13 FDI proposals approved by FIPB
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Thursday, 24 Sep 2009
Based on the recommendations of Foreign Investment Promotion Board in its meeting held on September 11th 2009, Government has approved 13 Proposals of Foreign Direct Investment amounting to INR 393.62 crore approximately.
Following 13 proposals have been approved
COMMERCE
| Kludirak India Pvt. Ltd, Mumbai | To set up a JV company to undertake wholesale cash & carry trading. The proposal attracts Press Note 1 of 2005. | 1.89 |
| L.Occitane Singapore Pte Ltd | To acquire 51% equity of the Indian company to carry out the single brand retail trading. | Not indicated |
ECONOMIC AFFAIRS
| Ramboll Singapore Pte Ltd, Singapore | Post facto approval for foreign equity participation in respect of fully paid up equity shares by virtue of its acquisition in 2008 to undertake Tower Engineering and tower related services. The proposal attracts Press Note 1 of 2005. | 3.00 |
| InfxQ Knowledge Services Pvt Ltd, Bangalore | Issue of equity shares against the money received as advance towards export of services. | |
| 1.08 |
INFORMATION & BROADCASTING
| S & S Media (India) Enterprises Pvt Ltd, Bangalore | To induct foreign equity participation upto 100% to publish Specialty Magazines. | 0.30 |
SHIPPING
| TM International Logistics Ltd, Kolkata | To issue shares against consideration other than cash. | 40.00 |
ECONOMIC AFFAIRS
| General Motors Acceptance Corporation | To waive off the condition of minimum capitalization norms. | No Fresh Inflow |
INUSTRIAL POLICY & PROMOTION
| Strata Geosystems (I) Pvt Ltd | To (i) regularise foreign inward remittances as well as allotment of shares, (ii) further compounding by RBI to be waived off, and (iii) to allow them to raise the FDI participation up to INR 5 crore, without change in approved percentage. | No Fresh Inflow |
| Sterlite Technologies Ltd | To issue and allot warrants on preferential basis. | 103.95 |
INFORMATION & BROADCASTING
| Dish TV India Ltd | To make an amendment in FC approval letter. | 243.40 |
TELECOMMUNICATIONS
| Sistema Shyam Teleservices Ltd | Ex-Post-facto approval for conversion of operating company into operating cum holding company and making downstream investments. | No Fresh Inflow |
DEFENCE PRODUCTION
| Taneja Aerospace and Aviation Ltd, Tamil Nadu | To regularize the FII investment in the Defence Sector. | No Fresh Inflow |
TELECOMMUNICATIONS
| Devas Multimedia Pvt Ltd, | To induct fresh foreign equity participation with the induction of a new foreign collaborator. | Not Indicated |
