Foreign Direct Investment approvals confirming equity inductions and operating cum holding conversions, with referrals for post facto regularisation and PAB review.
Thirteen FDI proposals were approved by the Foreign Investment Promotion Board covering equity inductions, conversions to operating cum holding companies to permit downstream investments, and sector specific undertakings in manufacturing, heavy industry, telecommunications, information and broadcasting, commerce, industrial policy, information technology and urban development. Several approvals note percentage foreign equity limits and reference Press Note 1 (2005 series). One proposal was deferred and one rejected; three applicants were advised to seek RBI post facto regularisation for past FDI policy violations; three proposals were remitted to the Project Approval Board for fee/royalty issues beyond automatic limits; one activity was advised to be treated under the automatic route.