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Press Information Bureau
Government of India
Ministry of Finance
14-June-2016 16:34 IST
Based on the recommendations of Foreign Investment Promotion Board in its 235thmeeting held on 20th May 2016, the Government has approved two FDI proposals involving FDI of ₹ 2.19 crore, and recommended one proposal for approval of the Cabinet Committee on Economic Affairs.
1. The following two (02) proposals have been approved:
S. No | Item No | Name of the applicant | Gist of the proposal | Sector | FDI (Rs. crore) |
1 | 3 | M/s Aurobindo Pharma Limited | M/s Aurobindo Pharma Limited has sought an approval for the following categories: | Pharma | 2.19 |
2 | 5 | Sterling Commerce Solutions India Private Limited | Approval has been sought by Sterling Commerce for acting as an Investing company for | Investing | Nil |
The following one (01) proposal has been recommended for approval of Cabinet Committee on Economic Affairs (CCEA) under para 5.2.2 of the extant FDI Policy, 2015:
S. No. | Item No | Name of the applicant | Gist of the proposal | Sector | FDI (Rs. crore) |
|---|---|---|---|---|---|
1 | 11 | M/s Holcim (India) Private Limited | Approval sought by M/s Ambuja Cements Ltd., for acquisition of 24% shares in its holding company, Holcim (India) Pvt Ltd from the latter’s holding company M/s Holderind Investments Ltd (NR) and subsequent reverse merger through a share swap. | Investing company | (3400) approx. |
The following three (03) proposals have been deferred:
The following seven (07) proposals have been rejected:
S. No. | Item No | Name of the applicant | Gist of the proposal | Sector |
1 | 2 | Rizobactor Argentina, S.A | Approval for making investment in India through creating its wholly owned subsidiary for the purpose of dealing in liquid inoculants and bio-fertilizers and adjuvants. | Pharma |
2 | 4 | M/s Indian Energy Exchange Limited | Approval has been sought by M/s Indian Energy Exchange Limited to remove compounding condition which was imposed vide letter dated 29.05.2015. | Power exchange |
3 | 6 | M/s Veritas (India) Limited | M/s Veritas (India) Limited has sought post facto approval for the issuance of 4,00,000 warrants convertible into equity shares for an aggregate consideration of INR 50 crore. | Trade and distribution |
4 | 9 | M/s BMJ Group India Private Limited | Approval has been sought to expand the scope of its business activities by engaging in the business of publication of certain scientific/specialty healthcare journals/periodical in line with the original edition of foreign publication being published by its holding company i.e. M/s BMJ Publishing Group Limited, United Kingdom. | Publishing |
5 | 10 | M/s CevaSanteAnimale | Approval for investment by in M/s Polchem Hygiene Laboratories Private Limited by way of purchase of shares of the investee company from existing resident shareholders in 2 tranches | Pharma |
6 | 13 | M/s Sharekhan limited | Acquisition of up to 100% of the share capital of Sharekhan Limited other than the shares held in Sharekhan Limited by Human Value Developers Private Limited by BNP Paribas SA France and/or one or more of BNP’s French subsidiaries, andacquisition of 100% capital of Human Value Developers Private Limited by BNP and/ or one or more of BNP’s French subsidiaries. | NBFC |
7 | 14 | M/s Exzatech Solutions Ltd | Approval has been sought to incorporate a wholly owned subsidiary in India whose main operations would be in the field of IT Sector. As the applicant company is situated in Bangladesh and is going to incorporate a wholly owned subsidiary company in India, it comes under approval route | IT/ITES |
The following one (01) proposal does not lie before FIPB:
S. No | Item No | Name of the applicant | Gist of the proposal | Sector |
|---|---|---|---|---|
1 | 1 | M/s WISKA India Private Limited | Approval has been sought by M/s WISKA India Private Limited (wholly owned subsidiary of WISKA Hoppmann and Mulsow GmbH), for conversion of import payables of INR 1.35 crore into 13,50,000 equity shares of ₹ 10/- each. The applicant purchases goods from WISKA Hoppmann and Mulsow GmbH and resells them in Indian market. Now the company wants to convert part of its old import payables into equity share capital. | Wholesale trading |
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DSM/ka
Foreign Direct Investment approvals and referrals: FIPB cleared ESOP and investing-company proposals and recommended a reverse-merger acquisition. Two FDI proposals were approved by FIPB: grant and exercise of ESOPs to non-resident employees of a pharmaceutical company, and approval for a company to act as an investing company for certain dormant or software-related subsidiaries. One proposal was recommended to CCEA for approval concerning an acquisition and reverse merger via share swap. Three proposals were deferred for further clarification and seven were rejected; one proposal was found not to lie before FIPB. Affected sectors include pharma, investing company transactions, telecom, power exchange, trade and distribution, publishing, NBFC, IT/ITES and wholesale trading.Press 'Enter' after typing page number.