TaxTMI 
TaxTMI 
Minutes of the 91th meeting of the. Board of Approval for SEZ held on 6th August, 2019 to consider setting up of Special Economic Zones and other miscellaneous proposals
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.... at Gangaikondan, Tirunelveli for a further period of six months beyond 07.05.2019 up to 07.11.2019. The Board, after deliberations, approved extension of the validity of the formal approval up to 7th November, 2019. 91.2(ii) Request of M/s. Electronics Corporation of Tamil Nadu Ltd. (ELCOT Ltd.) for further extension of the validity period of formal approval, granted for setting up of sector specific IT/ITES SEZ at Viswanathapuram, Hosur, Tamil Nadu for a further period of six months beyond 07.05.2019 up to 07.11.2019. The Board, observed that despite substantive investment, the developer has constructed a very small portion of the built up area. The Board, after deliberations, decided that a well defined roadmap from the developer for meeting the necessary requirements of built up area laid down in Rule 5(7) of the SEZ Rules, 2006 be obtained through DC, MEPZ, and put up in the BoA. 91.2(iii) Request of M/s. Electronics Corporation of Tamil Nadu Ltd. (ELCOT Ltd.) for further extension of the validity period of formal approval, granted for setting up of sector specific IT/ITES SEZ at Vadapalanji, Madurai for a further period of one year beyond 07.05.2019 up to 07.05.20....
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....p to 25.06.2020. The Board, after deliberations, approved extension of the validity of the LoA up to 25th June, 2020. 91.3 (iii) Request of M/s. Raghukaushal Textile Pvt Ltd in the Apparel Park SEZ, Khokhra, Ahmedabad for extension of Letter of Permission (LoP) beyond 24.07.2019 for 1 year upto 24.07.2020. The Board, after deliberations, approved extension of the validity of the LoP up to 24th July, 2020. 91.3(iv) Request of M/s. BEML Ltd., a unit in KIADB Aerospace SEZ located at Bangalore, Karnataka for extension of validity of Letter of Approval (LoA) beyond 05.01.2019 for a period of one year i.e. upto 05.01.2020. The Board, after deliberations, approved extension of the validity of the LoA up to January, 2020. 91.3(v) Request of ET Elastomer Technik Pvt Ltd. in the Electronic Park SEZ located at Gandhinagar for extension of validity of Letter of Permission (LoP) w.e.f. 13.03.2019 for 1 year upto 12.03.2020. The Board, after deliberations, approved extension of the validity of the LoP up to 12th March, 2020. 91.3(vi) Request of M/s. Omni Lens Pvt Ltd in the Electronic Park SEZ, located at Gandhinagar for extension of Letter of Permission (LoP....
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....y. No. 115/35, Nanakramguda Village, Serilingampally District, Telangana for development, operation and maintenance of the SEZ and other activities. The Board, after deliberations, approved the proposal of M/s. Phoenix IT Hub Pvt. Ltd. for construction of IT/ITES building and operating and maintaining the facility within the framework of SEZ in an area of 0.49 hectares 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 does not exceed 30 years (Renewable). 91.5(iii) Request of M/s. Phoenix SEZ Spaces Pvt. Ltd. for co-developer status in M/s. Phoenix Tech Zone Pvt. Limited SEZ at Sy. No. 115/35, Nanakramguda Village, Serilingampally District, Telangana for development, operation and maintenance of the SEZ and other activities. The Board, after deliberations, approved the proposal of M/s. Phoenix SEZ Spaces Pvt. Ltd. for construction of IT/ITES building and operating and maintaining the facility within the framework of SEZ in an area of 0.45 hectares in accordance with the co-developer agreement entered into with the developer subject to standard terms ....
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....i) Request of M/s. Embassy VTV Infrastructure Management Private Limited a co-developer in M/s Vikas Telecom Private Limited SEZ located in Bangalore for change of name from "Embassy VTV Infrastructure Management Private Ltd" to "VTV Infrastructure Management Private limited". The Board, after deliberations, approved the proposal with the following conditions:- i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered co-developer entity; ii. Fulfillment of all eligibility criteria applicable to co-developer, including security clearances etc., by the altered co-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/los....
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....es with following conditions:- i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered co-developer entity; ii. Fulfillment of all eligibility criteria applicable to co-developer, including security clearances etc., by the altered co-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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....or nomenclature of "Electronic Hardware & Software including IT/ITES SEZ" into "IT/ITES Sector". The Board, after deliberations, approved the proposal of M/s. Artha Infratech Pvt. Ltd. for amendment in sector nomenclature of "Electronic Hardware & Software including IT/ITES SEZ" to "IT/ITES Sector". 91.8 Miscellaneous Cases (Five proposals) 91.8(i) Request of M/s. Aarti Industries Limited at (Plot No.Z/103/H) for permission for laying steam pipe rack above ground from Plot No.Z/103/H to Z/III/B in Dahej SEZ. The Board, after deliberations, decided to approve the proposal subject to compliance of rules and regulations prevailing in SEZ area and norms/instruction of concerned authorities viz., Pollution Control Board and GIDC. 91.8(ii) Request of M/s. Abhijeet Ferro Tech Ltd. of APSEZ, Visakhapatnam for import of Ferro Manganese slag for a quantity of 50,000 mts. The Board, after deliberations, approved the proposal subject to NOC from Ministry of Environment, Forest & Climate Change and prescribed conditions. 91.8(iii) Review of lease period in case of developer, co-developer and units in Special Economic Zones. The representative from Department of Revenue i....
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....veloper, M/s Petronet LNG Limited and the unit, M/s GAIL (India) Ltd. Thereafter, the case may be brought before the Board for further consideration. 91.8(v) Request of M/s Shreekunj Hospitality Pvt. Ltd. for permission to take up authorization operations as a Co-developer in Dahej SEZ. DC, Dahej SEZ informed the Board that Debt Recovery Tribunal, vide their judgment dated 15.07.2019, in Securitization Application No. 84 of 2014 before the Debt Recovery Tribunal, Ahmedabad held that sale certificate dated 20.01.2017 (in favour of M/s Shreekunj Hospitality Pvt. Ltd.) has no value in the eye of law and sale certificate dated 07.01.2017 (in favour of 4 persons/promoters) would prevail over sale certificate, subsequently issued. The Board was also informed that the SCA No. 10376/2018 is listed for hearing on 13.08.2019 in the Hon'ble High Court of Gujarat. The Board, after detailed deliberations, decided to seek report from DC enumerating all legal issues involved and the future course of action and deferred the matter. 91. 8(vi) Request of M/s ZF Wind Power Coimbatore Pvt. Ltd. for review of decision of the Board of Approval in connection to their proposal for undertak....
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....nced any activity during the three years period since grant of in-principle approval on 29.03.2016 nor made any request for extension of their in-principle LoA, the UAC rejected the proposal for broad-banding for manufacturing activity and decided to cancel the in-principle LoA validity of which had already lapsed. The Board, heard the appellant. The appellant stated that they could not commence the activity as they were not allotted land by the DC. The appellant assured to generate revenue, employment and earn foreign exchange. The decision of the UAC dated 30.01.2019 for rejecting the request of the unit for broad-banding of manufacturing activity was found to be in order by the Board. Further, the Board, decided to uphold the appeal to the limited extent that the authorized operations permitted to the unit vide in-principle LoA dated 29.03.2016 i.e. setting up of weigh bridge and broad-banding permission dated 07.07.2017 for trading activity of melamine, plastic agglomerates, plastic floor sweepings and plastic grindings may be considered by UAC, KASEZ subject to allotment of land after following all norms. Decision on Supplementary Agenda 91.11 Proposal for setting ....
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....rtment of Commerce 2. Shri R.P. Goyal, Additional, DGFT 3. Shri Bidyut Behari Swain, Additional Secretary, Department of Commerce 4. Shri Senthil Nathan S, Deputy Secretary, Department of Commerce. 5. Ms. Prajna Paramita, Director, CBDT, Department of Revenue, Ministry of Finance. 6. Shri Saroj Kumar Behera, Additional Director , DGEP, CBIC 7. Shri R.K. Pattanayak, Additional, LC, Legislative Department, M/o Law & Justice 8. Shri Sonu Singh, Joint Director, Ministry of Environment, Forest and Climate Change. 9. Shri V.L. Shukla, Director, M/o MSME 10. Shri Arvind Choudhary, director, Ministry of Shipping 11. Shri Parmeshwar Bali, CO (ports), Ministry of Shipping 12. Shri L.C. Dabaria, Assistant legal Adviser, M/o Law and Justice, D/o Legal Affairs. 13. Dr. S.K. Husain, TCPO/ M/o HUA, New Delhi 14. Shri R.C. Dahra, Consultant, O/o Director Industries Department, Haryana 15. Shri Vijay Kayarkar, Assistant Resident Commissioner. Govt. of Maharashtra, 16. Shri Subhash Sharma, OSD, Govt. of Chhattisgarh LIST OF DEVELOPMENT COMMISSIONERS 1. Dr....