TaxTMI 
TaxTMI 
TaxTMI 
Minutes of the 92th meeting of the. Board of Approval for SEZ held on 4th October, 2019 to consider setting up of Special Economic Zones and other miscellaneous proposals
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....deliberations, approved extension of the validity of the formal approval up to 29th October, 2020. 92. 2(ii) Request of M/s DLF Info Park, (Pune) Ltd. for further extension of the validity period of formal approval, granted for setting up of sector specific SEZ for IT/ITES at Rajiv Gandhi Infotech Park, Hinjewadi, Phase-II, Pune, Maharashtra beyond 26.06.2019. The Board approved extension of the validity of the formal approval up to 25th June, 2020. Further, the Board directed DC, SEEPZ to obtain necessary information from the developer regarding pending approvals from MIDC and assess possibilities for carrying out construction at the earliest. Item No. 92.3 Requests for extension of Letter of Permission (LoP) beyond 3rd Year onwards (two proposals) 92.3(i) Request of M/s. Algolog Systems Pvt. Ltd., a unit in the IT/ITES SEZ of Ansal IT City & Parks Ltd. at Plot No. TZ-06, Techzone, Greater Noida for extension of LoP dated 26.10.2015 up to 25.10.2021. The Board, after deliberations, approved extension of the validity of the LoP up to 25th October, 2020. 92.3(ii) Request of M/s. Tech Mahindra Ltd. in MIDC SEZ at Plot No. 4, Rajiv Gandhi Infotech Park, MIDC SEZ, Hinjewadi, Phas....
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....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. vii. The developer shall furnish details of PAN and jurisdictional assessing officer of the developer to CBDT. 92.5(ii) Request of M/s. Brookefields Real Estates and Projects Pvt. Ltd SEZ located at Bangalore (Developer) for change of name to M/s. Brigade Properties Private Limited. The Board, after deliberations, approved the proposal for change in name from M/s Brookefields Real Estates and Projects Pvt. Ltd to M/s. Brigade Properties Private Limited with 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 developer, including security clearances etc., by the altered developer entity and its constituents; iii. Applicability of and compliance with all Revenue / Company Affairs /SEBI etc. ru....
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....risdictional assessing officer of the developer to CBDT. 92.5 (iv) Request for transfer of Global Village Tech Parks SEZ from Tanglin Developments Limited (Developer) to Global Village Tech Parks Private Limited and proposed change in control of GV Teen Parks Private Limited at Global Village, Pattenegere/Mylasandra Village, Off Mysore Road, RVCE Post, Bangalore, in the State of Karnataka. The Board, was informed by DC, CSEZ that the developer proposes for change in control in two phases: Phase I: M/s Tanglin Developments Limited (TDL) would transfer the Global village Division including all the assets, freehold title to land and liabilities of the Global Village Division to the Global Village Tech Parks Pvt. Ltd. (GV Tech Park) in consideration of issuance of Optionally convertible Debentures (OCDs) by GV tech Parks to TDL such that post transfer GV Tech Parks becomes the Developer the Global Village Tech Park SEZ. That there would be no cash payments by GV Tech Parks but they would be issuing Convertible Debentures to TDL. In Phase II, GV Tech Parks would be issuing fresh (new) Convertible Debentures to the Acquirers Viz. M/s BREP Asia II Indian Holding Co. I (NQ) Pte. Ltd.,....
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....aterial in respect of its unit located in the Multi-Product SEZ of M/s. Mahindra World City (Jaipur) Ltd. at Village Kalwara, Jhai, Bhamboriya, Bagru Khurd & Newtn, Tehsil-Sananer, Distt- Jaipur (Rajasthan). The Board, after deliberations, approved the request of the unit. 92.6 (iv) Request of M/s. Dr. Reddy's Laboratories Ltd. (CIO SEZ Process Unit.I) a unit in Ms. Dr. Reddy's Laboratories Ltd. for manufacture of Pharmaceuticals & APIs at Devunipalavalasa Village, Ranasthalam Mandal, Srikakulam District for extension of Letter of Approval by another one year for achieving positive NFF. The Board, after deliberations, approved the request of the unit for grant of extension period for achieving positive NFE for one year provided DC, VSEZ should ensure that all shortcomings be dealt within the SEZ rules. 92.6 (v) 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 undertaking repair/re-engineering etc. of gear box units manufactured by DTA Units. The Board, heard the representatives of the company and a presentation was also given by them. The Board, was informed that the recommendations o....
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....on of five years to the unit subject to annual review of milestone achieved and compliance of ail regulatory aspects provided all pending dues are settled within a period of six months. The appellant is directed to submit a list of annual milestones to be achieved to the DC, who may finalize the same. 92.8 Proposal for setting up of new SEZ (one proposal) 92.8(i) Request of M/s. Tripura Industrial Development Corporation Limited seeking in-principle approval for setting up a new Sector Specific SEZ for Agro based (broad-banded) at Paschim Jalefa & Dakshin Bijoypur (Ludhua Tea Garden area). Sabroom, South Tripura District in the State of Tripura over an area of 25 Ha. The Board, was informed that the Ministry of Home have conveyed their clearance on 20.09.2019 subject to compliance of rules of competent authority on SEZ and provision of adequate security to persons involved in implementation of project. The Board, after deliberations, "in-principle" approved the proposal for setting up of a sector specific Special Economic Zone for Agro based (broad-banded) at Paschim Jalefa & Dakshin Bijoypur (Ludhua Tea Garden area), Sabroom, South Tripura District in the State of Tr....
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....algamation 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 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. 92.11(ii) Request of M/s. DLF Info City Developers (Chennai) Ltd. SEZ at Shivaji Gardens, Moonlight Stop, Nandampakkam Post, Ramapuram, Chennai for change in shareholding pattern of the company. The Board, after deliberations, approved the proposal subject to the 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 developer, including security clearanc....
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....ocessing area of IT/ITES SEZ] 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 shall be in accordance with DoC's Instruction No. 98 dated 29.08.2019. Item No. 92.13 Setting up of new SEZs (one proposal) Item No. 92.13 (i) Request of M/s. TATA Consultancy Services Limited seeking formal approval for setting up a new Sector Specific SEZ for IT/ITES at Plot Nos: H-11/1B & H-11/2 in SIPCOT IT Park, Siruseri, Kancheepuram District, Tamil Nadu over an area of 7-39 Ha (18.27 Acres). The Board, after deliberations, "in-principle" approved the proposal for setting up of a sector specific Special Economic Zone IT/ITES ai Plot Nos: H-11/1B & H-11/2 in SIPCOT IT Park, Siruseri, Kancheepuram District, Tamil Nadu over an area of 7.39 Ha (18.27 Acres) subject to the condition that no nit will be approved unless the condition of contiguity is complied with by the developer. Item No. 92.14 Miscellaneous cases (three proposals) 92.14(i) Request of M/s. PI Industries Ltd., SPM-28, Sterling SEZ AT & PO Sarod, TA-Jambusar, Dist-Bbnruch, Gujarat for considerat....