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TMI BlogGovernment Approves Eight (8) Proposals of Foreign Direct Investment Amounting to about Rs.1311.54 CroreX X X X Extracts X X X X X X X X Extracts X X X X ..... Government Approves Eight (8) Proposals of Foreign Direct Investment Amounting to about Rs.1311.54 Crore X X X X Extracts X X X X X X X X Extracts X X X X ..... e Label ATMs. Nil 2 M/s Shaastra Securities Trading Pvt. Ltd., Gurgaon To make downstream investment in the proposed Wholly Owned Subsidiary to undertake the activity of Commodity broking & trading in the commodity exchanges. 2.87 3 M/s Srei Infrastructure Finance Limited, Kolkata To undertake an additional activity of setting up White Label ATMs (WLAs) in India. No Fresh Inflow 4 M/s Mahle Holding India Pvt. Ltd. Investing company having 100% FDI proposes to bring in more investment. 280.00 5 M/s Aveva Solutions Limited, UK To set up a LLP to provide software development and IT enabled services. 8.39 6 M/s Flemingo Duty Free Shop Pvt. Ltd. To operate Electronic Duty Free Shop at International Arrival and Departure Termi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nal at Cochin International Airport and also a Duty Free Shop at APM terminal at Pipavav Port. Nil 7 Md. Rabiul Alam, Bangladesh To set up a new company in India with 100 percent FDI to carry out the business of production of engineering products. 20.28 8 M/s Telenor Mobile Communication AS, Norway To set up a JV company in telecom sector. 1000.00 The following 10 (Ten) proposals have been deferred: Sl. No Name of the applicant Particulars of the proposal 1 M/s Indostar Capital Finance Pvt. Ltd., Mumbai A Systemically Important Non-Deposit Taking Non-Banking Financial Company to set up a subsidiary company and sponsor a debt fund under SEBI (AIF) Regulations. 2 M/s Muthoot Finance Limited, Kerala Company having FDI to s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... et up White Label ATMs. 3 M/s Scripbox.com India Pvt. Ltd., Bangalore Indian company acting as facilitator of investments into mutual funds (other financial Services not mentioned in the FDI policy) proposes to receive foreign investment. 4 M/s AU Housing Finance Limited, Jaipur To increase direct and indirect foreign investment up to 95%, without meeting the minimum capitalization norm of USD 50 million. The company is engaged in the business of providing housing loans, primarily in the un-served, unreached and under-served market mainly in low income states of India. 5 M/s Soma Tollways Pvt. Ltd. Post facto approval for increase in foreign equity in the investing company. 6 M/s Conrad Horler, Karnataka A Foreign citizen (NR) p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... roposes to set up a multimedia LLP. 7 Mr. Ramneek Singh, Amritsar To set up an LLP with foreign equity to undertake agri-export business. 8 M/s Octania Aerostructure Group Pvt. Ltd., New Delhi To issue equity shares in lieu of technology transfer/know how. 9 M/s Jaguar-Max Security Solutions Pvt. Ltd., New Delhi Induction of foreign investment upto 49% in an Indian company engaged in Private Security Services. 10 M/s Jet Airways India Ltd. An Indian Air Transport Service sector company to make a preferential allotment of 24% of equity shares to a foreign airline. The foreign airline proposes to subsequently transfer the same to its WoS. The following 6 (Six) proposals have been rejected: Sl. No Name of the applicant Partic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ulars of the proposal 1 M/s Alliance Insurance Brokers Private Limited, Mumbai Induction of foreign equity by way of issue and transfer of equity shares to carry out the business of insurance broking. 2 M/s Highdell Investment Ltd., Mauritius Induction of foreign equity in an investment holding company. 3 M/s NREC Railway Equipments India Private Limited, Delhi Post facto approval for issuance of equity shares against pre-operative expenses borne by the foreign collaborator. The company is engaged in the business of manufacturing locomotives and their parts. 4 M/s Snap Networks Pvt. Ltd., Karnataka Post facto approval for issuance of partly paid up shares to an NRI. The company is engaged in the business of development of techno ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... logy with respect to Wireless sound systems. 5 M/s Multi Commodity Exchange of India Pvt. Ltd. Engaged in the business of trading in commodities. 6 M/s Marjan Motors Private Limited, Chennai Post facto approval for allotment of shares against pre incorporation expenses remitted by foreign investor to the third party in India. The following 2 (Two) proposals have been advised to access automatic route: Sl. No Name of the applicant Particulars of the proposal FDI/NRI inflows (Rs. in crore) 1 M/s Avis India Investments Pvt. Ltd. A foreign owned (WoS) Indian company, engaged in renting or leasing (other than financial leasing) of motor vehicles proposes to increase its stake in a downstream, engaged in the same business, by ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... quisition of shares from the partner. 17.61 2 M/s Dewsoft Fabrication Private Limited, New Delhi A defence sector company to transfer 26 % holdings to a foreign company against technology transfer fee payable to the foreign company. Nil The following 01 (One) proposal has been withdrawn from the Agenda: Sl. No Name of the applicant 1 M/s ICICI Venture Funds Management Company Ltd., Mumbai In respect of the following 1 (One) proposal, the applicant has been advised to apply for approval: Sl. No. Name of the applicant Particulars of the proposal 1 M/s Cable & Wireless Networks India Pvt. Ltd. Intimation regarding overseas group restructuring in internet infrastructure Company without change in approved FDI/cap/investor. In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... respect of the following 1 (One) proposal, the applicant has been advised that part (a) has been rejected and part (b) and (c) would not require post facto approval as the sector is on automatic route: 5 M/s Abicor Binzel Production (India) Pvt. Ltd., Pune (a) Conversion of overseas loan and interest thereon into share application money in FY 2003-04 and subsequently issuing of 30,000 equity shares of Rs. 1000/- each at par value in month of June 2008. (b) Post facto approval for transfer from Resident to Non- residents of 36 equity shares of Rs. 1000 each at par during the year 1999 and 2000; and (c) Post facto approval for issue of 4964 equity shares of ` 1000 each at par value on February 5, 2002 to non-residents. Decision in cas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of the following 1 (One) proposal will be communicated separately:
Sl. No.
Name of the applicant
Particulars of the proposal
FDI/NRI inflows
(Rs. in crore)
1
M/s Stemcor Holdings Limited
An International steel trading group having a majority owned mining and a WoS in manufacturing in India is restructuring its holdings and through a swap of shares proposing to hold its manufacturing activity as a downstream entity of its mining subsidiary.
Nil
DSM/RS/ka
(Release ID :96989) X X X X Extracts X X X X X X X X Extracts X X X X
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