21 Apr 2012

22 FDI Proposals Amounting to Rs. 586.137 Crore Approved


Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on March 30, 2012, Government hasapproved 22 Proposals of Foreign Direct Investment amounting to Rs. 586.137 crore approximately. 

Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 30.03.2012     

            Following 22 (Twenty two) proposals have been approved.

Sl. No.
Name of the applicant
Particulars of the proposal
FDI/NRIinflows
(Rs. In crore)
ELECTRONICS & INFORMATION TECHNOLOGY
1
M/s Mirali E-Solutions LLP, Mumbai
Induction of foreign equity in LLP to carry out the business of Software development & IT enabled Services.
0.005
STEEL
2
M/s Bhushan Steel Limited, New Delhi
To undertake a rights issue of equity shares to the existing equity shareholders of the company, including NRIs, on rights basis (Rights Issue) on a partly paid up basis.  The company is engaged in the business of steel production under automatic sector.
8.17
HEALTH & FAMILY WELFARE
3
M/s Shantha BiotechnicsLtd.
Increase in foreign equity in brownfield pharmaceutical sector to carry out the activities of research, development, manufacturing and marketing of recombinant-DNA based bio-tech products and other bio-generics.
514.00
INDUSTRIAL POLICY & PROMOTION
4
M/s Putzmeister Concrete Machines Pvt. Ltd.
Capitalisation of import payables to carry out the business of manufacturing, marketing and sale ofPutzmeister range of concrete pumps, other related products and rendering related after-sales services.
Nil
5
M/s Smithkline Beecham Pvt. Ltd.
Transfer of shares from NR to NR in existing pharmacompany. 
Nil
6
M/s Bangla Entertainment Pvt. Ltd.
To amend activities from “Bengali language television channel” to “non-news and current affairs television channels”.
Nil
7
M/s Akorn Inc., USA
To amend the FC approval regarding indirect investment by the applicant in brownfield pharma sector.
Nil
DEFENCE PRODUCTION
8
M/s Ashok LeylandDefence Systems Ltd., Chennai
To undertake defence related activities.
10.00
ECONOMIC AFFAIRS
9
M/s CSR Technology (India) Pvt. Ltd., Delhi
Ex-post facto approval for the initial capital investment made by two resident Indians on behalf of the foreign company to undertake design, development and testing services for GPS Chips Sets.
0.01

INDUSTRIAL POLICY & PROMOTION
10
M/s Springer (I) Pvt. Ltd.
To increase foreign equity upto 100% to carry out the business of publishing and re-printing of scientific, technical, medical and other no-fiction books in electronic and printed forms in any language.
4.24
11
M/s Springer Editorial Services Pvt. Ltd.
To increase foreign equity upto 100% to carry on the business of  publishing services, content, development, content management, content outsourcing, providing a comprehensive service including data conversion, editorial services, pre-press, pre-media services, digital communication services, data based management, digitization services, data based engineering
12.87
12
M/s Sterlite Grid Ltd.
To amend approval to clarify permissibility of downstream through internal accruals.
Nil
COMMERCE
13
M/s Advent Business Credit Development Company Pvt. Ltd., Pune
Post facto approval for (i) undertaking wholesale trading activity since during year 2000-01 to 2001-02; (ii) transfer of equity shares from two resident Indian to Uni-cash or their nominees; and (iii) to set up and operate an Industrial Park in terms of Press Note 2 of 2000.
9.002
CORPORATE AFFAIRS
14
M/s Domino Printing Sciences Plc., UK
Conversion of a company with FDI, into an LLP.  The company is engaged in the business of manufacturing Coding of marking, printing equipment.
No Fresh Inflow
DEFENCE PRODUCTION
15
M/s Mahindra and Mahindra Limited, Mumbai
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 ofdefence electronic systems.
25.99

ECONOMIC AFFAIRS

16
M/s SamvardhanaMotherson Finance Ltd.
Increase in foreign equity in the investing company through Initial Public Offer (IPO).
Not yet furnished
ELECTRONICS & INFORMATION TECHNOLOGY
17
M/s Trizetto India Private Limited, Pune
Conversion of a Private Limited company in to a Limited Liability Partnership having foreign investment.
No Fresh Inflow
FINANCIAL SERVICES
18
M/s HSBC Insurance Services Holdings Limited, London
Infusion of foreign investment into an Indian company which does not have any operations and also does not have any downstream investments.
1.85

HIGHER EDUCATION
19
M/s Mathletics Private Limited, Kolkata
Conversion of a Private Limited company in to a Limited Liability Partnership having foreign investment.
No Fresh Inflow
INDUSTRIAL POLICY & PROMOTION
20
M/s Network 18 Media & Investment Ltd.
To undertake the additional business of Publishing Business through court approval amalgamation.
Nil
INFORMATION & BROADCASTING
21
M/s Reed Elsevier India Pvt. Ltd.
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
Nil
TELECOMMUNICATIONS
22
M/s Cellcast Interactive India Pvt. Ltd., Mumbai
To undertake the additional activities of setting up of three Non-news and current affairs Television channels in Hindi, Tamil and Telugu in India.
No fresh inflow


The following 18 (Eighteen) proposals have been deferred:

Sl. No
Name of the applicant
Particulars of the proposal
1
M/s Tara Aerospace Systems Limited, Mumbai
To undertake additional activities of inter-alia  design, development, engineering, manufacturing, integration, assembly, testing and inspection of military aircrafts (rotor-crafts and fixed-wing aircrafts), including products such as aerospace and aero structures components, kits and accessories in the defence sector.
2
M/s Al Shukur Company For Engineering And Construction LLP, Vadodara
Induction of foreign direct investment into an LLP to carry out the business of engineering services and engineering products.
3
M/s Sunraj Diamond Exports Limited, Mumbai
Transfer of shares by way of share swap to carry out the business of cleaning, polishing and selling of Diamonds.
4
M/s SNC-Lavalin Mauritius Limited, Mauritius
Induction of foreign equity in an investing company.
5
M/s Ordain Health Care Global Pvt. Ltd., Chennai
Induction of foreign investment in an existing company engaged in the business of manufacturing, research & development for technology advancement, and marketing of pharmaceutical finished dosage formulations.
6
M/s Sutures India Private Limited, Bangalore
Induction of foreign investment in an existing company engaged in the business of manufacturing and export of sutures, surgical tapes, mesh bone wax, atraumatic needles, skin staplers and surgical gloves.
7
M/s Arch PharmalabsLimited, Mumbai
Induction of foreign investment in an existing company engaged in the business of manufacture and sale of Active Pharmaceutical Ingredients and contract research and manufacturing services.
8
M/s Kintetsu World Express (India) Pvt. Ltd., Karnataka
Induction of foreign equity to carry out the business of express distribution, supply chain and third party logistics services.
9
M/s Apotex Research Pvt. Ltd.
Increase in foreign equity to undertake research and development focused on developing and producing carious types of dosage forms of Active Pharmaceuticals, sale and distribution of solid dose products and other products of the Apotex Group, compile the pharmaceuticals product dossier and coordinate bio-equivalence studies in India.
10
M/s Netmagic Solutions Pvt. Ltd.
Increase in foreign equity upto 74 percent and induction of a new foreign collaborator to undertake the business of Internet Service Provider with gateways. 
11
M/s CLSA Singapore Holdings Pte Ltd., Singapore/ M/s CLSA Limited, Hong Kong
Induction of foreign equity in an investing company to carry on the business of process outsourcing services for clients, both domestic and offshore.
12
M/s InterCall Asia Pacific Holdings Pvt. Ltd., Singapore
To set up a WOS to undertake the business of providing audio, video and web conferencing services for business, commercial, banking and other establishments.
13
M/s Microqual Techno Ltd., Mumbai
Increase in foreign equity to carry out the business of wireless telecommunications.
14
M/s Ankur Drugs andPharma Ltd., Mumbai
To issue warrants to carry out the business of manufacturing of pharmaceutical formulations.
15
M/s PlethicoPharmaceuticals Limited, Mumbai
Induction of foreign direct investment to carry out the business of drug discovery and development.
16
M/s Packt Publishing Private Limited, Mumbai
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.
17
M/s Catvision Limited,Noida
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.
18
M/s Nilayami Realtors Private Limited, Mumbai
Post-facto approval for issuance of partly paid up shares.


The following 5 (Five) proposals have been rejected:

Sl. No
Name of the applicant
Particulars of the proposal
1
M/s Verga Attachments Pvt. Ltd., Karnataka
Ex-Post facto approval to allot Compulsorily Convertible Debentureagainst amount received through invocation of bank guarantee to carry out the business of manufacturing of parts and accessories, necessary for machinery/equipment used by construction and mining industries.
2
M/s Quest Global Manufacturing Pvt. Ltd., Bangalore
To undertake machining of aerospace parts including structural parts for defence and participate in defence offset programs.
3
M/s YourNest Angel Fund Trust
Induction of foreign investment in a Trust.
4
M/s Dia Vikas Capital Pvt. Ltd., Gurgaon
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.
5
M/s Kakade British Realties Private Limited, Pune
Approval for non-compliance with the condition regarding completion of 50 % project within 5 years from the date of obtaining all statutory clearances.                  


The following 01 (One) proposal has been withdrawn:

Sl. No
Name of the applicant
1
M/s Nikit Investments Private Limited, Andhra Pradesh


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