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

S. No.

Item No

Name of the applicant

Gist of the proposal

Sector

FDI (in Rs. Crore)

1

7

M/s  Firefly Networks Ltd

Approval has been sought by M/s Fire Fly Networks Limited for approval of the existing foreign investment (50% indirect) and to permit commencement of activities as a Telecom Infrastructure Provider Category-I (IP1).

Telecom

Nil

S. No

Item No

Name of the applicant

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

S. No.

Item No

Name of the applicant

Gist of the proposal

Sector

1

1

M/s Quantum Simulators Pvt Ltd

Approval to set up a stimulator Manufacturing Company in India for various applications including military and commercial uses in technical collaboration with leading US Company M/s Textron with US $ 15 Billion revenue. Further  M/s Quantum Simulator has a JV agreement with a Indian company who would be holding 51% and the balance 49% by Quantum

Defence

2

2

M/s Sharekhan Limited

Acquisition of up to 100% of the share capital of Sharekhan Limited other than the shares held in Sharekhan Limited by Human 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 currently held by Dabur Investment Corp.

Insurance 

4

9

M/s Tata Sikorsky Aerospace Limited

Approval has been sought for
non-resident to non-resident transfer of 26% of the shares of Tata Sikorsky Aerospace from M/s United Technologies International Corporation - Asia Private Limited to M/s Lockheed Martin Global, Inc. (USA).

Defence

S. No.

Item No

Name of the applicant

Gist of the proposal

Sector

1

5

M/s Software is Correct, Inc.

Approval has been sought for infusing fresh funds of up to USD 15 million in its wholly owned Indian subsidiary

IT/ITES

S. No.

Item No

Name of the applicant

Gist of the proposal

Sector

1

3

M/s P C Ghadiali and Co LLP
Nexus Flight Operation Services India Pvt. Ltd.

P C Ghadiali and Co LLP, a CA firm has been appointed by Mazav Management LLC, USA to apply on their behalf to FIPB for the acquisition of 24% shareholding in Nexus Flight Operation Services India Pvt. Ltd, held by Sovika Aviation Services Private Limited.

Ground Handling Services

S. No.

Item No

Name of the applicant

Gist of the proposal

Sector

1

4

M/s SunE Solar B.V.

Approval is sought by SunE Solar B.V., a company registered in Netherlands, to set up a LLP in India along with SunEdison Energy India Private Limited and SunEdison Solar Power India Private Limited, both private limited companies incorporated in India.

LLP