Further to Para 6 of the Press Release dated May 20, 2014,wherein it was stated that five (5) proposals had been deferred, the Government has approved four (4) proposal involving Foreign Direct Investment of Rs. 60.97 crore approximately.
The following four (4) proposals have been approved:
Sl. No. | Name of the Company | Gist of the Proposal | Proposed FDI inflow (In ` Crore) | Sector |
1 | M/s Amri India Private Limited | M/s Amri India Private Limited, Mumbai is seeking approval for fresh investment of US$ 10 million from its parent company M/s Albany Molecular Research Mauritius Pvt Ltd., Mauritius; acquisition of entire shares in Finekem Laboratories Private Limited by M/s Amri India Private limited and post-facto approval for investment made and pending by M/s Albany Molecular Research Mauritius Pvt Ltd., Mauritius | 59.95 | Pharma |
2 | M/s Financial Software and Systems (P) Limited | M/s Financial Software and Systems Private Limited, an Indian financial software transaction processing solutions company, having 43.56% FDI proposes to engage in theadditional activity of setting up, owning and operating White Label ATMs. | Nil | NBFC |
3 | M/s Life Positive Limited | Inclusion of additional activities in the FIPB approval granted to M/s Life Positive Private Limited, engaged in publishing of magazine. | Nil | I&B |
4 | M/s Brunswick India Limited | Approval has been sought by M/s Brunswick India Limited for making 99.99% investment in the capital of a Limited Liability Partnership proposed to be incorporated in India. | 1.02 | Others (Services) |
The following one (1) proposal has been deferred:
Sl. No. | Name of the applicant | Particulars of the proposal | Sector |
1. | M/s Goyal Impex and Industries Limited | Post facto approval for issue of 50,974 equity shares on partly paid up basis. | Textile |
Foreign Direct Investment approvals: four proposals cleared, one deferred, including pharma investment and sectoral activity additions Government approved four Foreign Direct Investment proposals covering a pharma investor's incoming equity from its Mauritius parent with share acquisition and post-facto regularisation, expansion of permitted activities for a financial software firm to operate White Label ATMs, inclusion of additional activities for a publishing company under prior FIPB clearance, and near-total investment by a services company into a proposed Indian LLP; one textile-sector post-facto approval for partly paid shares was deferred.
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