Further to para 9 of the Press Release dated August 6, 2013, wherein it was stated that decision on the six (6) proposals will be communicated separately, the Central Government has approved three (3) proposals of Foreign Direct Investment (FDI) amounting to Rs. 38.09 crore approximately.
Following three (3) proposals have been approved:
Sl. No. | Name of the applicant | Particulars of the proposal | FDI/NRI inflows (Rs. in crore) |
1 | M/s Migatronic India Private Limited, Chennai | Post-Facto approval for setting-up a WoS foreign owned welding equipment company. | 2.00 (already brought in) |
2 | M/s Franklin Templeton Asset Management (India) Pvt. Ltd., Mumbai | A WoS foreign owned Asset Management Company to act as an investment manager to various AIFs and to contribute the mandatory amounts specified under the SEBI (AIF) Regulations. | Nil |
3 | M/s Equitas Holdings Pvt. Ltd. | Increase in FDI percentage in an investing company by way of transfer of shares from Resident to Non-resident shareholders. | 36.09 |
The following two (2) proposals have been deferred:
Sl. No | Name of the applicant | Particulars of the proposal |
1 | Castleton Investment Ltd., Mauritius; M/s GlaxoSmithKline Pte Ltd., Singapore | NR to NR transfer of shares between the foreign promoter group companies of an Indian pharma company. |
2 | M/s Eurecat India Catalyst Services Pvt. Ltd., Gujarat | Capitalisation of payments made by foreign collaborator for securing lease of plot of land for its subsidiary in India in a company engaged in the business of catalysts used in oil and petrochemical plants. |
The following one (01) proposal was withdrawn by the applicant:
Sl. No | Name of the applicant | Particulars of the proposal |
1 | M/s IL&FS Securities Services Ltd. | Merger of two Indian companies with the approval of Hon’ble High Court Mumbai. The companies have some FDI and amongst the activities are those not included in the FDI policy. |
Foreign direct investment approvals permit certain inbound investments while other proposals were deferred or withdrawn. Central Government actions on foreign direct investment proposals approved three applications including post facto approval for a wholly owned foreign subsidiary, approval for a foreign owned asset management company to act as investment manager to AIFs and meet SEBI(AIF) contribution requirements, and approval for increased non resident shareholding via resident to non resident share transfer; two proposals were deferred (NR to NR promoter share transfer and capitalisation of collaborator payments for land lease) and one merger proposal was withdrawn by the applicant.
TaxTMI 
• Category-wise results to explore all relevant documents on TaxTMI
Help Us Improve - by giving the rating with each AI Result:
TaxTMI 
TaxTMI 
