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Minutes for the 138th meeting of the Board of Approval for Special Economic Zones (SEZs) to be held on 23rd March, 2026
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....3.2026 up to 28.02.2027. DC SEEPZ-SEZ informed the Board that the initial LOA was issued on 25.02.2013 and 12 extension have been given, last one expired on 28.02.2026. The Unit has now sought another extension to commence its operations. The Board was informed that an inspection of the Unit was conducted, during which the progress of work at the unit was found to be satisfactory. The construction activities have been completed and the plant and machinery were fully installed. The commercial operations have not yet commenced due to pending approval from the USFDA. The unit has been regularly applying for USFDA inspection. Further DC also informed that the Unit is regularly applying for inspection to USFDA Authority and paying fees for the same. However, the inspection has been delayed. It was informed that renewal fee for the inspection has been paid and which is valid up to 31.12.2026. The Board was informed that the Unit is hopeful of inspection being conducted before that. DC apprised the Board that the Unit has already made significant capital investment and has taken substantial steps to operationlize the facility. DC also informed that the Unit had taken broadbanding....
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....e clarified under which rule or provisions are additional development rights defined and allowed. In this connection, it was informed to the Board that M/s. Bakeri Spaces LLP, a existing Co-Developer in SEZ developed by M/s. GIFT SEZ Limited, Gandhinagar, Gujarat, has entered into supplementary agreement with the Developer on 18.10.2025 for additional land requirement and developmental rights condition. Further, the requirement of approval from the BoA for any modification (including additional area or scope) relating to a Co-Developer is implicit and in accordance with the provisions of Sections 3(11), 3(12) and 9 (2) (d) of the SEZ Act and Rule 6(A) of the SEZ Rules, 2006. The Board, after deliberations, approved the proposal of M/s. Bakeri Spaces LLP, GIFT-SEZ, Gandhinagar, for increase in development rights by 54,000 square feet, i.e. from 5,40,000 square feet to 5,94,000 square feet and increase in land area by 177 square meters i.e. from 4,677 square meters to 4,854 square meters in accordance with the supplementary Co-developer Agreement dated 18.10.2025, entered into with the Developer (M/s. GIFT SEZ Limited) subject to standard terms and conditions as per the SE....
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....n No.115 dated 09.04.2024. DC, CSEZ submitted that out of the total BUA of 8,68,456.15 sqmts, an area of 43519.79 sq. mtrs has been proposed to be demarcated under Rule 11B. It was submitted that the built-up area is lying vacant due to implementation of sunset clause for Income Tax benefit, post Covid-19 pandemic slump in office space demand in SEZs. The DC further submitted that requisite documents have been submitted by the Developer. It was also confirmed by DC that total duty benefits and tax exemption availed on the BUA proposed to be demarcated as NPA have been paid back and No Dues Certificate have been issued by the Specified Officer. The Board, after deliberations, permitted the demarcation of the following area as Non-Processing Area in terms of Rule 11B of SEZ Rules, 2006: - Building Description Area (in M^2) Periodt 7th Floor 3935.03 8th Floor 3935.03 9th Floor 3935.03 10th Floor 3935.03 Ground Floor, Reception, Terrace, Parking 10916.72 Basement (1&2) 16862.95 Total 43519.79 In addition to above, the Board stated that the responsibility to ensure that all the extant provisions relating to d....
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....23,509.189 sq. mtrs has been proposed to be demarcated under Rule 11B. The Developer has already demarcated 35,924.244 sqm in the said SEZ. It was submitted that the Developer proposes to utilise the NPA for setting up of business engaged in IT/ITES. The DC further informed that requisite documents have been submitted by the Developer. It was also confirmed by DC that total duty benefits and tax exemption availed on the BUA proposed to be demarcated as NPA have been paid back and No Dues Certificate have been issued by the Specified Officer. The Board, after deliberations, permitted the demarcation of the following area as Non Processing Area in terms of Rule 11B of SEZ Rules, 2006:- Building Tower & floor numbers Area in Sqmt. Grand Canyon (B3) Building Tower-B (7th to 8th & 16th to 17th floor): 3805.975 Tower-C (7th to 8th & 16th to 17th floor): 3796.800 Tower-D (1st to 7th & 16th to 17th floor): 7670.262 Tower-E (1st to 7th & 16 to 17th floor): 8236.152 Total: 23509.189 Sqmt In addition to above, the Board stated that the responsibility to ensure that all the extant provisions relating to demarcation of processing area to non-pr....
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....rea in terms of Rule 11 B of SEZ Rules, 2006 read with Instruction No. 115 dated 09.04.2024. DC, MEPZ submitted that out of the total BUA of 6,38,398.40 sqmts, an area of 7,686.20 sq. mtrs has been proposed to be demarcated under Rule 11B. The Developer has already demarcated 38,007.61 sqm in the said SEZ. The DC further submitted that requisite documents have been submitted by the Developer. It was also confirmed by DC that total duty benefits and tax exemption availed on the BUA proposed to be demarcated as NPA have been paid back and No Dues Certificate have been issued by the Specified Officer. The Board, after deliberations, permitted the demarcation of the following area as Non Processing Area in terms of Rule 11B of SEZ Rules, 2006:- Tower/Block Particulars Area to be Demarcated as NPA (in Sq.mtrs) Block D 3rd Floor 3,843.10 4th Floor 3,843.10 Total 7,686.20 In addition to above, the Board stated that the responsibility to ensure that all the extant provisions relating to demarcation of processing area to non-processing area are implemented in letter and spirit, lies with the DC concerned. Further, the DC concerned shall also ensure ....
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....tee (UAC), Visakhapatnam Special Economic Zone (VSEZ), in its meeting held on 25.11.2025, to cancel the Letter of Approval (LoA). The cancellation of LoA was communicated vide letter bearing no. 26(D)/141/2018/SSSEZ (VSEZ) dated: 02.12.2025, which was received by the appellant on 08.12.2025. The Board in its 138th meeting held on 23.03.2026, heard the appellant through video conferencing. Submissions by the Appellant The representative of the Appellant submitted that M/s. Neoaska Pharma Pvt. Limited was granted LoA on 07.02.2018 for setting up of a Unit for manufacturing of Pharmaceutical Formulations. The Unit commenced operations on 17th June, 2020. i. During the relevant period, the Appellant was under Corporate Insolvency Resolution Process ("CIRP") pursuant to Ld. National Company Law Tribunal, Hyderabad ("NCLT") order dated 01.04.2022 in CP(IB) No. 241/9/HDB/2021. Thereafter the affairs of the Appellant were managed and controlled by the Resolution Professional appointed by the Ld. NCLT as per the provisions of the Insolvency and Bankruptcy Code, 2016 ("IBC"). ii. It was submitted that the Appellant is a revived entity under the provisions of the IB....
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....furnish the Annual Performance Report within the stipulated period of 180 days following the close of financial year in the form prescribed under the Special Economic Zone rule 2006, certified by a Chartered Accountant. The Appellant failed to submit the Annual Performance Report within the prescribed period of 180 days following the close of financial year. ii. A Show Cause Notice dated 04.07.2025 was duly issued to the appellant unit by the authority, providing an opportunity to submit its reply within 15 days. The said Show Cause Notice was sent by Speed Post to the registered office address furnished at the time of issuance of the LoA and to the Appellant Unit located in Visakha Pharmacity SEZ. However, the said notice was returned undelivered by the postal authorities with the remarks "Door Locked / Addressee Left". Despite issuance of the Show Cause Notice, no response was received from the appellant iii. The Letter of Approval was cancelled after four months of issue of Show-cause notice, thus ample time was given to the Appellant to respond. The Show-cause notice was returned undelivered while the Cancellation Order was delivered at the same address, which....