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Govt approved 6 Proposals of Foreign Direct Investment Amounting to Rs. 232.67 crore
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Posted Date : 23-Mar-2012 , 08:10:07 am | Posted By CASANSAAR |
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on March 2, 2012, the CentralGovernment has approved sixteen (16) proposals of Foreign Direct Investment amounting to Rs. 232.67 crore approximately.
Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 02.03.2012
Following 16 (Sixteen) proposals have been approved:
Sl. No.
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Name of theapplicant
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Particulars of the proposal
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FDI/NRIinflows (Rs. In crore)
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ECONOMIC AFFAIRS
1
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M/s SelanExploration Technology Ltd.
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Ex-post facto approval for issue of convertible warrants to an NRI without prior approval of FIPB. The company is engaged in the business of onshore oil and gas production.
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Nil
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FINANCIAL SERVICES
2
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M/s GajrajCommercial Pvt. Ltd., West Bengal
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Approval for not complying with the NBFC capitalization within the stipulated 24 months and carrying on business only for recovery of loans and closing NBFC business.
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No Fresh Inflow
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HEALTH & FAMILY WELFARE
3
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M/s SphaeraPharma Private Limited, Delhi
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Induction of foreign direct investment to carry on the business of drug discovery and development.
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0.02
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REVENUE
4
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M/s BoskalisInternational B.V., Netherlands
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To set up an LLP to undertake the activities of dredging and in maritime segment.
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1.00
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TOURISM
5
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M/s SukhmaniInternational Pvt. Ltd.
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Post-facto approval for allotment of shares to NRI investors towards pre-incorporation/preliminary expenses.
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Nil
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URBAN DEVELOPMENT
6
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M/s Green Destinations Holdings, Mauritius
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To transfer equity shares before the expiry of lock in period.
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Nil
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INDUSTRAIL POLICY & PROMOTION
7
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M/s BecktonDickinson India Pvt. Ltd.
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To amend the Clause 4 of the FC approval. The company is engaged in the manufacture of Hypodermic needles and syringes and other highly advanced diagnostic and medical equipments.
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Nil
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NEW & RENEWABLE ENERGY
8
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M/s CIIE Initiatives (13E Trust)
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Increase in foreign investment percentage in the Trust.
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40.00
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CIVIL AVIATION
9
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M/s RossellAviation Pvt. Ltd., Delhi
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Induction of foreign equity to undertake the business in civil & defence aviation field with focus on product support services, repair and maintenance facility, providing training solutions in project primarily relating to the offset obligation in India to aviation industry.
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1.36
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HEALTH & FAMILY WELFARE
10
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M/s SoftgelHealthcare Pvt. Ltd., Chennai
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Ex-post-facto approval for allotment of shares in pharmaceuticals sector (brownfield investment).
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10.00
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INFORMATION & BROADCASTING
11
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M/s Fine Publishing India Pvt. Ltd.
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Induction of foreign equity to carry out the business of publishing specialty/technical magazines covering the subject of wine and champagne.
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0.05
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12
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M/s JeevanTelecasting Corporation Ltd.
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Post-facto approval to ratify NRI investment.
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Nil
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POSTS
13
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M/s Royale Asia Couriers Pvt. Ltd., Chennai
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Induction of foreign equity to carry out the business ofinternational courier operations.
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0.24
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14
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M/s VRL Logistics Ltd., Karnataka
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Induction of foreign equity to carry out the business of transportation of goods and passengers Courier services other than postal services, aircraft charter services, and wind power generation, involving the installation and sale of electricity produced by wind power generators.
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175.00
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REVENUE (CUSTOM)
15
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M/s Heinemann Asia Pacific Pte. Ltd., Singapore
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To set up a WoS company for the purpose of undertaking the activities of setting up duty free shop at ChhatrapatiShivaji international airport, Mumbai.
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5.00
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ECONOMIC AFFAIRS
16
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M/s Reasoning Global e-Application Ltd.
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Ex-post facto approval for issue of partly paid shares. The company is engaged in the business of development of software, web-development and economic activities which provide online, interactive websites for the posting, promotion, search, sale and resale of items via global computer network (Internet).
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Nil
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The following 21 (Twenty one) proposals have been deferred:
Sl. No
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Name of the applicant
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Particulars of the proposal
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1
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M/s Advent Business Credit Development Company Pvt. Ltd., Pune
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Post facto approval for (i) undertaking wholesale trading activity since during year 2000-01 to 2001-02; (ii) issue of equity shares against pre-incorporation loan; (iii) transfer of equity shares from two resident Indian to Uni-cash or their nominees; and (iv) to set up and operate an Industrial Park in terms of Press Note 2 of 2000.
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2
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M/s Domino Printing Sciences Plc., UK
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Conversion of a company with FDI, into an LLP. The company is engaged in the business of manufacturing Coding of marking, printing equipment.
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3
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M/s Quest Global Manufacturing Pvt. Ltd., Bangalore
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To undertake machining of aerospace parts including structural parts for defence and participate in defence offset programs.
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4
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M/s Mahindra and Mahindra Limited, Mumbai
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To set up a JV company to develop, manufacture and provide service support for radar systems and various kinds of defence electronic systems and various kinds of defence electronic systems.
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5
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M/s YourNest Angel Fund Trust
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Induction of foreign investment in a Trust.
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6
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M/s HSBC Insurance Services Holdings Limited, London
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Infusion of foreign investment into an Indian company which does not have any operations and also does not have any downstream investments.
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7
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M/s PlethicoPharmaceuticals Limited, Mumbai
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Induction of foreign direct investment to carry out the business of drug discovery and development.
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8
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M/s MathleticsPrivate Limited, Kolkata
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Conversion of a Private Limited company in to a Limited Liability Partnership having foreign investment.
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9
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M/s Trizetto India Private Limited, Pune
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Conversion of a Private Limited company in to a Limited Liability Partnership having foreign investment.
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10
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M/s Nilayami Realtors Private Limited, Mumbai
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Post-facto approval for issuance of partly paid up shares.
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11
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M/s SamvardhanaMotherson Finance Ltd.
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Increase in foreign equity in the investing company.
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12
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M/s Network 18 Media & Investment Ltd.
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To undertake the additional business of Publishing Business’.
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13
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M/s Ankur Drugs andPharma Ltd., Mumbai
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To issue warrants to carry out the business of manufacturing of pharmaceutical formulations.
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14
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M/s Dia Vikas Capital Pvt. Ltd., Gurgaon
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Ex-post-facto approval for non-compliance with minimum capitalization norms for limited period of 72 days from July 21, 2010 to September 2010. The company is engaged in the business of providing financial support to various Micro Finance Institutions in India.
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15
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M/s Packt Publishing Private Limited, Mumbai
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Induction of foreign equity to carry out the business of writing, editing, summarising, compiling, printing, publishing, buying, selling, importing, exporting, circulating or otherwise dealing in books publication and any other information or data pertaining to all areas and sectors such as computer and information technology.
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16
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M/s Reed Elsevier India Pvt. Ltd.
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To undertake the additional activity relating to the business of publishing and co-publishing (in and outside India), including digital publishing, printing, reprinting, adaptation, article reprinting, repackaging, translation, distribution of scientific, technical, medical, specialty and research journals/magazines/periodicals in any media including print media
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17
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M/s CatvisionLimited, Noida
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To increase foreign equity participation to carry out the business of manufacture of CATV equipment, selling CATV equipment like Dish Antenna, other CATV equipment, cables, energy management equipment and repair of apparatus for television transmission, other business services.
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18
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M/s CellcastInteractive India Pvt. Ltd., Mumbai
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To undertake the additional activities of setting up of three Non-news and current affairs Television channels in Hindi, Tamil and Telugu in India.
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19
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Category : Finance |
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