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TMI BlogGovernment Approves Eight (8) Proposals of Foreign Direct Investment Amounting to About Rs. 696.23 CroreX X X X Extracts X X X X X X X X Extracts X X X X ..... Government Approves Eight (8) Proposals of Foreign Direct Investment Amounting to About Rs. 696.23 Crore - News and Press Release Dated:- 31-5-2013 - News - Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 12.04.2013 Following eight (8) proposals have been approved: Sl. No. Name of the applicant Particulars of the p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... roposal FDI/NRI inflows ( Rs. in crore) 1 M/s McKinsey Company Inc. India, USA To set up an LLP to be engaged in providing management consultancy services. 0.99 2 M/s AWS Truepower LLC, USA Induction of foreign equity to carry out the business of consultancy services. 0.24 3 M/s NSE Industries, France ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Induction of foreign equity to undertake the business of manufacture and servicing of products having defence applications. 0.10 4 M/s Pilot Ventures Media Pvt. Ltd., New Delhi Induction of 100% foreign equity to carry out the business of publishing, marketing and distributing NME music Magazine and NME website in India. 0.01 5 M/s GETIT Infoservic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es Private Limited To increase foreign equity percentage by way of acquisition/fresh issue of shares to carry out the business of specially publishing. 216.00 6 M/s ACME Solar Energy Pvt. Ltd. Haryana To make downstream investment in a company engaged in solar power business. 275.00 7 M/s GeoPost S.A., France Acquisition of shares of an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Indian company engaged in the business of commercial express and parcel delivery business segment. 179.04 8 M/s DPD Continental Ltd. Increase in foreign equity participation from 60% to 100% to carry out the business of Courier services other than post. 24.85 The following eight (8) proposals have been deferred: Sl. No Name of the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pplicant Particulars of the proposal 1 M/s Sutures (I) Pvt. Ltd. Increase of foreign equity in an existing pharma sector company. 2 M/s Calyx Chemicals Pharmaceuticals Ltd. To issue IPO to investors including foreign investors to carry out the business of pharmaceutical sector. 3 M/s Total Prosthetics Onthotics India Pvt. Ltd ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Haryana Transfer of shares by way of share swap. 4 M/s BF Elbit Advanced Systems Pvt. Ltd., Pune To set up a new JV company to be engaged in design, development, manufacturing of defence related products. 5 M/s Telenor Mobile Communication AS, Norway To increase foreign equity from 49% to 74% in telecom sector. 6 M/s Tikona Digita ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l Network Pvt. Ltd To increase foreign equity participation in telecom sector. 7 M/s Axiom Consulting Pvt. Ltd. To issue shares to the foreign national as per a pre-agreed price. 8 M/s Veritas (India) Limited Post facto approval has been sought for the issue of warrants. The company is engaged in the business of import, export, trading and distribu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion of metals and chemical products, power generation. The following three (3) proposals have been rejected: Sl. No Name of the applicant Particulars of the proposal 1 M/s Sunil Hitech Engineers Ltd., Nagpur To issue warrants to FIIs to carry out the business of execution of projects in the power and infrastructure sector. 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... M/s Triton Hotels and Resorts Pvt. Ltd. Mumbai Post facto approval for issuance of partly paid up shares. The company is engaged in the business of Hospitality Services. 3 M/s Karuturi Global Ltd., Bangalore Post facto approval has been sought for the issue of warrants to carry out the business of Floriculture Food processing under controlled conditions. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The following one (1) proposal has been recommended to advise the applicant that the proposal is not within the purview of FIPB: Sl. No. Name of the applicant Particulars of the proposal 1 M/s Tata Advanced Materials Limited, Bangalore Indian company engaged in manufacturing of defence related products has sought post facto approval for share ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s already held by NRI in the company on portfolio basis. Decision in the following two (2) proposals will be communicated separately: Sl. No. Name of the applicant Particulars of the proposal FDI/NRI inflows (Rs. in crore) 1 M/s Bay Capital Investment Ltd, Mauritius Acquisition of shares in a listed Indian Company which is the Core In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vestment Company of a leading infrastructure developing group of companies. 100.00 2 M/s Hubert Burda Media India Pvt. Ltd WoS of a foreign company to act as an operating cum investing company and to make downstream investment in an Indian company engaged in printing and publishing of magazines. 7.00 DSM/RS/ka (Release ID :96334) - News - P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ress 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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