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TMI Blog12 FDI Proposals ApprovedX X X X Extracts X X X X X X X X Extracts X X X X ..... 12 FDI Proposals Approved - News and Press Release Dated:- 30-1-2009 - News - Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on 22nd January, 2009, Government has approved 12 Proposals of Foreign Direct Investment amounting to Rs. 751.51 Crore approximately. The proposals relate to Ministries/Departments, namely, Economic Affairs, Civil Aviation, F ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ood Processing Industry, Information Broadcasting and Commerce. Details of the proposals approved are as follows: Sl. No. Name of the applicant Particulars of the proposal FDI/NRI inflows (Rs. In Crore) ECONOMIC AFFAIRS 1 M/s Interglobe Technology Quotient Pvt. Ltd., Gurgaon Conversion of operating company into operating cum hol ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ding company to make downstream investments. No Fresh Inflow 2 M/s Capulelt Ltd., Mauritius Conversion of equity by an erstwhile OCB from non-repatriation to repatriation basis. No Fresh Inflow 3 M/s AFC Network India Pvt. Ltd., New Delhi Induction of foreign equity by way of transfer of equity shares from the initial subscriber and also by way of allo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tting fresh equity shares of the company for undertaking down-linking of Non News Current Affairs Channels. 1.5 4 M/s AIR Works India Engineering Pvt. Ltd., Gurgaon Conversion of operating company into operating cum holding company to make downstream investments. No Fresh Inflow 5 M/s Interactive Avenues Marketing Solutions Pvt. Ltd., Mumbai Post fac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to approval for conversion of operating company into operating cum holding company to make downstream investments. No Fresh Inflow 6 M/s Amritjal Venture Pvt. Ltd., Secunderabad Conversion of operating company into operating cum holding company to make downstream investments. 300.00 7 M/s Menzies Aviation Bobba (B'lore) Pvt. Ltd., Bengaluru Ex-post fac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to approval for partly paid up preference shares. No Fresh Inflow 8 M/s GTI Mediventures, Mauritius To set up a foreign owned Indian holding company to make downstream investments. 0.01 CIVIL AVIATION 9 M/s Blue Dart Express Ltd. To acquire additional shares to carry out the Value added transportation infrastructure business. No Fresh In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... flow FOOD PROCESSING INDUSTRY 10 M/s McCain Foods(I) Pvt. Ltd. To delete one of the condition of the FC approval. No Fresh Inflow INFORMATION BROADCASTING 11 M/s Wire and Wireless (I) Ltd. Issuance of partly paid-up equity shares. 450.00 COMMERCE 12 M/s Genworth Financial Inc, USA Amendment in the exist ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing FIPB approval. No Fresh Inflow 2. The following 5 (Five) proposals have been deferred: Sl. No Name of the applicant Particulars of the proposal 1 M/s Mallcom (India) Ltd., Kolkata Induction of foreign equity in the enhanced paid up capital to carry out the marketing and selling industrial safety products. The proposal attracts Press Note ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 of 2005. 2 M/s Comecer S.P.A. Italy To set up a WOS for undertaking the activities of trading of items sourced from small sector and Test marketing. 3 M/s Tanla Solutions Ltd., Hyderabad Conversion of operating company into operating cum holding company to make downstream investments. 4 M/s Akar Info-Media Pvt. Ltd., Ahmedabad Induction of fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reign equity by issuing and allotting equity shares to carry out the activity of publishing of technical magazines. 5 M/s DSP Technology India Pvt. Ltd., Bangalore Transfer of shares by way of share swap 3. The following 3 (Three) proposals have been rejected : Sl. No Name of the applicant Particulars of the proposal 1 M/s Three C Inv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... estment (Mauritius) Ltd., Mauritius Conversion of non-repatriable shares into re-patriable shares. 2 M/s Southern CNG Automobiles India Pvt. Ltd., Kolkata Induction of FDI by a Bangladeshi National to set up a CNG conversion plant and refilling station. 3 M/s G4S Corporate Services India Pvt. Ltd., Gurgaon Conversion of existing status of operating company ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... into foreign owned Indian Holding Company to make downstream investment. 4. The Board noted the request of M/s Suzlon Energy Ltd., Ahmedabad for raising FDI through ADR/Preferential allotment of shares instead of rights issue and for raising the FDI percentage from 20.76% to 25.25%. BSC/BY/DN-27/08 - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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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