Loading...

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 characters 0/2000
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.
Relevance Default Date
    India-US trade pact to be finalised once US offers preferential rate: Goyal
    Business Nextgen Finance Raises Rs 215 Crore in Equity to Accelerate MSME Lending
    Drugs: ED raids in 4 states; over 2 dozen offenders, foreign links under scanner
    Razorpay Launches a Conversational AI Account Manager 'RAY' on WhatsApp For Businesses, in Partnership with IndusInd Bank
    AssetPlus Launches Portfolio Management Services to Help MFD Partners Grow and Retain High-Net-Worth Clients
    APEDA Facilitates Flag-Off of 18 MT of NPOP-Certified Ethnic Rice from Tripura for Export to Austria and the Netherlands
    VR LIVIN’s ‘THE FIRST’ Records Sale of 20 Villas Within Two Days of Launch
    IAAPI Calls for GST Rationalisation to Support Growth and Consumer Demand in India’s Amusement Industry
    ED raids multiple locations in Keralam in hybrid ganja smuggling money laundering case
    Rupee jumps 47 paise to 94.26 against US dollar in early trade
    ED raids multiple locations in Kolkata in bank loan fraud case
    Commerce & Industry Minister Shri Piyush Goyal Calls Upon Auto Component Industry To Go Global
    18th Meeting of Heads of IP Offices of BRICS Countries Held in New Delhi
    India’s Sovereign Credit Rating upgraded to 'A-' with Stable Outlook by Japan Credit Rating Agency
    Secretary, DFS Chairs Review Meeting on Financial and Business Performance of Public Sector General Insurance Companies (PSGICs)
    GIFT IFSC emerges as a strong and vibrant international banking hub, mobilises over $52.8 billion under RBI’s FCNR(B) Swap Facility, $11.62 bn in EC...
    Ex-CII executive Shuchita Sonalika appointed COO of Canada-India Business Council
    India's 7.8% growth despite global disruptions remarkable: FM Sitharaman at investors meet in US
    After 35 years, India's sovereign rating upgraded to 'A-' by JCR on solid growth, resilient financial system
    Rupee rises 22 paise to close at 94.73 against US dollar
❯❯
Maximize Maximize Maximize
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:
Show All Summaries Hide All Summaries
September 3, 2026
Show AI Summary
Preferential tariff treatment remains the condition for finalising the bilateral trade agreement and improving Indian export competitiveness.
Finalisation of the India-US Bilateral Trade Agreement is contingent on the United States extending preferential tariff treatment to India relative to competing supplier countries. Further negotiations are required following changes in the United States tariff environment. A comparative tariff advantage is intended to improve the price competitiveness of Indian goods in the United States market, particularly against competitors benefiting from lower duties under least-developed-country preferences or trade agreements.
September 3, 2026
Show AI Summary
MSME secured lending equity capital, subject to regulatory approval, supports expansion without management-control change in operations.
Business Nextgen Finance Private Limited, a non-deposit taking non-banking financial company registered with the Reserve Bank of India, has raised Rs 215 crore in equity capital to expand secured credit for micro, small and medium enterprises. The transaction received prior Reserve Bank of India approval. The capital base will support secured lending scale-up, geographic expansion, technology investment and wider access to formal credit in underserved markets. The investment does not involve a change in management or day-to-day control.
September 3, 2026
Show AI Summary
Money-laundering probes into narcotics trafficking rely on predicate police and narcotics cases and examine cross-border linkages.
Money-laundering investigation under the Prevention of Money Laundering Act involves coordinated searches in connection with multiple narcotics-trafficking matters. The investigation is founded on police and Narcotics Control Bureau FIRs and linked chargesheets concerning separate drug-trafficking allegations, including alleged trafficking in methamphetamine, marijuana and MDMA with suspected cross-border linkages.
September 3, 2026
Show AI Summary
Conversational AI account management enables businesses to access payment information, settlement support, refunds, and payment links through WhatsApp.
RAY is a conversational AI account manager on WhatsApp that enables businesses to access payment information, support, and operational actions through messages or voice notes. It can provide payment summaries, analyse payment activity, monitor settlement status, generate payment links, and issue refunds. The AI assistant is designed to proactively identify payment-health issues, flag settlement events, recommend actions, and use merchant-specific context to support payment management without dashboard navigation.
September 3, 2026
Show AI Summary
Portfolio management services distribution enables certified mutual fund distributors to digitally onboard and report for eligible high-net-worth clients through AssetPlus.
AssetPlus has launched Portfolio Management Services for certified Mutual Fund Distributor partners to digitally onboard, track, manage and report PMS investments for eligible high-net-worth clients. PMS distribution requires NISM Series-XXI-A certification and operates within the APRN distributor-registration framework. PMS comprises individually managed portfolios run by SEBI-registered Portfolio Managers and held in clients' demat accounts. The minimum investment is Rs. 50 lakh, and offerings are governed by the SEBI (Portfolio Managers) Regulations, 2020. The platform provides daily reconciliation of holdings, performance and valuations.
September 3, 2026
Show AI Summary
NPOP-certified ethnic rice exports strengthen organic producer access to international markets through certification, traceability, and organised export production.
NPOP-certified ethnic rice exports from Tripura to Austria and the Netherlands connect local farmers and Farmer Producer Companies with international markets through organised, export-oriented production. The initiative emphasises certification, traceability, food safety and quality as requirements for access to markets for certified organic products. Buyer-seller linkages support export opportunities, while coordinated organic value-chain engagement strengthens certification and quality systems and supports producers in meeting international standards.
September 3, 2026
Show AI Summary
Gated residential community launch combines smart-home villas, extensive lifestyle amenities and planned expansion into future residential developments.
VR LIVIN Ventures LLP launched 'THE FIRST', an 83-villa gated residential community in Madhavaram, North Chennai, which recorded sales of 20 villas during its first two launch days. The development includes smart-home villas and more than 50 lifestyle amenities, with access to nearby metro connectivity and social infrastructure. It forms part of the company's intended expansion of residential projects in Chennai and other South Indian locations.
September 3, 2026
Show AI Summary
GST rationalisation for amusement park admissions could lower ticket prices, stimulate consumer demand, and support investment without input tax credit.
GST rationalisation for amusement park, water park and indoor entertainment admission tickets is sought through a flat 5% GST rate without Input Tax Credit. The proposed rate is intended to reduce ticket prices, improve affordability and increase customer demand in a capital-intensive tourism and entertainment sector. Many smaller and mid-sized operators report limited ability to offset GST liability through ITC. Lower taxation is projected to support facility expansion, revenue growth, new investment, employment and reinvestment in recreational services.
September 3, 2026
Show AI Summary
Money laundering linked to hybrid ganja smuggling involves alleged illicit cross-border transfers and foreign-exchange violations.
Enforcement Directorate searches form part of a money-laundering investigation into alleged hybrid ganja smuggling from Thailand. A case under the Prevention of Money Laundering Act concerns suspected laundering of drug-trafficking proceeds and transfer of funds to Thailand through illegal channels. The inquiry also examines possible foreign-exchange violations and an alleged arrangement involving carriers, visas and funds for transporting narcotic substances.
September 3, 2026
Show AI Summary
Foreign-currency deposit mobilisation supports currency appreciation while creating surplus-liquidity sterilisation pressures through deposit swaps in domestic banking markets.
Foreign-currency deposit mobilisation strengthened foreign-exchange liquidity and supported rupee appreciation. FCNR(B) deposits, together with overseas foreign-currency borrowings and external commercial borrowings, increased aggregate foreign-currency resources. Bank swaps of such deposits with the central bank may create surplus banking-system liquidity and a sterilisation challenge, while oil prices, global yields, dollar movements and foreign equity inflows remain relevant currency-market factors.
September 3, 2026
Show AI Summary
Money laundering investigation examines alleged diversion of bank loans from a power project to group entities and personal use.
Money laundering investigation under the Prevention of Money Laundering Act concerns alleged diversion of bank loans obtained by Kohinoor Power for a power plant in Jharkhand. The loan proceeds were allegedly transferred to other group entities and used personally. Searches were conducted at eleven premises associated with the group's promoters, directors and auditors. The company entered liquidation proceedings before the National Company Law Tribunal, with limited recovery for creditors.
September 3, 2026
Show AI Summary
Globalisation of auto component manufacturing is linked to trade access, resilient supply chains, technology adoption, safety, and vehicle scrappage.
The auto component industry is encouraged to expand globally through reciprocal market access, overseas manufacturing, international investment and trade partnerships. Supply-chain resilience is to be strengthened through indigenisation of vulnerable products, access to critical minerals, and domestic capacity in auto components, speciality steel, technical textiles and semiconductors. Priority is also given to high-value integrated solutions, artificial intelligence-enabled quality control, vehicle safety and industrial parks offering manufacturing infrastructure. Vehicle scrappage requires coordinated government incentives and fair industry valuation to support replacement demand for new-age vehicles.
September 3, 2026
Show AI Summary
Updated IP cooperation guidelines strengthen cross-border innovation, patent examination coordination, traditional knowledge protection, and geographical indication commercialisation.
IP BRICS Heads adopted Updated Operational Guidelines to direct result-oriented intellectual property cooperation, promote cross-border innovation, and reinforce joint engagement in global IP standards. Priority areas include protection of traditional knowledge and traditional systems of medicine, reinforced patent examination cooperation, exchange of search results, patent analytics, and geographical indication protection and commercialisation. Coordination mechanisms and periodic progress reviews are emphasised for effective implementation and continuity of cooperation.
September 3, 2026
Show AI Summary
Sovereign credit rating upgrade reflects resilient growth, improved fiscal expenditure quality, stronger financial systems, and a robust external position.
India's long-term foreign-currency and local-currency issuer ratings were upgraded from 'BBB+' to 'A-', with a Stable Outlook, reflecting resilient economic growth, improved fiscal expenditure quality, strengthened financial-sector soundness, and a robust external position. Fiscal improvement is linked to greater capital expenditure and lower fiscal deficit. Financial resilience is supported by improved banking and non-banking sector asset quality and capital adequacy. External strength arises from a contained current account deficit, services surplus, and foreign-exchange reserves exceeding short-term external debt.
September 3, 2026
Show AI Summary
Public sector general insurance performance requires profitable underwriting, lower claim ratios, digitalisation, standardised monitoring, and quality grievance redressal.
Public Sector General Insurance Companies were advised to focus on profitable business lines, reduce the Incurred Claim Ratio, and accelerate technology use and digitalisation while optimising related expenditure. They are to improve insurance penetration, density, outreach and customer awareness, particularly in underserved segments, while reducing protection gaps. A robust, standardised KPI framework should enable comparable financial and non-financial performance assessment and be reviewed quarterly. Customer grievances require expeditious and quality redressal.
September 3, 2026
Show AI Summary
Cross-border financing through GIFT-IFSC expands foreign currency mobilisation, external commercial borrowing disbursements, and international bond market access.
GIFT-IFSC's IBUs mobilised foreign-currency liquidity under the RBI's FCNR(B) deposit swap facility, with 20 IBUs sanctioning USD 54.02 billion and disbursing approximately USD 52.82 billion as at 31 August 2026. Between April and August 2026, IBUs disbursed USD 11.62 billion in External Commercial Borrowings, while Indian banks raised USD 11.12 billion through bond listings on IFSC exchanges. These activities support cross-border financing, international capital-market access and foreign-exchange inflows.
September 3, 2026
Show AI Summary
Bilateral business council leadership appointment strengthens operational capacity to advance Canada-India economic and investment partnerships.
Operational leadership for bilateral economic engagement is strengthened through the appointment of Shuchita Sonalika as the first Chief Operating Officer of the Canada-India Business Council. The appointment is directed toward enhancing the council's capacity to support expanding investment and economic relations between Canada and India, in coordination with its board, members and partners. Sonalika brings international affairs experience in advancing India's economic partnerships across global markets.
September 3, 2026
Show AI Summary
Regulatory certainty and compliance reforms support investment facilitation, infrastructure development, MSME credit access, and reduction of bank non-performing assets.
Regulatory certainty, ease of compliance and investment facilitation are identified as central elements of India's economic reform orientation. The Insolvency and Bankruptcy Code is included among reforms supporting regulatory certainty, reduced paperwork and easier compliance. Policy priorities include infrastructure development, artificial intelligence and data centres, credit access for MSMEs, reduction of banks' non-performing assets, fiscal discipline, and investment facilitation by central and state governments.
September 2, 2026
Show AI Summary
Sovereign credit rating upgrade reflects resilient economic growth, fiscal quality, financial-system soundness, and external-sector resilience.
Japan Credit Rating Agency upgraded India's foreign-currency and local-currency long-term issuer ratings to A-, citing solid economic growth, strengthened growth-oriented policies and improved financial-system soundness. Improved banking asset quality, insolvency mechanisms, government capital infusion and stronger central-bank supervision support financial resilience. Fiscal quality has improved through greater infrastructure-focused capital expenditure and restraint in current spending, while a contained current-account deficit, services surplus and substantial foreign-exchange reserves support resilience to external shocks.
September 2, 2026
Show AI Summary
Currency-market intervention and foreign capital inflows supported rupee resilience amid higher crude prices and dollar strength.
Foreign capital inflows and modest foreign institutional equity purchases supported rupee appreciation against the US dollar despite weak domestic equities, elevated crude oil prices and a stronger dollar. RBI monitoring and apparent currency-market intervention supported the rupee amid risk aversion, higher US Treasury yields and concerns over crude supply disruptions. Forthcoming US employment data remained relevant to dollar and rupee direction.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Showing Results for : Reset Filters

31 Proposals of FDI Amounting to Rs. 3844.70 Crore Approved.

July 19, 2011

Contents
Summary
Note

Note

-

Bookmark

Print

Print

Press Information Bureau
Government of India
Ministry of Finance

19-July-2011 17:58 IST

31 Proposals of FDI Amounting to ` 3844.70 Crore Approved

 

 

            Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on July 6, 2011, Government has approved 31 Proposals of Foreign Direct Investment amounting to 3844.70 crore approximately. 

                                                                                                                                                                                                                                                                                                      

            Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 06.07.2011     

            Following 31 (Thirty one) proposals have been approved.

Sl. No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows (Rs. In crore)

CIVIL AVIATION

1

M/s Celebi Hava Servisi A.S. Turkey

Transfer of shares from Non Resident (NR) to NR to carry out the third party Ground Handling Services at Mumbai Airport.

No Fresh Inflow

CORPORATE AFFAIRS

2

M/s Cox & Kings Ltd., Mumbai

To allot warrants together with secured redeemable non-convertible debentures (“NCDs”) and/or equity shares and/or convertible securities other than warrants (“Convertibles”), through a Qualified Institution Placement (QIP) to the non-resident Qualified Institutional Buyers (QIBs) to carry out the business of Leisure travel services, corporate travel services, visa processing services and foreign exchange services.

750.00

ECONOMIC AFFAIRS

3

M/s Europ Assistance India Pvt. Ltd., Mumbai

Ex-post-facto approval for conversion of pre-incorporation expenses to carry out the business of providing services related to travel, automobile and medical and act as logistic inhouse for travel related activity.

0.15

4

M/s GGV Managerial Services Pvt. Ltd., Hyderabad

To issue shares against the amount received upon termination of the lease to carry out the business of development and implementation of managerial and technical support systems for processing, electronic filing, accounting processes, expense management, budgeting.

0.16

5

M/s InMobi Technologies Pvt. Ltd., Bangalore

Transfer of shares by way of share swap to carry out the business of Developing software and licensing it to Advertising Network related business.

No Physical inflow

6

M/s Vertex Securities Ltd.

Ex-post-facto approval for non-compliance of minimum capitalization norms.

1.70

FINANCIAL SERVICES

7

M/s Deepshikha Trading Company Pvt. Ltd., Kolkata

To allow conversion of non repatriable shares purchased on payment of foreign exchange into repatriable shares, so as to enable its sale to Resident companies.

No Fresh Inflow

8

M/s Asia Pragati Capfin Pvt. Ltd., Delhi

Conversion of an operating company into  an operating cum investing company to make downstream investment in various Indian companies, including Venture Capital Funds, Private Equity Funds and Mutual Funds.

No Fresh Inflow

9

M/s Multiples Pvt. Equity Fund – Scheme-1, Mumbai

To issue units, to make investments in securities of the Indian companies and to distribute income realized on its investment.

1000.00

INFORMATION & BROADCASTING

10

M/s Big Showbiz Broadcast Ltd., Delhi

Induction of foreign equity and conversion of operating company into an operating cum investing company to invest, from time to time, in other companies engaged in, or proposing to engage in, up-linking and down-linking of non-news and non-current affairs television channel and/or related activities.

79.14

POWER

11

M/s Hinduja Energy (India) Ltd., Mumbai

Induction of foreign equity into an Indian company which does not have any operations and also does not have any downstream investments.

400.00

STEEL

12

M/s Stemcor Holdings Ltd., UK

Acquisition of shares by way of share swap in mining sector.

No Fresh Inflow

TOURISM

13

M/s Middle East Hotel Company Pvt. Ltd., Kerala

Ex-post-facto approval from for (i) transfer of shares from NRIs (acquired from their Rupee resources as Residents) to NR Company, (ii) conversion of non-repatriable equity into repatriable equity which was from their rupee resources and (iii) payment of sale consideration by NR in INR.  The company is engaged in the business of hotels & restaurants.

No Fresh Inflow

URBAN DEVELOPMENT

14

M/s Brahma Center Development Pvt. Ltd., Delhi

To issue equity shares against the initial bid amount paid to HSIIDC to carry out the business of Builders, developers & infrastructural contractors.

62.00

COMMERCE

15

M/s Ferragamo International B.V. Netherlands (M/s Ferragamo Retail India Pvt. Ltd.

Change of name of the foreign collaborator due to internal restructuring of the group and subsequent merger.  The company is engaged in the business of single brand retailing.

Nil

ECONOMIC AFFAIRS

16

M/s Ghir Investments (Mauritius) Ltd.

Amendment in FC approval for increase in foreign equity percentage in an investing company.

Included in earlier approval

INFORMATION & BROADCASTING

17

M/s Ortel Communications Ltd.

To issue equity shares to NR to the extent that the foreign shareholding in the company post the issue shall remain within the ceiling of 49% of its paid equity share capital.  The company is engaged in the business of building hybrid fibre coaxial (HFC) communications network to provide a range of telecom value added services such as High Speed Internet Access, Cable Television and Basic Telephony, E-Commerce, and Video Conferencing.

Not available

18

M/s G+J International Magazines GmbH, Germany

To increase foreign equity percentage to carry out the business of publication and sale of speciality and life style magazines.

21.54

ECONOMIC AFFAIRS

19

M/s Natixis Global Asset Management, France

To invest by way of indirect foreign investment in Pension Fund Subsidiary.

300.00

20

M/s Ashwell Holding Company Pvt. Ltd., Mumbai

Induction of foreign equity to carry out the business of investing company.

852.60

21

M/s BNP Paribas S.A. Paris

To set up a WoS to act as an investing company.

225.00

DEFENCE PRODUCTION

22

M/s NCBG Holdings, Inc., Cayman Islands

Induction of foreign equity in an Indian company to undertake the manufacturing of wiring sets including wiring sets of a kind used in vehicles, aircraft, ships or other machinery used in defence industry.

4.45

INDUSTRIAL POLICY & PROMOTION

23

M/s Precision Electronics Pvt. Ltd.

To undertake the additional activity in the defence sector.

No Inflow

24

M/s Interglobe Enterprises Ltd.

To set up separate joint venture companies to run duty free shops at specified International Airports.

Nil

PETROLEUM & NATURAL GAS

25

M/s Southern CNG Automobiles India Pvt. Ltd., Kolkata

Induction of foreign equity by a company from Bangladesh.

4.59

TELECOMMUNICATIONS

26

Mr. M. Rezaul Hassan and Ms. Monnujan Nargis, Bangladesh

Ex post facto approval to set up a WOS to undertake the business of Software development Services by citizens of Bangladesh.

0.01

ECONOMIC AFFAIRS

27

M/s Status Infin (India) Pvt. Ltd., Hyderabad

Induction of foreign equity in an investing company providing finances to companies engaged in power, infrastructure and emerging sectors in India.

45.00

INDUSTRIAL POLICY & PROMOTION

28

M/s Mecords India Ltd.

Ex-post-facto approval for issue of partly paid up equity shares.

17.36

29

M/s Ybrant Digital Ltd.

Ex post facto approval for issue of warrants to carry out the business of Software Development, IT and IT enabled services.

45.00

30

M/s Amrit Jal Ventures Pvt. Ltd

Transfer of shares by way of swapping equity shares  in lieu of  acquisition of existing  investments  of foreign collaborator held in the three SPVs.

Nil

TELECOMMUNICATIONS

31

M/s B4U Television Network (India) Pvt. Ltd.

Induction of foreign equity by an erstwhile OCB to carry out the business of up-linking a non-news and current affairs TV channel.

36.00

The following 18 (Eighteen) proposals have been deferred:

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Allcargo Global Logistics Ltd., Mumbai

Ex post facto approval to issue and allot optionally convertible warrants to carry out the business of logistics business comprise of the Multi-modal Transport Operations, Inland Container Depot/Container Freight Stations, Project Cargo Handling, Equipment Hiring, Warehousing.

2

M/s Spiral EHL Engineering Pvt. Ltd., Delhi & Haryana

Induction of foreign equity to carry out the business of manufacturing military aero structures and other related items and services.

3

M/s JAS Forwarding Worldwide Pvt. Ltd., Delhi & Haryana

Ex-post–facto approval for issue of shares against advance received.

4

M/s Kae Capital Trustee Company Pvt. Ltd., Mumbai

Induction of foreign equity in a Fund to undertake the business of making investment in various portfolio companies.

5

M/s Financial Planning Corporation India Pvt. Ltd., Mumbai

To undertake the additional activity of publishing speciality journal/magazines pertaining to various aspects of financial planning.

6

M/s Fine Publishing India Pvt. Ltd., Delhi

Induction of foreign equity to carry out the business of publishing specialty technical magazines covering the subject of wine and champagne.

7

M/s IPFonline Ltd., Chennai

Induction of foreign equity by way of downstream investment to carry out the business of publishing/printing of technical magazines/ periodicals/journals.

8

M/s Cordia International Corp., USA

To increase shareholding from 49 percent to 74 percent to carry out the business of telecommunication and act as a services provider. Services include but are not limited to the provision of IP communication services and related services, technology related products and services, web hosting, collection and ISP services.

9

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

To act as investing-cum-operating company to make downstream investments in companies in India, engaged in the aviation services business.

10

M/s Dish TV India Ltd.

Transfer of shares from NR to NR to carry out the business of telecommunication equipment and provide management and marketing of ‘agrani’ services i.e. in the area of Mobile Satellite Communications.

11

M/s Walt Disney Company India Pvt. Ltd.

To undertake the additional activity of Broadcasting and downlinking.

12

M/s Vodafone Essar Ltd.

Transfer of shares from NR to NR to carry out the activities relating to Telecommunication.

13

M/s G4S Security Services (India) Pvt. Ltd., Delhi & Haryana

Ex-post-facto approval for induction of foreign equity to carry out the business of providing security services.

14

M/s Hughes Communications India Ltd.

To make downstream investment to carry out the activity relating to telecom sector.

15

M/s UT Starcom India Telecom Private Limited

To undertake additional activity relating to Telecom/I&B sector.

16

M/s Essar Capital Holdings (India) Ltd., Mumbai

Acquisition of equity shares by way of subscription to new equity shares and/or purchase of existing equity shares in an investing company engaged in the telecom sector.

17

M/s Harsh Intertrade Private Limited, Ahmedabad

Ex-post-facto approval for allotment of shares against the amount received and kept in Escrow account.  The company is engaged in the business of Development and Management of Hotels.        

18

M/s Shiva Regency Pvt. Ltd., Ahmedabad

Ex-post-facto approval for allotment of shares against the amount received and kept in Escrow account.  The company is engaged in the business of Development and Management of Hotels.

The following 3 (Three) proposals have been rejected:

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Goldshield Group Ltd.

To exit from the real estate business by way of either or any combination as under:-

(i) Repatriation of cash/bank balance; and/or (ii) Sale of undeveloped land and repatriation of such sale proceeds to the applicant after payment of relevant taxes and compliance with regulatory laws of India; and/or (ii) Sale of shares to Indian company.

2

M/s Verizon Communications India Pvt. Ltd.

Transfer of equity shares from non-resident shareholder to non-resident group in Telecom Sector.

3

M/s ASP Sealing Products Ltd.

Ex post facto approval for transfer of shares   from NRI to NR on the advice of RBI.

The following 2 (Two) proposals have been advised to access automatic route. 

Sl. No

Name of the applicant

Particulars of the proposal

FDI/NRI inflows

(` in crore)

1

M/s Dhruv Axon Interconnect Pvt. Ltd., Karnataka

To undertake the additional activities of an Indian Defence Offset Partner by supplying certain components to manufacturers and suppliers of products for the defence sector under the Defence Offset Policy.

0.02

2

M/s SightLife USA

To set up a 100 per cent Charitable Company under Section 25 of the Companies Act.

0.05

The following 1 (One) proposal has been withdrawn from the Agenda. 

Sl. No.

Name of the applicant

1

M/s TM Harbour Services Pvt. Ltd.

DSM/SS/GN

 

Topics

Acts Income Tax