TMI Blog34 FOREIGN DIRECT INVESTMENT PROPOSALS CLEAREDX X X X Extracts X X X X X X X X Extracts X X X X ..... 34 FOREIGN DIRECT INVESTMENT PROPOSALS CLEARED - News and Press Release Dated:- 31-1-2008 - News - Finance Minister, Shri P. Chidambaram has approved 34 Foreign Direct Investment proposals recommended by Foreign Investment Promotion Board (FIPB) in its meeting held on 18 th January, 2008. The approval amounts to Rs. 2288.40 crore. The proposals are related to Ministries/Departments, namely, Chemicals petro-chemicals, Commerce, Health Family Welfare, Industrial Policy Promotion, Information Broadcasting, Posts, Telecommunications, Urban Development and Economic Affairs. The major investment proposals pertain to the Ministries/Departments of Commerce, Information Broadcasting, Telecommunications, Urban Development and Econo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mic Affairs. The details of the 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. Crystal Ball Fashion Pvt. Ltd Induction of foreign equity upto 50% in a company propose to be engaged in Single Brand trading 1.50 2. M/s. ZF Lenksysteme GmbH, Germany To set up a Joint Venture company with a foreign equity of upto 74% to undertake manufacture of steering system for commercial vehicles as well as passenger cars. 0.74 3 M/s. Transmarket Group Research (India) Pvt. Ltd. Mumbai Induction of foreign equity in a company propose to undertake the activ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ities of commodity trading 3.1 4 M/s. Acumen Fund, USA Induction of foreign equity up to 36.37% in a company engaged in trading of items sourced from Small Scale Sector 55.28 INFORMATION BROADCASTING 5 M/s. Vijay Television Pvt. Ltd. Chennai Increase in paid up capital and to undertake the activities of up-lining of non-news and current affairs television channels 34.00 (approx) INDUSTRIAL POLICY PROMOTION 6 M/s. Russell Square Holdings BV, Netherlands To set up a WOS to undertake the business of providing entire range of market and other related services. 0.40 POSTS 7 M/s. ELBEE Express Private Limit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed, Mumbai Post-facto approval for FDI participation upto 2.25% in a company engaged in the business of providing courier and logistics services No fresh inflow ECONOMIC AFFAIRS 8 M/s. Matrix Publicities and Media India Pvt. Ltd. Mumbai Conversion of operating company into operating cum holding company and to make downstream investment 0.25 9 M/s. GS Strategic Investments Ltd., Mauritius Induction of foreign equity in an operating company and conversion of the operating company into a holding company for undertaking downstream investments 180.00 10 M/s. Neha International Ltd, Hyderbad Transfer of shares by way of share swap No fresh inflow ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 11 M/s. IL FS Trust Company Ltd, Mumbai Accept contributions from the offshore fund into the Trust and to issue class B units and making investment in existing securities etc. 290.00 (Approx) 12 M/s. Radiant Infosystems Pvt. Ltd. Bangalore Transfer of shares by way of share swap No fresh inflow 13 M/s. Wisdom Global Enterprises Ltd, Mumbai Induction of foreign equity and Conversion of operating company into a holding company to make downstream investment 200.00 CHEMICALS PETROCHEMICALS 14 M/s. Colorcon Ltd., Deletion of divestment condition No fresh inflow INFORMATION BROADCASTING 15 M/s. NDTV Networks LC, L ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ondon conversion of operating company into operating-cum-holding company for making downstream investments 19.38 16 M/s. Dish TV India Ltd. Induction of foreign equity by way of issue and allotment of shares and warrants convertible into shares within a period of 18 months 0.25 17 M/s. UTV Software Communications Ltd. Issue of FCCBs. Induction of FDI in the company engaged in up-linking of non-news and current affairs channels need the approval of FIPB 400.00 COMMERCE 18 M/s. Signature Kitchens India Pvt. Ltd. Induction of foreign equity in a company engaged in trading of "Signature Kitchen" single brand products 0.3850 ECONOMIC AFFAIRS ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 19 M/s. Media Transasia India (P) Ltd., Conversion of operating company into operating cum holding company, for downstream investment in publication of specialty magazine. No fresh inflow TELECOMMUNICATIONS 20 M/s. Global Assets Holding Corporation Private Limited, Mumbai Induction of foreign equity and conversion of operating company into operating cum holding company to make downstream investment in Telecom sector. 580.00 21 M/s. Transcend Infrastructure Limited, Kolkata Induction of foreign equity in a company engaged in Infrastructure provider - Category-I services 0.15 ECONOMIC AFFAIRS 22 M/s. Bonsai International Pvt. Ltd. M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... umbai Induction of FDI upto 31.67% in an investing company 4.56 INFORMATION BROADCASTING 23 M/s. B.A.G. Films Media Limited, Noida Induction of foreign equity by way of issue of Foreign Currency Convertible Bonds (FCCBs) in a holding company having downstream investment in the companies to be engaged in up-linking news channels, non-news channels and FM Radio 40.00 24 M/s. Russell Square Holding BV, Netherlands Induction of foreign equity upto 90% in a company engaged in event management activities. Proposal attracts Press Note 1 (2005 series) 8.17 ECONOMIC AFFAIRS 25 M/s. Mahindra Forgings Ltd., Pune Transfer of shares by way of share ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... swap basis consequent upon the merger No fresh inflow INFORMATION BROADCASTING 26 M/s. You Broadband Networks India Pvt. Ltd. Change in the status of operating company into an operating cum holding company for making downstream investments upto 49% in a company engaged in Cable network business No fresh inflow COMMERCE 27 M/s. Sampad Vikas Ltd, Kolkata Induction of foreign equity in a company engaged in the business of Tea production 17.18 28 M/s. Daiichi Sankyo Company Ltd, Japan Induction of foreign equity upto 100% by way of acquisition and fresh induction in a company engaged in the manufacture of pharmaceutical products and formulations ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 25.00 ECONOMIC AFFAIRS 29 M/s. Fatpipe Network India Private Limited, Chennai Transfer of shares between the foreign collaborator and the Indian company by way of amalgamation and also transfer of shares by way of share swap No fresh inflow 30 M/s. Lakecrest Ld, Cyprus Conversion of operating company into operating-cum-holding company to undertake downstream investment 400.00 31 M/s. JSW Energy Ltd, Mumbai Post-facto approval for the FDI in an Indian company which has holding company operations in power sector No fresh inflow INDUSTIRAL POLICY PROMOTION 32 M/s. Saraf Agencies Pvt. Ltd. Kolkata Change in the foreign col ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... laborator in a company which has got approval for FDI upto 55% engaged in manufacture of Titanium products No fresh inflow URBAN DEVELOPMENT 33 M/s. Starlight Real Estate (ASCOT) Mauritius Ltd Induction of foreign equity from Starlight Investment UK into Augustus Avani Land Developers Ltd. ( * ) 26.00 INFORMATION BROADCASTING 34 M/s. B.A.G. Films Media Ltd, Noida Induction of foreign investment in a holding company having downstream investment in the companies to be engaged in up-linking news channels, non-news channels and FM Radio 2.05 (*) Repatriation of investment before the completion of minimum lock-in period of 3 years in Orlanda Real estate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... India Ltd (rejected) 2. The proposal of M/s. Hindustan Coca-cola Pvt. Ltd. has been recommended for the consideration of Cabinet Committee on Economic Affairs (CCEA). 3. The following 4 (four) proposals have been recommended to be deferred: Sl.No Name of the applicant Particulars of the proposal 1 M/s. Daimler AG., Germany To set up a Joint venture company with a foreign equity of upto 60% to undertake designing, manufacturing and selling of commercial vehicles . Proposal attracts Press Note 1 (2005 series) 2 M/s. Continental Air Express Pvt. Ltd. New Delhi Induction of foreign equity up to 60% in a company engaged in courier services 3 M/s. HT Media Ltd. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Transfer of shares by way of share swap 4 M/s. Bycell Telecommunications To undertake activities of offering GSM based cellular telephone services under UAS License agreement all over India, and increase in paid up capital of the company. 4. The following (3) proposals have been rejected: Sl.No Name of the applicant Particulars of the proposal 1 M/s. Astra Microwave Products Ltd, Hyderabad Treatment of only the OCB investment as FDI and to raise the FDI investment later up to 26% in a company proposing to engage in manufacture of licensed defence items 2 M/s. Flemingo Duty Free Shop Pvt. Ltd. Setting up of duty free shops at Attari Railway Station and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Delhi Railway Station 3 M/s. Thuraya Satellite Telecommunications Company, PJSC, UAE To set up a JV with a foreign equity of up to 74% to undertake the activities of offering satellite-based mobile services - 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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