TMI Blog8 FDI Proposals ApprovedX X X X Extracts X X X X X X X X Extracts X X X X ..... 8 FDI Proposals Approved - News and Press Release Dated:- 14-12-2010 - News - Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on December 3, 2010, Government has approved 08 Proposals of Foreign Direct Investment amounting to Rs.883.166 crore approximately. Following 8 (Eight) proposals have been approved . Sl. No. Name of theapplicant Particulars of the proposal FDI/NRIinflows ( Rs. In crore) ECONOMIC AFFAIRS 1 M/s KnowledgeInvestments (<?xml:namespace prefix = st2 /> Mauritius ) Ltd., Mauritius Approval to purchase Class A Units of a Fund. 0.026 2 M/s L T FinanceHoldings Ltd., Mumbai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Induction of foreign equity in an investingcompany by way of Initial Public Offer (IPO). 641.25 HEAVY INDUSTRIES 3 M/s Gigant India Automotive Pvt. Ltd., Maharashtra Induction of foreign equity to set up a new JV through an investing company. 1.47 4 M/s KonecranesFinance Corporation, Finland Induction of foreign equity in a company engagedin the financing, investment and consultancyactivities in the field of manufacture of cranes. The proposal attracts para 4.2.2 of Circular No. 2 of 2010 of the Consolidated FDI Policy. 169.00 CORPORATE AFFAIRS 5 M/s CatvisionProducts Limited, Delhi To issue and allot convertible warrants to carry ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... outthe business of manufacturing of CATV equipment. 1.38 DEFENCE 6 M/s Tata Advanced Systems Limited, Delhi Induction of foreign equity to undertake activityrelating to defence production. 42.82 POST 7 M/s Elbee ExpressPvt. Ltd. To increase foreign equity participation to carry outthe business of providing courier and logistics activities. 27.22 TELECOMMUNICATIONS 8 M/s Alan Dick Company ( India ) Pvt. Ltd., Thane To undertake the additional activity relating toinfrastructure provider (IP Category I). No FreshInflow The following 14 (Fourteen) proposals have been deferred : Sl. No Name of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... heapplicant Particulars of the proposal 1 M/s Intel CapitalCorporation, U.S.A. To make investment by subscribing to warrants in an investingcompany. 2 M/s ABG Shipyard Ltd., Mumbai To enter into Defence Contracts 3 M/s B4U TelevisionNetwork ( India ) Pvt Ltd. Induction of foreign equity by an erstwhile OCB to carry out thebusiness of up-linking a non-news and current affairs TV channel. 4 M/s HindalcoIndustries Ltd., Mumbai Ex-post-facto approval for issuance of partly paid up shares. 5 M/s LakshmiMachine Works Ltd., Tamil Nadu To undertake activities of manufacture parts, components andaccessories for aircraft and spacecraft to be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... supplied to civil anddefence sectors. 6 M/s VerizonCommunications IndiaPvt. Ltd. Transfer of equity shares from non-resident shareholder to non-resident group in Telecom Sector. 7 M/s Pran Beverages ( India ) Pvt. Ltd., Kolkata Induction of foreign equity by a company from Bangladesh . 8 M/s Checkmate Services Pvt. Ltd., Gujarat Induction of foreign equity in a company engaged in privatesecurity services. 9 M/s RelianceBroadcast Network Ltd., Mumbai Induction of foreign investment by FIIs, NRIs by way of freshallotment of shares by private placement or otherwise and/or investments through Stock Exchanges by way of portfolioinvestments, upto the limit of 20% of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the total aid up capital of thecompany. The company is engaged in FM Radio Broadcasting. 10 M/s Essar CapitalHoldings ( India ) Ltd., Mumbai Acquisition of equity shares by way of subscription to new equity shares and/or purchase of existing equity shares in an investingcompany engaged in the telecom sector. 11 M/s WirelessBusiness Services Pvt. Ltd., Mumbai Induction of foreign equity to carry out the business of internetand broadband services. 12 M/s Wireless Broadband BusinessServices (Haryana) Pvt. Ltd., Delhi Induction of foreign equity to carry out the business of internetand broadband services. 13 M/s Wireless Broadband BusinessServices ( Delhi ) Pvt. Ltd., D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elhi Induction of foreign equity to carry out the business of internetand broadband services. 14 M/s Wireless Broadband BusinessServices (Kerala) Pvt. Ltd., Delhi Induction of foreign equity to carry out the business of internetand broadband services. The following 6 (Six) proposals have been rejected: Sl. No Name of the applicant Particulars of the proposal 1 M/s Pharmac Analytic Solutions Pvt. Ltd., Bangalore Issue of shares for other than inward remittances. 2 M/s Asha-Kiran Shelters Foundation, Pune Ex-post-facto approval for induction of foreign equity to carryout social rehabilitation centre. 3 M/s Forbes BumiArmad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a Ltd To make an amendment in the FC approval. 4 M/s Associated Broadcasting Co. Pvt. Ltd., Hyderabad In pursuance of the merger proposal to issue and allotcompulsory convertible preference shares on the date ofcompletion of the merger. The company is engaged in the TVChannel Broadcasting. 5 M/s FlagshipInfrastructure Pvt. Ltd., Mumbai Ex-post-facto approval for issuance of warrants. 6 M/s DLF Limitless Developers Pvt. Ltd., Delhi Transfer of shares from NR to Resident prior to expiry of 3 years from completion of minimum capitalization norms of the company. The following 2 (Two) proposals have been withdrawn from the agenda. Sl. No N ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ame of the applicant Reasons 1 M/s Forbo Holding AG, Lindenstrasse , Switzerland Withdrawn from the Agenda as the applicant has not providedthe additional information. 2 M/s MSC Agency( India ) Pvt. Ltd., Mumbai Withdrawn from the Agenda since the activity is on automaticroute, FIPB approval is not required. The following 01 (One) proposal has been recommended for the consideration of CCEA, as the investment involved in the proposals is above Rs. 1200.00 crore. Sl. No Name of theapplicant Particulars of the proposal FDI/NRI inflows ( Rs. in crore) 1 M/s Enam IndiaInfrastructure FundLimited, Mauritius Investment by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... subscribing to the Class A units of a Fund. 5750 (maximum, exactquantum to be communicateon closure of fund. - 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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