Press Note By FDI :Tuesday, October 29, 2013
Government Approves Thirteen Proposals of Foreign Direct Investment (FDI) Amounting to About Rs. 1258.53 Crore
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on September 19, 2013, Government has approved thirteen (13) proposals of Foreign Direct Investment (FDI) amounting to Rs. 1258.53 crore approximately.
In addition, one proposal viz., M/s Axis Bank Ltd. Ahmedabad, amounting to Rs. 6265.76 crore has been recommended for consideration of Cabinet Committee on Economic Affairs (CCEA).
Details of proposals in the Foreign Investment Promotion Board (FIPB) Meeting held on 19.9.2013.
Following thirteen (13) proposals have been approved:
In addition, one proposal viz., M/s Axis Bank Ltd. Ahmedabad, amounting to Rs. 6265.76 crore has been recommended for consideration of Cabinet Committee on Economic Affairs (CCEA).
Details of proposals in the Foreign Investment Promotion Board (FIPB) Meeting held on 19.9.2013.
Following thirteen (13) proposals have been approved:
Sl. No.
|
Name of theapplicant
|
Particulars of the proposal
|
FDI/NRI inflows
(Rs. in crore)
|
1
|
M/s IndianRotocraft Pvt. Ltd.
|
Amendment in the approved activities of the previous FC approval letter to replace the helicopter model as AW 119Kx, the upgraded model, in place of AW 119Ke, the discontinued model.
|
Nil
|
2
|
M/s BF ElbitAdvanced Systems Pvt. Ltd., Pune
|
Induction of foreign equity in defence sector.
|
37.44
(US $ 6 million)
|
3
|
M/s Camson Bio Technologies Ltd., Karnataka
|
Issue of warrants to a foreign collaborator in the business of agricultural biotechnology.
|
32.18
|
4
|
M/s SD Bio Standard DignosticsLtd
|
Infusion of additional FDI in an existing foreign owned pharma company.
|
27.5
|
5
|
M/s ShanthaBiotechnics Pvt. Ltd.
|
An existing foreign investor in a brownfield pharma company to buy out the shares held by NRIs and Indian residents and to infuse fresh equity investment.
|
755.00
|
6
|
M/s EmpaysPayment System India Pvt. Ltd., Mumbai
|
To set-up a Multi- Bank Payment System using the Instant Mobile Transfer System (IMT).
|
27.50
|
7
|
M/s EquitasHoldings Pvt. Ltd.
|
A holding-cum-investment company in microfinance sector to increase FDI by issuance of equity shares and new foreign investors.
|
222.80
|
8
|
M/s Jaguar-Max Security Solutions Pvt. Ltd., New Delhi
|
Induction of foreign investment to carry out the business of Private Security Services company.
|
0.11
|
9
|
M/s Stork Titanium Pvt. Ltd., New Delhi
|
Induction of foreign investment to carry out the business of manufacturing, trading and dealing in titanium products.
|
156.00
(US $ 25 Million)
|
10
|
M/s StyrolutionSouth East Asia Pte. Ltd., Singapore
|
NR to NR transfer of shares within a group company by way of a block deal on the special trading window of BSE Ltd., /NSE Limited.
|
Nil
|
11
|
M/s HCL Technologies Ltd., New Delhi
|
Induction of direct foreign investment in its own total paid-up equity share capital and consequent indirect foreign investment in its wholly owned subsidiary.
|
Nil
|
12
|
M/s Cable & Wireless Pvt. Ltd.
|
Overseas group restructuring in telecom Sector Company without change in approved FDI/cap/investor.
|
Nil
|
13
|
M/s Multi Screen Media Pvt. Ltd.
|
To increase the foreign equity participation for production of television programmes in Indian anddownlinking certain TV channels.
|
Nil
|
The following eight (8) proposals have been recommended to be deferred:
Sl. No
|
Name of the applicant
|
Particulars of the proposal
|
1
|
M/s SasMos Het Technologies Ltd., Bangalore
|
Post facto approval to undertake manufacturing of electronic warfare subsystems, parts and accessories for airborne ground and naval application etc.
|
2
|
M/s Jubilant AeronaticsPvt. Ltd.
|
Amendment in the approved activities of the approval letter in defence sector.
|
3
|
M/s Kinedex Healthcare Pvt. Ltd., Jaipur
|
Post facto approval for induction of foreign equity in the existing Indian pharma company.
|
4
|
M/s Laurus Labs Pvt. Ltd., Hyderabad
|
Downstream investment in an Indian pharmaceutical company by way of subscription to fresh allotment of equity shares.
|
5
|
M/s Soma Tollways Pvt. Ltd.
|
Post facto approval for increase in foreign equity in an investing company.
|
6
|
M/s M.D. Shajahan Bablu, Bangladesh
|
Bangladesh nationals to incorporate a company in India with 100% FDI to engage in trading of Raw Jute and Jute Products and Agro based products.
|
7
|
M/s Green Destinations Holdings, Mauritius
|
NR to NR transfer of shares before the expiry of lock-in period.
|
8
|
M/s Monsoon Capital LLC, USA
|
To make FDI investments directly or indirectly in an Indian Trust.
|
The following two (2) proposals have been recommended for rejection:
Sl. No
|
Name of the applicant
|
Particulars of the proposal
|
1
|
M/s SundaramRamaswamy, Gurgaon
|
Conversion of an existing Indian Company into a LLP and additional FDI infusion.
|
2
|
M/s SQS India InfosystemsPvt. Ltd., Pune
|
Post-facto approval for swap of shares to carry out the business of Software Testing Services.
|
The following one (1) proposals have been advised to access automatic route.
SlNo
|
Name of the applicant
|
Particulars of the proposal
|
1
|
M/s OctaniaAerostructure Group Pvt. Ltd., New Delhi
|
To issue equity shares to a foreign investor in lieu of technology transfer/knowhow to set up an aerospace machining and treatments company.
|
The following one (1) proposal has been advised that FIPB approval is not required:
Sl. No
|
Name of the applicant
|
Particulars of the proposal
|
1
|
M/s Advanta Pvt. Ltd.
|
Post-facto approval for induction of foreign investment into the company to carry out the business of Research, Production and marketing of hybrid seeds.
|
The following one (1) proposal has been recommended to advise the applicant that the proposal is not within the purview of FIPB:
Sl. No
|
Name of the applicant
|
Particulars of the proposal
|
1
|
M/s ArturaPharmaceuticals Pvt. Ltd., Tamil Nadu
|
Post-facto approval for delay of 6 months and 2 days in receiving part of the consideration for the issue of equity shares in an existing pharma company.
|
Decisions in the following five (5) proposals have been kept in abeyance
Sl. No
|
Name of the applicant
|
Particulars of the proposal
| |
1
|
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.
| |
2
|
M/s Acebright (India)Pharma Pvt. Ltd., Karnataka
|
A foreign owned Indian pharma company to receive additional foreign investment by way of fresh issue and transfer. Post-facto approval is also sought for an earlier transfer.
| |
3
|
M/s Manipal Technologies Ltd., Karnataka
|
Induction of foreign investment in order to invest in the subsidiary to enter into cards payment system management and processing services for all kinds of alternate delivery channels including ATM.
| |
4
|
M/s AU Housing Finance Limited, Jaipur
|
An Indian Housing Finance Company proposes to increase direct and indirect foreign investment upto 95%, without meeting the minimum capitalization norm of USD 50 million.
| |
5
|
M/s AerriantaInternational CPT, Ireland
|
To set up a 50:50 JV company to engage in running duty free shops at Mumbai airport.
| |
The following one (1) proposal has been recommended for the consideration of CCEA, as the investment involved in the proposal is above Rs. 1200 crore.
1
|
M/s Axis Bank Limited,Ahmedabad
|
A private bank proposes to increase the foreign equity from the existing 49% to 62%.
|
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