TaxTMI 
TaxTMI 
Minutes of the 104th meeting of the Board of Approval for SEZ held on 28th May, 2021 to consider setting up of Special Economic Zones and other miscellaneous proposals
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....ear up to 26.10.2021. The Board, after deliberations, approved extension of validity of the LoA for a period of one year, i.e. up to 26.10.2021. 104.2(ii) Request of M/s ECGC Limited, a unit in GIFT SEZ for extension of the validity of LoA in multi-services SEZ at Ratanpur, District Gandhinagar, Gujarat developed by M/s GIFT SEZ Ltd. The Board, after deliberations, approved extension of validity of the LoA for a period of one year, i.e. up to 28.06.2021. Item no. 104.3 Change in name/shareholding pattern/merger-demerger (four proposals) 104.3(i) Proposal of M/s Bayline Infocity Limited, developer of Bayline Infocity SEZ at Old Mahabalipuram Road, Chennai, Tamil Nadu for change of shareholding pattern and appointment of new directors. DC, MEPZ informed the Board that M/s KKN Holdings Pvt. Ltd., existing shareholder has amicably settled the dues and do not have an objection to the proposed change in shareholding pattern of M/s Bayline Infocity Ltd. It was further stated that the withdrawal petition filed by the individual investors before the NCLT, Chennai Bench is listed for hearing on 09.06.2021. The Board noted that the matter is sub-judice and the outcome of ....
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....ons:- 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 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 applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. ....
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....Approval. The Board, after deliberations, approved the proposal in terms of proviso under Rule 27(1) of the SEZ Rules, 2006 subject to the condition that it should be ensured that the allowed item is actually used in the SEZs and all the environmental and other relevant regulations are complied with. 104.4(ii) Request of M/s Jenya, Plot no.10, EPSEZ, Gandhinagar for procurement of raw material for the purpose of building construction in Electronic Park SEZ, Gandhinagar. The proposal from DC, KASEZ for ratification of approval granted by DC office to procure various materials for the purpose of building construction in Electronic Park SEZ, Gandhinagar which included 250 Tonnes of River Sand (HSN Code 25051020) was placed before the BoA. The Board, after deliberations, decided to ratify the approval granted by the Development Commissioner under DoC's instruction dated 18.05.2020 for procurement of restricted items 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. 104.4(iii) Procurement of Sand/Soil by Kandla SEZ unit....
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....e LLP Sand 2 trucks (60 MT) 13.04.2021 30. Rama Cylinders Pvt. Ltd. Sand 1500 MT 28.04.2021 31. IFGL Refractories Ltd. Sand 20000 CFT 28.04.2021 The Board, after deliberations, decided to ratify the approval granted by the Development Commissioner under DoC's instruction dated 18.05.2020 for procurement of restricted items 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. 104.4(iv) Proposal of M/s Phoenix Infocity Pvt. Ltd. for procurement of sand for their SEZ. The proposal from DC, VSEZ for permission to procure sand by the developer was placed before the BoA for the following items : Sl. No. Name of the item Quantity (in MT) Value (in Rs.) 1 Plaster Sand 10000 1,00,00,000 2 River Sand 10000 4,00,00,000 3 Robo Sand 10000 70,00,000 Total 5,70,00,000 The Board, after deliberations, decided to approve the proposal for procurement of restricted item viz. sand in terms of proviso under Rule 27(1) of the SEZ Rules, 2006 ....
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....€¢ A totally refurbished state of the art building premises admeasuring 6097 sq. mtrs in two floor built with excellent road access. • Fully equipped 2 canteen blocks admeasuring about 418 sq. mtrs. each, in first floor. • HT power supply from the Electricity Grid with a sanctioned demand power supply of 400 kvw. • Two Volvo Penta generators (415 KVA & 250KVA) for stand-by power supply, for continuous industrial operations. • A centrally air-conditioned (8 units of 22 tons each, 6 units of 3 tons-194 tons), fully furnished office (4500 sq. ft.) in the ground floor, fitted with air-conditioner of 17 tons, consisting of 16 work stations, 8 cabins, one R&D room, one Conference room and reception area. • Two Atlas Copso Air Compressors 15 HP & 25 HP for industrial operations. • Other amenities like smoke detectors, security cameras, tables, video conference equipments etc. The approval shall be subject to execution of necessary co-developer agreement with the developer and compliance with relevant provisions of SEZ Act and Rules. The lease period shall be in accordance with DoC's Instruction n....
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....overnment of Sikkim for formal approval for setting up of an IT/ITES SEZ at Namli, 8th Mile, Ranipol, East Sikkim over an area of 6.32 Hectares. The Board, after deliberations, approved the proposal of the Department of Information Technology, Government of Sikkim for "formal approval" for setting up an IT/ITES SEZ at Namli, 8th Mile, Ranipol, East Sikkim over an area of 6.32. DC, Falta SEZ shall ensure strict compliance of necessary safeguards in view of observations of the Ministry of Home Affairs while conveying security clearance to the developer vide their letter dated 10.09.2020. 104.7(ii) Application of M/s. Magnus Infrastructure Ltd. seeking "In-Principle Approval" for setting up of a "Multi-Sector SEZ" at Neidavoyal Village, Ponneri Taluk, Thiruvallur District, Tamil Nadu over an area of 50.58 Ha. The Board, after deliberations, decided to grant an "in-principle" approval to the developer. 104.7(iii) Application of M/s. NDR Infrastructure Pvt. Ltd. seeking "In-Principle Approval" for setting up of a "Multi-Sector SET' at Soorai Village and Aayal Village, Sholingar Taluk, Ranipet District, Tamil Nadu over an area of 50.58 Ha. The Board, after delibe....
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....ged in recycling of plastic as SEZ units. 3. DGFT will propose suitable amendment in FTP to provide for setting up of new units engaged in recycling plastic as EOUs. 4. Besides the NFE obligations, the units shall be required to comply with to the extent- 1. 35% of the exports in terms of annual turnover; and 2. 50% in terms of tonnage. 5. They shall be allowed to make clearance in DTA, other SEZ units as well as EoUs as long as they fulfil the NFE and other conditions. Clearance to other SEZ units/EOUs will not be counted towards mandatory minimum physical export obligations. The Board after deliberations, decided to grant further extension of five years to the worn and used clothing units beyond 30.06.2021. As regards plastic recycling units, the Board decided to extend the validity of their LoAs upto 26.07.2022 i.e. 18 months from the date of notification of the Hazardous and Other Waste (Management and Transboundary Movement) Amendment Rules, 2021 vide G.S.R. 47(E) dated 27.01.2021 by the MoEF&CC. The concerned Development Commissioners should ensure that the units fulfil all other criteria and there is no violation of SEZ Act/Rul....
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....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. vii. The developer shall furnish details of PAN and jurisdictional assessing officer of the developer to CBDT. Item no. 104.11 Proposal for additional area (one proposal) 104.11(i) Request of M/s. J. Matadee Free Trade Zone Private Limited, an FTWZ located at Mannur and Valarpuram Villages, Permbakkam Road, Sriperumbudur Taluk, Kancheepuram District, Tamil Nadu, for an increase in area of 9.333 Ha (beyond 10%) to their existing notified area of 84.775 Ha. The Board, noted that as per the inspection report there is a temple land and a small waterway canal within the already notified area. DC, MEPZ informed the Board that the temple land is outside the SEZ boundary and a culvert has already been constructed over the canal which is already under usage by the developer. As regards reservations on contiguity, DC informed....
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....ement of restricted item viz. sand 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. Decision on Supplementary Agenda II 104.13 (i) Request of M/s TRIL Infopark Limited, Developer of TRIL Infopark Limited SEZ for IT/ITES at Old Mahabalipuram Road, Chennai for change of shareholding pattern. The Board, after deliberations, approved the proposal for change of shareholding pattern 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 ....