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TMI Blog19 FDI Proposals ApprovedX X X X Extracts X X X X X X X X Extracts X X X X ..... 19 FDI Proposals Approved - News and Press Release Dated:- 13-1-2011 - News - Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on December 31, 2011, Government has approved 19 Proposals of Foreign Direct Investment amounting to `Rs.4340.77 crore approximately. Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 31.12.2010. Following 19 (Nineteen) proposals have been approved . Sl. No. Name of the applicant Particulars of the proposal FDI/NRIinflows ( Rs. incrore) CORPORATE AFFAIRS 1 M/s Responsive Industries Ltd., Mumbai To issue warrants to carry out the bu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... siness ofmanufacturing PVC products such as PVC leather cloth, vinyl floorings, rigid blister films and soft sheeting. 1.75 DEFENCE PRODUCTION 2 M/s EADS DeutschlandGmbH and M/s LARSEN TOUBRO Ltd. Mumbai Induction of foreign equity upto 26 per cent to carryout the business of manufacturing, distributing andmarketing of products in the market segments of electronic warfare, military avionics, mobile systems (defence related) and radars. 7.8 ECONOMIC AFFAIRS 3 M/s Future VenturesIndia Limited, Mumbai Induction of foreign equity in investing company byway of issue and allotment of equity shares in the IPO of the company to FIIs and NRIs under the PortfolioInvestment Scheme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (PIS). 300.00 4 M/s StandardChartered Bank(Mauritius) Limited, Mauritius To acquire equity shares of an India company whichwill undertake additional business of operating a stockexchange and specifically trade in currency andinterest rate futures. 4.50 5 M/s TSW Holding GmbH, Austria To set up a WOS to act as an investing company. 0.01 FINANCIAL SERVICES 6 The Karur Vysya BankLtd., Karur To issue partly paid up shares. 107.50 HEAVY INDUSTRY 7 M/s Yorozu Corporation, Japan To set up a JV Company to undertake the businessof manufacture of chassis, suspension parts and otherautomotive parts. The proposal attracts para 4.2.2.2 o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f Circular No. 2 of 2010 of the Consolidated FDI Policy. 140.00 INFORMATION BROADCASTING 8 M/s A E TelevisionNetworks, LLC, New York, USA To subscribe to the equity shares of an Indiancompany engaged in up-linking and down-linking of Non-News and Current Affairs Channels in India. 22.50 POST 9 M/s Federal ExpressEurope Inc, USA To set up a WOS to undertake the business of Courier, Express Transportation, Logistics andWarehousing Services. 607.00 STEEL 10 M/s JFE Shoji TradeCorporation, Japan To subscribe to the shares of an Indian companyengaged in the business of manufacturing of various types of steel products. The proposal attracts par ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a4.2.2.2 of Circular No. 2 of 2010 of the Consolidated FDI Policy. 38.39 (USD 8,577,919) 11 M/s Tata SteelLimited, Mumbai To issue warrants as part of fund mobilization plan. 1100.00 INDUSTRIAL POLICY PROMOTION 12 M/s EnnoreAutomotive LogisticsLimited To make amendment in the FC approval to bring innew foreign investor in an Investing Company. 0.39 DEFENCE PRODUCTION 13 M/s Lakshmi MachineWorks Ltd., Tamil Nadu To undertake new activities of manufacture parts, components and accessories for aircraft and spacecraft to be supplied to civil and defence sectors. No FreshInflow MINES 14 M/s HindalcoIndustries Ltd., Mumba ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... i Ex-post-facto approval for issuance of partly paidup shares as part of Rights Issue. 508.63 (already brought) TELECOMMUNICATIONS 15 M/s Wireless BusinessServices Pvt. Ltd., Mumbai Induction of foreign equity to carry out thebusiness of internet and broadband services. 371.12 16 M/s Wireless Broadband BusinessServices (Haryana) Pvt. Ltd., Delhi Induction of foreign equity to carry out thebusiness of internet and broadband services. 20.36 17 M/s Wireless Broadband BusinessServices (Delhi) Pvt. Ltd., Delhi Induction of foreign equity to carry out thebusiness of internet and broadband services. 362.78 18 M/s Wireless Broadband BusinessService ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s (Kerala) Pvt. Ltd., Delhi Induction of foreign equity to carry out thebusiness of internet and broadband services. 42.64 ECONOMIC AFFAIRS 19 M/s Falcon Tyres Ltd., Karnataka Induction of foreign equity by way of issue partlypaid up shares. 705.40 The following 16 (Sixteen) proposals have been deferred : Sl. No Name of theapplicant Particulars of the proposal 1 M/s Aim Star NetworkEnterprise Pvt. Ltd., Mumbai Induction of foreign equity upto 100 per cent to undertake the activities of trading of items sourced from Medium Small Scalesector. 2 M/s Rhodia S.A., France To set up a WOS to undertake the activities r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elating tomanufacturing chemicals relating to polyamide meant for engineeringplastics and silica. The proposal attracts para 4.2.2.2 of Circular No. 2 of 2010 of the Consolidated FDI Policy. 3 M/s RahimafroozBatteries Ltd., Bangladesh To set up a WOS to undertake import and wholesale distribution of batteries and providing after sales services in India by a companyfrom Bangladesh. 4 M/s Maini PrecisionProducts Pvt. Ltd., Bangalore To undertake defence related additional activities of manufactureof parts and accessories of aircrafts, spacecrafts. 5 M/s KantilalChhaganlal Securities Pvt. Ltd., Mumbai Ex-post-facto approval for issuance of warrants to carry out thebusiness of Stock broking ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... activities in cash, futures and options segment. 6 M/s DhunseriInvestments Ltd., Kolkata To issue and allot equity shares to the non-resident shareholderconsequent upon demerger. 7 M/s NetmagicSolutions Pvt. Ltd., Mumbai To increase foreign equity from 49 per cent to 74 per cent to carryout the business of ISP with gateways. 8 M/s Mango Holding Limited, Bangladesh To subscribe to equity shares of an Indian company engaged in thebusiness of manufacturing and Supply of Wireless Equipment by a company from Bangladesh. 9 M/s Augere Wireless Broadband India Pvt. Ltd., Delhi To increase foreign equity from 49 per cent to 74 per cent to carryout the business of Broadband wire ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... less services, internet services andother telecommunication related services. 10 M/s ABG Shipyard Ltd., Mumbai To enter into Defence Contracts 11 M/s JubilantAeronautics Pvt. Ltd. (JAPL), Delhi Induction of foreign equity to carry out the manufacturing ofdifferent types of Unmanned Aerial Systems (UAS) and accessories. 12 M/s VerizonCommunications IndiaPvt. Ltd. Transfer of equity shares from non-resident shareholder to non-resident group in Telecom Sector. 13 M/s Pran Beverages (India) Pvt. Ltd., Kolkata Induction of foreign equity by a company from Bangladesh. 14 M/s Checkmate Services Pvt. Ltd., Gujarat Induction of foreign equity in a company engag ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed in privatesecurity services. 15 M/s RelianceBroadcast Network Ltd., Mumbai Induction of foreign investment by FIIs, NRIs by way of freshallotment of shares by private placement or otherwise and/or investments through Stock Exchanges by way of portfolioinvestments, upto the limit of 20% of the total aid up capital of thecompany. The company is engaged in FM Radio Broadcasting. 16 M/s Essar CapitalHoldings (India) Ltd., Mumbai Acquisition of equity shares by way of subscription to new equity shares and/or purchase of existing equity shares in an investingcompany engaged in the telecom sector. The following 2 (Two) proposals have been rejected: Sl. No Name of theapp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... licant Particulars of the proposal 1 Mr. JaishankarRamchandran and Nicholls Steyn Associates (Pty) Ltd., South Africa Induction of foreign equity to carry out the business of PrivateSecurity Agency. 2 M/s B4U TelevisionNetwork (India) Pvt. Ltd. Induction of foreign equity by an erstwhile OCB to carry out thebusiness of up-linking a non-news and current affairs TV channel. The following 1 (One) proposal has been withdrawn from the agenda : Sl. No Name of the applicant Reasons 1 M/s Forbo Holding AG,Lindenstrasse, Switzerland This proposal attracts para 4.2.2.2 of Circular No. 2 of 2010 of the Consolidated FDI Polic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y. Applicant's contention regardingtermination of agreement is contested by Indian partner. - 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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