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
    Fourth Session of the India-Namibia Joint Trade Committee held in New Delhi
    Winning in the AI Era: The New Playbook for Indian Banks - Inaugural Address by Shri Sanjay Malhotra, Governor, Reserve Bank of India at the FIBAC 202...
    Assam Cabinet okays funds for land acquisition for Guwahati satellite city
    ED arrests Chhattisgarh Congress leader in liquor 'scam' case; sent to 7 days' custody
    Sales Tax Assistant Commissioner arrested for demanding bribe of Rs 8 lakh
    Net direct tax kitty grows 23 pc to Rs 8.11 lakh cr on slower refunds, higher non-corp taxes
    Delhi court sets aside summon order in cheque bounce case
    BRICS grouping discussing linking CBDCs, fast payment systems: RBI Guv Malhotra
    PM GatiShakti National Master Plan Enables Integrated and Coordinated Infrastructure Planning
    GeM Strengthens Participation of MSMEs, Startups, Women Entrepreneurs and SHGs
    Net direct tax collection grows 23 pc to Rs 8.11 lakh cr so far this fiscal
    National Accreditation Board for Testing and Calibration Laboratories Launches India’s First Accreditation Scheme for Mobile Food Testing Laboratori...
    Commerce and Industry Minister Shri Piyush Goyal awards top buyers and sellers on GEM platform at the 10th Anniversary celebrations of GEM
    PolicyBazaar working with partners to fast-track Assam flood insurance claims
    ED arrests Chhattisgarh Congress leader in liquor 'scam' case
    ED arrests Chhattisgarh Congress leader in liquor scam case
    Register FIR in cases of missing persons immediately, irrespective of age or gender: SC
    ED freezes 182 bank accounts, seizes Rs 1 cr cash in connection to Rs 2k crore chit-fund scam
    Rupee falls 8 paise to 95.38 against US dollar in early trade
    Punjab Assembly passes nine key bills
❯❯
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 12, 2026
Show AI Summary
Bilateral trade cooperation advances through investment focal points, services and health working groups, and planned preferential trade agreement negotiations.
India-Namibia economic cooperation is being progressed through agreed follow-up mechanisms focused on value addition, investment facilitation and sectoral collaboration. Investment focal points have been designated, and a Services Working Group is to prepare a work plan for the Joint Trade Committee. Priority areas include health and pharmaceuticals, critical-mineral processing, gems and jewellery, digital payments, FinTech, railways, renewable energy and green hydrogen. Terms of Reference for the India-SACU preferential trade agreement were finalised, with negotiations to begin after signature and conclude within one year.
August 12, 2026
Show AI Summary
AI governance in banking requires explainability, board accountability, rigorous testing, vendor controls and meaningful human oversight for customer-facing decisions.
AI adoption in banking should be governed through a principles-based and proportionate framework that aligns innovation with financial stability, customer protection and accountability. Banks should maintain inventories of AI systems, adopt board-approved governance policies, ensure explainability for material lending and fraud decisions, conduct periodic red-teaming and stress testing, and preserve meaningful human oversight. Key risks include opacity, bias, vendor concentration, third-party dependence, data misuse, cyber vulnerability and loss of institutional accountability. Vendor arrangements require audit and explanation rights and credible exit plans.
August 11, 2026
Show AI Summary
Land acquisition funding and regulatory approvals advance satellite-city development, tax relief, identity enrolment, employment verification, and jail reform.
Assam Cabinet approvals include first-phase funding for land acquisition and development of the Aerotropolis Satellite City Project and a lease deed for a hotel supporting the Jagiroad semiconductor ecosystem. Measures also provide Aadhaar enrolment relaxation for Moran and Matak communities, zero agricultural tax up to the prescribed net-income threshold, OBC Non-Creamy Layer certificates, and trainee and graduate-assistance funding. Government jobs will be provisionally held pending police verification, with automatic confirmation where no report is submitted within six months. Jail rules will be amended to promote non-discrimination, sanitation, security and fair work allocation.
August 11, 2026
Show AI Summary
Money-laundering investigation into alleged liquor-sale proceeds led to arrest and custodial questioning amid contested political allegations.
Money-laundering investigation concerning an alleged liquor scam led to the Enforcement Directorate's arrest of Ramgopal Agrawal and seven days' custodial remand under the Prevention of Money Laundering Act. The agency alleged his connection with proceeds of crime, non-attendance despite multiple summonses, and evasiveness during questioning. Allegations concern purported control of the state excise department, illegal liquor sales, and sharing of commissions. The Congress has denied the allegations and described the investigation as politically motivated.
August 11, 2026
Show AI Summary
GST inquiry closure bribery allegations prompted anti-corruption proceedings against a Sales Tax officer under corruption law.
Alleged bribery in GST inquiry closure led to the arrest of a Sales Tax Assistant Commissioner after a scrap trader complained of a demand for illegal gratification to close an inquiry initiated through a GST show-cause notice. Anti-corruption officials reportedly verified the allegation through intermediaries, during which the officer allegedly agreed to accept payment for closing the matter. A criminal case was registered under the Prevention of Corruption Act, with further investigation ongoing.
August 11, 2026
Show AI Summary
Direct tax collection growth reflected stronger non-corporate taxes and securities transaction tax receipts alongside slower refund issuances.
Net direct tax collections increased by 23 per cent to over Rs 8.11 lakh crore through August 10, driven by higher non-corporate tax collections and slower refund growth. Gross direct tax collections grew by 19.75 per cent to about Rs 9.55 lakh crore. Net corporate tax collections rose about 20 per cent, net non-corporate tax collections rose 23 per cent, and Securities Transaction Tax collections increased 51 per cent. Refund issuances grew by 3.8 per cent year-on-year.
August 11, 2026
Show AI Summary
Vicarious liability in cheque dishonour cases cannot attach to trust associates without statutory status or transaction-specific involvement.
Vicarious criminal liability for cheque dishonour under section 141 of the Negotiable Instruments Act does not extend to a trust, because a trust is not a juristic person. A person cannot be summoned merely for alleged active involvement in a trust where the person was neither drawer nor signatory of the cheques, trustee, office-bearer, authorised account operator, guarantor, or executor of transaction documents.
August 11, 2026
Show AI Summary
Cross-border payment integration through CBDCs and fast payment systems remains under BRICS discussion to reduce transfer costs.
Cross-border payment integration is under discussion through potential linkages between central bank digital currencies and fast payment systems, including UPI-type platforms. These approaches seek faster and less costly trade and remittance transfers, particularly retail payments, but remain at a discussion stage. Rupee internationalisation is also being pursued through central-bank memorandums of understanding for bilateral trade settlement in local currencies, with existing arrangements covering Indonesia, Maldives, Mauritius and the UAE.
August 11, 2026
Show AI Summary
Integrated infrastructure planning under PM GatiShakti coordinates project evaluation, multimodal connectivity, geospatial data use, and decentralized implementation.
PM GatiShakti National Master Plan provides an integrated, data-driven infrastructure planning framework using geospatial data, satellite imagery and API integration. Project approval, implementation and funding remain with the respective Central Ministries, Departments and States or Union Territories under their own plans and budgetary provisions; the framework sets no separate budgetary allocation or quantified targets. The Network Planning Group evaluates critical Central Government projects at the planning stage for multimodality, synchronisation, last-mile connectivity, comprehensive local development and coordinated decision-making.
August 11, 2026
Show AI Summary
MSME procurement through GeM has expanded alongside analytics-driven controls against suspicious bidding, collusion, and vendor misconduct.
GeM uses AI/ML analytics to detect order splitting, suspicious bidding, abnormal pricing, repeated participation and potential buyer-seller collusion. Flagged cases are placed before buyer organisations for review and action, while suspected cartels are assessed through digital-footprint, pricing and bid-timing indicators. Its Incident Management framework addresses false documents, fraud, collusive behaviour and other misconduct through administrative measures, including suspension. Anti-competitive conduct and cartel formation are Severe/Grave deviations, with proven cases attracting suspension for up to 365 days.
August 11, 2026
Show AI Summary
Direct tax collections show stronger corporate, non-corporate and securities transaction tax receipts, alongside increased refunds during the fiscal period.
Net direct tax collections grew by 23.09 per cent to over Rs 8.11 lakh crore up to August 10 of the current fiscal year, while gross direct tax collections increased by 19.75 per cent to about Rs 9.55 lakh crore. Corporate tax, non-corporate tax including personal income tax, and Securities Transaction Tax receipts recorded growth. Refunds issued between April 1 and August 10 also rose over the corresponding earlier period. Direct tax collections are budgeted at Rs 26.97 lakh crore for the fiscal year.
August 11, 2026
Show AI Summary
Mobile food testing laboratory accreditation expands quality-assured testing access and supports coordinated food-safety surveillance and regulatory efficiency.
NABL has launched an Accreditation Scheme for Mobile Food Testing Laboratories under the Integrated Assessment Programme. The framework enables mobile laboratories to provide reliable, quality-assured and internationally benchmarked food-testing services closer to communities, extending accredited testing beyond conventional laboratory settings. It is intended to strengthen food-safety surveillance, improve access to quality testing, support faster regulatory intervention and enhance consumer confidence. Coordinated assessments, regulatory harmonisation and mutual recognition are also intended to reduce duplication and improve regulatory efficiency while maintaining quality and compliance standards.
August 11, 2026
Show AI Summary
Digital public procurement will expand AI-led price intelligence, marketplace integrity, inclusive access, credit linkages and sustainable purchasing.
Government e-Marketplace is advancing an AI-enabled public procurement ecosystem focused on efficiency, transparency, competition, price intelligence and marketplace integrity. Priorities include last-mile access through Suvidha Kendras, integration of public entities, credit linkages, sustainable procurement and university outreach. A nationwide five-digit Helpdesk short code, 14550, mapped to existing infrastructure, is intended to maintain service continuity and improve access to support and official communications. The platform seeks to provide enterprises with a more accessible and predictable procurement market and buyers with a data-driven procurement experience.
August 11, 2026
Show AI Summary
Expedited flood insurance claims require insurers and partners to simplify documentation and provide immediate service to affected policyholders.
Expedited insurance-claim handling for flood-affected policyholders in Assam is being pursued through simplified documentation, prompt settlement and immediate service response. PolicyBazaar is coordinating with insurer partners to reduce processing delays. The Insurance Regulatory and Development Authority of India has directed insurers, including life insurers and standalone health insurers, to mobilise resources for immediate assistance, alongside governmental efforts for expeditious and hassle-free claim disposal.
August 11, 2026
Show AI Summary
Money laundering investigation in alleged liquor scam leads to arrest and proposed custodial-remand proceedings under anti-money-laundering law.
Money laundering investigation concerning an alleged liquor scam in Chhattisgarh led to the arrest of Congress leader Ramgopal Agrawal under the Prevention of Money Laundering Act. Custodial remand is to be sought for interrogation. The allegations concern an alleged syndicate that purportedly controlled the state excise department, enabled illegal liquor sales and distributed resulting commissions. Chargesheets name political figures, excise officials and officials associated with the Chief Minister's Office.
August 11, 2026
Show AI Summary
Money-laundering investigation into an alleged liquor scam leads to arrest and proposed custodial interrogation under the prevention law.
Money-laundering investigation under the Prevention of Money Laundering Act concerns an alleged liquor scam in Chhattisgarh. A former state political party treasurer has been arrested for alleged involvement and is to be produced before a local court for a request for custodial interrogation. The alleged scheme is stated to have involved control of the state excise department by a criminal syndicate, with multiple accused named in six chargesheets.
August 11, 2026
Show AI Summary
Immediate FIR registration for every missing person is mandatory, with missing children treated as suspected kidnapping or abduction cases.
Immediate FIR registration is required whenever information is received that any person is missing, irrespective of age or gender, without preliminary inquiry. Missing-person FIRs must include relevant provisions concerning kidnapping and trafficking. A missing child must be treated from the outset as a suspected case of kidnapping or abduction. States and Union Territories may face contempt action for non-compliance. Traced children should ordinarily be restored to their families within 24 hours unless trafficking or exploitation by the family is suspected.
August 11, 2026
Show AI Summary
Money-laundering investigation targets alleged chit-fund collections, investor-fund diversion, concealed deposits, and irregular land transactions.
Money-laundering investigation into an alleged multi-state chit-fund scheme involved searches at premises linked to Wellfare Buildings and Estates Pvt Ltd and its directors, seizure of cash, vehicles, property-related records and digital devices, and freezing of bank accounts. The alleged scheme concerns unauthorised public-fund collection through land-allotment schemes, followed by closure of operations. Allegations include diversion of investor funds, manipulation of financial statements to conceal deposits, and irregular land transactions intended to suppress actual consideration and evade statutory obligations.
August 11, 2026
Show AI Summary
Rupee exchange-rate pressure intensified as crude oil, regional uncertainty and weaker equities constrained the local currency in early trade.
Foreign-exchange market conditions placed the rupee under pressure against the US dollar amid West Asia uncertainty, higher crude oil prices, and weaker domestic equity markets. Foreign institutional investor inflows and Reserve Bank of India intervention supported the rupee and limited further depreciation. Reported dollar sales through state-run banks helped contain downside pressure despite rising Brent crude prices and uncertainty concerning the Strait of Hormuz.
August 10, 2026
Show AI Summary
GST refund facilitation expands provisional input tax credit refunds and removes the minimum threshold for export-related IGST refunds.
Punjab's GST amendments facilitate voluntary compliance and reduce procedural burdens by allowing a 90 per cent provisional input tax credit refund in inverted duty structure cases and removing the minimum threshold for IGST refunds on exported goods. Additional measures cap annual fee increases by private unaided educational institutions, establish digital open universities for technology-enabled higher education, protect trees and green cover, and address common infrastructure, panchayati raj, and contractual engagement of outsourced State personnel.

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