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English Release 19-May 2013
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Ministry of Finance04-December, 2012 17:50 IST
FDI Proposal Worth Rs. 27 Crore Cleared
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The Government has approved one proposal of
Foreign Direct
Investment amounting to
Rs. 27.72 crore approximately. The Foreign Investment
Promotion Board (FIPB) approved it while considering the 14 pending proposals decision on which was deferred at its earlier
meeting.
The details are as under:
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Sl.
No.
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Name of the applicant
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Particulars of the proposal
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FDI/NRI
inflows
(Rs.in crore)
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ECONOMIC AFFAIRS
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1
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M/s Bhartiya Samruddhi
Investments and Consulting Servcies Ltd., New Delhi
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Induction of foreign equity in the investing
company.
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27.72
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2. The following 6 (Six) proposals have been deferred:
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Sl.
No
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Name of the applicant
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Particulars of the proposal
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1
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M/s Soma Tollways Pvt. Ltd.
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Post facto approval for increase in foreign
equity in the investing company.
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2
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M/s Brampton Pvt. Ltd.
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Clarification regarding limit on percentage of
shareholding to be held either by Indian partner or foreign partner for
forming the joint venture company.
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3
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M/s Wire and Wireless (I) Limited
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To issue warrants to
carry out the business of Cable Network Business.
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4
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M/s Multi Screen Media Pvt. Ltd.
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Induction of foreign equity to carry out the
business of production of television programmes in India languages primarily
for export, sale and distribution of Indian language audio visual production.
Downlink certain TV channels.
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5
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M/s Erica Healthcare Pvt. Ltd., Mumbai
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Increase in foreign equity engaged in the
pharmaceutical sector.
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6
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M/s M and C Rakindo Hospitality Pvt. Ltd.,
Coimbatore
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Ex-post-facto approval to issue and allot
partly paid up shares to carry out the business of development, construction
ownership, management, sale and/ or lease of hotel projects in India.
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3. The following 7 (Seven) proposals have been
rejected:
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Sl. No
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Name of the applicant
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Particulars of the proposal
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1
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M/s Mack Valves India Private Limited, Chennai
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Past facto approval for capitalization of
expenses to carry out the business of manufacturing of control valves and
accessories for water industry.
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2
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M/s Applied Micro Circuits India Pvt. Ltd., Pune
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Post facto approval against funds arranged
by for the purchase of capital goods and security deposit for office premises
for carrying on the business of development of computer software, electronic
systems, networking systems and providing advice, consultation and software
technology solutions.
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3
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M/s Deutsche Investments India Private Limited, Mumbai
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Proprietary trading as a part of its
existing NBFC activities.
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4
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M/s G4S Secure Solutions (India) Pvt. Ltd., Delhi & Haryana
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Ex-post-facto approval for induction of
foreign equity to carry out the business of providing security services.
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5
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M/s Acebright (India) Pharma
Pvt. Ltd., Karnataka
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Post facto approval for issuance of equity
shares and approval for issue of further shares to carry out the business of
manufacturing of pharmaceutical ingredients.
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6
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M/s Augere Wireless Broadband India Pvt.
Ltd.
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Post facto approval for capitalisation of
the expenses to carry out the business of Broadband wireless services,
internet services and other telecommunication related services.
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7
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M/s Tocheunglee Stationery Manufacturing
Company Pvt. Ltd., Tiruvallur
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Induction of foreign investment in an LLP to
carry out the business of manufacturing of Nickel Plating/ Phospating Treatment/ Metal Finishing/ other related
plating process for the components related to manufacture of Lever Arch
Mechanisms, Loose Leaf Ring Metal/Metal Binders, etc.
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DSM/RS
(Release ID :89919)
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