TMI BlogGovernment Approves Sixteen (16) Proposals of Foreign Direct Investment (FDI) Amounting to ₹ 4,722 Crore ApproximatelyX X X X Extracts X X X X X X X X Extracts X X X X ..... Government Approves Sixteen (16) Proposals of Foreign Direct Investment (FDI) Amounting to ₹ 4,722 Crore Approximately - News and Press Release Dated:- 29-10-2015 - News - Based on the recommendations of Foreign Investment Promotion Board in its meeting held on 29th September 2015, the Government has approved 16 (sixteen) proposals of Foreign Direct Investment amounting to ₹ 4,722 crore. The following 16 (Sixteen) proposals have been approved: Sl. No. Item No. Name of the applicant Gist of the proposal Sector FDI 1 1 M/s Sun Pharma Research Advanced Company Limited ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Approval sought to offer, issue and allot equity shares to FIIs, FPIs, NRIs and OCBs, pursuant to the Proposed Rights Issue, whether by way of renunciation or otherwise, upto an aggregate amount of ` 250 crore in the proposed rights issue of the company. Pharma 250 crores 2 2 M/s Schulke India Pvt. Ltd. Accepting transfer of local assets as part of a global acquisition agreement entered into between M/s Schulke GMBH and Advanced Sterilization Products (ASP) Division of Ethicon, Inc., a subsidiary of Johnson Johnson Services Inc. Pharma 76.2 crore 3 4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... M/s Synergia Life Sciences Pvt. Ltd. Approval to accept investment by M/s India Life Sciences Fund II LLC by subscribing to 428,725 equity shares of ₹ 10 each at a premium of ₹ 923 per share under private placement, constituting 30% of the share capital on a fully diluted basis. Pharma ₹ 40 crore 4 5 M/s Strides Arcolab Limited Approval has been sought for issuing shares to non-resident and resident equity shareholders of M/s Shasun Pharmaceuticals Limited under a scheme of merger Pharma nil(merger) 5 7 M/s MMI Strategic Inves ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tments (Pty) Ltd. Approval sought for foreign Investment of 49% percent in an Indian health insurance company by subscribing to 4,92,16,177 equity shares of the company for INR 1,96,27,50,000. Insurance 196 crores 6 8 M/s Safran Engineering Services India Private Limited Approval has been sought for deletion of conditions in the last FIPB approval dated 03.02.2010 Services related to Defence Sector nil 7 13 M/s Multi Screen Media Private Limited Approval sought for deletion of Clause 7(b) of the FIPB Approval Broadca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sting nil 8 16 M/s IVF Trustee Company approval of the FIPB for the proposed investments by Indium V and Cayman Fund of upto ` 2,880 million (approximately US$ 45 million) and ` 3,200 million (approximately US$ 50 million) respectively in units of IVF V. Venture Capital Fund (AIF) 608 crores 9 18 M/s International Trade and Exhibitions India Private Limited Approval for proposed expansion of the scope of its business activities in printing, publishing and circulating or otherwise, dealing in all types of Books, scientific and technical magazines/ specialty jour ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nals/ periodicals and other publications but not in any manner dealing with news and current affairs. Print Media nil 10 19 M/s Aditya Birla Nuvo post facto approval for the issue of convertible warrants to M/s Surya Kiran Investments Pte Ltd., Singapore, on February 21, 2008. Misc. ₹ 377 crores 11 20 M/s Energy City Navi Mumbai Holding Company Post-facto approval for the transfer of Equity shares of Fully Compulsorily Convertible Debentures (CCDs) in Valuable Properties Private Limited by the applicant to its WoS i.e. VTMPL. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Construction and Development ₹ 139 crors (already brought in ) 12 22 M/s Gulf Packaging Machines JLT Approval for setting up LLP. LLP ₹ 0.65 crores 13 23 M/s Blue Star Infotech Limited approval sought for issuance of ESOPs to non-resident shareholders IT/ITES nil 14 24 M/s HDFC Capital Advisors Limited Approval sought for issue of units to M/s Green Light A 2014 Trust. HDFC Fund proposes to make investments in equity, equity linked instruments, red ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eemable preference shares, non-convertible debentures and other debt securities of listed or unlisted investee companies engaged in real estate construction development projects which are permitted under the SEBI AIF Regulations as a Category II AIF. Venture Capital Fund (AIF) 2400 crore 15 26 M/s Indian Herbs Specialities Private Limited Approval for receiving FDI by the way of fresh subscription to shares and purchase of shares by the Investor from the existing shareholders to be issued to India 2020 Fund II, Limited Pharma 75 crores 16 27 M/s AEGON RELIGARE ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... LIFE INSURANCE COMPANY LIMITED Approval sought for the transfer of shares of the company held by Bennett, Coleman amp; Company to AEGON India Holding B.V thereby raising the foreign shareholding from 26% to 49%. Insurance 559.96 crores The following 6(six) proposals have been deferred: Sl. No. Item No. Name of the applicant Gist of the proposal Sector 1 9 M/s BF Elbit Advanced Systems Private Limited Approval has been sought for increasing the foreign shareholding from 26% to 49% by its existing shareholder ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Defence 2 17 M/s Sharekhan Limited Post facto approval for carrying on the commodities brokerage business through subsidiary and the depository services business by itself while there was investment made by foreign investors from time to time in Sharekhan. II. Investment in Sharekhan by IDFC since IDFC was regarded as a foreign owned company from March 2011 till March 2014 III. Investment in Human Value Developers Private Limited by IDFC since IDFC was regarded as a foreign owned company from March 2011 till March 2014 and IV. Downstream investment made by Human Value Developers Private Limited in 2007 in M/s Sharekhan NBFC ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3 21 M/s Serap India Pvt. Ltd. Permission for issue of equity shares to with a premium of ₹ 10 per share against total outstanding dues of ₹ 11,47,64,901 towards purchase of capital goods, components and raw material from them and condonation of delay of 1215 days in applying for such permission. Manufacturing 4 25 M/s Reliance Globalcom Ltd., Bermuda Approval sought to purchase M/s GCX India Ltd., an Indian owned and controlled company Telecom 5 29 30 M/s Taurus Ventures Limited and M/s Capricorn Ventures Limited Pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... posal 1: M/s Taurus Ventures Limited has sought approval, for the issuance of shares to the shareholders of Max India pursuant to the Scheme and to have foreign shareholding of 37.08% (NRI s / OCBs - 0.99% FDI - 12.14% FIIs - 23.95%). Proposal 2: M/s Capricorn Ventures Limited has sought approval to have foreign shareholding for the issuance of shares to the shareholders of Max India pursuant to the Scheme and to have foreign shareholding of 37.08% (NRI s / OCBs - 0.99% FDI - 12.14% FIIs - 23.95%). Miscellaneous(Demerger) The following 08 (eight) proposals have been rejected: Sl. No. Item No. Name of the applicant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Gist of the proposal Sector 1 6 M/s Cipla Health Limited (yet to be incorporated) Approval sought for (i) Initial investment of `1,06,00,00,000 from FIL Capital Investments (Mauritius) II Limited in M/s Cipla Health Limited (yet to incorporated), by way of subscription to fresh equity shares and compulsory convertible preference shares up to a maximum of 26.11% of the share capital of Cipla Health limited, in the process of being incorporated by Cipla Limited (ii) Subsequent Investment of upto ` 15,66,00,000 by FIL Capital Investments (Mauritius) II Limited in subsequent rounds of Investment in a public limited company (i.e. Cipla Health L ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... imited) in the process of being incorporated by Cipla Limited post the closing of the Initial Investment. Pharma 2 10 M/s Menon Bearings Limited Approval sought to enter defence production. They are currently involved in automobile related manufacturing. Defence 3 11 M/s DW Animation Ireland Limited, Ireland Approval for setting up of an LLP in India with FDI of (i) ` 99,980 amounting to ~ US $ 1,587 contributing 99.98% of the capita of LLP by DW Animation Ireland Limited; and (ii) `10 amounting to - USD 0.16 contributing 0.01% of the capital of LLP by Robert Alan Kelly. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... LLP 4 12 M/s Atria Convergence Technologies Private Limited, Approval for 100% transfer of shares from existing shareholdersto new Foreign Investors Argan (Mauritius) Limited ( Argan ) and TA FVCI Investors Limited ( TA FVCI ) Telecom and Broadcasting 5 14 M/s Vadatech India Private Limited Permission to account all the expenses incurred prior to its incorporation and its bank account opening and to issue Equity shares at par, against amount transferred by M/s Vadatech Inc. USA, to the professional firm i.e. M/s. Navin Nayak Associates. LLP 6 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 15 M/s Meshlabs Software Private Limited, permission for Conversion of the Company [having FDI and NRI holding of 22% into Limited LLP LLP 7 28 APOLLO Hospitals Enterprise Limited Approval has been sought by APOLLO Hospitals Enterprise Limited for allowing foreign investment in the share capital of the Company by the renunciation of the rights or otherwise, subject to RBI and other necessary approvals to residents outside India pursuant to the proposed Rights Issue. Pharma, Healthcare and Insurance 8 31 ii5 Technologies Pvt ltd ii5 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Technologies Pvt ltd having 99.997% of foreign investment by ii5 Ventures Ltd , Singapore has applied for conversion of the existing Private Limited company to LLP. LLP 1 (one) proposal does not lie before FIPB: Sl. No. Item No. Name of the applicant Gist of the proposal Sector 1 3 M/s Shilpa Medicare Limited Permitting FIIs and other Foreign Investors to acquire/ hold equity shares of the Company up to an aggregate limit of 30% of the paid up equity share capital. Pharma - News - Press release - PIB Tax Man ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... agement 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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