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C_ MINUTES

OF
191-t

MEETING

OF
THE ADDDnl7jlT

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12i Li I Li

k_) L'iLi HELD

UNDER

THE

CHAIRMANSHIP

OF DEVELOPMENT

COMMISSIONER

ON
25th SEPTEMBER, 2024. gs{jz =tii -iis Name of the SEZ ';-tr SEEPZ-SEZ tm Meeting No ti'4 191st f Date g'l.O !.R 0 R" 25.09.2024 Members Present: ww Name of Members 'R %;T W Designation m Organization 1 *. #. *.
vr,.

Shri. C. P. S. Chauhan ':@"p. i"'i=his xi5*, Jt. Development Commissioner, -;m SEEPZ-SEZ. 3T 3Tl'% "', ' 'f'; 2 D. !'Thz< '-it'i?iz< Shri. Leider Panicker U?p 3 3 Joint Commissioner Income Tax i Nominee of Commissioner Income Tax office, Mumbai. 3 *. f$=il m < Shri. Himanshu Dhar Pandey sq i"53yi=t= &ngs.!l Deputy Director DGFT :

, ';q i Nominee of the Additional DGFT, Mumbai. Th r"'+
r"s _'

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z_x &dM I=l=hRl mRl*, -IIQ, §

i ' ' g Mrs. Poonarn Darade W. l-l- a'Vl=ti (&dl'l) Dy. Director, Industries Nominee of Development Commissioner of Industries, GoM, Mumbai. k

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' <. 4<=E '4 -iifai 5 m ' p Mrs. Meera Rarnakrishnan ASSistant Commissioner of Customs Nominee of Commissioner of Customs, General Air Cargo Sahar, Mumbai

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L 6 '!II. ',l+l=. =Ral&=h( Shri. Prasad Varwantkar W T'dmffi ;al'lTh, HM-(-h)1 Deputy Development Commissioner, SEEPZ-SEZ T%n-A C

__C'%

_J

l_ 7 '=IH(-II =hl-II %HI Mrs. Kanchi Gupta lall-11(a)2!

61lH"=hRl

Hl'-)1-(-hTl Specified Officer, SEEPZ-SEZ

.@ The Minutes of the 190th Meeting held on r fs jl Smt.

Rekha

Nair,

ADC,

and

Shri.

Manish Kumar, ADC and Shri.

G.S. Bhandari, ADC also attended for
assistance

and
smooth

functioning of the meeting. Agenda

Item

No.
01:
Confirmation

of Minutes of the 190thmeeting held on 28.08.2024. 28.08.2024 were confirmed with consensus. Agenda Item No. 02: Proposal of M/s. Cupid Diamonds Private Limited for setting up of a new unit in SEEPZ-SEZ. M/s.
Cupid
Diamonds
Private
Limited
had submitted

the
application

for
setting

up
of manufacturing unit for Combination Jewellery of Diamond/CZ
or other Precious/Semi-precious Stones/Lab Grown Diamond,
Gold &i Silver Mounting Jewellery,
Plain/Studded

Platinum Jewellery,
Plain/Studded

Silver
Jewellery, Studded/Plain

Gold
Jewellery
at GJ-09, SEEPZ++

admeasuring

area

876.50

sq.mtr, envisaging FOB value of exports of Rs.
50000.00 Lakhs, FE outgo of Rs. 23425.00 Lakhs and NFE of Rs. 26575.00

Lakhs

over
a period

of 5years with
employment

generation

of 350 nos.

(200 Men &, 150 Women). Decision:After

deliberation,

the
Committee approved the proposal of M/s. Cupid Diamonds Private

Limited

for
setting

up
of manufacturin unit for Combination Jewellery of Diamond/C: or other
Precious / Semi-precious
Stones / Lab Grown

Diamond,

Gold

&, Silver

Mounting Jewellery , Plain/Studded
Platinum
Jewellery, Plain/Studded
Silver Jewellery, Studded/Plain Gold Jewellery at GJ-09,

SEEPZ++

admeasuring area 876.50

sq.mtr,

envisaging

FOB

value

of exports

of Rs. 50000.00

Lakhs,

FE
outgo of Rs. 23425.00 Lakhs and NFE of Rs. 26575.00 Lakhs over

a
period

of
5years

with

employment generation of 350 nos. (200 Men & 150 Women).

Agenda Item No. 03:Application for transfer of assets and liabilities
from M/s.
Quinnox Consultancy

Services

Limited

Unit

II into M / s. Infinity Fine Jewellery. The
unit
had

submitted

the
application

for transfer of assets and liabilities from M/s. Quinnox

Consultancy

Services

Limited Unit II into M / s. Infinity Fine Jewellery in terms Rule 74A of SEZ Rules, as per details below:

The details of Directors and Shareholding pattern of both the firms are as follows:- LIST OF DIRECTORS/ PARTNERS OF THE COMPANY :- M/s. Quninnox Consultancy Sewices Pvt. Ltd. UNIT

• II Name

Designation Mr. Krishna Kumar

Wholetime MeenayaPoojary

Director Mr. Arun Singh Mr. RajguravGovindSheth Director Director l'VUs. Infinity Fine Jewellery Name Sh. Bharat Rasik]alSaraiya Mrs. ChaitaliSirajSaraiya Sh. Siraj Bharat Saraiya Sh. ShailSirajSaraiya Designation Partner Partner Partner Partner LIST OF SHAREHOLDING PATTERN OF THE COMP ANY /FIRM:- M/s. Quninnox Consultancy Services Pvt. Ltd.
M/s. Infinity Fine Jewellery UNIT

• II Name of the Share holders % of Share Quinnox Inc 99.99 Mr. Krishna Kumar, Ms. Priya
  O.01 Pereira Sh. Anthony Pereira, Mr. Ruth Noronha Singh Ms. Rekha Raj & Ms. KavitaKapoor (Holding 1 no. of sliare each] Total 100% Name of the Share holders Sh. Bharat Rasiklal Saraiya Mrs. Chaitali Siraj Saraiya Sh. Siraj Bharat Saraiya Sh. Shail Siraj Saraiya Total % of Share 20 % 20 oA 40 o/o 20 % 100 %

Net Worth of the Partners of incoming unit : As on 31.03.2023 Sr. No ' List of iPartners I I Value [Rs. in lakhs] 11 : Sh. Bharat RasiklalSaffaiya 847.19 2 I Mrs. ChaitaliSirhjSaraiya 537.67 13 Sh. Siraj B harat Saraiya 1457.85 j4 Sh. ShailSi ra.j Saraiya 134.14 Proposed Item of Manufacture

:- Studded/Plain

Gold,

Silver,

Pi Titanium,

Stainless

Steel

Je Diamonds [Natural &Lab grownl, & Semi-precious

colour

stones stones & pearls

Proiections on takim. over of assets & Sr. No. Particulars FOB value of exports Import of Machinery Import

of
Raw
Material components 4.
Impoit

of
remaking remanufacturing

Unused/ new, brokenjewelry goods 5. Import of Spares & Consumables 6.
Repatriation

of
dividends profits to foreign collaborates 7.
Royalty 8. Lumpsum

Know how fee 9.
Design & Drawing fees 10.
Payment of foreign technicians 11.
Payment on training of Indian abroad 12.
Commission on export/discount 13
ForeignTravel 14 . Amount

of interest to be paid ECB 15 . Any other payment 16 . Total (2 to 15) Item Description Brass, llery

with Precious synthetic are as under: M/s. Quinnox ConsuJtancy Services Pvt. Ltd. Unit - II lUnit No. 107] for the period of 2024-24 to 2027-28 Rs. In Lakhs

US'OOO 5440.00

6514.97 0.00
0.00 20.00 20.00 17.
NFE (1-16) 5420.00 ITC(CP

Capacity C) 7113

50000 Unit Pieces M/s. Infinity Fine Jewellery Proposed for 5 years 2024-25 to 2028-29 (lUS$ = Rs. 83.50) 23.95 23.95 6491.02 Rs. In Lakhs 42,407.00 200.00 28,837.00 850.00 25.00 10.00 106.00 127.00 106.00 30,261.00 12,146.00 US'OOO 51,000.60 240.53 34,680.70 1022.25 30.07 12.03 127.48 152.74 127.48 36,393.27 14,607.34 Decision

:After

deliberation,

the

Committee approved the proposal for transfer of assets an

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's ,'II=R-M Iml!&Z - %l'€ II "hl 'lRe'llda aR a-lCffR?n"fl !i_.'

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llaDlllKleS OI M/S. (,)111nnOx (:OnSultanC'y" 8erVlCeS T :
q +zi!

T T : +
TT
:- 4-?

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T - r= - : + - -
?-:

R'ml
ldl'hHdl 'hl2d
v%RT ?T T aFR % '& 'k 8, m =;ii % ui '0 q 'r ',

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'1_

'+
r r'S
'
a Tha fl

('l" Th Lilllll LC kl

IJ 111L 11 111 LU IVI / b. lull 11 11 L7 f' 11 le Jewellery

in terms

of Rule
74A
of SEZ
Rules, 2006

subiect to condition that the
same will be 2UU0 % 74 % Qd ! (-l e I H lat'H $(-1 =ral I d I ':l e < f-n *wy<. i"H==+s-) 4 <ia {i i effective
only
after
exit
of
M/s.
Quinnox Consultancy

Services Limited

Unit

II under Rule 74 of SEZ Rules, 2006. vr<
04: ' ftsr'p m' @ d v# Agenda Item No. 04: Application received from f!* 2 siia-i xis 5xii M / s. Vishal Diamonds for Third Party Repair. The unit had submitted the application for Third Party Repair in terms of Instruction no. 51 and provided the following details of the quantity and value on annual basis : Sr. No. Description of Items to be repaired Approximate PCS to be Repaired Approx. Labour Value in Lakhs 1. Diamonds

Studded Gold/Silver /Platinum Jewellery 5000 Pieces Apprx. Rs. 139.00 ' Decision : After

deliberation,

the
Committee deferred the proposal of third party repair in terms of Instruction No. 51 dated 25.03.2010 of the Unit as the unit representative was not present to explain the details of the third
party repair
of the quantum
of pieces
vis-a-viz

the value. _t
f'l
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M

Jl e -
A --14- .- 4: _ _

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Th ff I _ ehl4 !ad I u d 44 4sA I l )h a U'n3TT'TT TT TFF 'EF;'r FKK jlgen(la

rtexn

th):

flppll('aLIOIl

re(:elVe(l

IrOIIl

IVI / S. l

('.

r
"

('i
1
rS
1
r'% r''-

MSjPT.

Jewpl1erv

P'rivqte

T.imitpd

fnr

inr':rt',:ist'

in ffl%=ti It-ig !!+ gst<evl'llgm vsm<l ylq4& ImlgU : mr Hmi -'-

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capacity of existing items in the LOP. "r =@ * fJ =m

' '=TT * I!la')

-1 The unit had
submitted the
application for increase I=:I=I(UI I-IHI-IHR (: in capacity and the details are as under: Sr. No. Items of Manufacture/ Trading Approved Capacity (Indian Rupees/Litres/Pieces) Proposed Capacity (Indian Rupees/Litres/Pieces) 1 Jewellery Studded with Labgrown Diamonds 5000. 00 Pieces 150000. 00 Pieces f!:

i-'r

k mz
' *

r'. Decision

: After

deliberation,

the
Committee 2006 *
19 (2) k

g!r

• 'k k '@ t 61

k

@ mr'lfh

m * fJqr
;amri ',

A ' k 'b

,

m ' mr7'f5a'

k

'rr

q
@ ' ffiai ,.xiv=iii approved the proposal of the Unit for increase in capacity in terms

of Rule 19 (2) of SEZ
Rules, 2006. Also directed to revise projections &, employment to commensurate with increase capacity. However,

approval letter for increase in capacity will
be issued

only on
submission of revised projections &, employment.

The details list of the Partners and shatreholding LIST OF PARTNERS Agenda Item No. 06: Proposal of M/s. Jewel Art

(Unit-II)

for
change

in
Partners

and shareholding pattern of the Company. M/s. Jewel Art (Unit-II)
had submitted
the application

for
change

in
Partners

and shareholding pattern of the Company as per the details mentioned below : Sr. No. 1 2 3 4 Name of Previous Partners Mr. Dharmesh D. Shah Mr. Vipul P. Shah Mr. Priyanshu A. Shah E)'rii No. 1 2 3 4 Name of the Current Partners Mr. Dharmesh D. Shah Mr. Vipul P. Shah Mr. Priyanshu A. Shah Mr. Rahil V. Shah y4-qsia 9q<siRoi Qa-r Q q4 LIST OF PRE-POST SHAREHOLDING PATTERN 1 2 3 Name of Previous Partners Mr. Dharmesh D. Shah Mr.
Vipul P. Shah Mr. Priyanshu A. Shah Previous Profit Sharing Ratio 33.33% 33.34oA 33.33o/o Total

100 N Name of the Current Partners Mr. Dharmesh D. Shah Mr.
Vipul P. Shah Mr. Priyanshu A. Shah Mr.
Rahil V, Shah Current Profit Sharing Ratio 33.33% 28.33% 33.34% 5.00% 100 Decision

:After

deliberation,

the
Committee approved

the
proposal

of the unit for
change

in Partners &i change in shareholding pattern of the Company in terms of MOC&,I Instruction no. 109 dated
18.10.2021

and
subject

to compliance

of the conditions of the said Instruction.

q< u==hi<irs=h g-igs{ (ii"jm !'iqi sii ui"ji"H A =,=hi=i =t1 q#f"fflqrfmf$ Agenda Item No.
7 : Monitoring performance of the Unit holders as per the FSRs [10 nosl attached. F8R 17. Monitoring Performance of M/s. Sidds Jewels Pvt. Ltd. for the period of I 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 was 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 to ii.';'b. ss"si.bxl-q* Initiate action for issuance of Show Cause notice for delay in submission of APR Clear

the
outstanding

dues

of Rs.83731.62/- Clear

the
foreign

exchange

realization within

3
months

time

and

submit extension letter from AD Bank within one month,

failing

which

action

will

be initiated.

%,

FSR 22. Monitoring Performance of M/s. EOS 21,
Power India Pvt, Ltd.,- Trading Division for the period

of 3 years

i.e.
2020-21,

2021-22 and 2022-23. *f$"pdi ii. ''b. r>,ii,ovq.ool-q !i iii.Specified Officer to examine the item of goods @ , ,,@ being exported as per LOA. The unit has
submitted

the APR for
the
period 2020-21,

2021-22

and
2022-23

duly certified by
Chartered

Accountant.

The
export

and import

data
for
the
period

2020-21,

2021-22 and 2022-23 was retrieved from NSDL for cross verification with

data submitted by them in the APR and same was found satisfactory. Decision:

After

deliberation,

the
Committee noted the performance of the unit for the period 2020-21,

2021-22

and
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 to i. Initiate

action for
issuance

of Show Cause notice

for
delay in submission

of APR for the period 2021-22 and 2022-23. ii. Clear

the
outstanding

dues

of Rs.6, 1 1,077.40 /- FSR
23.
Monitoring

Performance

of
M/s. Livingstone

Jewellery

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

l 2019-20. 2020-21. 2021-22 $ 2022- ?

l ='t 'IT=TT f$ i%';=rr =l=)T f '

ui"jr'H ;'i a==hii =h"i q#f'fflqrfmf$: cross verification

with

data

submitted

by them in the APR and same was 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 to amend the details of 'items of manufacture' mentioned in LOA. The
unit has
submitted

the APR for the
period 2019-20, 2020-21, 2021-22 and 2022-23 duly certified

by
Chartered

Accountant.

The export and import data for the period 2019-20,

2020- 21,
2021-22

and
2022-23

was
retrieved

from NSDL for cross verification with data submitted by
them

in
the
APR

and

same

was

found satisfactory. Decision:

After

deliberation,

the
Committee noted the performance of the unit for the period 2019-20,

2020-22,

2021-22

and
2022-23,

as the
unit

had

achieved

positive

NFE

on cumulative

basis in terms of Rule 54 of SEZ Rules 2006. The Committee noted that the exports effected are not commensurate with the space occupied by the unit &, directed Estate Officer to examine the matter. The Committee also directed to :- i. Initiate

action

for
issuance

of Show Cause

Decision:

After

deliberation,

the
Committee noted the performance of the unit for the period 2020-21,

2021-22

and
2022-23,

as the
unit had
achieved positive

NFE
on
cumulative basis in terms of Rule 54 of SEZ Rules 2006. 'FTTE

The
Committee

also
directed

to clear the
foreign exchange realization within 3 months time. ' mi '

• 2020-21,

2021-22 * 2022-

• o0 'iff z=hi€'aa ai<i ysi!'i'io g&ii< '=l of notice for delay in submission of APRs. ii. Clear

the
outstanding

dues Rs.3,58,453.41 /- iii. Clear the foreign exchange realization within 3 months

and
submit

extension

letter

from
AD Bank within one month iv.S0

to inspect

the
premises

and
examine

the Emplo3mnent vis-a-viz export figures v. Unit to furnish

an
Undertaking that they will make

optimum

utilization

of the
space
vis-a- viz export for the current year 2024-25. FSR

25.Monitoring

Performance
of M/s. Patdiam

Jewellery Ltd.

for the period

of 3 years i.e. 2020-21, 2021-22 and 2022-23. The unit has
submitted

the APR for
the
period 2020-21,

2021-22

and
2022-23

duly certified by
Chartered

Accountant.

The

export

and import

data
for
the
period

2020-21,

2021-22 and 2022-23 was retrieved from NSDL for cross verification with data submitted by them in the APR and same was found satisfactory. FSR 26. Monitoring Performance of M/s. Prism Jewellery

for
the
period

of 3 years

i.e. 2020- 21, 2021-22 and 2022-23. The
unit has
submitted

the APR for
the
period 2020-21,

2021-22

and
2022-23

duly certified by
Chartered

Accountant.

The
export

and

import

data
for
the
period

2020-21,

2021-22 and 2022-23 was retrieved from NSDL for cross verification with data submitted by them in the APR and same was found satisfactory. f'*yj 4;it=vi-i=h qiqi iiqii '( % ', ' @ 2020-21, 2021-

Decision: After deliberation, the Committee had
achieved positive

NFE on
cumulative

basis 54 '* : ':@" mm q< (+tiRlcJlah g-ig*{ yi!'m Tk mi in terms of Rule 54 of SEZ Rules 2006. The Committee also directed to :- #mtq#f'fflqrfmf*

i.
Initiate action for issuance of Show Cause i. ' mug
'

'H *

':p m*

notice for delay

in submission of APR
and variation observed in value addition. ii.
Clear the outstanding dues Rs. 1,31,771. 13 / - iii.
Clear the foreign

exchange

realization within 3 months time. FSR 27. Monitoring Performance of M/s. SB &i T International Ltd. for the period of 3 years i.e. 2021-22, 2022-23 and 2023-24. The
unit has
submitted

the APR for the
period 2021-22,

2022-23

and
2023-24

duly certified by
Chartered

Accountant.

The
export

and import

data
for
the
period

2021-22,

2022-23 q b % UT!!T

% 'Oq g-igsJ)H > xiu and 2023-24 was retrieved from NSDL for cross verification with data submitted by them in the APR and same was found satisfactory. '

@

'i ujq; Q-<1(-QHyj4 <R, ' 0 2021-22, 2022-

Decision:After

deliberation,
the
Committee 2021-22.

2022-23

and
2023-24

as the
unit

fk mi

• -g * ffflhr ' '0 :- @ai had achieved positive

NFE on
cumulative

basis in terms of Rule 54 of SEZ Rules 2006. The Committee noted that the exports effected are not commensurate with the space occupied by the unit 8r, directed Estate Officer to examine the matter. The Committee also directed to :- 1.
Initiate action for
issuance

of Show

Cause notice

for not

achieving appropriate

'value addition' , -ii a 11. Clear the outstanding dues of Rs.2,26,254/- and provide the export orders in hand < ,),

iii. Clear the foreign exchange realization within 3 months time and
submit

extension

letter from AD Bank within one month iv.
Section to initiate action on the pending CRA objection immediately. 122 FSR 28. Monitoring Performance of M/s Tiana Jewellery Exports Pvt.
Ltd.for the period

of 3 years i.e. 2020-21, 2021-22 and 2022-23. The
unit has
submitted

the APR for
the
period 2020-21,

2021-22

and
2022-23

duly certified by
Chartered

Accountant.

The

export

and import

data
for
the
period

2020-21,

2021-22 and 2022-23 was retrieved from NSDL for cross verification with data submitted by them in the APR and same was found satisfactory. Decision:After

deliberation,

the
Committee noted the performance of the unit for the period 2020-21,

2021-22

and
2022-23

as the unit had
achieved positive

NFE
on cumulative basis in terms of Rule 54 of SEZ Rules 2006. ' '-TTI The Committee also directed to

' 'r 'g * f4=gr ' '0 : ii.
i,s=+,ssg.ss'*';''wdi '

@

i '

• ==g #fa'ir f!-xr % ii.'';b. 4,87,922.51/-udi i. Initiate action
  for issuance

of Show
Cause notice for delay in submission of APR for the period
2021-22

and
2022-23

and variation observed in value addition. ii. Clear the outstanding dues Rs. 1,84,589.88/- iii. Unit to surrender the Gala no. 142 back to SEEPZ Authority as the same is not utilized optimally

for
exports

&, generation

of employment. The unit has submitted the APR for the period 2022-23duly 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 was 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 to :- i. Initiate action
for issuance

of Show Cause notice for delay in submission of APR ii.
Clear

the
outstanding Rs.4,87,922.51 /- dues F8R 30. Monitoring Peformance of M/s Aplab Ltd.for the period of 2 years i.e. 2023-24 and 2024-25. The unit has submitted the APR for the period 2023-24

and
2024-25

duly

certified

by Chartered Accountant.

The export
and
import

23-24 '!TTI q*nq *
'mrrr % mq
gi data for the period 2023-24 and 2024-25

was retrieved

from

NSDL for
cross

verification

with data
submitted

by
them

in
the
APR
and
same was found satisfactory Decision:

After

deliberation,

the
Committee noted the performance of the unit for the period 2023-24 and 2024-25 as the unit had achieved positive

NFE
on cumulative

basis

in terms of Rule 54 of SEZ Rules 2006. The Meeting concluded with a vote of to the chair.