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Government approves proposal of M/s Firefly Networks Ltd and recommends the proposal of M/s HDFC Standard Life Insurance Company Ltd for the approval of CCEA involving an FDI of ₹ 1705 crore

News and Press Release - Dated:- 19-1-2016 - Based on the recommendations of Foreign Investment Promotion Board in its 230th meeting held on 29th December 2015, the Government has approved the proposal of M/s Firefly Networks Ltd and has also recommended the proposal of M/s HDFC Standard Life Insurance Company Ltd for the approval of CCEA, which involves Foreign Direct Investment (FDI) of ₹ 1705 crore. The following one (01) proposal has been approved: S. No. Item No Name of the applicant .....

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Gist of the proposal Sector FDI (in Rs. Crore) 1 8 M/s HDFC Standard Life Insurance Co. Ltd Approval for transfer of its shares currently held by Housing Development Finance Corporation Limited (HDFC) to Standard Life (Mauritius Holdings) 2006 Limited, thereby increasing foreign shareholding in HDFCSLI from 26% to 35%. Insurance Rs.1705 cr The following four (04) proposals have been deferred: S. No. Item No Name of the applicant Gist of the proposal Sector 1 1 M/s Quantum Simulators Pvt Ltd Appr .....

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n Value Developers Private Limited by BNP Paribas SA France and/or one or more of BNPs French subsidiaries. II. Acquisition of 100% capital of Human Value Developers Private Limited by BNP and/ or one or more of BNPs French subsidiaries. NBFC 3 6 M/s Aviva Life lnsurance Co lndia Ltd Approval has been sought by Aviva Life Insurance Company India Limited to increase the foreign shareholding from 26% to 49% by Aviva International Holdings Limited, UK by way of transfer of 23% shareholding currentl .....

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