TaxTMI 
TaxTMI 
Minutes of the 102nd meeting of the Board of Approval for SEZ held on 6th January, 2021 to consider setting up of Special Economic Zones and other miscellaneous proposals
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....for a further period of one year i.e. upto 25.10.2021. The Board, after deliberations, approved extension of the validity of the LoA up to 25th October, 2021. 102.2(ii) Request of M/s. Ganesh International Financial Services (IFSC) Pvt. Ltd., for 3rd extension of the validity of Letter of Approval in Multi Services SEZ at Ratanpur, District Gandhinagar, Gujarat, developed by M/s. GIFT SEZ Ltd. The Board, after deliberations, approved extension of the validity of the LoA up to 8th February, 2021. 102.3 Proposal for change in shareholding pattern/ name/change of control/merger (five proposals) 102.3 (i) Request of M/s Cessna Garden Developers Pvt Ltd., Developer of an IT/ITES SEZ located at Kadubeesanhalli Village, Varthur Hobli, Marathahalli-Sarjapura Outer Ring Road, Bangalore for change of shareholding pattern and change of directors. The Board, after deliberations, approved the proposal for change of shareholding pattern and change of directors subject to approval by relevant statutory body with the following conditions:- i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered developer entity; ....
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....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. 102.3(iii) Request of M/s. Ace SEZ Developers Pvt. Ltd, Co-Developer in M/s. Phoenix Tech Zone Pvt. Ltd, IT/ITES SEZ at Sy. No. 115/35, Nanakramguda Village, Serilingampally Mandal, Ranga Reddy District, Telangana for transfer of ownership of their Co-Developer company. The Board, after deliberations, approved the proposal for transfer of ownership of their Co-Developer company subject to approval by relevant statutory body with the following conditions:- i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered co-developer entity; ii. Fulfilment of all eligibility criteria applicable to co-developer, including security clearances etc., by the altered co-developer entity and its constituents; ....
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.... 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 co-developer shall furnish details of PAN and jurisdictional assessing officer of the codeveloper to CBDT. 102.3(v) Request of M/s. Phoenix IT Infrastructure India Pvt. Ltd, Co-Developer in M/s. Phoenix Infocity Pvt. Ltd, IT/ITES SEZ at Sy. No. Gachibowli Village, Serilingampally Mandal, Ranga Reddy District, Telangana for transfer of ownership of their Co-Developer company. The Board, after deliberations, approved the proposal for transfer of ownership of their Co-Developer company subject to approval by relevant statutory body with the following conditions:- i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered co-developer entity; ii. Fulfilment 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....
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....uest of M/s. Fulcrum Worldwide Software Pvt. Ltd. an IT/ITES Unit for codeveloper status in MIDC-IT/ITES SEZ, Rajiv Gandhi Infotech Park, Hinjewadi, Phase-III, Pune 411057 for the purpose of construction of all type of buildings in processing area, operation and maintenance of infrastructure and leasing of floors to SEZ units. The Board noted that DC, SEEPZ informed about the request of the Unit for the withdrawal of instant proposal. The Board, after deliberations, allowed the unit to withdraw the proposal. 102.4(iv) Request of M/s. Wegmans Trustone Properties LLP for Co-developer status in the IT/ITES SEZ of M/s. Artha Infratech Pvt. Ltd. located at Plot No. 21, Sector-Techzone IV, Greater Noida (Uttar Pradesh). The Board, after deliberations, approved the proposal of M/s. Wegmans Trustone Properties LLP for co-developer status for conversion from warm shell to total ready to move in infrastructure to be leased out to various SEZ units for export including maintaining and managing facility management [Two floors (7th & 8th floor) of Tower No.1 of approx. 64,820 Sqft. Super area in the Processing area of IT/ITES SEZ] in accordance with the co-developer agreement dated ....
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.... The proposal of DC, VSEZ regarding procurement of following items was placed before the Board of Approval: Sl. No. Name of the Developer/Co-Developer/Unit Name of the Item Quantity Value (in Rs.) 1 M/s. Phoenix Spaces Pvt. Ltd, Developer, IT/ITES SEZ at Sy. No. 285, Puppalgu illage, Rajendra Nagar Mandal, Ranga Redd District, Telangana Crushed Sand 20,000 MT 1,09,20,000/- 2. M/s. Phoenix Spaces Pvt. Ltd, Developer, IT/ITES SEZ at Sy. No. 286 & 287, Puppalguda Village, Rajendra Nagar Mandal, Ranga Redd District, Telangana. Crushed Sand 692.50 MT 6,57,875/- 3. M/s. Phoenix IT City Pvt. Ltd, Developer IT/ITES SEZ at Sy. No. 53/paiki/part, Gachibowli Village, Serilingampally Mandal, Ranga Reddy District, Telangana. Robo Sand 3500 MT 2,10,000/- The Board, after deliberations, decided to approve the proposal i.r.o. listed developers in light of DoC's instruction dated 18.05.2020 subject to the condition that it should be ensured that the allowed items are actually used in the SEZs and all the environmental and other relevant regulations are complied with. 102.6(ii) Proposals received from DC, KASEZ for ratific....
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....oner under DoC's instruction dated 18.05.2020 for procurement of restricted item viz. sand, soil etc. subject to the condition that it should be ensured that the allowed items are actually used in the SEZs and all the environmental and other relevant regulations are complied with. 102.7 Miscellaneous cases (five proposals) 102.7(i) Request of M/s Brandix India Apparel City Pvt. Ltd., at Achuthapuram Mandal, Visakhapatnam, Andhra Pradesh for permission for Chain-link fencing. The Board, after deliberations, decided to defer the proposal for further examination and site visit by DC, VSEZ along with Custom officials. After receiving the report from DC, VSEZ, the proposal may be considered on file/placed before BoA for decision. 102.7(ii) Request of M/s. Embassy Services Pvt. Ltd., Co-developer in Embassy Office Parks Pvt. Ltd. SEZ, for surrender of their Co-developer Status and hand over the authorized operations to Developer consequent to transfer of business to Embassy Office Parks Pvt. Ltd. The Board, after deliberations, decided to approve the proposal for surrender of their Co-developer status and hand over the authorized operations to Developer consequent to t....
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.... to the notification of amendments in relevant rules by Ministry of Environment, Forests & Climate Change (MoEFCC) and the subsequent finalisation of policy by the Department of Commerce (DoC) in this regard. All the concerned Development Commissioners should ensure that the unit fulfil all other criteria and there is no violation of SEZ Act/Rules. 102.7 (iv) Proposal of M/s R. R. Vibrant Polymers Ltd. for renewal of LoA for next five years in terms of Rule 18(4) of SEZ Rules'06. The Board, after deliberations, decided to defer the case and directed DC, KASEZ to further take up the matter with unit for payment of due penalty. Thereafter, the proposal may be furnished to BoA for extension after satisfying that the unit fulfills all other criteria. 102.7(v) Application of M/s. Arshiya Northern FTWZ Ltd. for change of sector of its Free Trade Warehousing Zone at Village Ibrahimpur, Junaidpur Urf Maujpur, Bulandshar (U.P.) into 'Multi Sector SEZ" in terms of SEZ Rules amendment Notification dated 17.12.2019. The Board, after deliberations, deferred the case to enable DOR to enable it to examine and convey its comments on the proposal of the unit seeking change of se....
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....Shri Chintan Jayasukhbhai Bhalodia. Post transfer of its shares, the Board of Directors of M/s Aspen Infra Padubidri Pvt. Ltd. is as follows: 1. Chintan Jayasukhbhai Bhalodia 2. Manoj Kumar Hasmukhbhai Modi M/s Aspen Infra Padubidri Pvt. Ltd. will continue to be the developer of the SEZ. The approval shall be subject to approval by relevant statutory body with the following conditions:- i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered developer entity; ii. Fulfilment 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 relevant rules of Revenue/Company Affairs/SEBI etc., 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 t....
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....r demerger of 'Orion-II Undertaking' forming part of the SEZ to Ms. Midas Projects Pvt. Ltd., co-developer with the following conditions:- i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered developer entity; ii. Fulfilment 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 relevant rules of Revenue/Company Affairs/SEBI etc., 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 ap....
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.... Private Limited, Village Behrampur, Gurgaon, Haryana against the decision of the UAC, NSEZ in its meeting dated 26.08.2020. 102.11(iv) Appeal dated 24.12.2020 filed by M/s Optum Global Solutions (India) Private Limited located at ground to 4th Floor, Tower D, Oxygen Business Park Pvt. Ltd., IT/ITES SEZ, Plot no. 7, Sector -144, Noida, UP against decision of the UAC, NSEZ in its meeting dated 26.08.2020 conveyed vide letter dated 09.09.2020. 102.11(v) Appeal dated 24.12.2020 filed by M/s Optum Global Solutions (India) Private Limited located at 6th & 7th Floor, Tower A, Oxygen Business Park Pvt. Ltd., IT/ITES SEZ, Plot no. 7, Sector -144, Noida UP against decision of the UAC, NSEZ in its meeting dated 26.08.2020 conveyed vide letter dated 09.09.2020. 102.11 (vi) Appeal dated 29.12.2020 filed by M/s Optum Global Solutions (India) Private Limited located at Phoenix Infocity Private Limited, SEZ Building no.H06, 1st, 2nd and 3rd Floor, Hitech City 2, Gachibowli V, Hyderabad, Telangana against decision of UAC, VSEZ in its meeting dated 17.06.2020. 102.11(vii) Appeal dated 29.12.2020 filed by M/s Optum Global Solutions (India) Private Limited located at 5th, 6^th & 7th Offic....