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Proposal of M/s. Mylan Laboratories Limited for increase in FDI up to US $ 750 million in MLL by Mylan Luxembourg S.a.r.l. Luxembourg and / or Mylan Group B.V. Netherlands through subscription of equity shares and / or compulsorily convertible debentures for providing MLL part of the funds required for the acquisition of the entire shareholding of JPL post the demerger from its then shareholders

Dated:- 6-11-2015 - The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the proposal of the Department of Economic Affairs for increase in FDI up to US $ 750 million in Mylan Laboratories Limited (MLL) by Mylan Luxembour .....

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e demerger from its then shareholders (including Orizaba and resident Indian shareholders). With this approval, FDI of US dollar 750 million will be received in the country. The approval has been accorded subject to following conditions: (i) The prod .....

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to the level of production of consumables and/or NLEM drugs in the immediately preceding three financial years to the year of induction of FDI. Of these, the highest level of production in any of these three years would be taken as the level. (ii) R .....

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ed in any of the three financial years immediately preceding to the year of induction of FDI. (iii) The administrative ministries concerned and the FIPB secretariat will provide complete information pertaining to the transfer of technology, if any, a .....

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previous three financial years for the next five years. (v) The company will also be required to maintain the R&D expenditure at the maximum level incurred in any of the three financial years immediately preceding the year of induction of FDI. Th .....

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n investment into the investee company. (vii) No non-compete clause in respect of 'prospective investor', and 'prospective recipient entity. (viii) Second leg of transaction involves infusion of fresh foreign funds by Mylan group for acqu .....

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