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        News and Press Release

        Proposals Considered in the Foreign Investment Promotion Board (Meeting Held on 09.12.2013)

        December 31, 2013

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        Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 09.12.2013

        Following 04 (Four) proposals have been approved.

        Sl. No.

        Name of the applicant

        Particulars of the proposal

        FDI/NRI inflows

        (Rs. in crore)

        1

         

        M/s HBO India Pvt. Ltd., New Delhi

        Company having foreign investment proposes to engage in the activities of down-linking non-news and current affairs television channels.

        Nil

        2

        M/s Air Works India (Engineering) Pvt. Ltd., Mumbai

        To make downstream investments by utilizing its internal accruals into a new company for providing Aircraft Management services and Air Charter services to its customers.

        2.00

        3

        M/s Mahle Holding India Pvt. Ltd.

        Investing company to infuse more investment from its existing foreign investors.

        500.00

        4

        M/s Malca Amit Global Limited, Hong Kong

        Merger of two Indian companies in the logistics sector, as per the scheme of merger approved by the Hon’ble High Court.

        Nil

        The following 02 (Two) proposals have been deferred:

        Sl. No

        Name of the applicant

        Particulars of the proposal

        1

        M/s CGP India Investments Ltd.

        An indirect subsidiary of the Vodafone Group to increase foreign equity in M/s Vodafone India Limited from 64.38% to 100% in telecom sector.

        2

        M/s VTI Integrated Systems Pvt. Ltd., Bangalore

        Induction of foreign equity upto 26% to carry out the business of manufacturing Automated Test Equipment and integration solutions and services to the aerospace industries. The company will be seeking an industrial license as the component and part of electronic aerospace and defence equipment.

        Decision in the following 1 (One) proposal has been kept in abeyance:

        Sl. No.

        Name of the applicant

        Particulars of the proposal

        1

        M/s Indian Rotocraft Pvt. Ltd.

        Review on the request of MoD of the amendment to the earlier FIPB approval to incorporate the helicopter model as AW 119Kx, the upgraded model, in place of AW 119Ke, the discontinued model.

        The following 2 (Two) proposals have been withdrawn by the applicant:  

         

        S. No

        Name of the applicant

         

        1

        M/s Jubilant Aeronatics Pvt. Ltd.

        2

        M/s Buzil-Werk Wagner GMBH 7 Co. KG, Germany, Edward Walter Menezes, Mumbai

           

         The following 1 (One) proposal has been withdrawn from the agenda:     

        S. No

        Name of the applicant

        1

        M/s Brightstar Infrastructure Pvt. Ltd., Mumbai

        The following 1 (One) proposal has been noted:       

        Sl. No.

        Name of the applicant

        Particulars of the proposal

        1

        M/s CMS Info System Pvt. Ltd.

        An Information Technology Company has reported downstream investment in a Company which is engaged in the activities of cash management and logistics services.

        Foreign investment approvals, deferrals, abeyance and withdrawals recorded; approvals span broadcasting, aviation investment, holding company infusion and logistics merger. Four foreign investment proposals were approved, covering down linking of non news television channels, downstream investment for aircraft management and charter services, infusion of additional foreign investment into a holding company, and a court approved merger in the logistics sector. Two proposals were deferred: a proposal to increase foreign equity to full ownership in a telecom operator and an application to admit minority foreign equity in an aerospace related automated test equipment manufacturer. One proposal was kept in abeyance for defence ministry review of a helicopter model substitution; withdrawals and a noted downstream investment report were also recorded.
                          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 investment approvals, deferrals, abeyance and withdrawals recorded; approvals span broadcasting, aviation investment, holding company infusion and logistics merger.

                                Four foreign investment proposals were approved, covering down linking of non news television channels, downstream investment for aircraft management and charter services, infusion of additional foreign investment into a holding company, and a court approved merger in the logistics sector. Two proposals were deferred: a proposal to increase foreign equity to full ownership in a telecom operator and an application to admit minority foreign equity in an aerospace related automated test equipment manufacturer. One proposal was kept in abeyance for defence ministry review of a helicopter model substitution; withdrawals and a noted downstream investment report were also recorded.





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                                ActsIncome Tax
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