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TMI Blog21 FDI Proposals ApprovedX X X X Extracts X X X X X X X X Extracts X X X X ..... 21 FDI Proposals Approved - News and Press Release Dated:- 3-5-2011 - News - Press Information Bureau Government of India Ministry of Finance 03-May-2011 16:24 IST 21 FDI Proposals Approved Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on April 20, 2011, Government has approved 21 Proposals of Foreign Direct Investment amounting to ` 1027.20 crore approximately. Following 21 (Twenty one) proposals have been approved . Sl. No. Name of the applicant Particulars of the proposal FDI/NRI inflows (` In crore) CHEMICAL PETROCHEMICALS 1 M/s Titan HMG Paints India Ltd, Coimbatore Ex-post-facto approval for induc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion of foreign investment in SSI unit. 0.62 COMMERCE 2 M/s Jay Shree Tea Industries Ltd., Kolkata Induction of foreign equity by way of issue of QIPs to carry out the business of tea plantation and manufacture of tea, fertilizer and sugar. 60.00 ECONOMIC AFFAIRS 3 M/s Dhanlaxmi Bank Ltd., Kerala Increase in foreign investment from 49 per cent to 74 per cent of the issued and paid up equity share capital in banking sector. 5.50 INFORMATION BROADCASTING 4 M/s Word of God Fellowship, Inc. USA To set up a WOS to undertake to the business of broadcasting -downlinking and distributing to cable operators a non-news and non-c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urrent affairs channel. 1.60 INFORMATION TECHNOLOGY 5 M/s 3DPLM Software Solutions Ltd., Mumbai To issue and allot equity shares as stated in the Scheme of Amalgamation and approved by the Hon ble High Court of Bombay to carry out the business of development of software. No fresh inflow REVENUE 6 M/s Deccan Emerging Business Ventures Pvt. Ltd., Karnataka Ex-post facto approval has been sought for induction of foreign investment to act as investing company. 9.92 ROAD TRANSPORT HIGHWAYS 7 M/s Gayatri Projects Ltd., Andhra Pradesh To issue warrants to carry out the execution of major civil works concrete/ masonry dams, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... earth filling dams, national highways, bridges, canals, aqueducts, ports, etc. 10.00 TELECOMMUNICATIONS 8 M/s People Infocom Pvt. Ltd., Mumbai To issue shares by way of share swap. Nil ECONOMIC AFFAIRS 9 M/s Tikona Digital Networks Pvt. Ltd. To purchase and acquire the entire shareholding of an Investee Company against the payment of consideration on deferred basis. No fresh inflow INDUSTRIAL POLICY PROMOTION 10 M/s Honda Motors India Pvt. Ltd. To set up a vocational training institute for imparting technical and specialized education in the areas related to automobile/supply chain and/ or in related fields by imparti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng appropriate education/skill/ training in related areas through relevant modular programme/courses No inflow DEFENCE PRODUCTION 11 M/s Maini Precision Products Pvt. Ltd., Bangalore To undertake defence related additional activities of manufacture of parts and accessories of aircrafts, spacecrafts. No fresh inflow 12 M/s Punj Lloyd Ltd., Delhi Haryana To undertake additional activities of manufacture, assembly and repair of defence equipment. No fresh inflow ENVIRONMENT FORESTS 13 M/s Cerebra Integrated Technologies Ltd., Bangalore Issue of shares for consideration other than inward remittances. No fresh inflow ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... INFORMATION BROADCASTING 14 M/s Lokmat Media Limited, Mumbai Induction of foreign equity by way of IPO, including issuance and allotment of equity shares to person resident outside India, including FIIs, foreign VCFs, multilateral and bilateral financial institutions and non-resident Indians to carry out the business of publishing of newspapers dealing with news and current affairs. 13.82 15 M/s iFast Financial India Pvt. Ltd., Mumbai To engage in the business of publishing magazine. 15.7 INFORMATION TECHNOLOGY 16 M/s Kale Consultants, Pune Ex-post-facto approval for issue of warrants. The company is engaged in IT sector. 97. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 51 POWER 17 M/s ACB (India) Limited, Delhi Ex-post-facto approval for issue of warrants. The company is engaged in the business of coal washing and electricity generation. 120.16 ROAD TRANSPORT HIGHWAYS 18 M/s Oriental Tollways Pvt. Ltd., Delhi Haryana Induction of foreign equity in an Investing company. 475.00 TELECOMMUNICATIONS 19 M/s Netmagic Solutions Pvt. Ltd., Mumbai To increase foreign equity from 49 per cent to 74 per cent to carry out the business of ISP with gateways. 70.00 20 M/s Augere Wireless Broadband India Pvt. Ltd., Delhi To increase foreign equity from 49 per cent to 74 per cent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to carry out the business of Broadband wireless services, internet services and other telecommunication related services. 54.00 INDUSTRIAL POLICY PROMOTION 21 M/s Darjeeling Organic Tea Estates Pvt. Ltd. Induction of foreign equity and foreign collaborator to carry out the business of production, distribution and export of tea. 93.37 The following 17 (Seventeen) proposals have been deferred : Sl. No Name of the applicant Particulars of the proposal 1 M/s Vivimed Labs Ltd., Bangalore Ex-post-facto approval for issue of warrants to undertake manufacturing of organic chemicals and pharmaceuticals. 2 M/s Park Control ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s Communications Ltd., Bangalore Ex-post-facto approval for induction of foreign investment to carry out the defence related activity. 3 M/s NCBG Holdings, Inc., Cayman Islands Induction of foreign equity in an Indian company to undertake the manufacturing of wiring sets including wiring sets of a kind used in vehicles, aircraft, ships or other machinery used in defence industry. 4 M/s Natixis Global Asset Management, France To invest by way of indirect foreign investment in Pension Fund Subsidiary. 5 M/s G4S Security Services (India) Pvt. Ltd., Delhi Haryana Ex-post-facto approval for induction of foreign equity to carry out the business of providing secur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ity services. 6 M/s Picturehouse Media Ltd. (earlier known as M/s Telephoto Entertainments Ltd.,), Tamil Nadu To issue warrants to undertake the business of film and entertainment industry. 7 M/s Selan Exploration Technology Ltd., Delhi Ex-post-facto approval for issue of warrant to carry out the business of onshore oil and gas production. 8 M/s Cals Refineries Ltd., Delhi Haryana To issue equity shares in the form GDRs against supply of refinery equipment. 9 M/s Goshi India Auto Parts Pvt. Ltd., Delhi Haryana To convert the Suppliers Credit (Machinery Loan) into equity shares to carry out the business of manufacturing and distribution of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... spare parts. 10 M/s Pran Beverages (India) Pvt. Ltd., Kolkata Induction of foreign equity by a company from Bangladesh. 11 M/s Checkmate Services Pvt. Ltd., Gujarat Induction of foreign equity in a company engaged in private security services. 12 M/s Southern CNG Automobiles India Pvt. Ltd., Kolkata Induction of foreign equity in by a company from Bangladesh. 13 M/s Royale Asia Couriers Pvt. Ltd., Chennai Induction of foreign equity to carry out the business of international courier operations. 14 M/s Mango Holding Limited, Bangladesh To subscribe to equity shares of an Indian company engaged in the business of manuf ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... acturing and Supply of Wireless Equipment by a company from Bangladesh. 15 Mr. M. Rezaul Hassan and Ms. Monnujan Nargis, Bangladesh Ex post facto approval to set up a WOS to undertake the business of Software development Services by citizens of Bangladesh. 16 M/s UT Starcom India Telecom Private Limited To undertake additional activity relating to Telecom/I B sector. 17 M/s Soma Tollways Private Limited, Andhra Pradesh Induction of foreign investment in an investing company. The following 9 (Nine) proposals have been rejected: Sl.No Name of the applicant Particulars of the proposal 1 M/s ADM Investor Services I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nternational Ltd., UK Induction of foreign equity in an Indian company to carry on the business of commodity trading. 2 M/s Befesa Infrastructure India Pvt. Ltd., Tamil Nadu Ex-post-facto approval for capitalization of pre-incorporation expenses. 3 M/s Haver Ibau India Pvt. Ltd. Mumbai To issue equity shares against trade payables to carry out the business of manufacturing of packing machines for valve-type or open bags, for loose powdery materials and liquids. 4 M/s Rolling Construction Private Limited, Delhi Haryana Relaxation in capitalization norms. 5 M/s Pruksa-Luxora Housing Pvt. Ltd., Mumbai Relaxation in capitalization norms. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6 M/s Arshiya International Ltd., Mumbai Ex-post-facto approval for issue of warrants to carry out the business of providing logistics solutions, integrated supply chain and logistics infrastructure services. 7 M/s Ybrant Digital Ltd. Ex post facto approval for issue of warrants to carry out the business of Software Development, IT and IT enabled services. 8 M/s Xebia IT Architects India Pvt. Ltd. Ex-post-facto approval for issue of sweat equity shares for consideration other than inward remittances to Director of the company. 9 M/s Telelogic ICT Services Pvt. Ltd. Ex-post-facto approval for issuing equity shares against rent and incorporatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n expenses. The following 01 (One) proposal has been withdrawn from the Agenda. Sl. No Name of the applicant 1 M/s Kemrock Industries and Exports Ltd., Gujarat ****** DSM/BY/GN - 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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