9911796707
TMI BlogGovernment Approves Seven (7) Proposals of Foreign Direct Investment (FDI)X X X X Extracts X X X X X X X X Extracts X X X X ..... Government Approves Seven (7) Proposals of Foreign Direct Investment (FDI) - News and Press Release Dated:- 24-8-2016 - News - Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 238th Meeting held on 3rd August 2016, the Central Government has approved seven (07) FDI proposals as per details enclosed. S. No Item No Name of the applicant Gist of the proposal Sector FDI (Rs. crore) 1 2 M/s IMCD India Pvt. Ltd Post facto approval for issuing 42,13,814 equity shares of ₹ 10 fully paid up at a premium of ₹ 140 per share to IMCD ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Finance BV as consideration for transfer of IMCD Group BVs Indian branch into IMCD India pursuant to a court approved scheme of demerger. The fair value of the share has been determined to be ₹ 14.04 per share. Wholesale Trading Nil 2 3 M/s Fincare Business Services Private Limited Approval has been sought for amendment in the Clause 2, 5 and 6 of the approval letter dated 08.05.2015 Investing company/ Small Finance Bank Nil 3 6 Haymarket SAC Publishing (India) Private Limited Haymarket SAC Publishing (India) Private Limited has sought an app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... roval for the take over the publication of the specialty magazine Print Week from Haymarket Media (India) Private Limited, its sister concern Publication Nil 4 7 M/s Laurus Labs Private Limited Approval for downstream investment into Sriam Labs Private Limited ( Sriam Labs ) by purchase of 10,368,455 equity shares of ₹ 10 each representing 73% of fully paid-up equity share capital of Sriam Labs from the existing shareholders for a total consideration of an amount of ₹ 22.99 crores, thereby Sriam Labs will become 100% wholly owned subsidiary of Laurus Labs Pharma 22.99 5 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 11 M/s Reckitt Benckiser (India) Limited. M/s Reckitt Benckiser (India) Limited, a WOS of the Reckitt group, proposes to acquire 25.028% paid up share capital of M/s Reckitt Benckiser Healthcare India Limited from its current foreign investor viz. M/s Reckitt Benckiser (Singapore) Pte. Ltd., Singapore Pharma Nil (outflow of ₹ 812 crore approx.) 6 13 Samara Capital Partners Fund II Limited Approval has been sought for the purchase of 100% of the shareholding of Adcock Ingram Healthcare Private Limited from Adcock Ingram Healthcare (Pty) Ltd and Adcock Ingram International (Pty) Ltd Pharm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a Nil 7 16 M/s Tikona Digital Networks Pvt Ltd Approval has been sought for the issuance of CCDs thereby increasing foreign equity to 76.73% Telecom 267.00 The following seven (07) proposals have been deferred: S. No. Item No Name of the applicant Gist of the proposal Sector 1 5 M/s Celon Laboratories Limited Approval has been sought for amendment in the following conditions in the FIPB approval letter dated August 3, 2015 and FIPB approval let ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ter dated October 16, 2015. Pharma 2 9 The Financial Times (India) Private Limited (i) Transfer of 99.99% of The Financial Times (India) Private Limited, to Falstaff Singapore Pte Ltd, currently held by Pearson, Singapore for an aggregate consideration of SGD 1 (ii) Transfer of 1 share of The Financial Times (India) Private Limited to Falstaff Singapore Pte Ltd, currently held by Pearson, Amsterdam (iii) Transfer of entire shareholding of Falstaff Singapore Pte Ltd to Nikkei Inc, currently held by Pearson, Amsterdam Publishing 3 10 M/s HSBC Securities and Capital Markets (India) Pvt Ltd ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Approval has been sought for: - I. Merger of the FIPB approval letter no. FC-II 229(1994)/300(1994) dated 13.05.1994 (read along with 18 amendments) and approval letter no. FC-II 160(2005)/157(2005) dated 21.06.2005. II. Incorporating a Wholly Owned Subsidiary which will act as a trustee company to HSBC Mutual Fund. III. HSBC InvestDirect Financial Services(India) Limited[WoS of HSBC Invest Direct (India) Ltd] to engage into additional activities Financial Services 4 14 Quintillion Business Media Private Limited Approval has been sought for the issuance of equity shares to BLOOMBERG L.P. The investee company is proposed to be engage ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d inter alia in the uplinking and broadcasting of a business news television channel and operating related digital content platform in India. Up-linking of Non-News 5 15 M/s Morgan Stanley India Primary Dealer Private Ltd Approval for increasing equity participation from 75% to 100% by way of transfer of equity shares from M/s Morgan Stanley India Capital Private Limited (indirectly owned by Foreign Investor) to M/s Morgan Stanley Mauritius Company Limited, Mauritius by amending the earlier approval. Financial Services 6 18 M/s Idea Cellular Infrastructure Services Limited The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... applicant i.e. M/s Idea Cellular Infrastructure Services Limited (ICISL) is a wholly owned subsidiary of IDEA, which has become a foreign owned company with more that 50% foreign investment. Accordingly, ICISL is also deemed to have foreign investment in excess of 50% as a mirror image of its parent company. The proposal is to take on record the increase of foreign investment in ICISL beyond 50% and allow foreign investment in ICISL up to 67.5%. Telecom 7 19 M/s BT Global Communications (Mauritius) Limited Approval to acquire remaining 26% equity and preference share capital of M/s BT Telecom India Private Limited (Investee Company) from M/s Jubilant Stock H ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... olding Private Limited, which will result in increasing its shareholding in the investee company from 74% to 100%. Telecom The following five (05) proposals have been rejected: S. No Item No Name of the applicant Gist of the proposal Sector 1 1 M/s EXFO Asia Pacific Pte. Limited Approval for investment in a Limited Liability Partnership, for carrying out wholesale trading operations. LLP 2 4 M/s Sanofi-Synthelabo (India) Pvt. Ltd. Approval sought by a foreign owned I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndian pharmaceutical company, for the merger of two other foreign owned Indian pharmaceutical companies into itself. Pharma 3 8 M/s Baxter (India) Private Limited Approval has been sought for deletion of Pharma related conditions from the FIPB approval dated 10.09.2014. The said approval was about conversion of ECBs into equity shares and fresh FDI against issue of equity shares to a non-resident Group company. Pharma 4 12 M/s Oxigen Services Pvt Ltd Approval has been sought for removal of clause no. 4,5,7,10 11 of FIPB Approval No FC.10(2012)/168(2011), because the activi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty of the company is 100% under Automatic Route. Therefore the terms and conditions mentioned under aforesaid clauses are not applicable on the company. Financial Services 5 17 M/s Crown Cement Manufacturing India Private Limited Approval for foreign investment from M.I. Cement, Bangladesh. The company is offering a private placement of 1,55,10,000 shares of its common stock to M.I. Cement, Bangladesh subject to FIPB approval Manufac-turing - 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
|
