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TMI Blog29 FDI PROPOSALS APPROVEDX X X X Extracts X X X X X X X X Extracts X X X X ..... 29 FDI PROPOSALS APPROVED - News and Press Release Dated:- 4-3-2009 - News - Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on 23 rd February, 2009, Government has approved 29 Proposals of Foreign Direct Investment amounting to Rs. 616.08 Crore approximately. The proposals relate to Ministries/Departments, namely, Commerce, Economic Affairs, Information Broadcasting, Telecommunication, Tourism, Industrial Policy Promotion, Post, Defence Production, and Urban Development. Details of 29 proposals which have been approved : Sl. No. Name of the applicant Particulars of the proposal FDI/NRI inflows (Rs. In Crore) COMMERCE 1 M/s Pol ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... trona Frau S.p.A Single Brand retail trading. 21.50 ECONOMIC AFFAIRS 2 Bharath Wind Farms Ltd., Chennai Conversion of operating company into operating cum holding company to make downstream investments. No Fresh Inflow 3 M/s Lisi Aerospace and Lanc Aero Industries, France Conversion of operating company into operating cum holding company to make downstream investments. 9.70 4 M/s Matrix Laboratories Ltd., Secunderabad Conversion of operating company into operating cum holding company to make downstream investments. 3.72 5 M/s Astrix Laboratories Ltd., Secunderabad Transfer of shares from NR to NR. Proposal attracts Press Note 1 of 200 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5. No Fresh Inflow 6 M/s Avendus Capital Pvt. Ltd., Mumbai Conversion of operating company into operating cum holding company to make downstream investments to undertake the activities of NBFC. No Fresh Inflow 7 M/s WNS Global Services Pvt. Ltd. Conversion of operating company into operating cum holding company to make downstream investments. No Fresh Inflow 8 M/s Cinema Capital Ventures Fund Induction of foreign investments in units of a scheme of an Indian venture capital fund, organized as a trust and registered under the Securities and Exchange Board of India (Venture Capital Fund Regulations), 1996 (VCF Regulations) engaged in the media and entertainment (M E) sector ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in India. 50.00 9 M/s EBS Worldwide Services Pvt. Ltd. Mumbai. Conversion of operating company into operating cum holding company to make downstream investments. 0.42 10 M/s Velankani Information Systems Pvt. Ltd. Bangalore Post facto approval for conversion of operating company into operating cum holding company to make downstream investments. No Fresh Inflow 11 M/s Shalivahana Green Energy Ltd. Secunderabad. Conversion of operating company into operating cum holding company to make downstream investments and transfer of equity form resident to non-resident. 13.14 INFORMATION BROADCASTING 12 M/s What's on India Media Pvt. Ltd., Mumbai T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o hold a TV channel license for up-linking a non-news and current affairs TV channel from India No Fresh Inflow TELECOMMUNICATION 13 M/s Telcordia Technologies Inc. USA Induction of foreign equity upto 74% to carryout the activities of mobile number portability solutions. 45.00 TOURISM 14 M/s AAPC Singapore Pte Ltd., Singapore To invest up to 100% in an Indian company by subscribing to equity/ fully convertible preference shares; and / or subscribe to fully convertible debentures to construct, develop, own and manage Formule 1 hotels in India. The proposal attracts Press Note 1 of 2005. 365.78 COMMERCE 15 M/s Zepter International India Pvt Ltd. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... To waive of the condition of test marketing and to carry out wholesale cash carry business only. No Fresh Inflow INDUSTRIAL POLICY PROMOTION 16 M/s R.E.D. Graniti Quarries and Blocks (I) Pvt. Ltd. Conversion of operating company into operating cum holding company to make downstream investments. No Fresh Inflow 17 M/s Caparo Engg (I) Pvt. Ltd. To issue and allot equity shares against the full and final discharge on account of import of machinery. No Fresh Inflow 18 M/s Thomyan Food Industries (I) Pvt. Ltd. To undertake the additional activities of manufacturing of items covered under the SSI itesms. No Fresh Inflow 19 M/s Macquarie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Capital Adviser (India) Pvt. Ltd. To modify the percentage of equity share capital set out in the approval letter and to delete the condition of compounding. No Fresh Inflow INFORMATION BROADCASTING 20 M/s Reed Infomedia (I) Pvt. Ltd. To publish additional magazines. No Fresh Inflow COMMERCE 21 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 1 of 2005. 0.01 ECONOMIC AFFAIRS 22 M/s Dynamatic Technologies Ltd., Bangalore Ex-post facto approval for engaging in the business of defense and strat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... egic industries. Not indicated 23 M/s High Mark Credit Information Services Pvt. Ltd., Mumbai To issue and allot up to 10% of the issued share capital. 5.00 24 M/s Logix Microsystems Ltd., Bangalore Transfer of shares by way of share swap. 4.00 25 M/s ABG Bulk Handling Pvt. Ltd., Mumbai Conversion of operating company into an operating cum holding company to make further downstream investment. 90.00 26 M/s eSys Information Technologies Ltd. Conversion of operating company into an operating cum holding company to make further downstream investment. No Fresh Inflow POST 27 M/s ELbee Express Pvt. Ltd. To issue and allot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Cumulative Compulsory Convertible Preference shares. The company is engaged in the business of providing courier and logistics services. 7.81 DEFENCE PRODUCTION 28 M/s Astra Microwave Products Limited, Hyderabad FDI investment up to 26% in a company proposing to engage in manufacture of licensed defence items No Fresh Inflow URBAN DEVELOPMENT 29 M/s HBS Realtors Pvt. Ltd., Mumbai Conversion of operating company into an operating cum holding company to make further downstream investment. Already noted The following 19 (Nineteen) proposals have been deferred : Sl. No Name of the applicant Particulars of the proposal 1 M/s John ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Deere Construction Forestry, USA To set up a JV to carry out the manufacturing, marketing and distribution of all types of construction equipments. The proposal attracts Press Note 1 of 2005. 2 M/s BNP Paribas Securities Services Ltd., France (i) To subscribe either directly or through a wholly owned subsidiary to equity shares constituting 49% of the post investment issued and paid up share capital and any additional shares that may be issued form time to time and, (ii) to constitute a joint venture for undertaking the business of providing registrar and share transfer agency services (including for mutual funds) and other ancillary securities services in India in compliance with applicable laws. 3 M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /s Unitech Ltd., Gurgaon Conversion of operating company into operating cum holding company to make downstream investments to carry out the business of construction and development of real estate projects. 4 M/s Ortus Infratel and Holdings Pvt. Ltd., New Delhi Induction of FDI in the companies engaged in telecom infrastructure providers (Category-I) and conversion of operating company into operating cum holding company to make downstream investments. 5 M/s Saket Engineers Pvt. Ltd. Bangalore. Conversion of operating company into operating cum holding company to make downstream investments to undertake Real estate development projects and to make downstream investments in entities undertaking FDI comp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... liant projects/activities. 6 M/s Thales Avionics S.A. France To set up a JV with a foreign equity participation of 26% in Defence sector. 7 M/s TRW Aftermarket Asia Pacific Pte Ltd., Singapore To set up a Joint Venture Company to undertake the business of airbag modules for installation onto vehicles produced in India. The proposal attracts Press Note 1 of 2005. 8 M/s Tikona Digital Networks Pvt. Ltd., Mumbai Induction of foreign investment by issuing CCDs and equity shares to undertake developing, establishing and operating infrastructure as a Category-A Internet Service Provider. 9 M/s Yamaha Motor India Sales Pvt. Ltd. Transfer of business operations to a company ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... engaged in the business of manufacture, sale, import exports of motorcycles, bi-wheelers and parts thereof. 10 M/s Information Tech Park, Bangalore Buy-back of built up space constructed by the company itself under the Industrial Park Policy and leasing out the same to clients. 11 M/s Quippo Telecom Infrastructure Ltd.(QTIL) Conversion of operating company into operating cum holding company to make downstream investments and demerger of passive telecom infrastructure business approved by the High Court of Andhra Pradesh. 12 M/s Tanla Solutions Ltd., Hyderabad Conversion of operating company into operating cum holding company to make downstream investments. 13 M/s Hiranan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dani Realtors Pvt. Ltd., Mumbai Conversion of operating company into an operating cum holding company to make further downstream investment. 14 M/s Lakepoint Builders Pvt. Ltd., Mumbai Conversion of operating company into an operating cum holding company to make further downstream investment. 15 M/s DNATA, UAE To set up a JV company to provide ground handling services for both domestic and international operators as well as cargo handling and related services. 16 M/s ABG Kandla Container Terminal Ltd. Conversion of operating company into an operating cum holding company to make further downstream investment. 17 M/s Broadband Pacenet (India) Pvt. Ltd., Mumbai Induct ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of foreign equity by way of subscribing to or acquisition of shares up to 74% equity of the company. 18 M/s NSK Holding Pvt. Ltd. Transfer, issue of equity shares and/ or compulsory convertible instruments into equity shares to Foreign Collaborator. To acquire the status of foreign owned Indian holding company and to make downstream investment. 19 M/s JT International Mauritius Pvt. Ltd To increase in foreign shareholding from 50% to 74%. The following 1 (One) proposal has been rejected : Sl. No Name of the applicant Particulars of the proposal 1 M/s ICP Investments (Mauritius) Ltd. Mauritius Transfer of Shares from NR to NR (repatriation of origin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al investment before a period of three years from completion of minimum capitalization. The following 1 (One) proposal has been withdrawn by the applicant . Sl. No Name of the applicant Particulars of the proposal FDI/NRI inflows (Rs. In Crore) 1 M/s Indtech Construction Pvt. Ltd., New Delhi Transfer of rights attached with warrants exercisable into equity shares. 25.40 The following 01 (One) proposal has been noted as the applicant has invested at a time when there was no policy on FDI in commodity exchange . Sl. No Name of the applicant Particulars of the proposal FDI/NRI inflows (Rs. In Crore) 1 M/s Goldma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n Sachs Investments (Mauritius) I Ltd., Mauritius Ex-Post-facto approval for acquisition of equity shares representing 7% of the paid up and issued share capital and divestment of excess investment of 2% by June 30, 2009 to undertake the commodity exchange. No Fresh Inflow - 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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