Home India Ministry of Commerce and Industry Whereas M s Modern Asset Phase II has proposed under section...
Date: 2017-03-31 Category: Extra Ordinary State: Union Government Country: India

Whereas M s Modern Asset Phase II has proposed under section 3 of the Special Economic Zones Act

Issued by Ministry of Commerce and Industry · Department of Commerce

Research with AI Agent Chat with Document Generate Summary Translate Helpful Share Add to Project Create Task

Executive Summary & Key Takeaways

Executive Summary: This notification announces the establishment of a Sector Specific Special Economic Zone for IT/ITES at Survey No. 22, Venkatala Village, Yelahanka Hobli, Bengaluru, Karnataka. It designates the area as a Special Economic Zone and Inland Container Depot, effective March 31, 2017. It also constitutes an Approval Committee for the zone. Key Points / Main Content: * **Special Economic Zone Establishment:** * Ms. Modern Asset Phase II proposed the establishment, approved under Section 3 of the Special Economic Zones Act, 2005. * 3.22 hectares at Survey No. 22 of Venkatala Village is notified as a Special Economic Zone. * **Approval Committee Formation:** * A committee is formed for the Special Economic Zone as per Section 13 of the Special Economic Zones Act, 2005. * The committee includes the Development Commissioner (Chairperson), representatives from various government departments (Commerce, Foreign Trade, Customs, Income Tax, Finance, State Government), and a representative of the Zone Developer (Special invitee). * **Inland Container Depot Designation:** * Effective March 31, 2017, the Special Economic Zone is designated as an Inland Container Depot under Section 7 of the Customs Act, 1962. Impact Analysis: * **Modern Asset Phase II (Developer):** * Impact: Responsible for the development, operation, and maintenance of the Special Economic Zone. Has a representative as a special invitee on the Approval Committee. * Action Required: Coordinate with the Approval Committee and relevant authorities for zone development and operation. * **Central Government:** * Impact: Oversees the establishment and operation of the Special Economic Zone through relevant ministries and departments. * Action Required: Ensure the effective functioning of the Approval Committee and monitor compliance with the Special Economic Zones Act, 2005 and Customs Act, 1962. * **Approval Committee Members:** * Impact: Responsible for approving matters related to the Special Economic Zone under Section 14 of the Special Economic Zones Act. * Action Required: Participate in committee meetings and fulfill responsibilities as outlined in the Special Economic Zones Act, 2005. * **State Government of Karnataka:** * Impact: Involved in the Special Economic Zone through the nomination of two officers to the Approval Committee. * Action Required: Nominate two officers, not below the rank of Joint Secretary, to serve on the Approval Committee. * **Businesses operating within the SEZ:** * Impact: Benefits from SEZ incentives and regulations. * Action required: Compliance with SEZ regulations and procedures.

Key Entities Referenced

Special Economic Zones Act, 2005: An act of the Indian Parliament to provide for the establishment, development and management of special economic zones for the promotion of exports and for matters connected therewith or incidental thereto. Karnataka: State in India where the Ms. Modern Asset PhaseII Special Economic Zone is located. Bengaluru: City in Karnataka, India, where the Ms. Modern Asset PhaseII Special Economic Zone is located. Ms. Modern Asset PhaseII: Developer that proposed to set up a Sector Specific Special Economic Zone for IT/ITES Venkatala Village: Village in Karnataka, India, where the Ms. Modern Asset PhaseII Special Economic Zone is located. Yelahanka Hobli: Hobli in Bengaluru where the Ms. Modern Asset PhaseII Special Economic Zone is located. Ministry of Commerce and Industry: The Indian government ministry responsible for the formulation of foreign trade policy and promotion of exports. Customs Act, 1962: An act of the Indian Parliament to consolidate and amend the law relating to customs.
Official Source Record View Original Source →
See Full Document Text
jftLVªh laö Mhö ,yö&33004@99 REGD. NO. D. L.-33004/99 vlk/kj.k EXTRAORDINARY Hkkx II—[k.M 3—mi&[k.M (ii) PART II—Section 3—Sub-section (ii) izkf/dkj ls izdkf'kr PUBLISHED BY AUTHORITY la- 920] ubZ fnYyh] 'kqØokj] ekpZ 31] 2017@pS=k 10] 1939 No. 920] NEW DELHI, FRIDAY, MARCH 31, 2017/CHAITRA 10, 1939 ooookkkkffff....kkkkTTTT;;;; ,,,,ooooaa aa mmmm||||kkkkssxxssxx eeee==aa==aa kkkkyyyy;;;; ¼¼¼¼ooookkkkffff....kkkkTTTT;;;; ffffooooHHHHkkkkkkkkxxxx½½½½ vvvvffff////kkkkllllwwppwwppuuuukkkk ubZ fnYyh] 31 ekpZ] 2017 ddddkkkk----vvvvkkkk---- 1111000033332222¼¼¼¼vvvv½½½½----&&&&&&&&;;;;r%] eS- ekWMZu ,LksV ¼Qsl &II½] tks dukZVd jkT; ds losZ uEcj 2@2] xk¡o osadVkyk ;sykgkadk gqcyh] cSaxyq: esa lwpuk IkzkS|ksfxdh ,oa lwpuk IkzkS|ksfxdh lefFkZr lsokvksa ds fy, ,d {ks= fof'k"V fo'ks"k vkfFkZd tksu dh LFkkiuk gsrq fo'ks"k vkfFkZd tksu vf/kfu;e] 2005 ¼2005 dk 28½ ¼ftls ,rn~i'pkr~ mDr vf/kfu;e dgk x;k gS½ dh /kkjk 3 ds varxZr izLrko fd;k gS( vkSj ;r% dsUnz ljdkj bl ckr ls lra q"V gS fd mDr vf/kfu;e dh /kkjk 3 dh mi&/kkjk ¼8½ ds vra xrZ vis{kkvksa rFkk vU; lacaf/kr vis{kkvksa dks iwjk dj fy;k x;k gS vkSj mlus mi;qZDr fo'ks"k vkfFkZd tksu ds fodkl] izpkyu ,oa j[kj[kko gsrq mDr vf/kfu;e dh /kkjk 3 dh mi&/kkjk ¼10½ ds vra xZr fnukad 29 EkkpZ] 2017 dks vuqeksnu i= iznku dj fn;k gS( vr% vc fo'ks"k vkfFkZd tksu vf/kfu;e] 2005 dh /kkjk 4 dh mi&/kkjk ¼1½ }kjk iznÙk 'kfDr;ksa dk iz;ksx djrs gq, vkSj fo'ks"k vkfFkZd tksu fu;ekoyh] 2006 ds fu;e 8 ds vuqlj.k esa] dsUnz ljdkj ,rn~}kjk mi;qDr LFkku ds 3-22 gsDVs;j ds uhps nh xbZ rkfydk esa fn, x, losZ uacj ds {ks= dks fo'ks"k vkfFkZd tksu ds :i esa vf/klwfpr djrh gS] vFkkZr~%& rrrrkkkkffffyyyyddddkkkk ØØØØ---- llllaa--aa-- xxxxkkkk¡¡oo¡¡oo ddddkkkk uuuukkkkeeee lllloooosZsZ sZsZ llllaa[[aa[[;;;;kkkk {{{{kkkks=s=s=s=QQQQyyyy ¼¼¼¼ggggssDDssDDVVVVss;;ss;;jjjj eeeessaa½½ssaa½½ 1- xk¡o osadVkyk 2222@@@@2222 3333----22222222 ddddqqyyqqyy 3333----22222222 vkSj ;r% fo'ks"k vkfFkZd tksu vf/kfu;e] 2005 ¼2005 dk 28½ dh /kkjk 13 dh mi&/kkjk ¼1½ }kjk iznÙk 'kfDr;ksa dk iz;ksx djrs gq,] dsUnz ljdkj ,rn~}kjk mDr vf/kfu;e dh /kkjk 14 ds iz;kstukFkZ mi;qZDr fo'ks"k vkfFkZd tksu ds fy, ,d lfefr] ftls vuqeksnu lfefr dgk tk,xk] xfBr djrh gS] ftlds v/;{k vkSj lnL; fuEukuqlkj gSa] vFkkZr~%& 1- fo'ks"k vkfFkZd tksu dk fodkl vk;qDr v/;{k] insu 2- funs'kd vFkok mi&lfpo] Hkkjr ljdkj] okf.kT; ,oa m|ksx e=a ky;] okf.kT; lnL;] insu foHkkx ;k mldk ukferh ftldk Lrj voj lfpo] Hkkjr ljdkj ls de ugha gksxk 1851 GI/2017 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] 3- fo'ks"k vkfFkZd tksu ij Hkw&Hkkxh; {ks=kf/kdkj j[kus okyk {ks=h; la;qDr fons'k lnL;] insu O;kikj egkfuns'kd 4- fo'ks"k vkfFkZd tksu ij Hkw&Hkkxh; {ks=kf/kdkj j[kus okys lhek'kqYd vk;qDr ;k lnL;] insu dsUnzh; mRikn 'kqYd vk;qDr vFkok mudk ukferh ftldk Lrj la;qDr vk;qDr ls de ugha gksxk 5- fo'ks"k vkfFkZd tksu ij Hkw&Hkkxh; {ks=kf/kdkj j[kus okys vk;dj vk;qDr vFkok lnL;] insu mldk ukferh ftldk Lrj la;qDr vk;qDr ls de ugha gksxk 6- funs'kd ¼cSafdax½] foÙk ea=ky;] cSafdax izHkkx] Hkkjr ljdkj lnL;] insu 7- jkT; ljdkj }kjk ukfer fd, tkus okys nks vf/kdkjh ftudk Lrj la;qDr lfpo lnL;] insu ls de ugha gksxk 8- tksu ds fodkldrkZ dk izfrfuf/k fo'ks"k vkeaf=rh vkSj ;r%] fo'ks"k vkfFkZd tksu vf/kfu;e] 2005 ¼2005 dk 28½ dh /kkjk 53 dh mi&/kkjk ¼2½ }kjk iznÙk 'kfDr;ksa dk iz;ksx djrs gq, dsUnz ljdkj ,rn~}kjk fnukad 31 ekpZ] 2017 dks ml rkjh[k ds :i esa fu/kkZfjr djrh gS ftl rkjh[k ls mi;qZDr fo'ks"k vkfFkZd tksu dks lhek&'kqYd vf/kfu;e] 1962 ¼1962 dk 52½ dh /kkjk 7 ds vra xZr vra nsZ'kh; daVsuj fMiks ekuk tk,xk A [Qk- la- ,Q- 1@4@2017&,lbZtsM] vkyksd o/kZu prqosZnh] vij lfpo MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) NOTIFICATION New Delhi, the 31st March, 2017 S.O. 1032(E).—Whereas, M/s. Modern Asset (Phase-II) has proposed under section 3 of the Special Economic Zones Act, 2005 (28 of 2005), (hereinafter referred to as the said Act), to set up a Sector Specific Special Economic Zone for IT/ITES at Survey No. 2/2, Venkatala Village, Yelahanka Hobli, Bengaluru, in the State of Karnataka; And, Whereas, the Central Government is satisfied that requirements under sub-section (8) of section 3 of the said Act, and other related requirements are fulfilled and it has granted letter of approval under sub-section (10) of section 3 of the said Act for development, operation and maintenance of the above sector specific Special Economic Zone on 29th March, 2017; Now, Therefore, the Central Government, in exercise of the powers conferred by sub-section (1) of section 4 of the Special Economic Zones Act, 2005 and in pursuance of rule 8 of the Special Economic Zones Rules, 2006, hereby notifies the 3.22 hectares area at above location with survey numbers given in the table below as a Special Economic Zone, namely: TABLE S.No. Name of Village Survey No. Area (in hectares) 1. Venkatala Village 2/2 3.22 Total 3.22 And, Therefore, the Central Government, in exercise of the powers conferred by sub-section (1) of section 13 of the Special Economic Zones Act, 2005 (28 of 2005), hereby constitutes a Committee to be called the Approval Committee for the above Special Economic Zone for the purposes of section 14 of the said Act consisting of the following Chairperson and Members, namely:- 1. Development Commissioner of the Special Economic Zone Chairperson ex officio; 2. Director or Deputy Secretary to the Government of India, Ministry of Commerce and Member ex officio; Industry, Department of Commerce or his nominee not below the rank of Under Secretary to the Government of India¹Hkkx IIµ[k.M 3(ii)º Hkkjr dk jkti=k % vlk/kj.k 3 3. Zonal Joint Director General of Foreign Trade having territorial jurisdiction over the Member ex officio; Special Economic Zone 4. Commissioner of Customs or Central Excise having territorial jurisdiction over the Member ex officio; Special Economic Zone or his nominee not below the rank of Joint Commissioner 5. Commissioner of Income Tax having territorial jurisdiction over the Special Member ex officio; Economic Zone or his nominee not below the rank of Joint Commissioner 6. Director (Banking) in the Ministry of Finance, Banking Division, Government of Member ex officio; India 7. Two officers, not below the rank of Joint Secretary, to be nominated by the State Member ex officio; Government 8. Representative of the Developer of the zone Special invitee And, Therefore, the Central Government, in exercise of the powers conferred by sub-section (2) of section 53 of the Special Economic Zones Act, 2005 (28 of 2005), hereby appoints the 31st day of March, 2017 as the date from which the above Special Economic Zone shall be deemed to be Inland Container Depot under section 7 of the Customs Act, 1962 (52 of 1962). [F. No. F.1/4/2017-SEZ] ALOK VARDHAN CHATURVEDI, Addl. Secy. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

Continue your research