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TMI BlogGovernment approves Twenty (20) Proposals of Foreign Direct Investment amounting to 988.3 CroreX X X X Extracts X X X X X X X X Extracts X X X X ..... Government approves Twenty (20) Proposals of Foreign Direct Investment amounting to 988.3 Crore X X X X Extracts X X X X X X X X Extracts X X X X ..... Bharati Shipyard Limited, Mumbai (Investee Company) which has existing FII and NRI investments has proposed to undertake additional defence activities along with its existing activities. Nil Defence 2 M/s Solar Industries India Limited, Nagpur (No. 86/2014-FC.I) M/s Solar Industries Limited, which has minimal investment FII/NRI investment, has sought approval for undertaking additional activity of manufacturing defence products. Nil Defence 3 M/s Hatsoff Helicopter Training Pvt Ltd, Bangalore (No. 112/2014-FC.I) Post facto approval has been sought by M/s Hatsoff Helicopter Training Pvt Ltd for the issue of shares against interest money accrued on the foreign remittance received by it from the foreign investor. ₹ 5.6 Crore ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Civil Aviation 4 M/s Verizon Communications India Private Limited [No. FC.II - 39/2002] M/s Verizon Communications India Private Limited, engaged in telecom sector, is seeking approval to increase foreign equity participation by its foreign parent from 74% to 100%. ₹ 2.32 Crore Telecom 5 M/s Ironman Media and Advisory Services Private Ltd. (No. 11/SIA/NFC/2014) M/s Ironman Media and Advisory Services Private Ltd. has sought approval to issue shares for the amount received as FDI. ₹ 0.30 Crore Print Media 6 M/s Axes Studios LLP (No.10/SIA/NFC/2014-FC I) M/s Axes Studios LLP has sought approval to accept NRI investment from Mr. Gunjan Dhirendra Chag, NRI, UK. ₹ 0.99 Crore IT 7 M/s MapfreAsistencia Camp A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... + Aa International de SegurosYReaseguros, SA(No. 245/2013-FC.I) Permission for incorporating a WoS in India for providing software related services and also act as Corporate Agent to an Indian Insurer by Soliciting and Procuring Insurance business as Corporate Agent. ₹ 1.70 Crore (US$ 0.275 million) Insurance 8 M/s Instant Global Money Transfer Private Limited (No. 78/2014-FC.I) M/s Instant Global Money transfer Private Limited, Punjab is seeking post facto approval for partly paid shares issued to the M/s Trans-Fast Remittance LLC, New York against FDI. ₹ 0.15 Crore NBFC 9 M/s GETCO Asia Pte. Ltd., Singapore (No. FC.II: 156/2011) Approval sought by a wholly foreign owned company for setting up a downstream subsidia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ry to be engaged in the business of commodities broking, commodities trading and providing liquidity to the commodities market. Nil NBFC 10 M/s Equitas Holdings Private Limited, Tamil Nadu (No. FC.II- 236/2011) Approval has been sought by M/s Equitas Holdings Private Limited for downstream investment in its wholly owned subsidiaries by its existing and new foreign shareholders hereby increasing the foreign equity from 91.30% to 93.12% ₹ 325 Crore Investing Company 11 M/s ANZCapital Pvt. Ltd. (FC.II: 121/2001) M/s ANZ Capital Private Limited is seeking approval for removal of the condition prescribed in the FC approval. Nil NBFC 12 M/s Medipass SRL, Italy (No. 83/2014-FC.I) Approval is sought by Medipass SRL, an Italia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n company for the acquisition of 85.19% stake in the share capital of M/s Clearview Healthcare Private Limited, an investing company with downstream investment in health sector. ₹ 15.11 Crore Pharma 13 M/s Intas Pharmaceuticals Limited, Ahmedabad [No. FC.II - 334/2005] M/s Intas Pharmaceuticals Limited, an Indian pharmaceuticals company, seeking approval for NR to NR transfer of 10.16% its shares. Nil Pharma 14 M/s. Koye Pharmaceutical Private Limited (No. 41/2014-FC.I) M/s Koye Pharmaceuticals Private Limited, a brownfield Pharmaceuticals company, has sought permission to issue additional 1,818 CCPS, 15constituting up to 6.81% of the share capital of the company on a post-issuance and fully diluted basis, to the already e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xisting investor M/s SCI Growth Investments II, Mauritius. ₹ 7.50 Crore Pharma 15 M/s Amneal Pharmaceuticals Company India Pvt. Ltd. (No. 67/2014-FC-I) M/s Amneal Pharmaceuticals Company Private Limited, a foreign owned and controlled company, is seeking approval for acquisition of entire share capital of Epsilon, through a share purchase agreement a company engaged in trading of generic pharma products and in process of setting up formulation manufacturing facility. UptoRs. 205 Crore Pharma 16 M/s Fresenius Kabi Oncology Limited, New Delhi (No. 89/2014-FC.I) Approval has been sought for issuance of equity shares for an aggregate consideration of ₹ 119 Crore to increase foreign shareholding from 96.22% to 96.483% of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... its parent company. ₹ 119 Crore Pharma 17 M/s Ferring Pharmaceuticals Pvt. Ltd. (FC.II 456/1996) M/s Ferring Pharmaceuticals Private Limited is seeking post facto approval for the investment made by Ferring BV (foreign company) into M/s Ferring Pharmaceuticals Pvt. Ltd for onward downstream investment in its WoS M/s Ferring Therapeutics Pvt. Ltd., prior to approval of FIPB. Nil Pharma 18 M/s Indusind Bank Ltd. (591/FC/93/NRI-FC I) the applicant has sought approval for increase in foreign investment in IBL to 74% with a specific request to grant post-facto approval for increase in foreign holding from 68.51% to 72.07% on 30.06.2014 Not indicated Banking - Private Sector 19 M/s Dymak India Services Limited Liability Partn ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ership, Uttar Pradesh (No. 85/2014-FC.I) Post Facto approval has been sought by M/s Dymak India Services LLP for foreign contribution of ₹ 44,53,523 to acquire 80% stake in the Indian LLP by M/s Dymak A/S CVR 1975 7803. Nil Whole Sale Trading 20 M/s Tara India Fund IV Trust, Mumbai (No. 102/2014-FC.I) M/s Tara India Fund IV Trust seeking permission for investment upto US$45 million by subscribing to the units of the applicant and category B investors to invest up to US $ 5 million in the units of TARA Fund. ₹ 305.63 Crore (US$ 50 million) Investing Company 2. The following eight (8) proposals have been deferred: Sl. No. Name of the applicant Gist of the proposal Sector 1 M/s Pureplay Investment Partners, Mauri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tius (No. FC.I-270/2013) Proposal for FDI by M/s Pureplay Investment Partners Mauritius in: (a) upto 74% in M/s Indiverse Broadband Private Limited, an existing company engaged in the cable television networks business and undertaking up -gradation of networks towards digitization and addressability (b) 49% in (JVC-I) and 49% in (JVC-2) (both JVC will be act as investing company). Telecom 2 M/s ASV Europa Security Private Limited, Secunderabad (No. 91/2014-FC.I) M/s ASV Europa Security Private Limited, Secunderabad seeking permission for receiving 49% foriegn investment in Security Services and Man Power recruitment & training services by way of transfer of shares from its current Indian Shareholder. Private Security Agencies 3 M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /s Halyard Health Inc., USA (No. 109/2014-FC.I) Approval has been sought by M/s Halyard Health, Inc, USA, WoS of Kimberley Clark group to set up a new company in India to be engaged in import and sale of healthcare products on "Wholesale business" and transfer of some assets from one WoS to the new company. Pharma 4 M/s BeloorBayir Biotech Limited, Bangalore (No. 111/2014-FC.I) M/s BeloorBayir Biotech Limited Bangalore, with 22.55% foreign investment (on a fully diluted basis) by M/s India Agri Business Fund Ltd. Mauritius proposes to acquire, by way of merger, the entire share capital of M/s Bayir Chemicals India Private Limited, Bangalore and M/s Sneha Nutura India Private Limited, both companies being engaged in pharmaceuticals sect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or. Pharma 5 Mr. Anurag Kumar (No. 12/SIA/NFC/2014) The applicant has sought Government approval for acquisition of 100% equity of BPPL. The proposal has been supported by the consent of existing shareholders and Board Resolution of the investee company. Pharma 6 M/s Tevapharm India Pvt. Ltd. [FC.II 35(2001)/45(2001)] A 100% foreign owned Indian brownfield pharma company is seeking approval for additional capital infusion. Pharma 7 M/s GMU InfosoftPvt. Ltd. (No. 17/SIA/NFC/2011-FC I) company proposes to issue 2750 equity shares (1.52% equity) of ₹ 10/each, to Mr. Ramneet Singh Rekhi, USA, NRI and 2750 equity shares (1.52% equity) of ₹ 10/each to Mr.Sartaj Singh Rekhi, USA, NRI. Others 8 M/s U InfosoftPvt. Ltd. ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... No. 16/SIA/NFC/2011-FC I) The company proposes to issue 2750 equity shares (1.52% equity) of ₹ 10/each, to Mr. Ramneet Singh Rekhi, USA, NRI and 2750 equity shares (1.52% equity) of ₹ 10/each to Mr.Sartaj Singh Rekhi, USA, NRI. Others 3. The following five (5) proposals have been rejected: Sl. No. Name of the applicant Gist of the proposal Sector 1 M/s Indus Teqsite Private Limited, Tamil Nadu (No. 261/2013-FC.I) A JV is proposed to be formed with 26% FDI to undertake defence sector activities. Defence 2 M/s. Sistema Shyam Teleservices Ltd. [FC.II 241 (07)/285(07)] Increases in FDI upto 100% in M/s Sistema Shyam Tele Services Limited and its downstream WoS M/s Shyam Internet Services Limited, both engaged in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elecom sector, on account of conversion of Redeemable Preference Shares into equity. Telecom 3 M/s Kusum Healthcare Private Limited, New Delhi (No. 92/2014-FC.I) M/s Kusum Healthcare Private Limited, New Delhi, engaged in pharmaceuticals sector, has sought approval for issuing equity shares/CCPS/CCDs to M/s Upasa Holdings AG, Switzerland, leading to 25% shareholding in the applicant. Pharma 4 M/s BioMerieux India Private Limited, New Delhi (No. 97/2014-FC.I) M/s BioMerieux India Pvt Ltd., a WoS of M/s BioMerieux France has sought approval for additional downstream investment of 10% (increase from 60% to 70%) in M/s RAS Life sciences Private Limited, a company engaged in brownfield pharmaceutical sector. Post-facto approval for ini ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tial investment of 60% would also be required. Pharma 5 M/s HBM Private Equity India (No. 216/2013-FC.I) Approval has been sought by M/s HBM Private Equity India, Mauritius to acquire 7.72% equity shares of M/s Marck biosciences Ltd from IFCI Venture Capital Fund Ltd. This will result in increased foreign equity participation from 49.29% to 57.01%. However there is no change in the holding of the promoter group (80.01%). Pharma 4. In respect of following two (02) proposals, the recommendation is to advise the applicants that FIPB approval is not required in their cases: Sl. No. Name of the applicant Gist of the proposal Sector 1 M/s Kineco Kaman Composites India Pvt. Ltd. (No. FC.I-100/2013) M/s Kineco Kaman Composites-Indi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a Pvt Ltd, having 26% FDI, proposes to undertake the additional activity of supplying products and research and development services to the defence sector, along with its existing activities.
Defence
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M/s Xander Finance Pvt. Ltd., Delhi
(No. 110/2014-FC.I)
M/s Xander Finance Private Limited, a loan NBFC, with 99.45% FDI from M/s Xander Credit Pte. Limited, Singapore has sought post-facto approval for deployment of temporary surplus funds in debt mutual fund and for making future deployment of temporary surplus funds in debt mutual funds and government bonds.
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