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Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on May 7, 2010, Government has approved 24 Proposals of Foreign Direct Investment amounting to Rs. 1412.19 Crore approximately.
Following 24 (Twenty four) proposals have been approved.
| Sl. No. | Name of the applicant | Particulars of the proposal | FDI/NRI inflows (Rs. In Crore) |
CHEMICAL & PETROCHEMICALS
| 1 | M/s Nifco Inc., Japan | To set up two wholly owned subsidiaries to undertake manufacture of plastic fasteners and allied products. The proposal attracts Para 4.2.2 (and its Sub-paras) of Consolidated FDI Policy 2010. | 28.40 |
COMMERCE
| 2 | M/s Haver Standard India Pvt. Ltd., Mumbai | Ex-post-facto approval for issue of partly paid up equity shares to carry out the manufacture and export of Woven Wire Mesh, Spinneret Disk Filters/Candle Filters, Demister Pad, Mister Screen, Knit mesh Column, packing Pads, Silver Wire cloth, Silver Granules and Silver Knitted Mesh. | 1.73 |
CORPORATE AFFAIRS
| 3 | M/s Networth Stock Broking Ltd., Mumbai | Ex post-facto approval for issuance of warrants to carry out the business of stock broking. | Nil |
HEAVY INDUSTRY
| 4 | M/s Elliott Company USA | To set up a WoS to undertake the business of manufacture of steam engines and turbines,
manufacture of parts and accessories n.e.c. for prime movers, boilers, steam generating plants and nuclear reactors, and pumps, compressors, taps and valves. The proposal attracts Para 4.2.2 (and its Sub-paras) of Consolidated FDI Policy 2010. |
0.07 |
INFORMATION & BROADCASTING
| 5 | M/s Amar Chitra Katha Pvt. Ltd., Mumbai | Induction of Foreign Investment to carry out the business of publishing pictorial magazines and comic books. | 0.09 |
MINES
| 6 | M/s Narsinghpur Gold Mining Pvt. Ltd., Delhi | Induction of foreign equity to undertake the business of mining of precious/semi-precious metal ores. The proposal attracts Para 4.2.2 (and its Sub-paras) of Consolidated FDI Policy 2010. | 4.00 |
POWER
| 7 | M/s Jyoti Structures Ltd., Mumbai | To issue detachable warrants on a right basis to its existing equity shareholder, including NRIs and FIIs. | 125.00 |
| 8 | M/s AIP Power Pvt. Ltd., Delhi | Induction of foreign equity to carry out the business of setting up power plants either directly or indirectly by promotion of Special Purpose Vehicles or joint venture. | 113.00 |
SHIPPING
| 9 | M/s Forbes Bumi Armada Ltd., Mumbai | Ex-post-facto approval for the issue of partly paid up equity shares. | 0.24 |
TELECOMMUNICATION
| 10 | M/s Tejas Networks Ltd., Bangalore | Transfer of shares by way of share swap to undertake the business of R&D in India to build telecom products, designs, develop and sells optical networking equipment to telecommunications operators worldwide. | Nil |
TOURISM
| 11 | M/s Carlson Hotels Asia Pacific Investments Pte. Ltd., Singapore | Induction of foreign equity to carry out the business of operating, licensing, franchising, owning and leasing hotel properties and other related activities. The proposal attracts Para 4.2.2 (and its Sub-paras) of Consolidated FDI Policy 2010. | 0.32 |
| 12 | M/s Jalan Intercontinental Hotels Pvt. Ltd., Kolkata | Ex post-facto approval for issue of partly paid equity shares to carry out the business of construction, development and maintenance of hotels. | 30.00 |
FOOD & PUBLIC DISTRIBUTION (Dte of Vanaspati, Vegetable Oil & Fats)
| 13 | M/s Adani Wilmer Limited | To make downstream investment through internal accrual. | Nil |
INDUSTRIAL POLICY & PROMOTION
| 14 | M/s Bhilwara Energy Limited | To make an amendment in the FC approval. Induction of FDI in investing company. | 240.00 |
| 15 | M/s SG Wealth Management solutions Pvt. Limited | To make an amendment in the FC approval. | Nil |
| 16 | M/s Dipti Publications Pvt. Limited | Transfer of shares from NR to NR to carry out the publishing of speciality periodicals | Nil |
INFORMATION & BROADCASTING
| 17 | M/s Asianet Communications Limited | Induction of foreign equity to undertake the business of broadcasting non-news and current affairs television channels. | 425.00 |
URBAN DEVELOPMENT
| 18 | M/s Isolux Corsan India Engineering & Construction Pvt. Limited | To make an amendment in the FC approval. | Nil |
ECONOMIC AFFAIRS
| 19 | M/s Valuable Media Limited, Mumbai | Ex-post-facto approval for issuance of partly-paid equity shares. | 99.93 |
INDUSTRIAL POLICY & PROMOTION
| 20 | M/s Morgan Stainley Mauritius Company Ltd. | To make an amendment in the FC approval. | Nil |
INFORMATION & BROADCASTING
| 21 | M/s Star India Holding BV | To acquire up to 49% share holding stake in TS Investment Ltd., who in turn will acquire shares of Tata Sky Ltd. | 324.00 |
| 22 | M/s Neo Sports Broadcast Pvt. Limited | To make an amendment in the FC approval. | No Fresh Inflow |
ECONOMIC AFFAIRS
| 23 | M/s Ascendas IT Park (Pune) Private Limited | Ex-post-facto approval for issue of partly paid up equity shares to carry out the development of Special Economic Zone. | 20.41 |
INDUSTRIAL POLICY & PRPMOTION
| 24 | M/s Forum Ventures Private Limited | Payment of money to the foreign investors on buying back shares held by the foreign investors. | No Inflow |
2. The following 16 (Sixteen) proposals have been deferred:
| Sl. No | Name of the applicant | Particulars of the proposal | |
| 1 | M/s Karuturi Global Limited, Bangalore | Ex-post-facto approval for issuance and allotment of warrants to carry out the business of Floriculture & Food processing. | |
| 2 | M/s Mcnally Sayaji Engineering Limited, Kolkata | To issue warrants to undertake the business of Engineering equipment. | |
| 3 | M/s Jagran Media Network Pvt. Ltd., Kanpur | Induction of foreign equity into a company which does not have any operations and also do not have any downstream investments. | |
| 4 | M/s Strawberry Constructions Pvt. Ltd., Mumbai | Condonation of delay in getting the funds to meet the minimum capitalisation norms. | |
| 5 | M/s NTT Communications Corporation | To make an amendment in the FC approval. | |
| 6 | M/s INX Media Pvt. Limited | To make an amendment in the FC approval. | |
| 7 | M/s Quantium Solutions International Pte Limited | To make an amendment in the FC approval. | |
| 8 | M/s Glencore Grain India Pvt. Limited | To make an amendment in the FC approval. | |
| 9 | M/s Transcend Infrastructure Limited | Acquisition of 100% equity to undertake the business of building towers, acquiring towers for securing management rights of towers for the purpose of leasing or licensing the shared use of these towers to communication and broadcasting. | |
| 10 | M/s Hindustan Media Ventures Limited, Patna | Induction of foreign investment from non-residents including FIIs, FVCI and VCF and multilateral and bilateral development financial institutions and other eligible foreign investors including pursuant to a private placement, IPO of equity shares of the Company and/or transfer of equity shares or other securities convertible into equity shares. | |
| 11 | M/s Mid Day Multimedia Limited | To make an amendment in the FC approval. | |
| 12 | M/s Arkadin SAS, France | Acquisition of equity stake up to 60% in the paid up share capital of a company engaged in the telecom sector. | |
| 13 | M/s Essar Capital Holdings (India) Ltd., Mumbai | Acquisition of equity shares by way of subscription to new equity shares and/or purchase of existing equity shares in an investing company engaged in the telecom sector. | |
| 14 | M/s S Tel Private Limited, Gurgaon | To issue/allot fully paid-up fresh equity shares to undertake the business of providing telecommunications services in India. | |
| 15 | M/s Telcordia Technologies Inc. USA | To review the proposal on the request of MHA. | |
| 16 | M/s Telestra Private Limited | Increase in the foreign equity from 49% to 74% in the telecom sector. | |
3. The following 04 (Four) proposals have been rejected:
| Sl. No | Name of the applicant | Particulars of the proposal | |
| 1 | M/s Telelogic ICT Services Pvt. Ltd., Bangalore | Ex-post-facto approval for issuing equity shares against rent and incorporation expenses. | |
| 2 | M/s Coreobjects Software Inc. USA | Transfer of shares by way of share swap to undertake the business of Software Development/ IT enabled services. | |
| 3 | M/s Gremach Infrastructure Equipments & Projects Ltd., Mumbai | Ex-post-facto approval for issue of warrants. | |
| 4 | M/s Jaipur IPL Cricket Pvt Ltd. | To induct 100% foreign equity by way of issue of shares for consideration other than cash. | |
4. The following 01 (One) proposal has been advised to access automatic route:
| Sl. No | Name of the applicant | Particulars of the proposal | FDI/NRI inflows (Rs. In Crore) |
| 1 | M/s Kims Cancer Care and Research Center Pvt. Ltd., Kerala | Induction of foreign equity for setting up of oncology centre to provide comprehensive cancer care and research facilities. | 3.4 |
5. The following 01 (One) proposal has been withdrawn from the Agenda:
| Sl. No. | Name of the applicant | Particulars of the proposal | FDI/NRI inflows (Rs. In Crore) |
| 1 | M/s Tikona Digital Network Private Limited | To enhance the FDI to 74% by issue of Compulsorily Convertible Debentures (CCDs) and equity shares to existing foreign investors and new foreign investors. | 1142.21 |
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