10 FDI proposals approved

Sl. No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows (Rs. In Crore)

1

M/s Industria de Diseno Texti, Sociedad Anonima Spain (Inditex S.A.)

To set up a joint venture for retail trading of products under the single brand.

23.58

2

M/s SMS Siemag Aktiengesellschaf, Germany

To set up a joint venture company to carryout the activities relating to manufacture, sale and commissioning of Single Stand Reversing Cold Mills, Skin Pass Mills, Compact Cold Mills and Strip Process Lines.  The proposal attracts Press Note 1 of 2005.

30.00

3

M/s Pridhvi Asset Reconstruction and Securitization Company

To enhance NRI equity participation for undertaking the business of Securitisation and Asset Reconstruction.

1.00

4

M/s Sungard Solutions (India) Pvt. Ltd., Bangalore

To issue fresh equity shares in consideration for transfer of the business, pursuant to a Scheme of Arrangement to be approved by the Bombay High Court and the Karnataka High Court.

No Fresh Inflow

5

M/s Quatrro BPO Solutions Pvt. Ltd., Gurgaon

Ex post-facto approval for issue of equity shares under Employee Stock Options Scheme to the individuals.

Nil

6

M/s Synergy Media Entertainment Ltd.,

To issue and allot fully paid up equity shares by way of Preferential Allotment to carryout FM Radio Broadcasting in various circles in India.

1.52

7

M/s BEE KAYDASS India Pvt. Ltd.

Transfer of shares from Resident shareholders to NRI.  The company is engaged in the tea plantation.

0.009

8

M/s United Breweries (Holdings) Limited, Bangalore

Ex-post facto approval for (i) issue of fully convertible equity warrants, and (ii) for allotment of fully paid up equity shares on conversion of convertible equity warrants.

218.96

9

M/s K S Oils Limited, Madhya Pradesh

The issuance and allotment of warrants (as well as full paid-up equity shares to be issued on conversion of such warrants) to the Foreign Investors.

97.99

10

M/s Dish TV India Ltd.

To issue convertible bonds, convertible into equity shares at a ‘conversion price’ as specified in an offering circular in relation thereto and on terms and conditions mentioned thereunder, to such persons resident outside India, as may be permissible under the applicable laws.

750.00

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Taneja Aerospace and Aviation Ltd., Tamil Nadu

To regularize the FII investment in the Defence Sector.

2

M/s Eads Deutchland GmbH (EADs), Germany and Larsen & Tourbo Limited (L&T), Mumbai

To incorporate a manufacturing Joint Venture company to undertake the production of Defence equipment (manufacture of arms and armaments).

3

M/s Tecnotree Convergence Ltd.,

Transfer of shares by way of share swap.

4

M/s Devas Multimedia Pvt. Ltd.,

To induct fresh foreign equity participation with the induction of a new foreign collaborator.

5

M/s Exensys Software Solutions Ltd.

Ex-post facto approval for issuance of warrants convertible into equity shares.

6

M/s India Rizing Fund

To amend the FC approval.

7

M/s Unitech Wireless (Tamilnadu) Pvt. Ltd

To increase the foreign shareholding up to 74%.

8

M/s Rish Pte Ltd.,

Transfer of shares from OCB to Non-Resident

9

M/s ByCell Telecommunication Pvt. Ltd.,

A decision is required to be taken in the light of the High Court’s directions that any representation made by ByCell is to be considered by FIPB and MHA’s objections to security credentials of the company.

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Asha Micro Credit Limited, Chennai

To induct foreign investment to undertake the activities relating to providing financial services for the up-liftment of poor and the downtrodden sections of the society.  The proposal does not meet the minimum capitalization norms.

2

M/s Cholamandalam DBS Finance Ltd.,

Waiving of the condition of compounding. 

3

M/s Cargil & Financial Services India Pvt. Ltd.,

The company has requested for further time to bring in the additional amount to meet the specified norms of USD 50 million and to allow the CoR granted by the RBI to remain valid as the company continues to be engaged in NBFC business.

Sl. No

Name of the applicant

Particulars of the proposal

FDI/NRI inflows (Rs. In Crore)

1

M/s Credit Information Bureau (I) Ltd.

To acquire equity shares in Credit Information Companies.

96.28

Sl. No

Name of the applicant

Particulars of the proposal

FDI/NRI inflows (Rs. In Crore)

1

M/s Forum Synergies (India) Fund Managers P Ltd.,

To accept contributions from the offshore Entity under the foreign direct investment route and to issue Class B Units and Class C Units to the Offshore Entity.

651.03