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Ministry of Finance04-December, 2012 17:50 IST
FDI Proposal Worth Rs. 27 Crore Cleared

 

            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:

                                                                                                                                                                                   

Sl. No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows

(Rs.in crore)

ECONOMIC AFFAIRS

1

M/s Bhartiya Samruddhi Investments and Consulting Servcies Ltd., New Delhi

Induction of foreign equity in the investing company.

 

27.72

 

2.         The following 6 (Six) proposals have been deferred:

 

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Soma Tollways Pvt. Ltd.

Post facto approval for increase in foreign equity in the investing company.

2

M/s Brampton Pvt. Ltd.

Clarification regarding limit on percentage of shareholding to be held either by Indian partner or foreign partner for forming the joint venture company.

 

3

M/s Wire and Wireless (I) Limited

To issue warrants to carry out the business of Cable Network Business.

4

M/s Multi Screen Media Pvt. Ltd.

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.

5

M/s Erica Healthcare Pvt. Ltd., Mumbai

Increase in foreign equity engaged in the pharmaceutical sector.

6

M/s M and C Rakindo Hospitality Pvt. Ltd., Coimbatore

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.

 

3.         The following 7 (Seven) proposals have been rejected:

 

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Mack Valves India Private Limited, Chennai

Past facto approval for capitalization of expenses to carry out the business of manufacturing of control valves and accessories for water industry.

2

M/s Applied Micro Circuits India Pvt. Ltd., Pune

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.

3

M/s Deutsche Investments India Private Limited, Mumbai

Proprietary trading as a part of its existing NBFC activities.

4

M/s G4S Secure Solutions (India) Pvt. Ltd., Delhi & Haryana

Ex-post-facto approval for induction of foreign equity to carry out the business of providing security services.

5

M/s Acebright (India) Pharma Pvt. Ltd., Karnataka

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.

6

M/s Augere Wireless Broadband India Pvt. Ltd.

Post facto approval for capitalisation of the expenses to carry out the business of Broadband wireless services, internet services and other telecommunication   related services.

7

M/s Tocheunglee Stationery Manufacturing Company Pvt. Ltd., Tiruvallur

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.

 

* * * * *

DSM/RS


(Release ID :89919)

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