Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on 18th November, 2008, Finance Minister, Shri P. Chidambaram has approved 32 Proposals of Foreign Direct Investment amounting to Rs. 845.70 Crore approximately. The proposals relate to Ministries/Departments, namely, Commerce, Economic Affairs, Information & Broadcasting, Mines, Road Transport & Highways, Telecommunication, Industrial Policy & Promotion, Power, Urban Development, and Shipping.
Details of proposals approved are as follows:
|
Sl. No. |
Name of the applicant |
Particulars of the proposal |
FDI/NRI inflows (Rs. In Crore) |
COMMERCE
|
1 |
M/s A.Y.N. Accessories Trading Ltd., (2) M/s BODO Jagdberg Hong Kong Ltd., Hong Kong |
Induction of FDI to undertake trading and export of accessories of items sourced from small scale sector. |
0.50 |
|
2 |
M/s Allergan Inc. USA |
To set up a WoS to carry out B2B sale. The proposal attracts Press Note 1 of 2005. |
0.51 |
|
3 |
Mr. Pawan Sukhdev |
Transfer of shares to NRI in Tea plantation sector. |
1.95 |
ECONOMIC AFFAIRS
|
4 |
M/s Reid & Tailor (India) Ltd., Mumbai |
To allot and issue equity shares warrants. |
108.33 |
|
5 |
M/s IL&FS Waste Management & Urban Services Ltd., New Delhi |
To induct FDI in an Indian company having existing downstream ventures. |
5.33 |
|
6 |
M/s Oriental Structural Engineers Pvt. Ltd., New Delhi |
Transfer of shares to set up a holding company. |
450.00 |
|
7 |
M/s Oil India Ltd., Noida |
Conversion of operating company into an operating cum holding company and IPO issue. |
Not indicated |
|
8 |
M/s Sequoia Capital India Investments III Mauritius |
Induction of FDI in holding cum operating company engaged in the Insurance sector and to allot Compulsorily Convertible Preference Shares. |
9.52 |
|
9 |
M/s True Developers Pvt. Ltd., Chennai |
Conversion of operating company into an operating cum holding company to make further downstream investment. |
No Fresh Inflow |
|
10 |
M/s Trans Union International Inc. USA |
To purchase and acquire fully paid up equity shares to invest in Credit Information Companies. |
2.49 |
|
11 |
M/s A.L.L. Services Under 1 Roof (I) Pvt. Ltd., Mumbai |
Post Facto approval for conversion of operating company into an operating cum holding company to make further downstream investment. The proposal also attracts Press Note 1 of 2005. |
No Fresh Inflow |
|
12 |
M/s Morgan Stanley India Capital Pvt. Ltd., Mumbai |
Conversion of operating company into an operating cum holding company to make further downstream investment to carry out the primary dealership activities. |
No Fresh Inflow |
|
13 |
M/s Amtech Software Pvt. Ltd., Delhi |
Conversion of operating company into an operating cum holding company to make further downstream investment. |
25.00 |
|
14 |
M/s ORG Informatics Ltd., Gurgaon |
Post Facto approval for issue of equity share warrants. |
7.19 |
|
15 |
M/s ADEA Technologies Pvt. Ltd., Secunderabad |
Transfer of shares by way of share swap. |
No Fresh Inflow |
|
16 |
Dr. Oetker India Pvt. Ltd. Mumbai |
Conversion of operating company into an operating cum holding company to make further downstream investment. |
110.40 |
INFORMATION & BROADCASTING
|
17 |
M/s Television Eighteen India Ltd. |
To Launch three new regional business news channels. |
No Fresh Inflow |
|
18 |
M/s Connoisseur Publishing Pvt. Ltd., Bangalore |
To induct FDI up to 100% in print media sector. |
0.01 |
|
19 |
M/s Reed Elsevier Overseas B.V., Netherlands |
Induction of foreign equity by way of equity shares/ compulsory convertible preference shares/ compulsorily convertible debentures to undertake the additional activities of publishing of specialty magazines. |
0.05 |
|
20 |
M/s Hill & Knowlton, Singapore |
To set up a WoS. The proposal attracts Press Note 1 of 2005. |
0.10 |
MINES
|
21 |
M/s Laviosa Chimica Mineraria S.P.A. Italy |
To subscribe and hold equity shares of a company proposed to be incorporated pursuant to joint venture agreement. The proposal attracts Press Note 1 of 2002. |
2.20 |
ROADS TRANSPORT & HIGHWAYS
|
22 |
M/s Vijaywada Tollway Pvt. Ltd., Hyderabad |
Induction of foreign equity in a company. The proposal attracts Press Note 1 of 2005. |
15.00 |
INDUSTRIAL POLICY & PROMOTION
|
23 |
M/s. Cholamandalam DBS Finance Ltd. |
Post facto approval for allotment of warrants to existing non-resident shareholders. |
No Fresh Inflow |
INFORMATION & BROADCASTING
|
24 |
M/s. Vijay Television Pvt. Ltd. |
To make downstream investment in a company engaged in Up-linking a Non News current affair TV channels. |
No Fresh Inflow |
|
25 |
M/s. Star India Pvt. Ltd. |
To undertake Uplinking and down linking of channels and transfer of shares to Non Resident shareholders. |
No Fresh Inflow |
ECONOMIC AFFAIRS
|
26 |
M/s. Gallagher Mautitius Holdings, Mauritius |
Transfer of shares by way of share swap in IT sector. |
No Fresh Inflow |
|
27 |
M/s . Pridhvi Asset Reconstruction and Securitization Company |
Issue of shares to NRIs. The company is engaged in Asset Reconstruction and Securitisation activities. |
30.00 |
INFORMATION & BROADCASTING
|
28 |
M/s. Yellowfin Holdings Ltd., Mauritius |
To set up a WOS to carry out the activity of publishing printed magazines (not being newspapers and periodicals dealing with news and current affairs). |
0.01 |
TELECOMMUNICATION
|
29 |
M/s. XCEL Telecom Pvt. Ltd. |
Transfer of shares from Non-Resident to another Non-Resident in the Telecom sector. |
No Fresh Inflow |
URBAN DEVELOPMENT
|
30 |
M/s. Drillmec S.R.L. Spain |
To set up a WoS to carry out the renting of construction of demolition equipment. |
2.00 |
INDUSTRIAL POLICY & PROMOTION
|
31 |
M/s. Federal Mogul Corp |
To set up a new WOS to undertake Manufacture, distribution and sale of sealing products and gaskets. Proposal attracts Press Note 1 (2005 series) |
74.87 |
SHIPPING
|
32 |
M/s. CMA CGM Agencies Worldwide |
Post facto approval for conversion of operating company into an operating cum holding company to make further downstream investment |
0.24 |
2. The following 4 (Four) proposals have been deferred:
|
Sl. No |
Name of the applicant |
Particulars of the proposal |
|
1 |
M/s GSR Sugars Pvt. Ltd., Hyderabad |
To issue share option convertible into equity shares. |
|
2 |
M/s Lokmat Newspapers Pvt. Ltd., Mumbai |
(i) Induction of FDI in a company engaged in Print Media, (ii) Conversion of operating company into an operating cum holding company to make further downstream investment, and (iii) allotment of additional shares pursuant to the Scheme of demerger of the publication business through a scheme of demerger to be approved by the Hon'ble Bombay High Court. |
|
3 |
M/s Prithvi Prakashan Pvt. Ltd., Mumbai |
To invest by subscribing to fresh equity shares and by acquiring existing equity shares in the business of printers and publishers of newspapers, magazines and periodicals, journals books and works and FM Broadcasting. |
|
4 |
M/s Dow Jones & Company Inc., USA |
To make a WoS to carry out the publishing of facsimile editions of newspapers. |
3. The following 3 (Three) proposal has been rejected:
|
Sl. No |
Name of the applicant |
Particulars of the proposal |
|
1 |
M/s. Nagarjuna Construction Co. Ltd. |
To make amendment in two clauses of the FC approval letter. |
|
2 |
M/s . Inuit U.S. Holdings Inc. USA |
To acquire equity share capital through multiple stock market transactions. |
|
3 |
M/s. Delight Investments Pte Ltd., Singapore |
Induction of foreign equity in two Indian companies and to convert their status from operating company into operating -cum-holding company for making further downstream investments |
4. The following 2 (Two) proposals have been withdrawn from the Agenda.
|
Sl. No |
Name of the applicant |
|
1 |
M/s. Ansal Properties & Infrastructure Ltd., New Delhi |
|
2 |
M/s. Jaipur Mahua Tollway Pvt. Ltd., Rajasthan |
BSC/SS/HN/DN-305
