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TMI Blog17 FDI proposals approvedX X X X Extracts X X X X X X X X Extracts X X X X ..... 17 FDI proposals approved - News and Press Release Dated:- 17-11-2009 - News - Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on October 30, 2009, Government has approved 17 Proposals of Foreign Direct Investment amounting to Rs. 1158.78 Crore approximately. Following 17 (Seventeen) proposals have been approved . Sl . No. Name of the applicant Particulars of the proposal FDI/NRI inflows (Rs. In Crore) COMMERCE 1 M/s Milliken Chemical and Textile (India) Co. Pvt. Ltd., Maharashtra To issue equity shares against post-incorporation-expenses. No fresh inflow 2 M/s Vaibhav Gems Ltd., Jaipur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ex-post-facto approval for issuance and allotment of warrants. Nil 3 M/s FIAMM S.p.A. Italy To set up a joint venture to carry out Retail trading of lead acid batteries under the single brand. 0.24 INFORMATION BROADCASTING 4 M/s Diversified Communication India Pvt. Ltd., Mumbai Induction of 100% FDI in print media sector. 5.00 5 M/s Publish Industry India Pvt. Ltd., Pune Induction of 100% FDI for undertaking publishing of speciality magazines. 1.00 STEEL 6 M/s ArcelorMittal Netherlands B.V. Netherlands Induction of foreign equity in a company engaged in the business of manufacture of cold-rolled semi finished iron an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d steel products in cold rolling mills etc. The proposal attracts PN 1 of 2005. 503.37 BIOTECHNOLOGY 7 M/s Actis Biologics Pvt. Ltd. To issue shares against technology transfer. Nil FINANCIAL SERVICES 8 M/s Reliance Asset Reconstruction Company Ltd. Ex-post-facto approval for issue of partly paid up shares to foreign collaborators. Nil INDUSTRIAL POLICY PROMOTION 9 M/s Electrosteel Castings Ltd. To issue and allot eligible securities including equity shares and/or non convertible debt instruments alongwith warrants, on private placement basis. 600.00 10 M/s Mitsui Co. India Pvt. Ltd. Expansion of business activiti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es. The proposal attracts Press Note 1 of 2005. Nil INFORMATION BROADCASTING 11 M/s Star India Pvt. Ltd. Ex-post-facto approval for induction of foreign collaborator. Nil POWER 12 M/s Teesta Urja Ltd. Extension of time in order to enable the foreign collaborator to arrange the necessary funds for conversion of balance partly paid up shares into fully paid up equity shares. Nil TELECOMMUNICATION 13 M/s Hathway Cable and Datacom Pvt. Ltd. Induction of foreign equity by issuing IPO to undertake Cable TV Services as multimedia system operator and as Internet Service Provider category "A" licensee. 16.65 DEFENCE PRODUCTION ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 14 M/s Vyoneesh Technologies Pvt. Ltd., Delhi To set up a Joint Venture Company with 26% foreign equity for manufacturing, designing, etc. of defence related equipment. 1.56 INDUSTRIAL POLICY PROMOTION 15 M/s Clarita International Ltd., Mauritius To issue warrants. 30.96 INFORMATION BROADCASTING 16 M/s UTV Software Communication Ltd. To issue and allot equity shares pursuant to the scheme of arrangement approved by the Hon'ble High Court of Bombay. No Fresh Inflow TELECOMMUNICATIONS 17 M/s Sify Technologies Ltd. Merger of the company as per the Scheme of Amalgamation approved by the High Court of Madras. Nil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The following 12 (Twelve) proposals have been deferred : Sl . No Name of the applicant Particulars of the proposal 1 M/s Luxury Goods Retail Pvt. Ltd. Induction of foreign equity to carry out retail trading of products under the single brand. 2 M/s JM Financial Asset Reconstruction Company Pvt. Ltd., Mumbai Induction of foreign equity in a company engaged in the activities of Asset Reconstruction. 3 M/s Mercer Inc. New York To set up a JV company in the insurance sector. The proposal attracts PN 1 of 2005. 4 M/s Pepsico India Holdings Pvt. Ltd. Induction of additional foreign equity. 5 M/s Eads Deutchland GmbH (EADs), Germany ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and Larsen Toubro Limited (L T), Mumbai To incorporate a manufacturing Joint Venture company to undertake the production of defence equipment (manufacture of arms and armaments). 6 M/s Verizon Communications India Pvt. Ltd. Transfer of equity shares from non-resident shareholder to non-resident group in Telecom Sector. 7 M/s Telecom Investments India Pvt. Ltd. Sale and transfer of equity shares from Resident India to Non Resident. 8 M/s Out-of-Home Media (India) Pvt. Ltd., Mumbai Conversion of operating company into operating-cum-Investing Company and to make downstream investments. 9 M/s Premiere Conferencing (Ireland) Ltd., Ireland To set up a wholly owned subs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... idiary to undertake the business of providing audio/ web conferencing and collaboration services and data communication services in India. 10 M/s Scorpios Beverages Pvt. Ltd., Delhi Transfer of equity shares from Resident Indian to NR to make investments in Indian companies operating in the telecommunications sector. 11 M/s AG Mercantile Company Pvt. Ltd., Mumbai Transfer of equity shares from Resident Indian to NR to make investments in Indian companies operating in the telecommunications sector. 12 M/s DYNAMIC Alternatives (Pty) Ltd. To set up a Wholly Owned Subsidiary for the business of Detective Protective Services. The following 5 (Five) proposals have been rejected : ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Sl . No Name of the applicant Particulars of the proposal 1 M/s TCL India Holdings Pvt. Ltd. To issue and allot equity shares against import payables. 2 M/s Maharishi Solar Technology (P) Ltd., New Delhi Induction of investment from Indian company on behalf of a Foreign company on account of an arbitration proceeding. 3 M/s Nova Integrated Systems Ltd., Mumbai To issue fully and Compulsorily Convertible Debentures (CCDs)/ Equity Shares, for undertaking manufacturing and marketing of defence equipment. 4 M/s Jaipur IPL Cricket Pvt. Ltd., (JIPL), Mumbai To induct 100% foreign equity by way of issue of shares for consideration other than cash inflow. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5 M/s Opto Circuits (India) Limited, Bangalore Preferential issue of Convertible Warrants under SEBI (DIP) guidelines. The following 02 (Two) proposals have been noted : Sl. No. Name of the applicant Particulars of the proposal FDI/NRI inflows (Rs. In Crore) 1 M/s GE Capital Transportation Financial Services Ltd. Merger in accordance with the orders passed by the Hon'ble High Court sanctioning the scheme of amalgamation/merger. Nil 2 M/s Geomysore Services (India) Pvt Ltd. To take note of the scheme of the demerger. Nil The following 02 (Two) proposals have been recommended for the consideration of CCEA, as the investment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... involved in the proposals is above Rs. 600.00 Crore : Sl . No Name of the applicant Particulars of the proposal FDI/NRI inflows (Rs. In Crore) 1 M/s Jet Airways (India) Limited, Mumbai Equity investment through the Qualified Institutions Placements (QIP) route from qualified Foreign Institutional Investors (FIIs). 2000.00 2 M/s Indium IV (Mauritius) Holdings Ltd. To invest in the units of the Fund. 2500.00 - 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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