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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 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 th .....

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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&D expenses be maintained in value terms for five years at an absolute quantitative level at the time of induction of FDI. The benchmark for this level would be decided with reference to the highest level of R&D expenses which has been incurr .....

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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. This absolute level should be maintained for the next five years. (vi) The administrative Ministry concerned and the FIPB secretariat will be provided complete information pertaining to the transfer of technology, if any, along with induction of foreig .....

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