12 Foreign Direct Investment Proposals approved
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on July 30, 2010, the Government has approved 12 Proposals of Foreign Direct Investment amounting to Rs. 2305.835 Crore approximately. Following are the details of the proposals considered in FIPB meeting:
The following 12 proposals have been approved.
|
Sl. No. |
Name of the applicant |
Particulars of the proposal |
FDI/NRI inflows (Rs. In Crore) |
ECONOMIC AFFAIRS
|
1 |
M/s Daiwa Securities Capital Markets Co. Ltd., Japan |
To set up a WOS to undertake permitted NBFC activities and Primary Dealership activities. |
34.875 |
TOURISM
|
2 |
M/s MPM Hotels Limited, Hyderabad |
Ex-post-facto approval for the issuance of Partly Paid Equity Shares. |
40.84 |
INDUSTRIAL POLICY & PROMOTION
|
3 |
M/s TransUnion International, Inc. |
To increase foreign equity from 20% to 27.50% to carry out the business of the business of sharing of credit related information on borrowers and potential borrowers and commercial credit related data and using such data. |
28.12 |
|
4 |
M/s Toyota Tsusho Corporation |
To set up a JV company to carry out the business of manufacture, fabrication and processing of steel products and components for automobiles. The proposal attractspara 4.2.2.2 of the Circular No. 1 of 2010 of the Consolidated FDI Policy. |
30.00 |
INFORMATION & BROADCASTING
|
5 |
M/s D.B. Corp Ltd. |
To take note of the demerger and reduction of foreign equity from 26% to 20%. |
Nil |
DEFENCE
|
6 |
M/s Icomm Tele Limited, Hyderabad |
Ex-post-facto approval for induction of foreign equity in defence sector. |
50.00 |
|
7 |
M/s Wipro Ltd. |
To undertake additional activity relating to defence sector. |
Nil |
ECONOMIC AFFAIRS
|
8 |
M/s KKR Mauritius Cement Investments, Ltd., Mauritius |
Induction of foreign equity in an investing company. |
715.00 |
FINANCIAL SERVICES
|
9 |
M/s Shriram City Union Finance Limited, Chennai |
Ex-post facto approval for issue of warrants. |
696.80 |
|
10 |
M/s Star Health Investments Pvt. Ltd., Chennai |
Induction of foreign equity in an investing company. |
160.00 |
HEALTH
|
11 |
M/s Alexandria Real Estate Equities, Inc., USA |
To set up of a WOS to operate and manage fully furnished, staffed and equipped facilities for medical professionals. |
500.00 |
INFORMATION & BROADCASTING
|
12 |
M/s Sea TV Network Limited, Agra |
Induction of foreign equity to carry out the Cable Networking operations. |
50.20 |
Fifteen proposals have been deferred.
|
Sl. No |
Name of the applicant |
Particulars of the proposal |
|
1 |
M/s Lakshmi Machine Works Ltd., Tamil Nadu |
To undertake activities of manufacture parts, components and accessories for aircraft and spacecraft to be supplied to civil and defence sectors. |
|
2 |
M/s Kal Media Services Pvt. Ltd., Chennai |
Induction of foreign equity in an investing company. |
|
3 |
M/s Jeevan Telecasting Co Ltd |
Ex-post-facto approval to ratify the NRI investment to carry out the uplinking of news and current affairs channel. |
|
4 |
M/s DLF Limitless Developers Pvt. Ltd., Delhi |
Transfer of shares from NR to Resident prior to expiry of 3 years from completion of minimum capitalization norms of the company. |
|
5 |
M/s Karuturi Global Limited, Bangalore |
Ex-post-facto approval for issuance and allotment warrants to carry out the business of Floriculture & Food processing. |
|
6 |
M/s Advanta India Limited, Hyderabad |
To issue and allot Rights Equity Shares, CCPS and Warrants to carry out the business of research, development, production, distribution and marketing of hybrid agricultural field crop seeds and plant seed. |
|
7 |
M/s Verizon Communications India Pvt. Ltd. |
Transfer of equity shares from non-resident shareholder to non-resident group in Telecom Sector. |
|
8 |
M/s Pran Beverages (India) Pvt. Ltd., Kolkata |
Induction of foreign equity by a Bangladeshi company. |
|
9 |
M/s Zee Entertainment Enterprises Ltd |
Transfer of shares by way of share swap. |
|
10 |
M/s Bharat Broadcasting Network Ltd. |
Ex-post-facto approval for transfer of shares to NRI to carry out the business of uplinking news and current affairs channel. |
|
11 |
M/s Asian Genco Pte Ltd., Singapore |
To set up an investing company. |
|
12 |
M/s. Etisalat DB Telecom Private Limited |
Transfer of shares from Resident to Non-Resident of a company engaged in the Telecom Sector. |
|
13 |
M/s Essar Capital Holdings (India) Ltd., Mumbai |
Acquisition of equity shares by way of subscripttion to new equity shares and/or purchase of existing equity shares in an investing company engaged in the telecom sector. |
|
14 |
M/s Alan Dick & Company (India) Pvt. Ltd., Thane |
To undertake the additional activity relating to infrastructure provider (IP Category I). |
|
15 |
M/s UTStarcom India Telecom Pvt. Ltd |
To undertake additional activity relating to Telecom sector. |
However, three proposals have been rejected.
|
Sl. No |
Name of the applicant |
Particulars of the proposal |
|
1 |
M/s DVA India Chemicals Pvt. Ltd., Mumbai |
Ex-post-facto approval for the issuance of Equity Shares against the pre incorporation expenses to carry out the business of crop protection chemicals. |
|
2 |
M/s Alligator Ventilfabrik GmbH, Germany |
To set up a wholly owned subsidiary as an Investing Company. |
|
3 |
M/s Simplast India Pvt., Ltd. |
Ex-post-facto approval for allotment of equity share against debt created due to payment made for raw material – representation against rejection. |
