Minutes of Meeting held on 13-08-12 - Nsez.gov.in

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<strong>Minutes</strong> <strong>of</strong> <strong>Meeting</strong> <strong>of</strong> Approval Committee, NSEZdated 13/08/2012Page 2 <strong>of</strong>53. Application <strong>of</strong> Mis. Open IT Methods Pvt. Ltd. for setting up a unit in Noida SEZfor IT lITES.Shri Nilesh Sudon, Director <strong>of</strong> the applicant Co. appeared and explained about hisexpertise in the field. The Committee satisfied with the source <strong>of</strong> finances <strong>of</strong> the promoters toimplement the project on the basis <strong>of</strong> CA certified net-worth statements in respect <strong>of</strong> promoterdirectorgiven by the applicant. Further, the Committee also confirmed that one <strong>of</strong> thepromoter-director had related experience and the other director had served IAF and successfullyrunning business, although in different field. After due deliberations, the Committee approvedthe proposal subject to availability <strong>of</strong> space. However, pr<strong>of</strong>essional legal and accounting servicesshall not be allowed as per specific stipulationin the SEZ Rules.4. Application <strong>of</strong> MI s Friction Fibre Technologies India Pvt. Ltd. for setting up a unitin NSEZ.The Committee took note <strong>of</strong> individual ITRs <strong>of</strong> the promoter-directors. The Companyrepresentative informed that they would export as well as supply to EOUs. After duedeliberations, the Committee approved the proposal subject to availability <strong>of</strong> space (SDF) atground floor.5. Mis. Corbus India (P) Ltd. - amendment in LOA and review <strong>of</strong> performance.After hearing justification that the unit cannot procure orders for s<strong>of</strong>tware developmentin isolation and services such as s<strong>of</strong>tware application support, business process support andrelated IT lITES services would essentially be provided to the customers, the Committeeallowed inclusion <strong>of</strong> the said services as authorized operations.The Committee also reviewed performance <strong>of</strong> the Unit on the basis <strong>of</strong> APRs <strong>of</strong> the BlockPeriod 2007-2012 and noted Export performanceand NFE achieved by the Unit.6. Mis Rohit International - Review <strong>of</strong> performance.The Committee was informed that the Unit had achieved marginal NFE as per APRssubmitted and there was no clarity whether the Unit's claimldeclaration were to be accepted asthe Unit preferred to revise APR for the year 2008-09. In addition, Customs-NSEZ hinted aboutl~aration <strong>of</strong> import which the unit procured from MMTC. The Committee was also
<strong>Minutes</strong> <strong>of</strong> <strong>Meeting</strong> <strong>of</strong> Approval Committee, NSEZdated 13/08/2012Page 3 <strong>of</strong>5informed that the LOA which was valid up to 11.07.2011 had not been renewed till date due topoor response <strong>of</strong> the unit in submission <strong>of</strong> documents necessary for examination <strong>of</strong> APRs.The Committee decided that all the issues relating to examination <strong>of</strong> APR would be broughtbefore the Committee and, if required, appropriate Show Cause Notice would be issued infuture. However, as per request <strong>of</strong> the Unit, the Committee decided to renew the LOA <strong>of</strong> theUnit but only for authorized operations related to manufacturing, with immediate effect. TheCommittee opined that if the unit desires to carry out only trading then it should shift to SDF,as plots were allotted for manufacturing activity only and the unit utilized the allotted plot foronly trading activity in 4 years out <strong>of</strong> its last five-years' block, which was unacceptable. TheCommittee decided that as the LOA was being renewed for prospective effect, Dy.Commissioner(Customs) may recover duties, if any, for the intervening period for which theLOA was not valid7. Mis Bhartiya Industries - Review <strong>of</strong> performance.As no representative appeared to explain reasons for non-performance, the Committeedeferred the matter to the next meeting.8. Mis. Art Forever - review <strong>of</strong> performance.No representative appeared before the Committee. The Committee decided to issueShow Cause Notice for cancellation <strong>of</strong> LOA and penalty, if any, under the FT(D&R) Act. TheCommittee empowered DC to issue SCN and take further appropriate decision includingcancellation<strong>of</strong> LOA.9. MI s India Craftloom - Review <strong>of</strong> performance.The representative informed that they were not having export orders for their productsand were in the process <strong>of</strong> marketingtheir product overseas. He assured that within a year theywould succeed in obtaining export orders and re-commence operations. In view <strong>of</strong> this, as perthe request <strong>of</strong> the Unit-representative, the Committee decided to watch the unit's performance~~neyear, to be reviewed after one year.
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Minutes of Meeting held on 13-08-12 - Nsez.gov.in

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