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Government Approves Four (4) Proposals of Foreign Direct Investment (FDI)

News and Press Release - Dated:- 22-10-2016 - Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 240th Meeting held on 26th September 2016, the Government of India has approved four (04) of Foreign Direct Investment (FDI) proposals as per details enclosed. The following four (04) proposals have been approved: S. No Item No Name of the applicant Gist of the proposal Sector FDI (Rs. crore) 1 1 M/s DiaVikas Capital Private Limited Approval has been sought by M/s DiaVik .....

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/s IBM India Pvt Ltd Approval has been sought by IBM India Private Limited for the following: i. Merger of its Wholly owned subsidiaries i.e. Telelogic India Private Limited, Unica Softtech Systems India Private Limited and Bigfix Software (India) Private Limited (all dormant companies) into its another WoS, Sterling Commerce Solutions Private Limited which is an investing company. ii. Post-facto approval for Telelogic India Private Limited, a subsidiary of IBM India to act as an investee compan .....

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a. v. Post facto approval for M/s Micromuse India Private Limited, Cognos Software Private Limited, Ascential Software (India) Private Limited, Corio India Infotech Services Private limited and PSDI India Private Limited for acting as dormant companies, after transfer of software development business to their holding company, Telelogic India. IT, Investing company Nil 4 14 M/s Sharekhan Limited Approval has been sought for:- Acquisition of up to 100% of the share capital of M/s Sharekhan Limited .....

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om Singapore Pte. Limited, Singapore an indirect wholly owned subsidiary of Reliance Communications (RCOM), India has sought approval to acquire 100% shares of M/s Reliance Global Cloud Xchange Limited which has been recently incorporated in June 2016 by Indian residents. Telecom 2 9 M/s You Broadband India Limited M/s You Broadband India Limited (YBIL) has sought post facto approval for acquisition of 9,79,875 equity shares of its downstream company M/s Digital Outsourcing Private Limited (DOPL .....

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ease of foreign investment in ICISL beyond 50% and allow foreign investment in ICISL up to 67.5%. Telecom The following four (04) proposals have been rejected: S. No. Item No Name of the applicant Gist of the proposal Sector 1 2 M/s Limpkin Telecom Private Limited M/s Limpkin Telecom Private Limited has sought approval for 100% foreign investment for providing telecom services from Ms. Jorden Elizabeth, a UK citizen for an aggregate consideration of INR 3.00 crore. Telecom 2 3 M/s Damco Soft Pri .....

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mmunica-tions M/s BT Global Communications (Mauritius) Limited has sought approval to acquire remaining 26% equity and preference share capital of M/s BT Telecom India Private Limited (Investee Company) from M/s Jubilant Stock Holding Private Limited, which will result in increasing its shareholding in the investee company from 74% to 100%. Telecom The following four (04) proposals do not lie before FIPB: S. No. Item No Name of the applicant Gist of the proposal Sector 1 5 M/s Perrigo API India .....

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