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Government Approves Fifteen (15) Proposals of Foreign Direct Investment (FDI) Amounting to ₹ 7261.6 crore Approximately; Recommends one Proposal for Approval of CCEA Involving FDI of ₹ 6885 crore

News and Press Release - Dated:- 21-3-2016 - Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 232nd meeting held on 7th March 2016, the Government has approved fifteen Foreign Direct Investment (FDI) proposals involving FDI of ₹ 7261.6 crore and recommended one proposal for approval of CCEA involving FDI of ₹ 6885 crore. The following fifteen (15) proposals have been approved: The following one (01) proposal has been recommended for approval by the Cab .....

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ept Canada Corporation. LLP Nil 3 8 Beloorbayir Biotech Ltd Approval has been sought to: 1. Acquire the pharmaceutical business of Bayir Chemicals and the ayurvedic products business of Sneha Natura pursuant to Business Transfer Agreements. All three companies are Indian. 2. Pursuant to the above business transfers, foreign investor M/s India Agri Business Fund Limited (IABF) shall invest up to INR 250 million in BBTL under the FDI route by way of subscription to additional Cumulative Compulsori .....

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nce Life Insurance Company Limited, an Indian company, thereby increasing its aggregate shareholding in Reliance Life Insurance Company from 26 percent to 49 percent. Insurance 2265.5 6 12 M/s Tata AIA Life Insurance Company Ltd Approval has been sought for increasing the stake of AIA International Limited from 26% to 49% in the company. Insurance 2055 7 16 M/s PTL Enterprises Ltd Approval for transfer of 14,90,000 equity shares held by Late Mr. Siddique Dawood (UK based NRI) to his son and lega .....

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ures Ltd approval, for the issuance of shares to the shareholders of Max India pursuant to a demerger of Max India Limited whereby which each shareholder of Max India would be issued shares in the company in the ratio of 1:1 and M/s Taurus would become the holding company of Max Healthcare and Max Bupa. Insurance, Health and Allied Activities nil 11 26 M/s Quantum Simulators Pvt Ltd Approval to set up a stimulator Manufacturing Company in India for various applications including military and com .....

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tin Global, Inc. (USA). Defence nil 13 28 M/s Aviva Life Insurance Co India 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 currently held by Dabur Investment Corp. Insurance 940 14 30 M/s International Asset Reconstruction Co Pvt Ltd. Approval has been sought for purchase of its shares by KKR India Reconstruction Pte. Ltd, Singapore, .....

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ers Pvt Ltd Approval to increase foreign investment in the company from 26% to 49% by way of sale of shares to Risk Management Services, LLC, Oman. Insurance 2 4 M/s Whirlpool Asia Pvt Ltd A company with 99.997% FDI, has sought an approval for converting into a LLP. LLP 3 6 M/s Bupa Singapore Holdings Pte Ltd Approval to increase its investment in Max Bupa Health Insurance Company Limited from 26% to 49% by way of acquisition of shares from Max India Limited Insurance 4 20 M/s Standard Chartered .....

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a new factory in Amritsar for crushing of gypsum rocks to make gypsum powder, manufacturing of gypsum board etc. Manufacturing 6 33 M/s HSBC Securities and Capital Markets (India) Pvt Ltd Approval has been sought for:- I. Merger of the FIPB approval letter of even no FCII 229(1994)/300(1994) dated 13.05.1994 (read along with 18 amendments) and Approval letter of even no FC II 160(2005)/157(2005) dated 21.06.2005. II. Incorporating a Wholly Owned Subsidiary (WoS) which will act as a trustee comp .....

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CI Prudential Life Insurance Company Limited, Mumbai Approval for transfer of 2% of its shares currently held by ICICI Bank Limited (ICICI) to Compassvale Investments Pte. Ltd (Compassvale), a foreign entity and 4% shares to Hasham Traders, a resident Indian entity. Insurance The following ten (10) proposals have been rejected: S. No. Item No Name of the applicant Gist of the proposal Sector 1 1 M/s IMCD lndia Pvt Ltd Approval has been sought for issuing 4,213,814 Equity Shares of ₹ 10 ful .....

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M/s Phenomenex India Pvt Ltd Post Facto approval has been sought for issue of Shares on non-repatriation basis against Preoperative Expenses, and condonement of the delay in application. Cash and Carry whole sale trading 4 13 M/s You Broadband India Ltd a) Transaction 1: M/s You Broadband India Limited (YBIL), a public limited company offered rights issue of shares to all its existing resident and non-resident shareholders on February 6, 2015, at face value ₹ 10 for consideration amount &# .....

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of YBIL. Trading 5 14 M/s Lupin Limited Approval has been sought for removal of the compounding condition imposed in the approval letter dated 09.11.2015, for not seeking an approval from FIPB, for issuance of ESOPs prior to 11.06.2015. Pharma 6 15 M/s Perfectmehta Systems Outsourcing India LLP Approval has been sought for transfer of capital contribution by foreign partner to newly formed Indian LLP. The contribution of the foreign partner has not yet been received. LLP 7 17 M/s George Institut .....

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