TaxTMI Login
TaxTMI 
Login
Loading...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 3375 
Press 'Enter' after typing page number.
of 3375 Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of 3375 Press 'Enter' after typing page number.
of 3375 Press 'Enter' after typing page number.
All News
of 3375 Press 'Enter' after typing page number.
All News
Join Channel 
Note
Bookmark
Share
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 238th Meeting held on 3rd August 2016, the Central Government has approved seven (07) FDI proposals as per details enclosed.
| S. No | Item No | Name of the applicant | Gist of the proposal | Sector | FDI (Rs. crore) |
| 1 | 2 | M/s IMCD India Pvt. Ltd | Post facto approval for issuing 42,13,814 equity shares of ₹ 10 fully paid up at a premium of ₹ 140 per share to IMCD Finance BV as consideration for transfer of IMCD Group BVs Indian branch into IMCD India pursuant to a court approved scheme of demerger. The fair value of the share has been determined to be ₹ 14.04 per share. | Wholesale Trading | Nil |
| 2 | 3 | M/s Fincare Business Services Private Limited | Approval has been sought for amendment in the Clause 2, 5 and 6 of the approval letter dated 08.05.2015 | Investing company/ Small Finance Bank | Nil |
| 3 | 6 | Haymarket SAC Publishing (India) Private Limited | Haymarket SAC Publishing (India) Private Limited has sought an approval for the take over the publication of the specialty magazine "Print Week" from Haymarket Media (India) Private Limited, its sister concern | Publication | Nil |
| 4 | 7 | M/s Laurus Labs Private Limited | Approval for downstream investment into Sriam Labs Private Limited (‘Sriam Labs’) by purchase of 10,368,455 equity shares of ₹ 10 each representing 73% of fully paid-up equity share capital of Sriam Labs from the existing shareholders for a total consideration of an amount of ₹ 22.99 crores, thereby Sriam Labs will become 100% wholly owned subsidiary of Laurus Labs | Pharma | 22.99 |
| 5 | 11 | M/s Reckitt Benckiser (India) Limited. | M/s Reckitt Benckiser (India) Limited, a WOS of the Reckitt group, proposes to acquire 25.028% paid up share capital of M/s Reckitt Benckiser Healthcare India Limited from its current foreign investor viz. M/s Reckitt Benckiser (Singapore) Pte. Ltd., Singapore | Pharma | Nil (outflow of ₹ 812 crore approx.) |
| 6 | 13 | Samara Capital Partners Fund II Limited | Approval has been sought for the purchase of 100% of the shareholding of Adcock Ingram Healthcare Private Limited from Adcock Ingram Healthcare (Pty) Ltd and Adcock Ingram International (Pty) Ltd | Pharma | Nil |
| 7 | 16 | M/s Tikona Digital Networks Pvt Ltd | Approval has been sought for the issuance of CCDs thereby increasing foreign equity to 76.73% | Telecom | 267.00 |
The following seven (07) proposals have been deferred:
| S. No. | Item No | Name of the applicant | Gist of the proposal | Sector |
| 1 | 5 | M/s Celon Laboratories Limited | Approval has been sought for amendment in the following conditions in the FIPB approval letter dated August 3, 2015 and FIPB approval letter dated October 16, 2015. | Pharma |
| 2 | 9 | The Financial Times (India) Private Limited | (i) Transfer of 99.99% of The Financial Times (India) Private Limited, to Falstaff Singapore Pte Ltd, currently held by Pearson, Singapore for an aggregate consideration of SGD 1 (ii) Transfer of 1 share of The Financial Times (India) Private Limited to Falstaff Singapore Pte Ltd, currently held by Pearson, Amsterdam (iii) Transfer of entire shareholding of Falstaff Singapore Pte Ltd to Nikkei Inc, currently held by Pearson, Amsterdam | Publishing |
| 3 | 10 | M/s HSBC Securities and Capital Markets (India) Pvt Ltd | Approval has been sought for: - | Financial Services |
| 4 | 14 | Quintillion Business Media Private Limited | Approval has been sought for the issuance of equity shares to BLOOMBERG L.P. The investee company is proposed to be engaged inter alia in the uplinking and broadcasting of a business news television channel and operating related digital content platform in India. | Up-linking of Non-News |
| 5 | 15 | M/s Morgan Stanley India Primary Dealer Private Ltd | Approval for increasing equity participation from 75% to 100% by way of transfer of equity shares from M/s Morgan Stanley India Capital Private Limited (indirectly owned by Foreign Investor) to M/s Morgan Stanley Mauritius Company Limited, Mauritius by amending the earlier approval. | Financial Services |
| 6 | 18 | M/s Idea Cellular Infrastructure Services Limited | The applicant i.e. M/s Idea Cellular Infrastructure Services Limited (ICISL) is a wholly owned subsidiary of IDEA, which has become a foreign owned company with more that 50% foreign investment. Accordingly, ICISL is also deemed to have foreign investment in excess of 50% as a mirror image of its parent company. The proposal is to take on record the increase of foreign investment in ICISL beyond 50% and allow foreign investment in ICISL up to 67.5%. | Telecom |
| 7 | 19 | M/s BT Global Communications (Mauritius) Limited | Approval to acquire remaining 26% equity and preference share capital of M/s BT Telecom India Private Limited (Investee Company) from M/s Jubilant Stock Holding Private Limited, which will result in increasing its shareholding in the investee company from 74% to 100%. | Telecom |
The following five (05) proposals have been rejected:
| S. No | Item No | Name of the applicant | Gist of the proposal | Sector |
|---|---|---|---|---|
| 1 | 1 | M/s EXFO Asia Pacific Pte. Limited | Approval for investment in a Limited Liability Partnership, for carrying out wholesale trading operations. | LLP |
| 2 | 4 | M/s Sanofi-Synthelabo (India) Pvt. Ltd. | Approval sought by a foreign owned Indian pharmaceutical company, for the merger of two other foreign owned Indian pharmaceutical companies into itself. | Pharma |
| 3 | 8 | M/s Baxter (India) Private Limited | Approval has been sought for deletion of Pharma related conditions from the FIPB approval dated 10.09.2014. The said approval was about conversion of ECBs into equity shares and fresh FDI against issue of equity shares to a non-resident Group company. | Pharma |
| 4 | 12 | M/s Oxigen Services Pvt Ltd | Approval has been sought for removal of clause no. 4,5,7,10 & 11 of FIPB Approval No FC.10(2012)/168(2011), because the activity of the company is 100% under Automatic Route. Therefore the terms and conditions mentioned under aforesaid clauses are not applicable on the company. | Financial Services |
| 5 | 17 | M/s Crown Cement Manufacturing India Private Limited | Approval for foreign investment from M.I. Cement, Bangladesh. The company is offering a private placement of 1,55,10,000 shares of its common stock to M.I. Cement, Bangladesh subject to FIPB approval | Manufac-turing |
