TMI Blog14 FDI Proposals Worth Rs. 1289.85 Crore ApprovedX X X X Extracts X X X X X X X X Extracts X X X X ..... 14 FDI Proposals Worth Rs. 1289.85 Crore Approved - News and Press Release Dated:- 23-3-2011 - News - Press Information Bureau Government of India Ministry of Finance 23-March-2011 17:29 IST 14 FDI Proposals Worth Rs. 1289.85 Crore Approved Basedonthe recommendations ofForeignInvestmentPromotionBoard(FIPB) in itsmeetingheld onMarch11, 2011,Government of Indiahasapproved14 Proposals of ForeignDirectInvestment (FDI) amountingtoRs. 1289.85 crore approximately. Following 14 (Fourteen) proposals have been approved . Sl. No. Name of the applicant Particulars of the proposal FDI/NRI inflows ( Rs. i n crore) CONSUMER ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AFFAIRS 1 M/s MFGlobalSifySecuritiesIndiaPvt. Ltd., Mumbai Ex-post factoapproval(i)forsettingup ofstepdownsubsidiaries,includinginCommodityBrokingand(ii) touseinternalaccruals/free reserves tomakedownstreaminvestmentsrequiredtomeettheminimumcapitalizationnorms. Nofreshinflow ECONOMIC AFFAIRS 2 M/s UnihornIndiaPvt. Ltd., Delhi Haryana Ex-post factoapprovalforissueandallotmentof partlypaidupRightsEquityshares tocarryoutthebusinessoftechnicalandengineeringconsultants, advisors, planners, engineeringforconstructionof roads, airports and bridges. 1.24 3 M/s Ghir Investments (Mauritius) Ltd.,Mauritius Inductionofforeignequityin anInvestingcompany. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 530.00 ECONOMIC AFFAIRS 4 M/s VRL Logistics Ltd. Inductionofforeigninvestmentthrough an IPOtocarryoutthebusinessoftransportationofgoodsandpassengers,Courierservicesotherthanpostalservices, aircraftcharterservices, andwindpowergeneration, involving theinstallationandsaleofelectricityproducedbywind power generators. Notindicated INDUSTRIAL POLICY PROMOTION 5 M/s PCRD Services Pte. Limited,Singapore Toincreasetheforeignequitypercentagein aninvestingcompany. 4.05 CHEMICALS PETROCHEMICALS 6 M/s Vivimed Labs Ltd.,Hyderabad Transferofsharesbyway ofshare swap. Nil INDUSTRIAL POLICY PROMOTION ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7 M/sTrigunaHospitalityVentures (India) Pvt. Ltd. Toamendtheclauseof the FCapprovaltoincludeanewforeigncollaborator in aninvestingcompany. Nil 8 M/s Taksheel Solutions Ltd. Expostfactoapprovalfortransferof sharesbyway ofshares swap. Nil 9 M/s Dhunseri Investments Ltd., Kolkata Toissueandallotequityshares to the non-residentshareholdersconsequentupon demerger. 715.00 INFORMATION BRAODCASTING 10 M/s G+JInternationalMagazines GmbH,Germany Inductionofforeignequitytocarryoutthebusinessofpublicationandsaleof speciality andlifestylemagazines inIndia. 7.35 POWER 11 M/s KyudenInternationalCorporation, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Japan Tosetup a JVcompanytoactasaninvestingcompany tomakedownstreaminvestmentin thebusinessofdevelopingandestablishing renewablepowerprojects. 1.625 SHIPPING 12 M/s Pipavav Shipyard Ltd.,Gujarat Toundertakeadditionalactivityrelating todefencesector. Nil TOURISM 13 M/s OryxAviation(India) Pvt. Ltd., Kolkata InductionofforeignequitybyacompanyfromBangladeshtocarryoutthebusinessof General Services Agent. 0.99 REVENUE 14 M/s GremachInfrastructureEquipments ProjectsLimited Ex-post factoapprovalforissueof warrants. The company is engaged in the business ofprovidingequipmentsonrentalforinfrastructureprojects. 29.60 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The following 27 (Twenty seven) proposals have been deferred : Sl. No Name of the applicant Particulars of the proposal 1 M/s Forbo Holding AG,Lindenstrasse,Switzerland Tosetup anewWoS toundertakethebusinessof manufacturing, sale, distribution, lease,importandexportofpowertransmissionbelts,sophisticatedconveyorandprocessingbelts as well as plasticmodular, timing andflatbeltsmadeof syntheticmaterials andotherrelatedmachines andtools. The proposalattracts para 4.2.2.2 of Circular 2 of 2010 of the Consolidated FDI policy. 2 M/s PunjLloydLtd., Delhi Haryana Toundertakeadditionalactivities of manufacture,assemblyandrepairofdefenceequipment. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3 M/s SejongIndustrialCo. Ltd.,RepublicofKorea Tosetup anewWoS toundertakethebusinessofmanufacturingandsupplyofautomobilepartsand componentsincludingexhaustmufflerassemblyand catalytic converters. The proposalattracts para 4.2.2.2 of Circular 2 of 2010 of the Consolidated FDI policy. 4 M/s iFastFinancialIndiaPvt. Ltd., Mumbai Toengageinthebusinessof publishing magazine. 5 M/s Kale Consultants, Pune Ex-post-factoapprovalforissueof warrants. The company is engaged in IT sector. 6 M/s ACB (India) Limited,Delhi Ex-post-factoapprovalforissueof warrants. The company is engaged in the business of coal washing and electricity generation. 7 M/sOrientalTollw ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ays Pvt. Ltd., Delhi Haryana Inductionofforeignequityin anInvestingcompany. 8 M/sAlHabtoor-STFA SoilGroupLLC,Dubai, UAE Tosetup a WOS toundertakethebusinessof bored piling, shoring,diaphragmwallconstruction,anchoring,sheetpiling, soil improvement, jet grouting, CFA piling, vibro piling,stonecolumns, wick drains,dynamicconsolidation,reversecirculationdrilling inrockandmini piling. The Proposalattracts provision of para 4.2.2.2 of Circular 2 of 2010 of the Consolidated FDI Policy. 9 M/sHarshIntertradePrivateLimited, Ahmedabad Ex-post-factoapprovalforallotmentof sharesagainsttheamountreceivedandkeptinEscrowaccount. The company is engaged in the business of Development and Management of Hotels ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 10 11 M/s Shiva Regency Pvt. Ltd., Ahmedabad Ex-post-factoapprovalforallotmentof sharesagainsttheamountreceivedandkeptinEscrowaccount. The company is engaged in the business of Development and Management of Hotels. 12 M/s Rahimafrooz Batteries Ltd.,Bangladesh Tosetup a WOS toundertakeimportandwholesaledistributionof batteries andprovidingaftersalesservices inIndiabyacompanyfromBangladesh. 13 M/s ArshiyaInternationalLtd., Mumbai Ex-post-factoapprovalforissueof warrants tocarryoutthebusinessofprovidinglogistics solutions,integratedsupplychainandlogisticsinfrastructureservices. 14 M/s MainiPrecisionProducts Pvt. Ltd.,Bangalore Toundertakedefence ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... relatedadditionalactivities ofmanufactureof partsandaccessoriesof aircrafts, spacecrafts. 15 M/s VerizonCommunicationsIndiaPvt. Ltd. Transferofequitysharesfromnon-residentshareholdertonon-residentgroupinTelecom Sector. 16 M/sPranBeverages (India) Pvt. Ltd., Kolkata InductionofforeignequitybyacompanyfromBangladesh. 17 M/s Checkmate Services Pvt. Ltd.,Gujarat Inductionofforeignequityin acompanyengagedinprivatesecurityservices. 18 M/s LokmatMediaLimited, Mumbai Inductionofforeignequitybyway ofIPO,includingissuanceandallotmentofequitysharestopersonresidentoutsideIndia,includingFIIs, foreign VCFs,multilateralandbilateralfinancialinstitutions and non-resident Indi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ans tocarryout thebusinessof publishing ofnewspapers dealing with news andcurrentaffairs. 19 M/s YbrantDigitalLtd. Expostfactoapprovalforissueof warrants tocarryoutthebusinessofSoftwareDevelopment, ITandITenabledservices. 20 M/s Southern CNG AutomobilesIndiaPvt. Ltd., Kolkata InductionofforeignequityinbyacompanyfromBangladesh. 21 M/s RoyaleAsiaCouriers Pvt. Ltd., Chennai Inductionofforeignequitytocarryoutthebusinessofinternationalcourieroperations. 22 M/s EssarCapitalHoldings (India) Ltd., Mumbai Acquisitionofequitysharesbyway ofsubscriptiontonewequity sharesand/orpurchaseofexistingequity shares in aninvestingcompanyengagedin the telecom sector. 23 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... M/s Netmagic Solutions Pvt. Ltd., Mumbai Toincreaseforeignequityfrom49percentto 74 per cent tocarryoutthebusinessofISPwith gateways. 24 M/s Mango Holding Limited,Bangladesh Tosubscribetoequityshares of anIndiancompanyengagedin thebusinessofmanufacturingandSupplyof WirelessEquipmentbya companyfromBangladesh. 25 M/s Augere Wireless BroadbandIndiaPvt. Ltd.,Delhi Toincreaseforeignequityfrom49percentto 74 per cent tocarryoutthebusinessof Broadbandwireless services,internetservices andothertelecommunicationrelatedservices. 26 Mr. M. RezaulHassanandMs.Monnujan Nargis,Bangladesh Expostfactoapprovaltosetup a WOS toundertakethebusinessofSoftwaredevelopmentServicesbycitizens of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Bangladesh. 27 M/s UT StarcomIndiaTelecomPrivateLimited Toundertakeadditionalactivityrelating to Telecom/I B sector. The following 5 (Five) proposals have been rejected: Sl. No Name of the applicant Particulars of the proposal 1 M/s Henry LamotteIndiaPvt. Ltd. Ex-post-factoapprovalforcapitalisationof the pre-incorporation. The company engaged in the business of sales of Natural oil, waxes and special ingredients. 2 M/s DieffenbacherIndiaPvt. Ltd., Karnataka Ex-post-factoapprovalforcapitalisationof the pre-incorporationandpreliminaryexpensestocarryoutthebusinessofMarketingandsalessupportservices. 3 M/s Mecords ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IndiaLtd., Mumbai Ex-post-factoapprovalforissueof partlypaidupequityshares. 4 M/s BramptonInfrastructureIndiaPrivateLimited (i)Grantofcondonationof delaysinfulfilmentofminimumcapitalizationnorms;and(ii)Postfactoapprovalforcapitalization of pre-incorporationexpenses. 5 M/s EverstyleHotelSuppliesIndiaPrivateLimited Toissuesharesagainstconsiderationotherthaninternalremittance. The following 1 (One) proposal has been withdrawn from the Agenda on the request of the applicant : Sl. No Name of the applicant 1 Mr.JaishankarRamchandran, NRI,South Africa The following 04 (Four) proposals have been withdrawn from the Agenda: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Sl. No. Name of the applicant 1 M/sEagleHunterSolutions Ltd., Delhi Haryana 2 M/s Abbott Truecare Pharma Pvt. Ltd., Mumbai 3 M/s Rajpur HydroPowerPvt. Ltd., Shimla 4 M/sPeopleInfocom Pvt. Ltd., Mumbai DSM/BY/GN - 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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