TMI Blog32 FDI Proposals approvedX X X X Extracts X X X X X X X X Extracts X X X X ..... 32 FDI Proposals approved - News and Press Release Dated:- 26-11-2008 - News - Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on 18 th 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 Cro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re) 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 exist ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 op ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erating 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., ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 TRANSP ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ORT 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. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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) proposa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ls 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 ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... quiring 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., Singap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ore 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 - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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