Just a moment...

Top
Help
×

By creating an account you can:

Logo TaxTMI
>
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters0/2000
Make Most of Text Search
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 News - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ----
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ----
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ----
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
RelevanceDefaultDate
    No Records Found
    ❯❯
    MaximizeMaximizeMaximize
    0 / 200
    Expand Note
    Add to Folder

    No Folders have been created

      +

      Are you sure you want to delete "My most important" ?

      NOTE:

      News
      Showing Results for :
      Reset Filters
      Results Found:
      AI TextQuick Glance by AIHeadnote
      Show All SummariesHide All Summaries
      No Records Found

      News

      Back

      All News

      Showing Results for :
      Reset Filters
      Showing
      Records
      ExpandCollapse
        No Records Found

        News

        Back

        All News

        Showing Results for : Reset Filters
        Case ID :
        Corp. Laws, SEBI & IBC

        Government Approves Thirteen Proposals of Foreign Direct Investment (FDI) Amounting to About Rs. 1258.53 Crore

        October 29, 2013

        📋
        Contents
        Note

        Note

        -

        Bookmark

        print

        Print

        Login to TaxTMI
        Verification Pending

        The Email Id has not been verified. Click on the link we have sent on

        Didn't receive the mail? Resend Mail

        Don't have an account? Register Here

        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:

        Sl. No.

        Name of the applicant

        Particulars of the proposal

        FDI/NRI inflows

        (Rs. in crore)

        1

        M/s Indian Rotocraft 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 Elbit Advanced 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 Dignostics Ltd

        Infusion of additional FDI in an existing foreign owned pharma company.

        27.5

        5

        M/s Shantha Biotechnics 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 Empays Payment 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 Equitas Holdings 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 Styrolution South 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 and downlinking   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 Aeronatics Pvt. 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 Sundaram Ramaswamy, Gurgaon

        Conversion of an existing Indian Company into a LLP and additional FDI infusion.

        2

        M/s SQS India Infosystems Pvt. 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 Octania Aerostructure 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 Artura Pharmaceuticals 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 Aerrianta International 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%.

        6265.76

        Foreign direct investment approvals advance multiple projects, with a major bank equity increase referred to a higher economic committee. Government approved thirteen FDI proposals totaling about Rs. 1258.53 crore, authorising foreign equity induction, share transfers, warrants issuance and overseas restructuring across sectors including defence, pharma, microfinance, payments and media. One large banking proposal increasing foreign equity was referred to the Cabinet Committee on Economic Affairs. Additionally, eight proposals were deferred, two rejected, one advised for the automatic route, one found not to require FIPB approval, one outside FIPB's purview, and five were kept in abeyance pending regulatory or structural clarifications.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Foreign direct investment approvals advance multiple projects, with a major bank equity increase referred to a higher economic committee.

                                Government approved thirteen FDI proposals totaling about Rs. 1258.53 crore, authorising foreign equity induction, share transfers, warrants issuance and overseas restructuring across sectors including defence, pharma, microfinance, payments and media. One large banking proposal increasing foreign equity was referred to the Cabinet Committee on Economic Affairs. Additionally, eight proposals were deferred, two rejected, one advised for the automatic route, one found not to require FIPB approval, one outside FIPB's purview, and five were kept in abeyance pending regulatory or structural clarifications.





                                Note: It is a system-generated summary and is for quick reference only.

                                Topics

                                ActsIncome Tax
                                No Records Found