Notification
No. 134/2005, Dated 28-4-2005
Whereas
the Central Government in exercise of the powers conferred by clause (iii)
of sub-section (4) of section 80-IA of the Income-tax Act, 1961 (43 of 1961)
(hereinafter referred to as said Act), has framed, and notified a scheme for
industrial park, by the notification of the Government of India in the Ministry
of Commerce and Industry (Department of Industrial Policy and Promotion) vide
S.O. 354(E) dated the 1st April, 2002, for the period beginning on
the 1 «t day of April, 1997 and ending on the 31st day of March,
2006;
And whereas M/s.
Bagmane Developers Private Limited having its registered office at No.7/2,
Langford Gardens, Bangalore-560 025, has developed, maintains and operates an
industrial park;
And whereas the
Central Government has approved the said Industrial Park subject to terms and
conditions mentioned in the annexure to this notification;
Now, therefore in
exercise of the powers conferred by clause (iii) of subsection (4) of
section 80 IA of the said Act, the Central Government hereby notifies the
undertaking, developed and being maintained and operated by M/s. Bagmane
Developers Private Limited, Bangalore, as an industrial park for the purposes
of the said clause (iii).
The terms and
conditions on which the approval of Government of India has been accorded for
setting up of an industrial park by M/s. Bagmane Developers Private Limited
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(i) |
Name of the Industrial Undertaking |
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M/s. Bagmane Developers Pvt. Limited |
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(ii) |
Proposed location |
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Address: Bagmane Enclave, Khatha No. 66/1,
C.V. Raman Nagar, K.R. Puram Hobli, Bangalore South, Karnatka. |
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District : Bangalore South |
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State : Karnataka |
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Pin Code: |
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Tel No.: |
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Fax No.: |
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(iii) |
Proposed area of Industrial Park |
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52 acres |
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(iv) |
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Proposed activities |
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Nature of industrial activity with NIC code |
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NIC Code |
Description |
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S. No. |
Section |
Division |
Group |
Class |
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A |
8 |
89 |
892 |
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Software supply
services |
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B |
3 |
36 |
367 |
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Hardware
manufacturing |
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C |
3 |
36 |
365 |
365.5 |
Telecom
manufacturing |
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(v) |
Percentage of allocable area proposed
for industrial use |
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95% |
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(vi) |
Percentage of land earmarked for commercial use |
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05% |
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(vii) |
Proposed number of industrial units |
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35units |
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(viii) |
Total investments proposed (Amount of Rupees) |
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Rs.
220.0 crore |
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(ix) |
Investment
on built up space for industrial use (Amount of Rupees) |
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Rs.
120.0 crore |
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(x) |
Investment on Infrastructure Development including
Investment on built up space for industrial use (Amount in Rupees) |
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Rs.
220.0 crore |
2. The minimum
percentage of the area to be allocated for industrial use shall not be less
than sixty-six percent of the total allocable area.
3.
Industrial use shall include any activity defined in the National Industrial
Classification 1987, code issued by the Central Statistical Organisation,
Department of Statistics, Ministry of Planning and Programme Implementation,
except the following codes:
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Section 0 |
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Section 1 |
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Section 5 |
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Section 7 |
excluding Division 75 |
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Section 8 |
excluding Groups 892, 893,894,895 |
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Section 9 |
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Section X |
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Section XI |
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4. The
percentage of land to be earmarked for commercial use shall not be more than
ten percent of the allocable area.
5. In case
of an Industrial Model Town, Industrial Park and Growth Centre, the minimum
investment on infrastructure development shall not be less than 50% of the
total project cost. In the case of an Industrial Park and Growth Centre which
provides built-up space for industrial use, the minimum expenditure on
infrastructure development including cost of construction of industrial space,
shall not be less than 60% of the total project cost.
6.
Infrastructure development shall include, roads (including approach roads],
water supply and sewerage, common effluent treatment facility, telecom network,
generation and distribution of power, air-conditioning and such other
facilities as are for common use for industrial activity which are identifiable
and are provided on commercial terms.
7.
No single unit referred to in column (2) of the Table given in sub-paragraph
(b) of paragraph 6 of S.O. 354(E) dated the 1st April, 2002, shall
occupy more than fifty percent of the allocable industrial area of an
Industrial Model Town or Industrial Park or Growth Centre. For this purpose a
unit means any separate and distinct entity for the purpose of one and more
state or Central tax laws.
8.
Necessary approvals including that for foreign direct investment or non
resident Indian investment by the Foreign Investment Promotion Board or Reserve
Bank of India or any authority specified under any law for the time being in
force, shall be taken separately as per the policy and procedures in force.
9. M/s. Bagmane
Developers Pvt. Limited, Bagmane Enclave, Khatha No.66/1, C.V. Raman Nagar,
K.R. Purm Hobli, Bangalore South Karnataka shall continue to operate the
Industrial Park during the period in which the benefits under clause (iii)
of sub-section (4) of section 801A of the Income-tax Act, 1961 are to be
availed.
10. The Central
Government may withdraw the above approval in case the Bagmane Developers
Private Limited, Bangalore fail to comply with any of the conditions in the
grant of approval.
11. Any amendment of the project plan without the approval
of the Central Government or detection in future, or failure on the part of the
applicant to disclose any material fact, will invalidate the approval of the
industrial park.
[F. NO. 178/24/2004-ITA-l]