda Item No. 01: Confirmation of the Minutes of the 173rd Meeting held on 31.03.2023 The Minutes of the meeting held on 31.03.2023 were confirmed with consensus. File No.S-SEZ-11/11/2021-SEEPZ-SEZ

Agenda Item No. 2 : Application for change in of Board of Directors of M/s. Thirdware Global Services M/s. Thirdware Global Services had submitted the application for Change in Board of Directors of the company and the details are as follows: • The details of the Directors and shareholding pattern are as under : LIST OF DIRECTORS Sr. No. List of pre change of the Directors of the company List of post change of the Directors of the company Name of Director Designation Name of Partners Designation 1. Mr. Bhavesh Shah Director Mr. Ram Krishna Rao Padal Director 2. Mr. Nalin Mittal Director Mr. Nalin Mittal Director 3. Mr. Jagdish Mitra Director Mr. Jagdish Mitra Director LIST OF SHAREHOLDING PATTERN Details of Pre & Post profit sharing ratio : - Sr. No. Name of Shareholder Shares % of Shares Sr No. Name of Shareholder Shares % of Shares 1. Tech Mahindra Limited 4700800 100 %

1. Tech Mahindra Limited 4700794 100%

Gautam Shirali 1 0.00% 2. Gautam Shirali 1 0.00% 3. Vivek Satish Agrawal 1 0.00% 3. Vivek Satish Agrawal 1 0.00% 4. Heena Nikhil Shah 1 0.00% 4. Heena Nikhil Shah 1 0.00% 5. S Raji Reddy 1 0.00% 5. S Raji Reddy 1 0.00% 6. Vineet Vij 1 0.00% 6. Vineet Vij 1 0.00% 7. Aniruddha Vinayak Gadre 1 0.00% 7. Aniruddha Vinayak Gadre 1 0.00% Total 4700800 100 % Total 4700800 100 % Decision : After deliberation, the Committee approved the proposal for Change in Board of Directors 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. Fulfillment 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,
7. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable.
8. The applicant shall furnish details of PAN and jurisdictional assessing officer of the unit to CBDT.
9. The applicant shall be recognized by the new name or such arrangement in all the records. Agenda Item No. 03: Application for Additional List of Services required for their Authorized Operations of M/s. Lumina Datamatics Limited The unit has submitted application for Additional List of Services which are not covered under default list of services as per details given below: Sr. No. List of Services Justification 1 Leasing/Rental Services of Goods They take the systems from vendor on rental basis and do the rent payment on monthly basis for their project purpose. 2 Licensing services for the right to use computer software and databases. It involves licensing services, that they take license from the vendor to use computer software and database as per client requirement. 3 Leasing or rental services with or without operator This services includes leasing, rental or hiring services concerning all kinds of services or software is used for company project purpose only. Decision:- After deliberation, the Committee approved the list of services mentioned at Sr. No. 1 & 2 in terms of Instruction no. 94 dated 08.05.2019 and deferred the approval of service mentioned at Sr. No. 3 of the above table as the Unit Representative could not clarify on the classification code and utility of services required for the authorized operations. Agenda Item No. 4 : Application for Mid-term Revision for remaining period of 3 years i.e. 2022-23 to 2024-25 of the M/s. Nabhi Enterprises.

M/s. Nabhi Enterprises had submitted the application for Mid-term Revision for remaining period of 3 years i.e. 2022-23 to 2024-25 due to increase in the Projections on additional import & export and the details are as under: Projections:- (Figs. Rs. in lakhs)

Sr. No. Particulars Approved Projection For five year 2020-21 to 2024-25 Approved projection for 3 Year i.e. 2022- 23 to 2024-25 Proposed for Mid –term Revised Projection for 3 Year 2022-23 to 2024-25 (US$ 1 = Rs. 81.90/-) (Rs. In Lakhs) (Rs. In Lakhs) (Rs. In Lakhs) (US$ ‘000’) 1. FOB value of Exports 26,050.000 20,750.00 31,000.00 37851.00 2. Import of Machinery 73.00 10 93.00 113.55 3. Import of Raw Material and components 17,831.23 14203.38 26350.00 32173.38 4. Unused /used, new, broken jewellery for repair / third party repair, Remaking and remelting and other Input etc.

1550.00 1892.55 5. Import of Spares & Consumables 72.29 57.59 155.00 189.26 6. Repatriation of dividends and profits to foreign collaborates

Royalty

Lumpsum Know how fee

Design & Drawing fees

10. Payment on training of Indian tech. Abroad

Commission on export

Foreign Travel 27.53 17.00 46.50 56.78 13 Amount of interest to be paid on ECB

14 Any other payment

Total (2 to 14) 18,004.00 14287.03 28,194.50 34425.52 16. NFE (1-15) 8046.00 6462.03 2805.50 3452.52 Decision:- After deliberation, the Committee approved the proposal of M/s. Nabhi Enterprises for mid-term projection of 3 years i.e. 2022-23 to 2024-25 in terms of Rule 19 (2) of the SEZ Rules 2006.

Agenda Item No. 05 :- Application received from M/s. Fusion Jewelry Mfg. Co.Pvt. Ltd., Unit No.32, SDF-I, SEEPZ-SEZ, for re-location i.e. (from SDF-1 to NEST-01) with broad banding, capacity enhancement and revised projection for balance period of 2 years i.e. 2023- 24 & 2024-25. The unit had submitted the application for re-location i.e (from SDF- I to NEST -01) admeasuring an area of 1135.22 Sq.mtr with broad banding, capacity enhancement and revised projection for balance period of 2 years i.e. 2023-24 & 2024-25 in terms of Rule 19 (2) of SEZ Rules 2006 and the details are as indicated below :- DETAILS OF ITEMS OF MANUFACTURES & CAPACITY ENHANCEMENT ON ADDITIONAL SPACE :- Sr. No Items of Manufacture Existing Approved Capacity (PCS) Additional Capacity Total Capacity 1 Studded Gold Jewellery, Plain/studded with diamond & Precious & Semi Precious Stones Gold/Platinum/Silver Jewellery 52,000 70,000 1,22,000 2 Brass Jewellery Studded with CZ & Semi Precious Colour Stones 2000 5,000 7,000 3 Copper Jewellery Studded with CZ & Semi Precious Colour Stones 2000 5,000 7,000 4 Stainless steel Jewellery studded with CZ & Semi- Precious Colour Stone 2000 5,000 7,000 5 Palladium Jewellery Studded with CZ & Semi- Precious Colour Stone 2000 5,000 7,000 6 Gold & Silver Jewellery studded with diamond & MOP

2,000 2,000 Item at Sr. No. 6 is an additional item under broad banding on additional location for which comments are awaited from Specified Officer. Projections :-

Sl. No. Particulars Existing 5 years (approved) 2020-21 to 2024-25 Existing 2 years (approved) 2023-24 & 2024-25 Proposed for 2 years 2023-24 & 2024-25 (1US$ = Rs. 78) Rs. In Lakhs Rs. In Lakhs Rs. In Lakhs US'000 1. FOB value of exports 12500 5600 11000 14102.56 2. Import of Machinery 21.25 9.5 34.5 44.23 3. Import of Raw Material and components 8623.90 3830 7610 9756.41 4. Import of Spares & Consumables 7 3.05 11.05 14.17 5. Unused Jewellery for Repair/Remaking Return

Repatriation of dividends and profits to foreign collaborates

Royalty

Lumpsum Know how fee

Design & Drawing fees

Payment of foreign technicians

Payment on training of Indian tech. abroad

Commission on export

13 Foreign Travel

10 12.82 14. Amount of interest to be paid on ECB

Any other payment

Total (2 to 15) 8652.15 3842.55 7665.55 9827.63 17. NFE (1-16) 3847.85 1757.45 3334.45 4274.93 Decision: After deliberation, the Committee approved the proposal of the unit for re- location i.e (from SDF- I to NEST -01) admeasuring an area of 1135.22 Sq.mtr (Old area 488 sq. mtr + additional area 647.22 sq. mtr.) with capacity enhancement and revised projection for balance period of 2 years i.e. 2023-24 & 2024-25 in terms of Rule 19 (2) of SEZ Rules 2006. As regards proposed broad banding item mentioned at Sr. No. 6 above viz. Gold & Silver Jewellery studded with diamond & MOP, Committee approved the proposal subject to comments and conditions stipulated therein based on SO’s report. Committee also directed that the final allotment letter and the possession receipt will be issued only after the completion of the construction of NEST-01 with all statutory compliances.

Agenda Item No. 06: Application received from M/s. Chandra Jewels Private Limited, Unit no. 12, SDF-I for Re-Location i.e. from SDF-I to NEST-01 with a total area is 925.18 sq.mtrs (Old area 600 sq. mtr.+ additional area 325.18 sq. mtr.) with capacity enhancement and revision of projection for 5 years. The unit has submitted the application for re-location i.e. from SDF-I to NEST-01 with a total area is 925.18 Sq.mtrs (Old area 600 sq. mtr. + additional area 325.18 sq. mtr.) with capacity enhancement and revision of projection for 5 years. • DETAILS OF ITEMS OF MANUFACTURES & CAPACITY ENHANCEMENT ON ADDITIONAL SPACE Items proposed to be manufactures Approved Capacity Proposed Capacity Total Proposed Capacity Combination Jewellery of Diamond/CZ or other Precious/Semi Precious Stone 1,00,000 30,000 1,30,000 Cubic Zircona Stones Studded on Precious Metals 2,00,000 15,000 2,15,000 Plain/Studded Platinum Jewellery 20,000 7,000 27,000 Plain/Studded Silver Jewellery 2,00,000 20,000 2,20,000 Studded /Plain Gold Jewellery 7,00,000 50,000 7,50,000 Projections:- (Figures Rs. In lakhs)

Sr. No. Particulars Existing Projection of 5 years (approved) (US$=Rs.75) Additional Projection on Additional Space of 5 years ( US$=Rs. 82) Total Projections Rs. In Lakhs Rs. In Lakhs Rs. In Lakhs US$’00

1. FOB value of exports 1,30,000.00 20,000.00 150000.00 182926.82
2. Import of Machinery 285.00 35.00 320.00 390.24
3. Import of Raw Material and components 52,000.00 60000.00 73170.73
4. Import of Spares & Consumables 7,800.00 1,000.00 8800.00 10731.70
5. Repatriation of dividends and profits to foreign collaborates

6. Royalty

7. Lumpsum Know how fee

8. Design & Drawing fees

9. Payment of foreign technicians

10. Payment on training of Indian tech. abroad

11. Commission on export

12. Foreign Travel

35.00 35.00 42.68 14. Amount of interest to be paid on external commercial borrowing/deferred payment credit (specify details)

15. Total ( I to IX) 60,085.00 9,070.00 69155.00 84335.36
16. Net Foreign Exchange earnings in five year 69,915.00 10,930.00 80845.00 98591.46 Decision: After deliberation, the Committee approved the proposal of the unit for re- location i.e. from SDF-I to NEST-01 with a total area is 925.18 Sq.mtrs (Old area 600 sq. mtr+ additional area 325.18 sq. mtr) with capacity enhancement and revision of projection for 5 years. Committee also directed that the final allotment letter and the possession receipt will be issued only after the completion of the construction of NEST-01 with all statutory compliance.

Agenda Item No. 07 :- Application received from M/s. Jewel NXT, Unit No. 30 & 31, SDF-I, SEEPZ-SEZ, for re-location i.e. (SDF-1 to NEST-01) with Capacity Enhancement and Revised Projection for the period of 5 years i.e. 2022-23 to 2026-27. The unit had submitted the application for re-location i.e (from SDF- I to NEST -01) admeasuring an area of 255.41 Sq.mtr with Capacity Enhancement with revised Projection for remaining period of 5 years i.e. 2022-23 to 2026-27 in terms of Rule 19 (2) of SEZ Rules 2006 and the details are as indicated below :- DETAILS OF ITEMS OF MANUFACTURE AND ITS CAPACITY ENHANCEMENT OF ITEMS : Items of Manufacture Existing Capacity (Pcs/Cts.) Proposed Capacity (Pcs/Cts.) Total Capacity (Pcs/Cts.) Manufacture and Export of Gold/Silver/Palladium,/Silver, Stainless steel, Brass Copper and combination Jewellery, Gold plated jewellery, Mounting and Model Either plain Jewellery 4,00,000.00 4,00,000.00 8,00,000.00 Or Studded with Cut & Polished Diamond, Precious & Semi Precious Stones , Cubic Zirconia, color Stone Acamns Pearls etc. Total 4,00,000.00 4,00,000.00 8,00,000.00 Projections :- (Figures Rs. In lakhs)

Sl. No. Particulars Existing approved 5 years i.e. 2022-23 to 2026-27 (1US$ = Rs. 82.00/-) Additional Projection of Additional Space of 5 years Proposed for 5 years 2022-23 to 2026-27 (1US$ = Rs. 82.00/-) Rs. In Lakhs Rs. In Lakhs Rs. In Lakhs US'000 1. FOB value of exports 80,000.00 13,000.00 93,000.00 1,13,414.63 2. Import of Machinery 240.00 39.00 279.00 340.24 3. Import of Raw Material and components & consumables 47,600.00 7,735.00 55,335.00 67,481.70 4. Remaking Jewellery (used/Unused Jewelry, defective, semi-finished etc.) 3200.00 4240.00 7440.00 9,093.17 5. Third Party Repairs/ Remaking 3200.00

3,200.00 3902.43 6. Import of Spares & Consumables Unused Jewelry for repaired/remaking return 1600.00 260.00 1860.00 2268.29 7. Repatriation of dividends and profits to foreign collaborates

Royalty

Lumpsum Know how fee

10. Design & Drawing fees

11. Payment on training of Indian tech. abroad

12 Commission on export etc.

13. Foreign Travel 40.00 6.50 46.50 56.70
14. Amount of interest to be paid on ECB/DCB

15. Services 40.00 6.50 46.50 56.70
16. Any other payment 80.00 13.00 93.00 113.41
17. Total (2 to 17) 56,000.00 9,100.00 65,100.00 79,390.24 18 NFE (1-15) 24,000.00 3,900.00 27,900.00 34,024.39 Decision: After deliberation, the Committee approved the proposal of the unit for additional location i.e (SDF- I to NEST -01) admeasuring an area of 255.41 Sq.mtr with

Capacity Enhancement with Revised Projection for remaining period of 5 years i.e. 2022-23 to 2026-27 in terms of Rule 19 (2) of SEZ Rules 2006. Committee also directed that the final allotment letter and the possession receipt will be issued only after the completion of the construction of NEST-01 with all statutory compliance. Agenda Item No. 08 :- Application for Change of Entrepreneurship and transfer of assets and liabilities from M/s. Thirdware Global Services into M/s. Diatrends Jewellery Pvt. Ltd. The unit had submitted the application for Change of Entrepreneurship and transfer of assets and liabilities from M/s. Thirdware Global Services into M/s. Diatrends Jewellery Pvt. Ltd and provided the following details :- • The details of Directors of both the firms are as follows:- LIST OF DIRECTORS OF THE COMPANY :- M/s. Thirdware Global Services M/s. Diatrends Jewellery Pvt. Ltd. Name Designation Name Designation Mr. Ramkrishna Rao Padal Director Mr.Sunit Sanjay Kothari Director Mr. Nalin Mittal Director Mr.Kunal Yatish Mehta Director Mr. Jagdish Mitra Director Mr. Yatishchandra Bhogila Mehta Director

Mr. Sanjay Anandlala Kothari Director LIST OF SHAREHOLDING PATTERN OF THE COMPANY :- M/s. Thirdware Global Services M/s. Diatrends Jewellery Pvt. Ltd. Name of the Share holders No. of shares % of Share Name of the Share holders No. of shares % of Share Tech Mahindra Limited 4700794.00 99.99987 % Mr.Sunit Sanjay Kothari 5,00,000 50 % Gautam Shirali 1.00 0.000021 % Mr.Kunal Yatish Mehta 2,50,000 25 % Vivek Satish Agarwal 1.00 0.000021 % Mrs. Anuja Dhaval Mehta 2,50,000 25 % Heena Nikhil Shah 1.00 0.000021 %

S Raji Reddy 1.00 0.000021 %

Vineet Vij 1.00 0.000021 %

Aniruddha Vinayak Gadre 1.00 0.000021 %

Total 4700800.00 100 % Total 10,00,000.00 The detailed projections onf taking over of assets & liabilities are as under: (Figures Rs. In lakhs) Sr. No. Particulars M/s. Thirdware Global Services Approved for 5 years 2019-20 to 2024-25 M/s. Diatrends Jewellery Pvt. Ltd Proposed for 5 years 2022-23 to 2026-27 as per Rule 74 A (1US$=Rs. 81.10) Rs. In Lakhs US'000 Rs. In Lakhs US'000 1. FOB value of exports 18500.00 26,428.57 82,070.00 1,01,196.05 2. Import of Machinery 72.00 214.29 375.00 462.39 3. Import of Raw Material and components

57,449.00 70,837.24 4. Import of re-making and re- manufacturing unused/used, new, broken jewellery goods

1,642.00 2,024.66 5. Import of Spares & Consumables

820.00 1,011.10 6. Repatriation of dividends and profits to foreign collaborates

Royalty

Lumpsum Know how fee

Design & Drawing fees

Payment of foreign technicians

615.00 758.32 11. Payment on training of Indian tech. abroad

51.00 62.89 12. Commission on export

164.00 202.22 13. Foreign Travel 450.00 642.86 123.00 151.66 14 Amount of interest to be paid on ECB

Any other payment 7138.00 11,054.29 205.00 252.77 16. Total (2 to 16) 1895.00 7738.00 61,444.00 75,763.26 17. NFE (1-16) 10762.00 15,374.29 20,626.00 25,432.80 All the conditions of Rule 74 A have been complied with by the Units. Decision: After deliberation, the Committee approved the proposal of M/s. Thirdware

Global Services for change in Entrepreneurship and transfer of assets and liabilities from M/s. Thirdware Global Services into M/s. Diatrends Jewellery Pvt. Ltd., in terms of Rule 19 (2) and Rule 74A of SEZ Rules 2006 read with Rule 74 of SEZ Rules 2006 for exit. The Committee also directed :- a. M/s. Thirdware to clear the outstanding rental dues within one month. b. The list of capital goods of the outgoing and incoming applicant to be furnished to Specified Officer The meeting ended with the vote of thanks to the Chair. Chairperson-cum- Development Commissioner