TaxTMI 
TaxTMI 
Minutes of the 71st of the Board of Approval for SEZs held on 22nd June 2016 to consider proposals for setting up Special Economic Zones and other miscellaneous proposals
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....rd, after deliberations, extended the validity of the formal approval up to 16th June, 2017. (ii) Request of M/s. Gulf Oil Corporation Limited for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for IT/ITES/BPO/Electronic Hardware at Kattigenahalli and Venkatala villages, Yelahanka Hobli, Bangalore, Karnataka, beyond 17th June, 2016 The Board, after deliberations, extended the validity of the formal approval up to 17th June, 2017. (iii) Request of M/s. Calica Construction and Impex Pvt. Ltd. for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for ITATES at Village Ognaj, Taluka Dascroi, District Ahmedabad, Gujarat, beyond 6th May, 2016 The Board, after deliberations, extended the validity of the formal approval up to 6th May, 2017. The Board also directed DC, KASEZ to obtain the details of expenditure and developmental plans from the Developer within two months. Item No. 71.2 : Requests for extension of validity of in-principle approval (i) Proposal of M/s. Venkatesh Coke & Power Ltd. for extension of the validity of i....
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.... crores in accordance with the co-developer agreement entered into with the developer, subject to standard terms and conditions as per SEZ Act and Rules. (ii) Request of M/s. Mantri Cosmos Il Owners Welfare Association for co-developer in the sector specific SEZ for electronic Hardware and Software including IT/ITES at Nanakramguda village, Serilingampally Mandal, Ranga Reddy District, Telangana, being developed by M/S. Mantri Developers Pvt. Ltd. After deliberations, the Board approved the proposal of M/S. Mantri Cosmos Il Owners Welfare Association to invest, upgrade the bare shell to warm shell, operate and maintenance of their share of space i.e. (i) create infrastructural facilities such as interior fit outs & services, electrification, firefighting providing 24x7 uninterrupted power supply at stable frequency, 100% power back up reliable dated connectivity, central air conditioning system (HVAC), required by the IT/ITES companies to operation in the SEZ (ii) Invest amounts required for creating such infrastructural facilities (iii) and to manage, maintain, operate and upkeep the infrastructure facilities of Mantri Cosmos Tower Il after leasing in accordance ....
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.... (ii) This approval is also subject to the condition that the Co-developer shall abide by existing guidelines and any guidelines framed on the subject, in future Item No. 71.5 : Miscellaneous Cases (i) Request of M/s. Logicapt Informatics Pvt. Ltd., a unit in M/S. Quarkcity India Pvt. Ltd. at Mohali, Punjab for change of Directors and shareholding of the company. After deliberations, the Board approved the request for change of Directors and shareholding of the company subject to following conditions:- (i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered unit entity; (ii) Fulfillment of all eligibility criteria applicable to unit, including security clearances etc., by the altered developer entity and its constituents; (iii) Applicability of and compliance with all Revenue / Company Affairs /SEBI etc. rules which regulate issues like capital gains, equity change, transfer, taxability etc. (iv) Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT), CBDT, Department ....
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.... Gurgaon, Haryana, being developed by M/S. ASF Insignia SEZ Pvt. Ltd. for undertaking Operation and maintenance of infrastructure existing in the identified SEZ area admeasuring 3.739 acres namely Grand Canyon SEZ Building with built up space of 1420198 sq.ft. comprising ground floor + 17 floor each in Block A,B,C,D and E and 3 level basements, a part of the ASF Insignia SEZ as a co-developer (details at annexure- 1 & Annexure- 2 of Form Al) (that is operation & maintenance of infrastructure existing in the "identified SEZ area" and/or further development/redevelopment of the identified SEZ area and it's operation & maintenance pursuant to sanction of further authorized operation), in accordance with the co-developer agreement entered into with the developer, subject to standard terms and conditions as per SEZ Act and Rules provided that the lease period is reduced to a period not exceeding 30 years (Renewable). Item No. 71.6 : Appeals before BOA (i) Appeal of M/s. Moser Baer India Limited (SEZ Power Plant Unit), a unit in NSEZ against order dated 20.08.2015 passed by UAC, NSEZ. The Board noted that the matter required detailed consultatio....
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....ension of LoP from 4th April, 2016 to 23rd March, 2018. The Board, after deliberations, extended the validity of the LoP up to 23 rd March, 2018. (ii) Request of M/s. Sameer Industries, a unit in KASEZ for extension of Letter of Permission (LOP) The Board, after deliberations deferred the proposal and directed DC, KASEZ to verify the correct Block of five years and verify the NFE performance of the unit during that period. (iii) Request of M/s. Doot Transmission Pvt. Ltd., a unit in the Engineering and electronics at Plot no. AL-18 and AL-19, Shendre Five Star Industrial Area, Shendre, MIDC, Aurangabad for extension of Letter of Permission (LOP) beyond 17th April, 2016 . The Board, after deliberations, extended the validity of the LoP up to 1 April, 2017. (iv) Request of M/s. Tech Mahindra Pvt. Ltd., an IT/ITES unit in MIHAN-SEZ, Nagpur, a Multiproduct Special Economic Zone developed by Maharashtra Airport Development Company Limited for extension of Letter of Permission (LOP) beyond 27.07.2016. The Board, after deliberations, extended the validity of the LoP up to 27th July, 2017. (v) Request of M/s. KPIT Technologies Ltd....
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....legal possession w.r.t. the agreement between the developer and the land owners and decide to defer the proposal. (iii) Request of M/s. Phoenix Embassy Tech Zone Private Limited for setting up of a sector specific SEZ for IT/ITES at Nanakramguda Village, Serilingampally Mandal, Ranga Reddy District, Telangana, over an area of 6.07 hectares. The Board directed DC, VSEZ to examine legal possession w.r.t. the agreement between the developer and the land owners and decide to defer the proposal. Item No. 71.11 : Miscellaneous Cases (i) Request of M/s. Dr. Fresh Health Care Pvt. Ltd. developer for sector specific SEZ for Electronics Hardware & Software including IT/ITES at Village Ghamroj, Tehsil Sohna, Gurgaon-Sohna Road, Gurgaon, Haryana, for change of shareholding pattern of the company After deliberations, the Board approved the request for change in shareholding pattern, subject to following conditions:- (i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered developer entity; (ii) Fulfillment of all eligibility criteria applicable to developers, including security cl....
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....f 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. (vi) The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. (vii) The developer shall furnish details of PAN and jurisdictional assessing officer of the developer to CBDT. (iii) Request of M/s. Mikado Realtors Pvt. Ltd. for setting up of sector specific SEZ for Electronic Hardware, IT/ITES at Village Behrampur, Distt Gurgaon, Haryana, by transfer of 100% shareholding of the company to M/S. Tata Realty & Infrastructure Ltd. (TRIL) and M/S. Standard Chartered Real Estate Investment (Singapore) VII Private Ltd. After deliberations, the Board approved the request for transfer of 100% shareholding of the company to M/S. Tata Realty & Infrastructure Ltd. (TRIL) and Ws. Standard Chartered Real Estate Investment (Singapore) VIl Private Ltd., subject to following conditions:- (i) Seamless continuity of the SEZ activities with unaltered responsibilities an....
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....ing to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority. (v) The Assessing Officer shall have the right to examine and assess the taxability and eligibility for deduction under relevant sections of the Income Tax Act, 1961. (vi) The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. (vii) The co-developer shall furnish details of PAN and jurisdictional assessing officer of the co-developer to CBDT. (v) Request of M/s Unitech Realty Project Ltd., developer of sector specific SEZ for IT/ITES at Tikri, Sector, 48, Gurgaon, Haryana for change of name/constitution & shareholding pattern of the company After deliberations, the Board approved the request for change of name of the developer from M/S Unitech Realty Project Ltd. to M/s. Candor Gurgaon One Realty Projects Pvt. Ltd. and change of the shareholding pattern of the company, subject to following conditions:- (i) Seamless continuity of the SEZ activities with....
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....owing conditions:- (i) Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered developer entity; (ii) Fulfillment of all eligibility criteria applicable to developers, including security clearances etc., by the altered developer entity and its constituents; (iii) Applicability of and compliance with all Revenue / Company Affairs /SEBI etc. rules which regulate issues like capital gains, equity change, transfer, taxability etc. (iv) Full financial details relating to change in equity/merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority. (v) 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. (vi) The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. ....
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....d deferred the proposal as the State Government Recommendation is awaited. Item No. 71.15 : Cancellation of Formal Approval (i) Cancellation of Formal Approval of M/s. Devbhumi Realtors Private Limited (Sy. No. 83/1, Raidurg Panmakhtha Village, Serilingampally Mandal, Ranga Reddy District, Telangana) The Board noted that the progress made by the developer M/s. Devbhumi Realtors Private Limited (Sy. No. 83/1, Raidurg Panmakhtha Village, Serilingampally Mandal, Ranga Reddy District, Telangana) is not satisfactory. Further, Government of Telangana also recommended the proposal for cancellation. The Board, after deliberations, decided to cancel the formal approval/notification. The cancellation was subject to the DC furnishing a certificate in the prescribed format certifying that the developer has not availed any tax/duty benefits including Service Tax Exemptions, if any, under SEZ Act/Rules, or has refunded any such benefits availed by it. Decision on Supplementary Agenda III Item No. 71.16 : Proposals for setting up of SEZs (i) Request of M/s. Bagmane Developers Private Limited for setting up of a sector specific SEZ for IT/ITES at Outer Ring Road, D....