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TMI Blog12 Foreign Direct Investment proposals approvedX X X X Extracts X X X X X X X X Extracts X X X X ..... 12 Foreign Direct Investment proposals approved - News and Press Release Dated:- 16-7-2008 - News - Finance Minister, Shri P. Chidambaram has approved 12 Foreign Direct Investment proposals recommended by Foreign Investment Promotion Board (FIPB) in its meeting held on 8 th July, 2008. The approval amounts to Rs. 354.13 crore approximately. The proposals are related to Ministries/Departments, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... namely Commerce, Information Technology, Road Transport Highways, Financial Services, Industrial Policy Promotion, Mines and Telecommunication. The details of the proposals approved are as follows: Sl. No. Name of the applicant Particulars of the proposal FDI/NRI inflows (Rs. In crore) COMMERCE 1 M/s Hammond Hardware Pvt. L ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... td., New Delhi To set up a JV Company with a foreign equity of 51% to manufacture items reserved for small scale sector. 0.55 ECONOMIC AFFAIRS 2 M/s Consulting Engineering Services (India) Pvt. Ltd., Delhi To induct foreign investment in operating company and to make downstream investment. Not indicated INFORMATION TECHNOLOGY 3 M/s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... KLG Systel Ltd., Gurgaon Ex Post Facto approval for issue and allotment of warrants exchangeable with and equivalent number of equity shares to certain Non-Resident investors in the Business of Software Development and IT enabled services. No Fresh Inflow ROAD TRANSPORT HIGHWAYS 4 M/s Costal Projects Pvt. Ltd., Hyderabad Conversion of operating company into ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an operating cum holding company and continuation of the equity participation. 160.00 COMMERCE 5 M/s Avnet India Pvt. Ltd. Conversion of operating company into an operating cum holding company. No Fresh Inflow ECONOMIC AFFAIRS 6 M/s Standard Chartered Bank (Mauritius) Ltd. Acquisition of additional equity either in the form of Compu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lsorily convertible preference shares or by way of equity shares and Conversion of operating company into an operating cum holding company. Proposal also attracts Press Note 1 of 2005. 19.45 FINANCIAL SERVICES 7 M/s Unicon Financial Intermediaries (P) Ltd. To increase the foreign investment in the holding company. The company is engaged in the commodity broking s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tock broking and other permitted non-banking finance activity. 120.00 INDUSTRIAL POLICY PROMOTION 8 M/s Marubeni (I) Pvt. Ltd. Conversion of operating company into an operating cum holding company to make downstream investment. No Fresh Inflow INFORMATION TECHNOLOGY 9 M/s Aurionpro Solutions Ltd. To issue equity shares and con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vertible warrants. Transfer of shares by way of share swap. 53.65 MINES 10 M/s Rio Tinto Exploration India Pvt. Ltd. Deletion of condition in lieu of para 3 of Press Note 7 of 2008, initially stipulated by FIPB. No Fresh Inflow TELECOMMUNICATION 11 M/s Marconi Telecommunication (I) Pvt. Ltd. To issue and allot equity shares against ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the trade payables taken over on account of import of materials, goods and services. No Fresh Inflow 12 M/s Singtel Australia Holdings Pte Ltd., Singapore Setting up of Joint venture company with a foreign equity up to 74% to undertake telecom services. Proposal attracts Press Note 1 of 2005 series. 0.48 The following 8 (eight) proposals have be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en deferred : Sl. No Name of the applicant Particulars of the proposal 1 M/s G4S Corporate Services India Pvt. Ltd., Gurgaon Conversion of existing status of operating company into foreign owned Indian Holding Company to make downstream investment. 2 M/s Winsome Propbuild Pvt. Ltd., New Delhi Change of status to operating cum holding co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mpany to make downstream investment. 3 M/s G.P. Realtors Pvt. Ltd., New Delhi Change of status to operating cum holding company to make downstream investment in permitted activities. 4 M/s Geld Consultancy Services Pvt. Ltd., Mumbai To set up JV to carry out the activities of Global Positioning System Hardware Software and services and related equipment fields ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 5 M/s JT International Mauritius Pvt. Ltd. To increase in foreign shareholding from 50% to 74%. The company is engaged in Tobacco sector. 6 M/s EZY Infosoft Pvt. Ltd., Chandigarh Conversion of operating company into an operating cum holding company, transfer of shares by way of share swap. Proposal also attracts Press Note 1 of 2005. 7 M/s Elke ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n International (I) Pvt. Ltd. To undertake cash and carry wholesale trading for the activities for which approval for test marketing was already obtained 8 M/s Delight Investments Pte Ltd., Singapore Induction of foreign equity in two Indian companies and to convert their status from operating company into operating -cum-holding company for making further downstream investm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ents The following one (1) proposal has been rejected: Sl. No Name of the applicant Particulars of the proposal 1 M/s Freedom Opthaimic Pvt. Ltd. Issue of 40% equity shares to the NRI under the single brand retail trading. The proposal of M/s Hughes Communication (India) Ltd has been advised to apply afresh as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... per new policy guidelines in telecom sector. BSC/GN-183/08 - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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