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
    Strengthening Collaboration to Preserve Sovereignty: Collaborative Cash Ecosystems - Global Strategies to Preserve Trust and Sovereignty - Keynote Add...
    SC asks CBI to examine all six allegations of dubious transactions involving Indiabulls
    Cyber fraudsters invent 'boss' scam to target companies; Ahmedabad cops bust international network
    Personal Loan Prepayment Charges: What RBI Rules Say in 2026
    Zeeba Revamps Packaging and Announces Chef Vikas Khanna as Its Global Brand Ambassador
    Paul Merchants Finance Launches Loan Against Silver, Becomes India’s First NBFC to Set Up Exclusive Silver Loan Branches
    CarePass Launches This Independence Day, Bringing Healthcare Savings Across India's Top and Premium Hospitals
    Keralam CM flags off containers from Vizhinjam, marking start of EXIM operations
    Kerala: Fresh ED raids in CMRL-Exalogic Solutions case
    ED raids KPSC office, ex-chairman in veterinary officers hiring 'scam' case
    Keralam CM reviews operational preparedness at Vizhinjam port
    Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman chairs 3rd Meeting of Apex Monitoring Authority of NICDIT and reviews the pro...
    NBCC moves SC for RERA exemptions to complete 16 stalled Supertech projects
    DFS Hosts PSB Confluence 2026: Day 1 Deliberations focus on Four themes- Deposit Mobilisation, Banking for Youth, Supporting the Investment Cycle and ...
    Govt to soon announce high-level panel on 'Banking for Viksit Bharat': FM
    Rupee falls 19 paise to close at 95.61 against US dollar
    Govt to soon announce high-level panel on 'Banking for Viksit Bharat'
    Union Minister of Finance and Corporate Affairs interacts with interns from PM Internship Scheme in New Delhi
    DRI uncovers large-scale illegal use of SAFTA agreement in areca imports
    Rupee falls 17 paise to 95.59 against US dollar in early trade
❯❯
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 18, 2026
Show AI Summary
Currency management preserves monetary sovereignty through clean notes, secure logistics, decentralised distribution, durable banknotes, and sustainable cash-cycle operations.
Currency management supports trust in cash and monetary sovereignty through demand planning, secure production, distribution, replacement, and disposal. The Clean Note Policy requires good-quality banknotes to be available in required denominations and locations, with unfit notes continuously withdrawn and replaced. A decentralised Currency Chest network distributes fresh currency, processes returned notes, supports linked bank branches, and operates under licensing, real-time reporting, inspection, and audit requirements. Current priorities include managing uncertain cash demand, improving note durability, and reducing the carbon footprint of the cash cycle.
August 18, 2026
Show AI Summary
Independent investigation of alleged dubious transactions requires examination of all six allegations despite prior police conclusions.
Investigation into alleged dubious transactions involving Indiabulls Housing Finance Limited and related entities must cover all six allegations identified by the Enforcement Directorate. The CBI must independently examine five allegations previously reviewed by the Delhi Police Economic Offence Wing, irrespective of its conclusion, and submit a comprehensive report. Further investigation into the sixth allegation depends on the special PMLA court deciding the CBI's pending application, after which the CBI must provide a progress or status report.
August 18, 2026
Show AI Summary
Boss scam prevention requires independent verification of payment requests and avoidance of malicious WhatsApp attachments that enable executive impersonation.
Boss scam, or CEO impersonation fraud, uses malicious WhatsApp attachments and impersonation of regulatory officials or company executives to obtain control of WhatsApp sessions and issue fraudulent payment instructions. The alleged network supplied SIM cards, dummy SIMs, WhatsApp accounts and one-time passwords to cyber-fraud operators, illustrating a Cybercrime as a Service model. Preventive measures include avoiding suspicious ZIP, executable, library and APK files and independently verifying all financial-transfer requests.
August 18, 2026
Show AI Summary
Floating-rate personal loan prepayment protections prohibit charges and compulsory lock-ins for qualifying individual non-business borrowers from 2026.
Prepayment charges are prohibited for part or full repayment of qualifying floating-rate loans availed by individual borrowers for non-business purposes and sanctioned or renewed on or after 1 January 2026. Compulsory lock-in periods cannot restrict prepayment of such loans. Fixed-rate personal loans may still attract prepayment or foreclosure charges under lender policy and contractual terms. Borrowers should check the loan's rate type, sanction letter, loan agreement and key fact statement, where applicable, and compare applicable charges with potential interest savings before early repayment.
August 18, 2026
Show AI Summary
Premium Basmati rice positioning drives Zeeba's packaging refresh and ambassador-led campaign focused on quality, authenticity and domestic expansion.
Zeeba has refreshed its packaging and appointed Chef Vikas Khanna as global brand ambassador to support expansion in India. Its "Aisa Basmati Nahi Dekha" campaign positions the brand around export-quality Basmati rice, consistency, authenticity and a superior culinary experience. Promotional activity will extend across digital, retail and consumer touchpoints. The premium Basmati range is described as carefully sourced, naturally aged and processed according to global quality standards, with emphasis on grain quality, authentic taste, purity and consistency.
August 18, 2026
Show AI Summary
Silver-collateral lending creates a formal secured-credit channel for eligible borrowers, subject to regulatory requirements and lender policies.
Loans against silver collateral have been introduced following the Reserve Bank of India's Lending Against Gold and Silver Collateral Directions, 2025, enabling eligible regulated lenders to accept silver as security. The offering provides a formal and transparent credit channel against eligible silver jewellery, ornaments and approved silver coins. It is intended for individuals, proprietors and MSMEs requiring liquidity for personal, business and other legitimate financial needs, subject to lending policies and applicable regulatory requirements.
August 18, 2026
Show AI Summary
Healthcare discount membership provides instant savings on out-of-pocket care at participating premium providers without insurance claims or paperwork.
CarePass is a healthcare savings membership card providing instant point-of-billing discounts at participating premium healthcare providers across India. It covers out-of-pocket spending on hospital treatment, diagnostics, dental, vision, dermatology, hair and skin care, and IVF and maternity services, without claim processing, waiting periods or paperwork. Members present a digital CarePass at a participating provider to receive the applicable discount. Four membership tiers offer differing benefits, with higher tiers including tele-consultations and annual health checks. CarePass is a discount membership and not an insurance product.
August 18, 2026
Show AI Summary
EXIM operations at Vizhinjam commence with container movement, supported by investor facilitation, infrastructure backing and port-led logistics development.
EXIM operations at Vizhinjam international seaport commenced with the flagging off of two containers after a successful trial export shipment. The state government proposes investor engagement, regulatory facilitation and infrastructure support to expand global export activities through the port. Mission Samudra is to operate as a port-led industrial and logistics development scheme. The deep-water port was developed under a public-private partnership model and had received commercial commissioning certification.
August 18, 2026
Show AI Summary
Money-laundering investigation under PMLA expands through searches into alleged consultancy payments linked to CMRL and Exalogic Solutions.
Money-laundering investigation under the Prevention of Money Laundering Act involves fresh searches connected with Cochin Minerals and Rutile Ltd and Exalogic Solutions. The inquiry concerns alleged fraudulent payments made under the guise of IT consultancy services and a purported money trail involving persons allegedly connected with those transactions. The action follows earlier searches and questioning in relation to the same matter.
August 18, 2026
Show AI Summary
Recruitment examination irregularities trigger money-laundering investigation into alleged bribery, paper leaks, answer-sheet tampering, and preferential veterinary officer selections.
Money-laundering investigation under the Prevention of Money Laundering Act concerns alleged irregularities in veterinary officers' final selection through a public recruitment examination. Searches covered premises linked to commission officials, alleged intermediaries, the digital evaluation entity, and selected candidates. Allegations include bribery demands, examination-paper leakage, OMR answer-sheet tampering, and facilitation of selection for relatives of commission officials.
August 18, 2026
Show AI Summary
Export-import operations advance through operational preparedness review and planned port-led industrial and logistics development initiatives.
Operational preparedness for full land-based export-import operations at Vizhinjam Seaport was reviewed, including the Vehicle Traffic Management System. EXIM cargo operations follow a trial shipment of the port's first export container to Valencia. Mission Samudra is proposed to support port-led industrial and logistics development alongside these operations. The deep-water port was developed through a public-private partnership model and had obtained commercial commissioning certification before its dedication to the nation.
August 18, 2026
Show AI Summary
Industrial corridor development prioritises empowered SPVs, integrated infrastructure and investor-ready parks to accelerate manufacturing investment and operations.
National Industrial Corridor Development Programme implementation prioritises timely infrastructure completion, land allotment, investment mobilisation and commencement of manufacturing. PM GatiShakti-aligned planning requires integrated connectivity, utilities and social infrastructure, while States should resolve land, clearance and SPV-power bottlenecks. BHAVYA proposes investment-ready, plug-and-play industrial parks appraised for ready land, credible demand, connectivity, utilities, realistic phasing and early investor attraction. NICDIT routes Government participation and equity support for BHAVYA project SPVs, and NICDC coordinates implementation and monitoring.
August 17, 2026
Show AI Summary
RERA compliance exemption for stalled housing projects raises whether statutory obligations may be waived to enable phased project completion.
RERA compliance exemption is sought for completion of 16 stalled residential projects by a public sector construction entity appointed under a project-completion arrangement. The appellate insolvency tribunal declined to direct a waiver, considering itself incompetent to exempt compliance with statutory provisions. The arrangement requires phased completion, award and commencement of construction work, and oversight through an apex committee and project-wise committees. The projects remain incomplete owing to the developer's financial crisis.
August 17, 2026
Show AI Summary
Deposit mobilisation and youth banking guide strategies for stronger public financial institutions, investment financing and Global Capability Centre opportunities.
PSB Confluence 2026 considers strategic priorities for Public Sector Banks and Public Financial Institutions across deposit mobilisation, banking for youth, investment-cycle financing and Global Capability Centres. Discussions seek practical, scalable strategies to strengthen customer engagement, youth-responsive banking propositions, institutional financing capabilities and participation in the expanding Global Capability Centre ecosystem. Youth engagement may use the MY Bharat platform to strengthen links with the formal financial system and awareness of education finance, entrepreneurship, internships and financial-sector careers. Further themes include value-chain infrastructure, priority sector lending and credit card business reform.
August 17, 2026
Show AI Summary
Banking-sector reform will guide lender capacity, financial stability, inclusion, consumer protection, deposit growth and responsible credit-card expansion.
Banking-sector reform is proposed through a high-level committee on Banking for Viksit Bharat to review the sector and align it with growth needs while safeguarding financial stability, financial inclusion and consumer protection. Key themes include deposit mobilisation, youth banking, investment support, global capability centres, value-chain infrastructure, credit cards and priority-sector lending. Public-sector banks are expected to improve competitiveness through technology, sectoral expertise, product adaptation and customer-focused deposit growth. Credit-card development must maintain responsible underwriting, customer protection and appropriate risk controls.
August 17, 2026
Show AI Summary
FCNR(B) concessional swap facility availability narrows to timely mobilised deposits amid rupee depreciation and foreign currency inflow concerns.
Foreign-exchange conditions reflected rupee depreciation amid weak domestic equity markets and higher crude oil prices. FCNR(B) concessional swap facility availability is confined to foreign currency deposits mobilised by banks within the revised cut-off period, replacing the previously longer mobilisation window. The facility is intended to encourage foreign currency inflows, while banks use the FCNR(B) scheme to mobilise foreign currency deposits through attractive interest rates.
August 17, 2026
Show AI Summary
Banking sector review panel will align future growth with financial stability, inclusion and consumer protection through government recommendations.
High Level Committee on Banking for Viksit Bharat is proposed to comprehensively review the banking sector and align it with India's next phase of growth. It is intended to safeguard financial stability, financial inclusion and consumer protection, while providing views and recommendations to the Government on banking-sector development and reform.
August 17, 2026
Show AI Summary
Prime Minister Internship Scheme enhances youth employability through paid industry exposure, cross-field learning, workplace readiness and potential full-time employment.
The Prime Minister Internship Scheme provides paid internships with leading companies across India to improve youth employability through practical workplace exposure, industry experience and skills development. It addresses the gap between classroom learning and employers' expectations of workplace readiness. Participation is not confined to academic qualifications, allowing youth to pursue fields of interest and gain hands-on professional learning. Strong internship performance may lead to full-time roles, while the scheme stresses responsible work where errors may affect quality, consumer safety and organisational reputation.
August 17, 2026
Show AI Summary
SAFTA origin fraud in areca imports allegedly enabled improper duty exemption through false Bangladeshi-origin declarations.
SAFTA preferential duty treatment for areca-nut imports was allegedly misused by falsely declaring goods originating in South-East Asian countries as Bangladeshi origin. Since areca nuts normally attract 100% basic customs duty, the scheme sought to obtain the full SAFTA exemption reserved for qualifying Bangladeshi goods meeting Rules of Origin requirements. The alleged mechanism included routing goods through Bangladesh, changing containers and bags, using improperly obtained Certificates of Origin, and facilitating clearance through importers, Customs Brokers and IEC holders. Investigative findings also indicated cash proceeds, hawala channels and dummy entities.
August 17, 2026
Show AI Summary
FCNR(B) concessional swap facility closure may reduce temporary foreign-currency inflow support and heighten rupee weakness concerns.
The Reserve Bank of India restricted its concessional swap facility for FCNR(B) deposits to deposits mobilised by August 31, advancing the earlier cut-off date. The facility was intended to encourage foreign-currency inflows, while banks mobilise such deposits through attractive interest rates. Market commentary indicated that existing inflows may support the rupee in the near term, but the curtailed availability of the facility could reduce this temporary cushion and increase depreciation risk.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Back

All News

Showing Results for : Reset Filters

25 FDI Proposals Amounting to Rs. 2973.40 Crore Approved.

May 29, 2012

Contents
Summary
Note

Note

-

Bookmark

Print

Print

Press Information Bureau
Government of India
Ministry of Finance

29-May-2012 16:52 IST

25 FDI Proposals Amounting to Rs. 2973.40 Crore Approved           

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on May 9, 2012, Government has approved 25 Proposals of Foreign Direct Investment amounting to Rs. 2973.40 crore approximately. 

                                                                                                                                                                                                                                                                                                                             

Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 09.05.2012        

            Following 25 (Twenty five) proposals have been approved.

 

Sl. No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows

(Rs. In crore)

CORPORATE AFFAIRS

1

Mr. Ranjit Shridhar  Shetty, Karnataka

To form an LLP with induction of foreign equity to undertake the whole sale trading, export and import of various products.

0.02

ECONOMIC AFFAIRS

2

M/s Mamta Vijay, Delhi

To form an LLP with induction of foreign equity to undertake the wholesale trading in high technology testing equipment and high precision calibration standards.

0.50

ELECTRONIC & INFORMATION TECHNOLOGY

3

M/s Ness Mauritius, Mauritius and M/s Ness Technologies (East) B.V., Netherlands

To form an LLP with induction of foreign equity to undertake the business of software development & IT enabled Services.

0.01

FINANCIAL SERVICES

4

M/s AIF III Sub Pvt. Ltd., Mauritius

Induction of foreign investment in the units of a Fund constituted as a Trust.

1000.00

HEALTH & FAMILY WELFARE

5

M/s Sun Pharma Research Company Limited, Mumbai

Induction of foreign equity by way of issue of partly paid up shares to carry out the development of new proprietary drugs.

10.00

HIGHER EDUCATION

6

M/s Bloomsbury India UK Limited, UK

Induction of foreign equity to carry out the business of publishing/printing of books on fiction and non-fiction, electronic publishing, wholesale & retail trading, periodicals books, academic, research and other journals and directories, etc.

9.38

INFORMATION & BROADCASTING

7

M/s NGC Network (India) Pvt. Ltd., Haryana

To undertake the activity relating to uplink and downlink of television channels for non-news and current affairs through internal accruals.

Nil

            8

M/s Health Media Publishing Private Ltd.

Induction of foreign equity to carry out the business of publishing magazines & periodical journals in the area of healthcare & overall wellness.

Nil

URBAN DEVELOPMENT

9

M/s Capitaretail Jalandhar Mall (Mauritius) Ltd., Mauritius

NR-NR transfer of shares of company is engaged in the business of construction and development of commercial malls in India on account of reorganisation of the foreign investor group companies within three years lock in period. 

117.00 (already brought)

10

M/s Goyal & Co. (Const.) Pvt. Ltd., Ahmedabad

Post facto approval for issuance of partly paid up shares to carry out the business of construction and development of land and construction of various Residential and Commercial Schemes.

3.45 (already brought)

HEALTH & FAMILY WELFARE

11

M/s Mozart Limited, Mauritius

Induction of foreign investment in the existing company in the pharmaceuticals sector (brownfield investments).

300.00

INDUSTRIAL POLICY & PROMOTION

12

M/s Genworth Financial Mortgage Guaranty India Pvt. Ltd.

Induction of additional foreign equity in company engaged in the business to offer mortgage guaranty products that provide residential mortgage credit default protection in the Indian market to residential mortgage lenders (primarily banks financial institutions).

124.00

13

M/s Euronet Services Pvt. Ltd.

Ex-post facto approval for the foreign investment made till date in the company and to cover the activity of ‘cashnet’, a shared ATM network.

Nil

14

M/s Allergan Health Care India Pvt. Ltd.

The Scheme of Amalgamation of company engaged in the pharmaceutical sector approved by the High Court of Karnataka. 

NA

INFORMATION & BROADCASTING

15

M/s Indusind Media & Communication Ltd.

Conversion of 7-year Cumulative Non-Convertible Redeemable Preference shares into equity to carry out the business of Cable Network Distribution.

Nil

CORPORATE AFFAIRS

16

M/s Ankur Drugs and Pharma Ltd., Mumbai

To issue warrants to carry out the business of manufacturing of pharmaceutical formulations.

40.00

 

EXTERNAL AFFAIRS

17

M/s Sunraj Diamond Exports Limited, Mumbai

Transfer of shares by way of share swap to carry out the business of cleaning, polishing and selling of Diamonds.

Nil

FINANCIAL SERVICES

18

M/s SNC-Lavalin Mauritius Limited, Mauritius

Induction of foreign equity in an investing company.

51.02

HEALTH & FAMILY WELFARE

19

M/s Plethico Pharmaceuticals Limited, Mumbai

Issue of foreign currency convertible bonds to carry out the business of drug discovery and development.

500.00

INFORMATION & BROADCASTING

20

M/s Catvision Limited, Noida

To increase foreign equity participation to carry out the business of manufacture of CATV equipment, selling CATV equipment like Dish Antenna, other CATV equipment, cables, energy management equipment and repair of apparatus for television transmission, other business services.

0.98

POSTS

21

M/s Kintetsu World Express (India) Pvt. Ltd., Karnataka

Induction of foreign equity to carry out the business of express distribution, supply chain and third party logistics services.

267.69

TELECOMMUNICATIONS

22

M/s Microqual Techno Ltd., Mumbai

Increase in foreign equity to carry out the business of wireless telecommunications.

522.90

URBAN DEVELOPMENT

23

M/s Nilayami Realtors Private Limited, Mumbai

Post-facto approval for issuance of partly paid up shares.

21.47  (already brought)

INDUSTRAIL POLICY & PROMOTION

24

M/s Hughes Communications India Ltd.

To make downstream investment to carry out the activity of rendering online and interactive skill development, vocational programmes and other training programmes.

No Inflow

REVENUE (CUSTOM)

25

M/s ISG Onboard Enterprises US Ltd., New York

To set up a WoS company for undertaking the activities of (i) sale of duty free goods to passengers on international flights of India bases airlines; and (ii) sale of duty free goods to India based airlines for onward sale to passengers by such India based airlines on international flights and related activities. 

5.00

            The following 13 (Thirteen) proposals have been deferred:

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Track Systems India Private Limited, Tamil Nadu

Induction of foreign equity to carry out the manufacturing, assembling, marketing, trading in defence sector

2

M/s Amertec Systems Pvt. Ltd., New Delhi

Induction of foreign equity to carry out the manufacturing of advanced electronic systems, test systems, simulators and electronic systems for military applications.

3

M/s Paragon Asset Reconstruction Pvt. Ltd., Mumbai

Induction of foreign equity to carry out the business of Asset Reconstruction.

4

M/s Stellence Pharmscience Pvt. Ltd., Bangalore

Induction of foreign equity by way of transfer and issue of equity shares and compulsory convertible preference shares to carry out the business of manufacture and sale of Active Pharmaceutical Ingredients and advanced intermediates.

5

M/s Fabindia Overseas Pvt. Ltd.

To change the permitted equity participation by the existing foreign investors within the approved equity holding of 51% and (ii) addition of product/product categories to the list of items approved for single brand retail trading.

6

M/s NCBG Holdings Inc (DCX Cable Assemblies Pvt. Ltd.

To undertake the additional activities in the defence sector.

7

M/s DEN Network Ltd.

Induction of foreign investment from unidentified investors.  The company is engaged in the business of cable distribution segment and internet services (NIC Code 750), (ii) and is acting as operating-cum-holding company.

8

M/s MF Global Sify Securities India Pvt. Ltd.

Increase in foreign equity participation to carry out the business of commodity broking and Stock broking.

9

M/s Tara Aerospace Systems Limited, Mumbai

To undertake additional activities of inter-alia  design, development, engineering, manufacturing, integration, assembly, testing and inspection of military aircrafts (rotor-crafts and fixed-wing aircrafts), including products such as aerospace and aero structures components, kits and accessories in the defence sector.

10

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.

11

M/s Ordain Health Care Global Pvt. Ltd., Chennai

Induction of foreign investment in an existing company engaged in the business of manufacturing, research & development for technology advancement, and marketing of pharmaceutical finished dosage formulations.

12

M/s Sutures India Private Limited, Bangalore

Induction of foreign investment in an existing company engaged in the business of manufacturing and export of sutures, surgical tapes, mesh bone wax, atraumatic needles, skin staplers and surgical gloves.

13

M/s Netmagic Solutions Pvt. Ltd.

Increase in foreign equity upto 74 percent and induction of a new foreign collaborator to undertake the business of Internet Service Provider with gateways. 

       

            The following 8 (Eight) proposal has been rejected:

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Budenheim India Private Limited, New Delhi

Ex-post facto approval for issue of equity shares against pre incorporation/pre-operating expenses.  The company is engaged in the business of sales coordination for the parent company and its group concerns and wholesale trading.

2

M/s Growing Opportunity Finance (India) Pvt. Ltd., Chennai

Extension of time to take steps to meet the minimum capitalisation norms as per the FDI policy in force in NBFC activities.

3

M/s Horst Pandey Art Resort LLP, Goa

Post facto approval for induction of foreign equity in an LLP to carry out the business of artistically designing, managing, furnishing, decoration of health resorts, holiday resorts, hotels motel, Bar & Restaurant.

4

M/s Hey House Publishers (I) Pvt. Ltd.

Deletion of compounding condition.

5

M/s Limitless World LLC

Repatriation of the original investment. The company is engaged in the business of construction and development of townships.

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 Deltronix India Limited

To allot equity shares in lieu of amount payable for powder coating plant and machinery to carry out the business of manufacture of transport equipment and parts.

8

M/s Putzmeister Concrete Machines Pvt. Ltd.

Capitalisation of import payables to carry out the business of manufacturing, marketing and sale of Putzmeister range of concrete pumps, other related products and rendering related after-sales services.

       

            The following 1 (One) proposal has been advised to access automatic route

Sl. No

Name of the applicant

Particulars of the proposal

FDI/NRI inflows

(Rs. in crore)

1

M/s Diners Club International Ltd., USA

To set up a WoS to carry out the business of providing support services to parent company which is engaged in operating a payment system.

0.12

            The following 02 (Two) proposals have been withdrawn from the Agenda:      

Sl. No

Name of the applicant

Particulars of the proposal

FDI/NRI inflows

(Rs. In Crore)

1

M/s Palred Media and Entertainment Pvt. Ltd., Hyderabad

Post facto approval for induction of foreign equity.  The company is engaged in the business of film production and distribution of films, cinemas, motion pictures, television entertainment, animation, internet portals etc.

1.91

2

M/s Apotex Research Pvt. Ltd.

Increase in foreign equity to undertake research and development focused on developing and producing carious types of dosage forms of Active Pharmaceuticals, sale and distribution of solid dose products and other products of the Apotex Group, compile the pharmaceuticals product dossier and coordinate bio-equivalence studies in India.

500.00

            The following 1 (One) proposal has been advised that FIPB approval is not required:

Sl. No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows

(Rs. in crore)

1

M/s Netenrich Technologies Pvt. Ltd.

For deletion of compounding condition on the ground that partly paid up shares are not proposed to be made fully paid up. 

Nil

            In the following 01 (One) proposal the Council of Architecture would be advised that FIPB approval prescribes that the agreement shall be subject to Indian Laws and action may be taken for violation of the provisions of Architects Act under the provisions of the said Act:

Sl. No.

Name of the applicant

Particulars of the proposal

1

Council of Architecture, New Delhi

To cancel FIPB approval to M/s RSP Architects & Engineers Pte Ltd., on the ground of alleged violation of provisions of Architects Act 1972.

 

*****

SS/GN

Topics

Acts Income Tax