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Government approves four FDI proposals based on the recommendations of 241st Meeting of Foreign Investment Promotion Board (FIPB) held on 27th October 2016

News and Press Release - Dated:- 24-11-2016 - Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 241st meeting held on 27th October 2016, the Central Government has approved four 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 BMJ Group lndia Pvt Ltd Ex post facto approval has been sought by M/s BMJ Group India Private Limited for carr .....

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irect investments by way of subscription to compulsorily convertible preference shares, compulsorily convertible debentures and equity shares. Publication Appx. 44.41 3 10 Dr. Reddy's Laboratories Ltd Approval has been sought by M/s Dr. Reddy s Laboratories Limited, a foreign owned Indian pharmaceutical company, to acquire M/s Imperial Credit Private Limited, an Indian NBFC. Pharmaceuticals 36.00 4 19 M/s Quintillion Business Media Pvt. Ltd Approval has been sought by M/s Quintillion Busines .....

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tor as a telecom infrastructure service provider. Advertising & Telecom Services 2 4 M/s Panacea Publishing Pvt. Ltd The Applicant is seeking ex post facto approval for the share transfer between the non-resident entities. Pursuant to global restructuring, the foreign investor in Panacea India, M/s Panacea Publishing International Limited, UK transferred its entire shareholding to its group company M/s Panacea Media Limited, UK. Publication 3 9 M/s Recipharm Participation BV M/s Recipharm Pa .....

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algamate into CPSPL, which is part of the Springer Group of companies. IT and ITES 5 12 M/s Scientific Publishing Services Pvt Ltd Approval has been sought by M/s Scientific Publishing Services Private Limited (SPSPL) for issuance of equity shares to the non-resident shareholders of M/s Springer SBM Services Limited, a Mauritius Company under a Scheme of Amalgamation of SBM Services with SPSPL, pursuant to approval of the High Court. IT and ITES 6 15 M/s JCB international Company Ltd JCB Interna .....

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t by Netmagic Solutions Private Limited for the increase in the shareholding of NTT Communications Corporation, Japan in the company from 81.63% to 100%. Telecom 8 18 M/s Flag Telecom Singapore Pte Ltd M/s Flag Telecom Singapore Pte Limited Singapore, an indirect WOS of Reliance Communications 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 The following four (04) proposa .....

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es lndia Pvt Ltd Approval has been sought by M/s Schoeller Technologies India Pvt. Ltd. after directions from SIA, DIPP to obtain the approval of FIPB as FDI beyond 49% in Defence requires prior government approval. The applicant is engaged in the business of textiles and has applied for a tender with Ministry of Defence for supply of defence-related products. Defence manufac-turing 3 8 M/s bioMerieux lndia Pvt Ltd Approval has been sought by M/s bioMerieux India Pvt. Ltd. for deletion of Clause .....

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