Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on May 10, 2013, the Central Government has approved sixteen (16) proposals of Foreign Direct Investment (FDI) amounting to Rs.1646.875crore approximately.
Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 10th May, 2013 are as follows:
Following sixteen (16) proposals have been approved:
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Sl. No.
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Name of the applicant
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Particulars of the proposal
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FDI/NRI inflows
(Rs. In crore)
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1
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M/s BTI Payments Private Limited, Bangalore
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To set-up White Label ATMs, as an additional activity, with additional FDI to be brought in from its parent company.
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108.50
|
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2
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M/s Korea Western Power Co. Ltd., Korea
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To invest in an Indian investing company.
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270.00
|
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3
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M/s Samvardhna Motherson International Limited
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Conversion of equity shares on non-repatriable basis to repatriable basis held by the foreign investor, in an investing company.
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Nil
|
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4
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M/s Celio International Belgium
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To increase participation from 51% to 100% in an Indian company engaged in the business of single brand retail trading of products.
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39.50
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5
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M/s Vileroy & Boch AG, Germany
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To invest 50% equity in a proposed JV company for to carry out the business of single brand retail trading of products.
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1.12
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6
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M/s Multi Screen Media Pvt. Ltd
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Deletion of compounding condition.
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Nil
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7
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M/s Mylan Laboratories Ltd., Hyderabad
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An existing listed Indian pharma company with FDI to acquire entire business of manufacturing from another existing Indian pharma company.
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Nil
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8
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M/s Mylan Laboratories Limited, Andhra Pradesh
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An existing listed Indian pharma company with FDI to acquire entire business of manufacturing from another existing Indian pharma company.
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Nil
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9
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M/s Terumo Mauritius Holding Ltd
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Existing pharmaceutical company to increase foreign equity participation from 74% to 100%.
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90.00
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10
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M/s Medreich Ltd
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A foreign owned Indian pharma company to convert a 50% owned downstream pharma company into a WoS by means of internal accruals.
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Nil
|
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11
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M/s Darjeeling Organic Tea Estates Pvt. Ltd.
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To increase foreign equity participation from 49% to 60.50% from existing and four new foreign investors to carry out the business of production, distribution and export of tea.
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105.00
|
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12
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M/s SEAF International FDI, Mauritius
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To make foreign investment over a period of time by subscribing to one or more classes of units of a Fund making investment in food & agriculture related sector.
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22.375
|
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13
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M/s Aavishkar India Micro Venture Capital/ M/s Care Canada
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Transfer of units from NR to NR in a Domestic Venture Capital Fund
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Nil
|
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14
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M/s Maini Precision Products Pvt. Ltd
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Deletion of conditions requiring the prior approval of DGCA as well as compounding, from the approval letter dated 05.05.2011.
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Nil
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15
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M/s ABG Container Handling Pvt. Ltd., Mumbai
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Investing company proposes to receive foreign investment for making downstream investment.
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48.64
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16
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M/s Vijay Television Pvt. Ltd.
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The existing domestic shareholding in the non-news channel business is being acquired by the foreign promoters.
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961.74
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The following eight (8) proposals have been deferred:
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Sl. No
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Name of the applicant
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Particulars of the proposal
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1
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M/s Financial software and Systems Pvt. Ltd., Chennai
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An Indian financial software transaction processing solutions company having FDI proposes to engage in the additional activity of setting up, owning and operating White Label ATMs.
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2
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M/s Equitas Holdings Pvt. Ltd
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To increase FDI percentage in investing company by way of transfer of shares from Resident to Non-resident.
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3
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M/s Jeevan Telecasting Corporation Ltd
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MHA has proposed for revocation of existing approval.
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4
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M/s Greycells Education Ltd
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To issue warrant to carry out the business of educational services rendered by technical or vocational colleges, schools and other institutions.
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5
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M/s IL&FS Securities Services Ltd
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Merger of an Indian company into another Indian company, with the approval of Hon’ble High Court Mumbai.
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6
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M/s Maharashtra Transmission Communication Infrastructure Limited, Mumbai
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Post facto approval for issuance of FDI compliant instruments to an Indian company having foreign equity participation and other foreign investors to undertake the business of providing telecom services in the IP Category – I.
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7
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M/s Sterlite Networks Limited
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Company engaged in the business of Infrastructure Provider Category-I (IP-I), in telecom sector to undertake additional activities and consequently proposes to reduce FDI from 100% to 74%.
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8
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M/s P5 Asia Holding Investments (Mauritius) Limited, Mauritius
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NR to NR transfer of shares to carry out the business of (a) Broadcasting a non- news and current affairs television channel namely “StarCJ alive” Channel; (b) wholesale cash and carry trading of products; and (c) creation of home shopping content for broadcast through any and all mediums, including the channel, all within India.
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The following two (2) proposals have been recommended to advise the applicant that the proposals are not within the purview of FIPB:
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Sl. No
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Name of the applicant
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Particulars of the proposal
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1
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Dr. A. Jawahar Palaniappan, USA
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Post facto approval for regularization of equity shares. The company is engaged in the activity of printing magazines, telephone directories, text books, etc.
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2
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M/s Akzo Nobel India Ltd., Kolkata
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Conversion of unsecured loan into capital grant in the chemicals & paints sector.
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Decision in the following one (1) proposal has been kept in abeyance:
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Sl. No.
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Name of the applicant
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Particulars of the proposal
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8
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M/s Punj Lloyd
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Representation against the denial of security clearance.
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DSM/RS/ka
(Release ID :96602)
