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Government Approves Three (3) Proposals of Foreign Direct Investment (FDI)

News and Press Release - Dated:- 21-9-2016 - Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 239th meeting held on 30th August 2016, the Government of India has approved three FDI proposals as per details enclosed. The following three (03) proposals have been approved: S. No Item No Name of the applicant Gist of the proposal Sector FDI (Rs. crore) 1 1 Dr. Willmar Schwabe lndia Pvt Ltd Approval has been sought for the following additional activities: i. To commenc .....

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ng Company Nil 3 3 M/s Bugworks Research India Private Limited approval for transfer of equity shares from existing resident shareholders to M/s Bugworks Research Inc, USA ( Bugworks Research Inc ) aggregating to shareholding of 99.99% of the paid up equity share capital of Bugworks India. Pharma 0.35 The following seven (07) proposals have been deferred: S. No. Item No Name of the applicant Gist of the proposal Sector 1 4 M/s Rain Industries Limited Approval has been sought for transfer of 51,5 .....

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or. Government Approval is now required due to change in the Main Objects of the Company i.e. publishing of scientific and technical magazines. Print media 3 6 M/s Bashundhara Paper Mills India Private Limited approval to allow the foreign investment against the initial subscription of the equity shares and proposes to undertake Cash and Carry Whole sale Trading/Wholesale Trading of paper napkins, tissue rolls, hygiene products and other related products. Cash and Carry Whole sale Trading/Wholes .....

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ctivities of mutual fund distributor through its mobile application namely, Moneyview, to assist its users in investing into mutual funds. In this context, the Company has sought: (i) Confirmation of the FIPB that the proposed activities of acting as a mutual fund distributor are under the automatic route. (ii) If the proposed activities fall under the other financial services sector which is under approval route, FIPB s approval may be granted. Financial Services 6 11 M/s TM Harbour Services Pr .....

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