July 4, 2008
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Foreign direct investment approvals authorise varied equity inflows and company status changes while several proposals remain deferred.
Approval of 28 foreign investment proposals across multiple sectors authorizes varied modes of inward investment including equity introductions, majority and minority stakes, establishment of wholly owned subsidiaries, conversions to holding cum operating companies, downstream investments, share transfers and issuance of compulsorily convertible instruments; several approvals invoke compliance with applicable Press Notes, some note no fresh foreign exchange inflow due to internal restructurings, one proposal advised to access the automatic route, and 11 proposals were deferred for further consideration.