Minutes of Meeting held on 09-04-13 - Nsez.gov.in

Naida Special Economic Zone(<strong>Minutes</strong> <strong>of</strong> <strong>Meeting</strong> <strong>of</strong> Approval Committee <strong>of</strong> Noida SEZ<strong>held</strong> on 09/04/2013)Page 1 <strong>of</strong>5The meeting <strong>of</strong> the Approval Committee <strong>of</strong> Noida SEZ was <strong>held</strong> on 09/04/2013at 11.30 AM in the Conference Hall <strong>of</strong> NSEZ, Noida. The meeting was chaired by ShriJayant Misra, Development Commissioner, Noida SEZ. Following members werepresent:1. Shri B.K. Dixit, Joint Commissioner, Income Tax Noida.2. Shri Rakesh Kumar, Dy. Development Commissioner, NSEZ3. Shri Abhishek Sharma, Asstt. DGFT.4. Shri Shishir Kumar, Manager, DIC, G.B. Nagar.Besides, Shri K. Bhattacharjee, Appraiser, Customs, NSEZ, Shri PrakashChand, Asstt. Development Commissioner, Shri Ram Baboo, Asstt. DevelopmentCommissioner, NSEZ, Shri Utsav Sharma, AEE, UPPCB, Noida also attended themeeting.GIST OF THE MEETING:Ratification<strong>of</strong> <strong>Minutes</strong> <strong>of</strong> last meeting <strong>of</strong> the Approval Committee:The Approval Committee ratified the minutes <strong>of</strong> the last meeting <strong>held</strong> on 12/03/2013.Decisions on Proposals:1. Application <strong>of</strong> MIs. Bhatia S<strong>of</strong>tware Technologies for setting up a unit inNoida SEZ for ITIITES (e-Iearning, web based s<strong>of</strong>tware).The Committee deliberated on the proposal and decided to approve the samewith projected FOB value <strong>of</strong> exports <strong>of</strong> Rs. 1575.00 lakhs and NFE earnings <strong>of</strong>Rs. 1375.00 lakhs over a period <strong>of</strong> first five years.2. Application <strong>of</strong> MIs. Tarmo IT Services for setting up a unit in NSEZ.The Committee discussed the proposal and decided to approve the same withprojected FOB value <strong>of</strong> exports <strong>of</strong> Rs. 2040.00 lakhs and NFE earnings <strong>of</strong> Rs.1900.00 lakhs over a period <strong>of</strong> first five years.3. Application <strong>of</strong> MIs. KnitPro International for setting up a unit in NSEZ.The Committee discussed the proposal and decided to approve the same withprojected FOB value <strong>of</strong> exports <strong>of</strong> Rs. 2000.00 lakhs and NFE earnings <strong>of</strong> Rs.1525.00 lakhs over a period <strong>of</strong> first five years.

Noida Special Economic Zone(<strong>Minutes</strong> <strong>of</strong> <strong>Meeting</strong> <strong>of</strong> Approval Committee <strong>of</strong> Naida SEZ<strong>held</strong> on 09/04/2013)Page 2 <strong>of</strong>54. Application <strong>of</strong> MIs. Hanung Toys & Textiles Ltd. for setting up a unit inNSEZ.The Committee discussed the proposal and decided to approve the same withprojected FOB value <strong>of</strong> exports <strong>of</strong> Rs. 19300.00 lakhs and NFE earnings <strong>of</strong> Rs.3090.00 lakhs over a period <strong>of</strong> first five years.5. Application <strong>of</strong> MIs. RBS Enterprises for setting up a unit in NSEZ.The Committee discussed the proposal at length and felt that the ITRs/details <strong>of</strong>proposed sources <strong>of</strong> funding <strong>of</strong> project provided by the promoter don't appear tobe sufficient for implementation <strong>of</strong> the project. The Committee thereforedeferred the proposal with the directions to the applicant to resubmit the projectapplication, duly recast and supported with details <strong>of</strong> liquid assets/ net worthstatement in respect <strong>of</strong> proprietor/firm duly certified by a CA firm and a letterfrom bank conveying the 'in principle' sanction for the proposed loan.6. MIs Heuer International - Change <strong>of</strong> Entrepreneur & review <strong>of</strong>performanceThe Committee discussed the proposal <strong>of</strong> the unit and approved the change <strong>of</strong>entrepreneur from Heuer International to 'Heuer International - A Division <strong>of</strong>G.S.T. Corporation Ltd.' subject to submission <strong>of</strong> an undertaking by theincoming entreprenuer regarding taking over <strong>of</strong> the assets and liabilities <strong>of</strong>existing unit, and execution <strong>of</strong> revised bond cum legal undertaking. TheCommittee also monitored the performance <strong>of</strong> the unit on the basis <strong>of</strong> APRs upto 2011-12 and noted achievement <strong>of</strong> positive NFE by the unit as on31/03/2012.7. MIs Kundan Rice Mills Ltd. - LOA Renewal & Monitoring <strong>of</strong> performance.The Committee monitored the performance <strong>of</strong> the unit on the basis <strong>of</strong> APRs upto 2011-12 and noted achievement <strong>of</strong> positive NFE by the unit as on31/03/2012. Extension in the validity <strong>of</strong> LOA <strong>of</strong> the unit was also approved bythe Committee for next five years w.e.f. 11/03/2013.\I 1\L~However, the Committeeamended the LOA <strong>of</strong> the unit restricting the authorised

Noida Special Economic Zone(<strong>Minutes</strong> <strong>of</strong> <strong>Meeting</strong> <strong>of</strong> Approval Committee <strong>of</strong> Naida SEZ<strong>held</strong> on 09/04/2013)Page 3 <strong>of</strong>5operations <strong>of</strong> the unit to "Manufacturing <strong>of</strong> gold/silver jewellery studded withdiamond."8. MIs Romsons International - Amendment in LOA & Review <strong>of</strong>performance.The Committee considered the proposal <strong>of</strong> the unit and approved suffixing <strong>of</strong>'Unit-II' in the name <strong>of</strong> unit. The unit in NSEZ will henceforth be known as"Romsons International (Unit-H)".9. Following cases were also placed before the Approval Committee formonitoring <strong>of</strong> performance/APRs. Unit wise decision <strong>of</strong> the Committee areindicated below:-1. VKM Exports: The Committee noted that there are pending realizationto the tune <strong>of</strong> Rs. 481.23 lakhs. Some <strong>of</strong> the realizations are pendingsince 2010-11. The Committee felt the need to know the reasons <strong>of</strong> nonrealization<strong>of</strong> forex and deferred the case with the directions to the unitto submit latest ITRs to be placed before the next UAC. Parameteresrelating to import <strong>of</strong> broken jewellery also needs to be examined & put upbefore the UAC.2. Reliance Precitone Jewellers Pvt. Ltd.: The Committee monitored theachievement <strong>of</strong> positive NFE by the unit as on 31/03/2012, but theCommittee reiterated its displeasure over the low performance <strong>of</strong> the unitwith respect to exports made and NFE earned which is very low andmarginal vis-a-vis space allotted. The unit was directed to improve itsperformance as also advised earlier by UAC dt. 10106/2011. TheCommittee also directed the unit to submit copy <strong>of</strong> latest ITRs <strong>of</strong> the unit,for its perusal in next meeting.3. Balaji Export Co. (Mfg Unit): The Committee monitored theperformance <strong>of</strong> the unit on the basis <strong>of</strong> APRs up to 2011-12 and notedachievement <strong>of</strong> positive NFE by the unit as on 31/03/2012.4. Balaji Export Co. (Trading Unit) & Rank International: The Committeedirected the units to apply for exit as they would now not be allowedtrading activities in gold.A5. Anagram Systems: The Committee expressed its displeasure over the

Naida Special Economic Zone(<strong>Minutes</strong> <strong>of</strong> <strong>Meeting</strong> <strong>of</strong> Approval Committee <strong>of</strong> Noida SEZ<strong>held</strong> on 09/04/2013)Page 4 <strong>of</strong>5dismal performance <strong>of</strong> the unit and deferred the case deciding toexamine the activities being carried out by the unit and calling for thecopies <strong>of</strong> latest ITRs filed by the unit, for perusal <strong>of</strong> UAC.6. Corbus India Pvt. Ltd.: The Committee monitored the performance <strong>of</strong>the unit on the basis <strong>of</strong> APRs up to 2011-12 and noted achievement <strong>of</strong>positive NFE by the unit as on 31/03/2012.7. Roto Pumps: The Committee monitored the performance <strong>of</strong> the unit onthe basis <strong>of</strong> APRs up to 2011-12 and noted achievement <strong>of</strong> positive NFEby the unit as on 31/03/2012. The Committee however decided to review<strong>of</strong> status <strong>of</strong> realization <strong>of</strong> pending foreign exchange <strong>of</strong> the unit, in thenext UAC.Supplementary Agenda:1. Application <strong>of</strong> M/s. Metco International for setting up a unit in Noida SEZfor Manufacturing/processing <strong>of</strong> Tinplate, TFS, CR, GP - Coils, Sheets,Strips.The Committee discussed the proposal <strong>of</strong> the applicant and expressed its doubtabout the project viability. The Committee deferred the proposal with thedirections to the applicant to furnish detailed manufacturing/process flow chart,details <strong>of</strong> project viability and self certified copy <strong>of</strong> MoU from supplier for furtherconsideration <strong>of</strong> proposal.2. On specific requst following proposals were considered by the UAC:(i) M/s G.S.R. Industries - Amendment in LOA.The promoter requested to allow amendment in LOA by way <strong>of</strong> inclusion <strong>of</strong>following additional item <strong>of</strong> manufacture in LOA:Rolling Paper Bobbins, Hulzen Futurola Paper with Accessories.The Committee noted that the performance <strong>of</strong> the unit and its sister concern M/sBullet International were placed before the UAC dt. 12/02/2013 for review. TheCommittee, based on input from the Jt. Commissioner <strong>of</strong> Income Tax, Noida,had decided to defer the proposal <strong>of</strong> review awaiting a report from the IncomeTax, Noida. The Committee deferred and proposal with the directions to write alr.;::usformal letter to the Joint Commissioner, Income Tax, Noida requesting forreport in the matter.

Naida Special Economic Zone(<strong>Minutes</strong> <strong>of</strong> <strong>Meeting</strong> <strong>of</strong> Approval Committee <strong>of</strong> Noida SEZ<strong>held</strong> on 09/04/2013)Page 5 <strong>of</strong>5(ii) MIs Ess Gulliver Ladder Mfg. Co. Pvt. Ltd. - Exit from SEZ Scheme to workunder EPCG Scheme.The Committee noted that though the UAC dt. 12/02/2013 had directed the unitto comply with the exit formalities without further delay, however since the unithas now requested for NOC under rule 74(4) <strong>of</strong> SEZ Rules, 2006 to work underEPCG Scheme, the Committee therefore, considered the request <strong>of</strong> the unit andallowed NOC to enable the unit to obtain EPCG Licence from appropriateauthority. Final exit from NSEZ would however be considered on completion <strong>of</strong>exit formalities and submission <strong>of</strong> copy <strong>of</strong> pro<strong>of</strong> <strong>of</strong> EPCG Licence, by the unit.The meeting ended with a vote <strong>of</strong> thanks to the Chair.~,~~\Jant Misra)De elopment Commissioner