8 FDI Proposals approved

Sl. No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows (Rs. In Crore)

1

M/s Takata Corporation, Japan

Aggrieved with the recommendation of the FIPB, the Indian JV partner (Dhiraj Dhar Gupta and Anr/Abhishek Auto Industries) filed a writ in Delhi High Court.  The Delhi High Court in its order dated July 8, 2009 in WP(C)7912/2008, has asked the FIPB to hear both the parties & convey the decision by September 8, 2009.

No Fresh Inflow

2

M/s Clivet TF Air Systems (P) Ltd., Bangalore

To issue shares for other than cash consideration.

No Fresh Inflow

3

M/s NR Hytech Engineers Pvt. Ltd., Thane

Ex-post-facto approval for issuance of shares against import of machinery.

No Fresh Inflow

4

M/s Powermax Communications Pvt. Ltd., New Delhi

To increase in the foreign equity participation from the existing 49% to 74% in the enhanced paid up capital.  The company is engaged in providing broadband communication networks, systems, products and services, power transmission and distribution management systems and services and smart grid networks, systems, services and products.

0.03

5

M/s Exensys Software Solutions Ltd.

Ex-post facto approval for issuance of warrants convertible into equity shares.

No Fresh Inflow

6

M/s Big Drum India Pvt. Ltd., Hyderabad

To allot shares in lieu of consideration of the value of the machineries supplied.  

No Fresh Inflow

7

M/s ISNI Electric Power Company Pvt. Ltd., USA

To issu`e and allot equity shares against pre incorporation expenses.

No Fresh Inflow

8

M/s Tecnotree Convergence Ltd.,

Transfer of shares by way of share swap.

1.28

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Taneja Aerospace and Aviation Ltd., Tamil Nadu

To regularize the FII investment in the Defence Sector.

2

M/s Eads Deutchland GmbH (EADs), Germany and Larsen & Tourbo Limited (L&T), Mumbai

To incorporate a manufacturing Joint Venture company to undertake the production of Defence equipment (manufacture of arms and armaments).

3

M/s Sahajanand Medical Technologies Pvt. Ltd., Surat

Transfer of shares by way of share swap.  The Indian company has one SSI Unit.

4

M/s Rish Pte. Ltd.

Transfer of shares from an erstwhile OCB to NR.

5

M/s Rish Pte. Ltd.

Transfer of shares from OCB to Non-Resident

6

M/s ByCell Telecommunication Pvt. Ltd.,

A decision is required to be taken in the light of the High Court's directions that any representation made by ByCell is to be considered by FIPB in light of MHA's objections to security credentials of the company.

7

M/s Devas Multimedia Pvt. Ltd.,

To induct fresh foreign equity participation with the induction of a new foreign collaborator.

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Capricorn Infrastructure Pvt. Ltd., Mumbai

To seek relaxation in the clause (b) of Press Note 2 of 2005 with respect to minimum capitalization and asking the permission to receive balance amount as fresh inflow of funds to achieve the minimum capitalization norms.

Sl. No

Name of the applicant

Particulars of the proposal

FDI/NRI inflows (Rs. In Crore)

1

M/s India Rizing Fund

To amend the FC approval.

No Fresh Inflow

Sl. No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows (Rs. In Crore)

1

M/s Coles Cranes Group Ltd., U.K

To purchase equity shares instead of warrants through Stock Exchange(s) and/or through block deal remitted already for the purchase of warrants.

No Fresh Inflow

Sl. No

Name of the applicant

Particulars of the proposal

FDI/NRI inflows (Rs. In Crore)

1

M/s Unitech Wireless (Tamilnadu) Pvt. Ltd

To increase the foreign shareholding up to 74%.

3740.00