14 FDI Proposals Approved

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on January 18, 2010, Government has approved 14 Proposals of Foreign Direct Investment amounting to Rs. 732.57 Crore approximately.

Sl. No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows (Rs. In Crore)

1

M/s Celebi Hava Servisi A.S, Turkey

To acquire 74% equity shares of a company engaged in Ground Handling Services.  The proposal attracts Press Note 1 of 2005.

0.0074

2

M/s Aginyx Enterprises Ltd., Cyprus

Acquisition of equity shares, from NR to NR, of Multi Commodity Exchange of India Limited engaged in the business of future trading in commodities.    

No Fresh Inflow

3

M/s Safran Aerospace India Pvt. Ltd., Bangalore

To undertake additional activity of development of software and other allied IT enabled services such as engineering and designing in the defence sector and export to various international customers.

No Fresh Inflow

4

M/s Isolux Corsan Concessions Cyprus Limited, Cyprus

To set up a WOS in India as an ‘Investing Company’ for downstream investment in another Indian company mainly to invest in the development of infrastructure projects in India.

2.00

5

M/s Macquarie India Infrastructure Management Holdings Pte. Ltd., Singapore

To make investment in the units of Fund.

0.0045

6

M/s Unitech Wireless (Tamilnadu) Pvt. Ltd., Delhi

To act as an operating cum investing company by holding 100% shares to undertake National/International Long  Distance Services

No Fresh Inflow

7

M/s K.S. Oils Ltd.

Ex-post facto approval for issue of warrants.

The company is engaged in the manufacturing of hydrogenated oils, vanaspati ghee, vegetable oils and fats, Power generation-wind mills 

Nil

8

M/s Standard Chartered Bank

To increase FDI from 74.9% to 100% in the company engaged in equity broking investment banking, portfolio management.  The proposal attracts Press Note 1 of 2005.

205.95

9

M/s Asset Reconstruction Company (India) Ltd (Arcil)

To increase FDI from 14.66% to 16.01% in a company engaged in the Asset Reconstruction activities.

272.86

10

M/s NDTV Imagine Ltd.

Transfer of 100% equity from NR to NR to carry out up-linking/broadcasting of non-news and non-current affairs television channels.

Not indicated

11

M/s NDTV Lifestyle Ltd.

Addition of foreign collaborator and issue of fresh equity to carry out up-linking/broadcasting of non-news and non-current affairs television channels. 

251.75

12

M/s Sahara One Media and Entertainment Ltd.

To delete one of the condition of the FC approval.

Nil

13

M/s Wartsila India Ltd.

To make downstream investment from internal accruals in a project company.

Nil

14

M/s Kirkstone India Pvt. Ltd., Delhi

To issue shares against the pre-incorporation expenses.

No Fresh Inflow

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Putzmeister Concrete Pumps GmbH, Germany

Ex-post facto approval for setting up of WOS to undertake manufacturing, marketing and sale of concrete pumps, other related products and rendering related after- sales services.  The proposal attracts Press Note 1 of 2005.

2

M/s Arkadin SAS, France

Acquisition of equity stake up to 60% in the paid up share capital of a company engaged in the telecom sector.

3

M/s Etisalat DB Telecom Private Limited, Mumbai

Transfer of shares from Resident to Non-Resident of a company engaged in the Telecom Sector.

4

M/s Shree Ram Urban Infrastructure Limited, Mumbai

To issue and allot warrants on preferential basis to the identified foreign investors to carry out Infrastructure, development of land and construction of buildings.

5

M/s Tikona Digital Network Pvt. Ltd.

To enhance the FDI to 74% by issue of Compulsorily Convertible Debentures (CCDs) and equity shares to existing foreign investors and new foreign investors.

6

M/s Walt Disney Company (I) Pvt. Ltd.

To undertake additional activity of printing and publication of a speciality magazine.

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 Visa Infrastructure Ltd., Kolkata

To issue shares for consideration other than cash.

9

M/s Bharat Oman Refineries Ltd. (BORL)

To amend the FC approval.

10

M/s Telcordia Technologies Inc. USA

To review the proposal on the request of MHA.

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Ascendas IT Park (Pune) Pvt. Ltd., Pune

Ex-post facto approval for issue of partly paid equity shares to undertake the development of Special Economic Zone.

2

M/s Geomysore Services (India) Pvt. Ltd.

Ex-post facto approval for issue of partly paid convertible options.

3

M/s Telstra Telecommunications Pvt. Ltd., Mumbai

To issue fresh equity shares for increasing FDI from 49% to 74% in a company engaged in the telecom services.

4

M/s Global Holding Corporation Pvt. Ltd.

To amend the FC approval.

            Sl. No

Name of the applicant

Particulars of the proposal

FDI/NRI inflows (Rs. In Crore)

1

M/s Unitech Limited, Gurgaon

waiver of the lock in requirement under clause b(ii) of press note 2 of 2005 (series).

2400.00

2

M/s Mercer Inc. New York

To set up a JV company in the insurance sector. The proposal attracts PN 1 of 2005.

Not indicated

The following 01 (One) proposal has been recommended for the consideration of CCEA, as the investment involved in the proposals is above Rs. 600.00 Crore.

Sl. No

Name of the applicant

Particulars of the proposal

FDI/NRI inflows (Rs. In Crore)

1

M/s India Infrastructure Development Fund Ltd., Mauritius, Mauritius

To issue units to FUND. 

2500.00