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
    Govt lifts ban on wheat exports to protect farmers interest amid depressed local prices
    FDA suspends licences of five food outlets on Mumbai Cricket Association premises
    Govt appoints ex-diplomat Akbaruddin, 2 other new members to RBI central board
    'Only 6.83 per cent after 4 years': Omar Abdullah defends J&K power tariff hike
    No sugar shortage in India, prices to ease in coming days following govt's measures: ISMA
    Govt lifts export ban on wheat and its products
    ED raids several places in UP, Haryana in GST fraud case; over Rs 1 crore cash seized
    From Syrup Diversion to Sugar Production: SED's Integrated Process House Solution for Shivshakti Sugars' 7,500 TCD Plant
    Chandigarh University Provides In-House Training for Civil Services, Defence, Management, Banking & PSUs
    ICSI inaugurates new Chapter Office in Hyderabad
    Curis Lifesciences Charts a New Growth Path with Uninova, Export Markets and Branded Pharma Expansion
    IBC @ Crossroads: A Decade of Evolution, The Road Ahead
    Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman will embark on official visit to Canada and USA from 25th August to 2nd Septemb...
    UPI Completes 10 Years of Digital Payments Revolution- Globally Recognised as World’s Largest Real‑Time Payment System
    PROVISIONAL ESTIMATES OF SERVICE PRODUCER PRICE INDICES (BASE YEAR 2022-23) FOR Q1 OF FY 2026-27 AND FINAL INDICES FOR Q4 OF FY 2025-26.
    Minister of State for Commerce and Industry and Electronics & Information Technology Shri Jitin Prasada on Official Visit to Morocco.
    Rupee falls 3 paise to close at 95.74 against US dollar
    HSBC INDIA OPENS NEW BRANCH IN NASHIK TO SUPPORT WEALTH EXPANSION
    Commerce and Industry Minister Shri Piyush Goyal Leads A 200-Member Business Delegation to Japan.
    CBN busts inter-state heroin syndicate in ‘Op Black Hawk’; seizes over 18.6 kg crude heroin - Three members of inter-state trafficking network arr...
❯❯
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
August 24, 2026
Show AI Summary
Wheat export liberalisation replaces prohibitions to support farm prices while domestic stocks are expected to protect consumer supply.
Wheat and wheat-product exports are liberalised with immediate effect by revising their export policy from prohibited to free. The change covers wheat, wheat flour, maida, semolina and wholemeal atta, replacing the earlier export-ban framework and simplifying exports previously permitted through licences. The measure aims to support farmers amid depressed domestic prices, while adequate domestic availability and buffer stocks are expected to meet demand and moderate consumer prices.
August 24, 2026
Show AI Summary
Food safety compliance failures trigger licence suspensions for deficient hygiene, storage, refrigeration, sanitation and valid licensing practices.
Food safety enforcement measures resulted in suspension of food licences or registrations where establishments failed hygiene, food handling, storage, refrigeration, sanitation and licensing requirements. Deficiencies included unsafe temperature control, unclean refrigeration equipment, improper food storage and thawing, inadequate sanitisation, deteriorated or expired materials, deficient oil-quality checks, artificial colouring, pest infestation, cross-contamination risks and inadequate drainage. One outlet was also found to be operating under the name of an establishment without a valid food licence, resulting in suspension of its registration certificate.
August 24, 2026
Show AI Summary
Central Board Governance expands through appointments of part-time non-official directors for defined terms, alongside central bank and government representatives.
Appointments to the Reserve Bank of India's Central Board expand its part-time, non-official director membership. Syed Akbaruddin, Annie George Mathew and Janmejaya Kumar Sinha have been appointed for four years from 24 August 2026, or until further orders, whichever occurs earlier. The Central Board also includes the Governor, deputy governors, the economic affairs secretary and the financial services secretary.
August 24, 2026
Show AI Summary
Electricity tariff adjustment is linked to inflation and transmission losses, while free household units remain separately implemented.
Electricity tariff increase of 6.83 per cent after four years is presented as necessary in light of inflation and rising costs. Reducing transmission and distribution losses is identified as a means of limiting future tariff increases. Provision of 200 units of free electricity for poor and needy households through solar panels under the Muft Bijli Yojana is treated as distinct from tariff revisions.
August 24, 2026
Show AI Summary
Sugar supply management measures target speculative stockpiling through imports, stockholding limits and earlier crushing to moderate prices.
Sugar supply is characterised as adequate, and higher prices are attributed principally to speculative buying and advance stockpiling, alongside lower output, seasonal demand and global price pressures rather than an actual shortage. Duty-free raw sugar imports and stockholding limits are intended to augment availability, curb speculative accumulation and stabilise market sentiment. Imports, existing stocks, special crushing and an earlier crushing season are expected to moderate prices and improve festive-period supply. Ethanol diversion is not identified as a cause of the price movement.
August 24, 2026
Show AI Summary
Wheat export policy shifts to free trade, lifting restrictions on wheat flour, maida, semolina and wholemeal atta exports.
Wheat export policy has been revised from prohibited to free with immediate effect, lifting the export ban on wheat and related wheat products. The liberalised export treatment extends to wheat flour, maida, semolina and wholemeal atta. The restriction had been imposed to address rising domestic prices, and its removal is expected to improve international wheat availability.
August 24, 2026
Show AI Summary
Bogus input tax credit fraud investigation examines fabricated invoices, circular transactions, layered funds and alleged proceeds of crime.
Investigation into alleged bogus input tax credit fraud involved searches under the anti-money-laundering framework. The alleged scheme involved fabricated invoices and e-way bills without actual movement of goods, circular transactions, layered funds, cash withdrawals and bogus or non-existent entities. GST authorities identified fraudulent availment of input tax credit causing wrongful loss to the government exchequer. The investigation focused on tracing alleged proceeds of crime, identifying beneficiaries, and securing documentary and digital evidence.
August 24, 2026
Show AI Summary
Sugar crystallization process integration combines evaporator upgrades, continuous boiling, heat recovery and automation for efficient plantation white sugar production.
Sugar manufacturing process integration is proposed through strengthening an existing evaporator station and adding a sugar crystallization section to convert syrup production into plantation white sugar production. The scope covers design, engineering, equipment supply, erection and commissioning of condensate heaters, falling film evaporators, heat-recovery systems, continuous pans, vacuum systems and crystallizers. Continuous massecuite boiling will use chamber-specific control, while evaporator recirculation and online chemical-cleaning provisions support process control and low-grade vapour utilisation.
August 24, 2026
Show AI Summary
Competitive examination preparation supports career pathways in civil services, public employment, management, defence, research and international higher education.
Career-development and competitive-examination preparation is offered alongside academic programmes for civil services, government and public-sector employment, banking, engineering higher education, management, defence, teaching, research and overseas education. UPSC, SSC-CGL, Bank PO, GATE, CAT, CDS, UGC-NET, GRE, GMAT and IELTS preparation includes courses, workshops, mentorship, expert guidance and examination-specific resources. Access to examinations, admissions and career opportunities remains subject to applicable eligibility, selection and institutional criteria.
August 24, 2026
Show AI Summary
Corporate governance professionals gain expanded training infrastructure as Hyderabad's new Chapter Office supports Company Secretaries and students.
Institute of Company Secretaries of India has inaugurated a Chapter Office in Hyderabad to expand infrastructure for professional education, training, examinations, meetings, capacity-building programmes and stakeholder engagement. The facility is intended to support Company Secretaries and students and enable wider professional and educational activities. Company Secretaries are identified as corporate governance professionals, with expanding regulatory requirements and the formalisation and listing of micro, small and medium enterprises creating potential demand for qualified professionals.
August 24, 2026
Show AI Summary
Diversified pharmaceutical growth combines branded portfolio expansion, contract manufacturing, merchant exports, and regulatory registrations for international market development.
Curis Lifesciences Limited plans a diversified pharmaceutical strategy spanning domestic branded products, contract manufacturing and international market development. Its majority acquisition of Uninova Lifesciences is intended to strengthen own-brand marketing, distribution and portfolio expansion, including injectable products through third-party manufacturing. International initiatives include merchant exports in Kenya and a Nigerian joint venture pursuing own-brand regulatory registrations alongside contract-manufacturing and export opportunities. Commercial development in Nigeria remains contingent on relevant licences and purchase orders, while projections are subject to regulatory, market and other business factors.
August 24, 2026
Show AI Summary
Insolvency framework reform prioritises efficient resolution, value maximisation, stakeholder coordination, institutional strengthening and technology-enabled asset recovery.
Insolvency and Bankruptcy Code, 2016, entered its tenth year amid deliberations on legislative amendments, resolution timelines, stakeholder interests and value maximisation. Key areas included resolution plans and tax implications, liquidation processes, recent judicial developments, stakeholder coordination, and the roles of insolvency professionals, regulators, banking institutions and adjudicatory processes. Technological innovation, including artificial intelligence for asset tracing and recovery, alongside regulatory strengthening, capacity building and stakeholder collaboration, was emphasised for the future development of the insolvency ecosystem.
August 24, 2026
Show AI Summary
Bilateral economic and financial cooperation will advance through investment dialogues, business engagement, financial-sector partnerships, and global economic discussions.
Official visits to Canada and the United States are scheduled to strengthen bilateral economic and financial partnerships, deepen investment linkages, and advance cooperation on global economic priorities. Engagements include an Economic and Financial Dialogue, investment and business roundtables, corporate meetings, and discussions on financial-sector cooperation, technology, innovation, critical minerals, resilient supply chains, and a Comprehensive Economic Partnership Agreement. Participation in the G20 Finance Ministers and Central Bank Governors Meeting will address global economic growth, stability, and international financial cooperation.
August 24, 2026
Show AI Summary
Interoperable real-time payments enable inclusive retail transactions, bank participation, and cross-border digital payment expansion through UPI.
Unified Payments Interface (UPI) operates as an interoperable, real-time digital payments platform for peer-to-peer and person-to-merchant transactions. Its network includes varied banking institutions acting as remitter and beneficiary payment service providers, with performance monitoring across participants. Person-to-merchant payments drive transaction volume through routine small-ticket retail use, while person-to-person payments represent a larger share of transaction value. UPI also supports cross-border digital payments, with future growth linked to technological advancement, broader adoption, policy support, and financial inclusion.
August 24, 2026
Show AI Summary
Service Producer Price Indices track quarterly price movements across financial, transport, telecom and insurance services using sub-service weights.
Service Producer Price Indices based on 2022-23 set out provisional first-quarter estimates for FY 2026-27 and final fourth-quarter estimates for FY 2025-26 across financial, insurance, telecom, railway and air-passenger services. Latest quarterly data show negative year-on-year inflation for securities transaction and banking services, while banking service contribution, pension-fund management, insurance, telecom and railway services record positive inflation. Aggregate weights are not assigned because the covered services do not represent the entire service sector; sub-service weights are used to derive service-level PPIs.
August 24, 2026
Show AI Summary
Food safety cooperation supports imported-food quality information exchange and technical collaboration within broader bilateral economic and trade engagement.
India-Morocco economic cooperation is being advanced through discussions on trade diversification, market access, investment, industrial cooperation, customs, agriculture, food safety, energy, digital transformation and logistics. A proposed food safety Memorandum of Understanding would support exchanges on imported-food safety and quality, testing laboratories, analytical methods, import procedures, quality control, sampling, testing, packaging and labelling. Proposed cultural cooperation would promote professional exchanges, heritage conservation and institutional linkages.
August 24, 2026
Show AI Summary
Foreign-exchange market conditions pressured the rupee as dollar strength, crude concerns and geopolitical uncertainty shaped narrow USD/INR trading.
Foreign-exchange market conditions led the rupee to close marginally lower against the US dollar after reversing initial gains. The USD/INR pair traded within a narrow range amid a stronger dollar index, weak domestic equity markets, importer demand, crude-oil concerns and geopolitical uncertainty. Market commentary indicated a slight negative bias for the rupee, although possible US-dollar weakness could provide support at lower levels. India's foreign-exchange reserves increased during the referenced reporting week.
August 24, 2026
Show AI Summary
Branch expansion for wealth and cross-border banking services targets emerging commercial centres and affluent customer segments across India.
HSBC India's branch expansion is directed at extending wealth, international banking, and corporate banking services to affluent, high-net-worth, ultra-high-net-worth, and non-resident Indian customers in emerging commercial centres. The Nashik opening forms part of a broader branch-expansion programme undertaken after Reserve Bank of India approval to establish additional branches in key cities. The programme is intended to expand delivery of banking and financial services, including support for cross-border wealth management, overseas investment by Indian companies, and foreign investment into India.
August 24, 2026
Show AI Summary
Bilateral trade and investment cooperation advances through business engagement in high-technology manufacturing, clean energy, innovation and industrial collaboration.
India's commerce and industry engagement with Japan is structured around a business delegation visit to deepen bilateral trade, investment, technology and industrial collaboration. Sector-focused discussions cover semiconductors, artificial intelligence, start-ups, automotive manufacturing, steel, electronics, industrial and consumer markets. Business roadshows and investor interactions are directed at presenting opportunities in India's manufacturing, clean-energy and consumer sectors, while advancing cooperation in high-technology manufacturing and next-generation industries.
August 24, 2026
Show AI Summary
Inter-state heroin trafficking enforcement uncovered concealed narcotics in transport vehicles, triggering arrests, confiscation, and continuing supply-chain investigations.
Operation Black Hawk targeted an alleged inter-state heroin trafficking network moving crude heroin from the North-East region towards Uttar Pradesh. Intelligence-led vehicle tracking and highway interceptions resulted in the seizure of over 18.6 kg of crude heroin and the arrest of three suspected network members under the Narcotic Drugs and Psychotropic Substances Act, 1985. The narcotics were detected in specially fabricated concealed compartments within a passenger vehicle fuel tank and a heavy commercial vehicle body frame. Both vehicles and the contraband were confiscated, while financial and logistical investigations continue into suppliers and distribution channels.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Showing Results for : Reset Filters

18 Proposals of Foreign Direct Investment Amounting to 2126.20 Crore Approved

November 25, 2011

Contents
Summary
Note

Note

-

Bookmark

Print

Print

Press Information Bureau
Government of India
Ministry of Finance

25-November-2011 19:01 IST

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on November 15, 2011, Government has approved 18 Proposals of Foreign Direct Investment amounting to ` 2126.20 crore approximately. 

In addition, one proposal viz (i) M/s Unitech Wireless (TN) Pvt. Ltd., amounting to ` 8250 crore, has been recommended for consideration of Cabinet Committee on Economic Affairs.

Following are the Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 15.11.2011   

Following 18 (Eighteen) proposals have been approved.

Sl.No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows (in crore)

CORPORATE AFFAIRS

1

M/s Amar Remedies Ltd., Mumbai

To issue secured redeemable non-convertible debentures along with warrants to undertake the business of manufacturing and marketing of personal care and OTC products.

170.00

ECONOMIC AFFAIRS

2

M/s VNR Infrastructures Limited, Hyderabad

Ex-post-facto approval for transfer of shares by way of share swap.  The company is engaged in the business of infrastructure contracting activities.

No Fresh Inflow

3

M/s NJS Engineers India Pvt. Ltd., Pune

Ex-post-facto approval for transfer of shares held by NRI on non-repatriation basis to a person resident outside India on a repatriation basis.  The company is engaged in the business of Construction Development projects, including housing, commercial premises, resorts, educational institutions.

0.01

4

M/s Oxygen Bio Research Pvt. Ltd.

Ex-post-facto approval for transfer of non-repatriable shares held by the NRIs to a foreign company.  The company is engaged in medical research and specializing in drug discovery to find cures in various ailments such as cancer, heart diseases, etc.

Nil

5

M/s Lanco Group Ltd.

Transfer of shares under the scheme of demerger.  The company is engaged in the business of supplying products and material on turnkey basis and project management consultancy services with respect to various infrastructure projects. In addition, the Indian company has downstream investments in various companies engaged in infrastructure related sectors such as power generation, coal mining for captive consumption, etc.

Nil

FINANCIAL SERVICES

6

M/s Grameen Financial Services Pvt. Ltd., Bangalore

Ex-post-facto approval for issuance of equity shares to the investor in lieu of dividend payout to the investor to carry out the business of providing credit/financing.

2.59

INFORMATION TECHNOLOGY

7

M/s SDG Software India Pvt. Ltd., Delhi

Ex-post facto approval for the allotment of partly paid up shares which were later made fully paid up within two month.  The company is engaged in the business of Software Development and Support Services.

3.00

STEEL

8

M/s Stewart and Lloyds of India Ltd., Kolkata

To issue warrants to carry out the business of manufacturing of Fabricated Structural Products of Iron ore and Steel and Construction and maintenance of Power Plants.

0.37

9

M/s Thomas Lipinski, Mr. Enrico Borgwardt, Germany and Mr. Shekhar Khanderao Bhagwat, Mumbai

To set up a LLP with foreign equity of 98 per cent to undertake the business of manufacturing of fabricated structural metal products.

0.98

REVENUE

10

M/s DFASS TRGB LLC, USA

Induction of foreign equity in an Indian company to carry out the business of setting up, running and maintenance of duty free shops & outlets at airport and other places outside the customs territory of India or any other place in India as may be permitted.

12.5

11

M/s In Flight Services Worldwide LLC, USA

Induction of foreign equity in an Indian company to carry out the business of retail sale of duty free goods on international flights.

0.50

COMMERCE

12

M/s Multi Commodity Exchange of India Ltd.

Sale of equity shares through an Initial Public Offering to the prospective purchasers which may be (i) resident Indian nationals, and (ii) SEBI registered FII’s.  The company is engaged in the business of trading in commodities.

 

INFORMATION & BROADCASTING

13

M/s NDTV Lifestyle Ltd.

Increase in foreign equity upto 100 percent.  The company is engaged in the media industry for up-linking, producing, distributing and broadcasting non-news and non- current affairs TV channels.

Nil

14

M/s Dish TV India Ltd.

To increase foreign equity to produce telecommunication equipment and provide management and marketing of ‘agrani’ services, i.e. in the area of Mobile Satellite Communications.

980.00

CONSUMER AFFAIRS

15

M/s Jindal Agro Processing Pvt. Ltd., Gujarat

Transfer of shares by way of share swap.  The company is engaged in the business of manufacture and export of ready to eat food.

Nil

TELECOMMUNICATIONS

16

M/s Sprint International Holding Inc., Overland Park K.S

Induction of foreign equity into an Indian company to provide wireline-based national long distance, international long distance and Internet services as well as advanced managed network services to companies operating in India.

6.25

INFORMATION & BROADCASTING

17

M/s Cyquator Media Services Pvt. Ltd., Mumbai

Scheme of merger relating to company engaged in the business of providing back-end information technology services and sale of advertisement space in various modes of media.

Nil

ECONOMIC AFFAIRS

18

M/s Ventureast Life Fund III LLC, Mauritius

Induction of foreign equity in a trust.

950.00

 

 The following 16 (Sixteen) proposals have been deferred:

Sl.No

Name of the applicant

Particulars of the proposal

1

M/s Unifior Vegetables LLP, Mumbai

Induction of foreign equity in LLP to carry out the business of Food Processing.

2

M/s Jalgaon Investments Pvt. Ltd., Mumbai

Ex-post-facto approval to act as an operating cum investing company.

3

M/s CLSA Singapore Holdings Pte Ltd., Singapore/ M/s CLSA Limited, Hong Kong

Induction of foreign equity in an investing company to carry on the business of process outsourcing services for clients, both domestic and offshore.

4

M/s Religare Capital Markets (India) Ltd., Delhi

Induction of foreign equity in an investing company.

5

M/s Copper Beech Infrastructure Pvt. Ltd., Delhi

Repatriation of FDI.  The company is engaged in the business of educational infrastructure.

6

M/s Bossi Moda India Pvt. Ltd., Delhi

Ex-post-facto approval to issue and allot equity shares against the pre-incorporation expenses. The company is engaged in the manufacturing of leather footwear as a small scale industries.

7

M/s Surya Chambal Power Ltd., Mumbai

Ex-post-facto approval for issue of equity shares against sale of future carbon credits.  The company is engaged in the business of Generation of power from agro waste residue biomass.

8

M/s M and C Rakindo Hospitality Pvt. Ltd., Coimbatore

Ex-post-facto approval to issue and allot partly paid up shares to carry out the business of development, construction ownership, management, sale and/ or lease of hotel projects in India.

9

M/s Omnimedia SL

To amend the Clause 2 of the FC approval to undertake the business of publishing/ printing of scientific and technical magazines/ specialty journals/ periodicals in the name and style of “Energetica-India” and circulation of its digital version.

10

M/s Rahimafrooz Batteries Ltd., Bangladesh

To set up a WOS to undertake import and wholesale distribution of batteries and providing after sales services in India by a company from Bangladesh.

11

M/s Flemingo Dutyfree Shop Pvt. Ltd.

To increase foreign equity upto 100% to carry out the business of duty free shop.

12

M/s Springer India Pvt. Ltd.

To increase foreign equity upto 100% to carry out the business of publishing and re-printing of scientific, technical, medical and other no-fiction books in electronic and printed forms in any language.

13

M/s Springer Editorial Services Pvt. Ltd.

To increase foreign equity upto 100% to carry on the business of  publishing services, content, development, content management, content outsourcing, providing a comprehensive service including data conversion, editorial services, pre-press, pre-media services, digital communication services, data based management, digitization services, data based engineering

14

M/s Reed Elsevier India Pvt. Ltd.

To undertake the additional activity relating to the business of publishing and co-publishing (in and outside India), including digital publishing, printing, reprinting, adaptation, article reprinting, repackaging, translation, distribution of scientific, technical, medical, specialty and research journals/magazines/periodicals in any media including print media

15

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.

 The following 11 (Eleven) proposals have been rejected:

Sl.No

Name of the applicant

Particulars of the proposal

1

M/s Bharti Shipyard Ltd., Mumbai

To undertake additional activities of Defence Production.

2

M/s KSPG Automotive India Pvt. Ltd., Pune

To jointly hold with KOEL one preference share of KPL, which is not fully, compulsorily and mandatorily convertible.

3

M/s Astonfield Renewables Pvt. Ltd.

Ex-post-facto approval for the downstream investments made and to act as operating cum investing company.  The company is engaged in the business of providing consultancy services and marketing research.

4

M/s Techno Relief Overseas (India) Pvt. Ltd.

Ex-post-facto approval for NRI investment in the company.  The company is engaged in the business of trading (export and domestic wholesale) in relief materials.

5

M/s Summit Partners OGN (Luxco) S.C.A, Grand Duchy Luxembourg

Transfer of shares by way of share swap to carry out the business of providing Technical Interface/Platform between Merchants and multiple Banks.

6

M/s Munoth G’Five Telecom, Chennai

Induction of foreign equity to carry out the business of whole sale distribution of mobile phones, laptops, pads and value added service for mobile phones.

7

M/s Axiata Investments 2 (India) Ltd., Mauritius

Induction of foreign equity in an Indian company engaged in the business of Telecom Service Provider.

8

M/s Amann Sewing & Embroidery Threads Pvt. Ltd.

Extension of period of test-marketing.  The company is engaged in the business of Import of Sewing Threads and to sell the same to domestic end users (Test marketing).

9

M/s Indusind Media & Communication Ltd. (IMCL)

Conversion of CNCRPS.  The company is engaged in the business of Cable Network Distribution.

10

M/s I-Velocity India Pvt. Ltd. 

To make an amendment in clause 2 of existing FC approval to allow for undertaking additional activities.

11

M/s Befesa Infrastructure India Pvt. Ltd.

Ex-post-facto approval for capitalization of ` 10.00 lakh towards issue of 10,000 equity shares against the investment made by Befesa Agua SA Spain.

Construction, erection and installation of desalination plants.

The following 2 (Two) proposals have been withdrawn from the agenda:    

Sl.No

Name of the applicant

1

M/s Ventureast Trustee Co Pvt. Ltd. (No. FC.II: 160/2007)

2

M/s Karuturi Global Ltd., Bangalore

 The following 01 (One) proposal has been recommended for the consideration of CCEA, as the investment involved in the proposal is above ` 1200.00 crore:   

Sl. No

Name of the applicant

Particulars of the proposal

FDI/NRI inflows (in Crore)

1

M/s Unitech Wireless (TN) Pvt. Ltd.

Induction of foreign equity to carry out the business of providing unified access services.

8250.00

The following 01 (One) proposal has been recommended for the consideration on file after the receipt of inputs from concerned departments:

Sl. No

Name of the applicant

Particulars of the proposal

FDI/NRI inflows (in Crore)

1

M/s Vodafone Essar Ltd.

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

2835.00

DSM/GN

Topics

Acts Income Tax