IN FORCE SEZ / EOU / FTWZ 2024-01-03

Minutes of the Approval Committee meeting of SEEPZ-SEZ held on 20.12.2023

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

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MINUTES OF 182"¢ MEETING OF THE APPROVAL COMMITTEE FOR SEEPZ SEZ HELD UNDER THE CHAIRMANSHIP OF DEVELOPMENT COMMISSIONER ON 20°H DECEMBER, 2023.

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|||.||||
|---|---|---|---|---|---|
|Name|ofthe SEZ|:<br>SEEPZ-SEZ||||
|2.MéetingNo.||1g2n4||||
|3, Date||20.12.2023||||
|Members|MembersPresent:|||||
|1|hr.C.P.S,Chauhan<br>JtDevelopment<br>Commissioner,<br>Shri.LeiderPanickereee<br>Income Tax||SEEPZ-SEZ.<br>NomineeofIncome Taxoffice,Mumbai.|Mumbai.||
|3|feeDhar|DeputyDirectorDGFT||Nomineeof theAdditionalDGFT, Mumbai.|||
|4|an<br>fmt KirtiDeshmukh|DeputyDirector<br>Industries|ominee<br>of<br>Development<br>Industries,GoM, Mumbai.|Commissioner|of|
|5|.<br>Smt. SunitaJagtap|Superintendentof<br>Customs|ominee of Commissioner of <br>.<br>AirCargo,Sahar.|Customs, General,||

Members Present:

Special Invitee:-

  1. Shri. Anil] Chaudhary : Specified Officer, SEEPZ-SEZ 2. Shri. Prasad H Varwantkar : Deputy Development Commissioner, SEEPZ-SEZ

Shri. Hanish Rathi, ADC (SEEPZ-SEZ), Shri. Manish Kumar, ADC (New-SEZ)}, Shri. Palash Shankar, ADC, (New-SEZ}, Smt. Rekha Nair, Assistant, Shri. Ravindra Kumar, Assistant and Shri. Jagdish Gaur, LDC also attended for assistance and smooth functioning of the meeting. Agenda _ Item No. 01: Confirmation of the Minutes of the 181°' Meeting held_on 06.12,2023.

Decision: After deliberation, the Minutes of the meeting held on 06.12.2023 were confirmed with consensus.

Agenda Item No. 02 : Application for Change of Entrepreneurship and_ transfer o assets _an liabilities from _M/s. Shri Raj Jewels _into _[M/s.] Unity Jewels,

The unit submitted the application for Change of Entrepreneurship and transfer of assets and

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liabilities of M/s. Shri Raj Jewels into M/s. Unity Jewels. The Unit representative had conveyed that 2 of their Partners in M/s. Shri Raj Jewels wish to retire from the Partnership firm and wish to expand the business out of India and therefore M/s. Unity Jewels being a sister concern Unit wish to take over the assets and liabilities of M/s. Shri Raj Jewels into M/s. Unity Jewels on business transfer agreement.

Decision: After deliberation, the Committee approvedthe proposal for Change in Entrepreneur and transfer of assets and liabilities of M/s. Shri Raj Jewels to M/s. Unity Jewels in terms of Rule 19 (2) of the SEZ Rules 2006 read with Rule 74 A of SEZ Rules 2006 and revision of projections of M/s. Unity jewels for the period 2023-24 to 2027-28 which are more than the existing projections.

Agenda Item No, 3 : Application received for Change of Board of Directors of the Company of M/s. Steckbeck Jewelry Pyt. Ltd

M/s. Steckbeck Jewelry Pvt. Ltd had submitted the application for Change in Board of Directors of the company and submitted all relevant documents. The details of Change in Directors of the Company are as under:

LIST OF DIRECTORS

|Sr.|ListofDirectorsPre|ListofDirectorsPre|ListofDirectorsPre||ListofDirectorsPost|Post|
|---|---|---|---|---|---|---|
|No.|||||||
||ame ofDirector Designation||Appointment/<br>Resignation|NameofDirector Designation||Appointment/Resig<br>ationDate|
||||Date||||
|1||Mr. Kurt CharlesPDirector||03.10.2005|r.<br>Paresh|JiDirector|02.11.2021|
||Steckbeck|||Sampat|||
|2||Mr.<br>Paresh|JDirector|02.11.2021|Mr.Pareesh|M|Director|13.10.2014|
|3|Sampat<br>{Mr.Pareesh|M{Director|13.10.2014|ehta<br>r.<br>Benjamin|AjDirector|29.05.2018|
||Mehta|||Langhammer|||
|4||Mr.<br>Benjamin|A)irector|29.05.2018||||
||Langhammer||||||

LIST OF SHAREHOLDING PATTERN

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----- Start of picture text -----<br> Sr. \NWame of Shareholding Pattern (Pre Resignation\Shareholding Pattern {Post<br>No. Shareholder ofMr. Kurt) Resignation ofMr. Kurt)<br>No. of SharesP of Share-WValue(Rs.)|No. of Shares of Share-jValue(Rs.)<br>of Rs,100/-tholding of Rs,100/-lholding<br>each each<br>1 (Mr. Kurt Charles/1 0.00036 100 rt 0.00036 100<br>Steckbeck<br>2 (Clas Investment)274947 99.99964 7494700 [274947 99.99964 7494700<br>olding<br>----- End of picture text -----<br>

Decision : After deliberation, the Committee approved the proposal of the unit for Change of Board of Directors of the Company in terms of MOC&i Instruction no. 109 dated 18.10.2021. Further, the

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

  • Committee also directed the Unit to comply with the 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.

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

  1. 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.

  2. 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,

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

  4. 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.04: Application received for__Change in Board of Directors __of the Company- M/s. Portescap India Pvt. Ltd (LOA-489)

M/s. Portescap India Pvt. Ltd (LOA-489) had submitted the application for Change in Board of Directors of the company and submitted all relevant documents. The details of Change in Directors of the Company are as under:

The List of Board of Directors Erstwhile and Current are under:

  • (Erstwhile) (Current) Director Director

  • ee Singh 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.

    1. 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

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

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  • regulate issues like capital gains, equity change, transfer, taxability etc.

  1. 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.

  2. 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.

  3. The applicant shal! comply with relevant State Government laws, including those relating to lease of land, as applicable.

  4. 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.05: Application received for Change in Board of Directors of the Company- M/s. Portescap India Pvt. Ltd (Stepper. Motors} (LOA-HW-14)

M/s. Portescap India Pvt. Ltd (Stepper Motors} {(LOA-HW-14} had submitted the application for Change in Board of Directors of the company and submitted all relevant documents. The details of Change in Directors of the Company are as under:

List of Board of Directors Erstwhile and Current are under:

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----- Start of picture text -----<br> (Erstwhile) (Current)<br>Dwr AmitavaSur |DirectorManaging Directo 2 Mp. Sanjay Kachroo_|DirectorWhole time Directh<br>i nee A Cs |<br>Decision : After deliberation, the Committee approved the proposal for Change in Board of Directors of<br>the Company in terms of Instruction no 109, dated 18.10.2021. Further, the Committee also directed the<br>unit to comply with following safeguards in terms of instruction no. 109, dated 18.10.2021 :<br>----- End of picture text -----<br>

  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 shal] comply with relevant State Government laws, including those relating to lease

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

of land, as applicable.

  1. 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.

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----- Start of picture text -----<br> Agenda__Item__No.06: Application _ received for Change in_ Board of Directors of<br>the Company- M/s. Portescap India Pvt. Ltd (DC<br>Motors) (LOA-590)<br>----- End of picture text -----<br>

M/s. Portescap India Pvt. Ltd (DC Motors) (LOA-590) had submitted the application for Change in Board of Directors of the company and submitted all relevant documents. The details of Change in Directors of the Company are as under:

The List of Board of Directors Erstwhile and Current are under:

||{Erstwhile)<br>(Current)|
|---|---|
||Director<br>Director|
|b|[MrAmitavaSur __Managing Director_b Mr|SanjayKachroo__fwhole time Director|
|Director<br>ec||

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. 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.

  1. 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.

  2. 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.

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

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

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

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----- Start of picture text -----<br> Agenda Item No. 07: Monitoring of Performance of M/s. Thirdware Global<br>Servicers (A Division__of Thirdware Solution Lid) for __ the<br>period of 1 vear i.e. 2023-24<br>The unit has submitted the APR for the period 2023-24 duly certified by Chartered Accountant. The export<br>and import data for the period 2023-24 was retrieved from NSDI. for cross verification with data<br>submitted by them in the APR and same has been found satisfactory.<br>----- End of picture text -----<br>

Decision: After deliberation, the Committee noted the performance of the unit for the period 2023-24, as the unit had achieved positive NFE on cumulative basis in terms of Rule 54 of SEZ Rules 2006.

Agenda Item No. 08 : Monitoring _of Performance of M/s. Birlasoft Limited _(UnitUW) for the period of3 years i.e. 2020-21 to 2022-23

The unit has submitted the APR for the period 2020-21 to 2022-23 duly certified by Chartered Accountant. The export and import data for the period 2020-21 to 2022-23 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 2020-21 to 2022-23, as the unit had achieved positive NFE on cumulative basis in terms of Rule 54 of SEZ Rules 2006.

Agenda Item No, 09 : Monitoring of _ Performance of M/s. Health ___ Prime Services (1) Pvt. Ltd. for the period of 1 year i.e. 2022-23.

The unit has submitted the APR for the period 2022-23 duly certified by Chartered Accountant. The export and import data for the period 2022-23 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.

Agenda Item No. 10: Monitoring of Performance of M/s. ndaram Jewellery for[_] the period of 1 year i.e. 2021-22

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 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 dues Rs.1,53,998/-

at the earliest

Agenda Item No. 11 : Monitoring of Performance of M/s. SKD_ Jewellery for the _ eriod of 1 year i.e, 2020-21 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

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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][ SEZ][Rules][2006.]

  • The Committee also directed:

  1. The unit to clear the outstanding rental dues immediately.

  2. Specified Officer to initiate action for issuance of Show Cause Notice for delay in submission of APR of[the][period][2020-21.] The meeting ended with a vote of thanks to the Chair.

(Rajesh Kumar Mishra, IRS)

Chairperson-cum-

Development Commissioner, SEEPZ-SEZ

Signed by Chanderpalsingh Chauhan Date: 29-12-2023 11:08:05 Reason: Approved

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