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
    Kerala to stop welfare pension delivery through cooperative banks, shifts to DBT
    China's exports slow slightly in July despite robust demand for high-tech products
    India successfully concludes the Tenth BRICS Industry Ministers' Meeting in Jaipur under its BRICS Chairship 2026
    APEDA Organises BIOFACH INDIA 2026 to Promote India's Certified Organic Products and Expand Global Market Access
    RBI bars banks from disabling mobile devices of defaulting borrowers
    Par panel for early conclusion of India-US trade pact, tariff exemptions on key goods
    No commitments relating to ethanol import from US for fuel blending under FTA talks: Govt
    No concession or commitment on import of Ethanol for fuel blending from the United States
    Office of the Controller General of Patents, Designs and Trade Marks Announces Tentative Schedule for Patent and Trade Marks Agent Examinations 2027 a...
    RBI invites comments on the draft “Reserve Bank of India (Non-Banking Financial Companies – Credit Facilities) Amendment Directions, 2026”
    West Bengal seeks 100pc foodgrain, 40pc sugar jute packaging quota at SAC meeting
    RBI clasifies Tata Sons, 16 others as large NBFCs
    Sensex climbs 374 points on buying in Reliance, ICICI Bank; Nifty ends flat
    Insurance Division, DFS Secures 3rd Rank in Group A Category of Grievance Redressal Assessment & Index (GRAI) for June 2026
    VKDL Group’s NPA Bazaar Strengthens India’s Distressed Asset Resolution Ecosystem Under the Leadership of V K Dubey
    Lok Sabha passes bill to authorise govt to permit banks to levy charges on UPI transactions
    Monetary Policy Statement, 2026-27 Resolution of the Monetary Policy Committee August 3 to 5, 2026
    Stock markets edged higher in early trade amid lower crude oil prices, buying in Reliance Industries
    Monthly review of accounts of Government of India upto June 2026 (FY 2026-27)
    DRI busts illegal drug manufacturing unit in Satara district in Maharashtra; two arrested
❯❯
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 7, 2026
Show AI Summary
Direct Benefit Transfer for welfare pensions replaces doorstep cooperative-bank delivery, while home delivery remains for bedridden beneficiaries.
Direct Benefit Transfer of social security and welfare pensions is to be made mandatory through Aadhaar-linked bank accounts, replacing cooperative-bank doorstep distribution. Home delivery continues for completely bedridden beneficiaries and others who cannot be excluded. The change addresses delays in remitting undistributed amounts, record-update and reconciliation deficiencies, duplicate payments linked to incomplete Aadhaar-based payments, delivery incentive costs, and the need to comply with Direct Benefit Transfer norms to avoid loss of central financial assistance.
August 7, 2026
Show AI Summary
Customs trade data show moderating July growth while high-technology exports, vehicles and advanced manufacturing supplies remain strongly supported.
Customs and trade data showed that China's July export and import growth moderated and its trade surplus narrowed from the preceding month. Typhoon-related port disruptions affected trade flows, but demand for electronics and green technology products supported elevated values. High-technology items, vehicles, electronics and machinery recorded strong January-July export growth, while trade performance varied among the United States, the European Union and Southeast Asia.
August 7, 2026
Show AI Summary
BRICS industrial cooperation advances MSME, photovoltaic, startup and logistics frameworks alongside resilient trade and digital services collaboration.
BRICS industrial cooperation under PartNIR was strengthened through a Joint Declaration and institutional measures addressing MSMEs, photovoltaics, startup-led innovation, and resilient transport and logistics. The measures include an SME cooperation framework, Terms of Reference and an Action Plan for photovoltaic industry cooperation, and a startup innovation action plan. Trade discussions focused on the multilateral trading system, MSME participation in international trade, resilient global value chains, and cross-border digitally delivered services within a rules-based trading framework.
August 7, 2026
Show AI Summary
Certified organic export promotion: BIOFACH INDIA facilitates buyer-seller engagement, certification awareness, traceability discussions and international market access.
BIOFACH INDIA 2026 promotes certified organic exports by providing a platform for Indian organic enterprises to showcase diverse certified products and engage with overseas buyers through structured Buyer-Seller Meets. Technical sessions address organic certification, traceability, sustainability, quality standards, international regulatory requirements and export-market expectations. The initiative supports quality assurance, international market access, export linkages and sustainable agricultural practices across the organic value chain.
August 6, 2026
Show AI Summary
Device-based loan recovery restrictions protect essential mobile functions while permitting gradual locking only for lender-financed devices.
Technology-based recovery mechanisms cannot restrict or disable a borrower's mobile device unless the bank financed acquisition of that device. Where permitted, banks must adopt a gradual approach and preserve essential functions, including incoming calls, SMS access, and emergency SOS features. Regulated entities and service providers must obtain manufacturer or operating-system certification for device-locking technology. Disclosure of borrower or guarantor information to recovery personnel must be limited to what is necessary for loan-recovery duties.
August 6, 2026
Show AI Summary
Bilateral trade agreement negotiations should secure tariff certainty, protect key exports, strengthen supply chains, and support vulnerable small industries.
An early Bilateral Trade Agreement is proposed to protect Indian interests, secure tariff exemptions for key exports, reduce barriers affecting industrial products, and create predictable trade conditions. Recommended measures include financial and export-credit support for small industries, real-time monitoring of customs requirements, documentation assistance, and timely policy support against tariff and non-tariff barriers. Export strategy should develop knowledge services and critical supply-chain integration, while a National Fund should assist suppliers with redesign, tooling, certification and entry into new global supply chains.
August 6, 2026
Show AI Summary
Ethanol imports for fuel blending remain excluded from trade commitments, with domestic producers continuing to supply the blending programme.
Ethanol imports for fuel blending remain outside concessions or commitments in India-US trade discussions. Under the Ethanol Blended with Petrol Programme, ethanol procurement is governed solely by domestic policy requirements and is sourced entirely from domestic producers. Claims of existing or intended large-scale ethanol imports from the United States for fuel blending, or of a policy change permitting them, are stated to be baseless.
August 6, 2026
Show AI Summary
Domestic ethanol sourcing for fuel blending continues unchanged, with no import commitments or concessions involving United States ethanol.
Ethanol used for fuel blending under the Ethanol Blended with Petrol Programme is sourced entirely from domestic producers, with no imports from the United States for that purpose. No concessions or commitments on importing United States ethanol for fuel blending have been made in trade discussions. Fuel blending and ethanol procurement continue to be governed solely by domestic policy requirements, and claims of a policy change allowing large-scale imports are incorrect.
August 6, 2026
Show AI Summary
Patent and trade marks agent qualification examinations require written-paper minimums, aggregate passing scores, and viva voce assessment for registration.
Patent and trade marks agent examinations comprise an objective Paper I, a descriptive Paper II and a viva voce assessing suitability to practise before the Intellectual Property Office. Candidates must secure the stipulated minimum marks in each written paper and the required aggregate score to pass. Registration in the relevant Register of Patent Agents or Register of Trade Marks Agents is available only to candidates who satisfy all prescribed eligibility conditions and qualify the examination.
August 6, 2026
Show AI Summary
Draft NBFC credit-facilities amendments open for stakeholder consultation through designated online and email feedback channels.
Draft amendments to the Non-Banking Financial Companies credit-facilities framework have been released for public consultation. Regulated entities and other interested stakeholders may submit comments or feedback through the 'Connect 2 Regulate' platform or by email using the specified subject line.
August 6, 2026
Show AI Summary
Mandatory jute packaging reservations were urged to protect cultivators, mill workers, crop absorption, and environmentally sustainable packaging.
Mandatory jute packaging reservations were sought to be retained at full coverage for foodgrains and increased for sugar packaging for the forthcoming Jute Year. The submission before the Standing Advisory Committee emphasised absorption of bumper jute output, remunerative prices for cultivators, uninterrupted mill operations, and protection of farm and worker livelihoods. It also stressed that biodegradable jute bags offer an environmentally friendly alternative to HDPE and polypropylene woven sacks, and that dilution of compulsory packaging could undermine plastic-pollution reduction efforts.
August 6, 2026
Show AI Summary
NBFC Upper Layer classification imposes enhanced regulation and listing obligations, while de-registration applications remain under examination.
NBFC Upper Layer classification subjects identified large non-banking financial companies to enhanced regulatory requirements for at least five years and requires stock-exchange listing within three years of identification. The framework divides NBFCs into Base, Middle, Upper and Top Layers. Seventeen large NBFCs were included in the Upper Layer list, while Tata Sons' classification remains subject to the pending examination of its de-registration application.
August 6, 2026
Show AI Summary
Closing auction price discovery may affect benchmark levels differently based on constituent liquidity and concentrated institutional order flow.
The Closing Auction Session in the equity cash segment uses an auction-based method to determine closing prices of eligible shares with futures and options contracts, aiming to strengthen transparent and robust price discovery. Its effect on benchmark closing levels may differ according to constituent liquidity and institutional order flow. The Reserve Bank of India retained the policy repo rate and neutral stance, indicating that future policy decisions will be data-dependent and influenced by assessment of energy-cost effects on inflation.
August 6, 2026
Show AI Summary
Public grievance redressal strengthens through monitoring, senior review, workshops, stakeholder coordination, and customer-centric service delivery improvements.
Public grievance redressal is assessed through the Grievance Redressal Assessment and Index, which analyses grievance categories and disposal. The Department of Financial Services' Insurance and Banking Divisions received third and sixth ranks respectively in the June 2026 assessment. Its framework includes disposal of grievances, random reviews by senior officials, and workshops on effective grievance redressal, supporting best practices, stakeholder coordination, technology use, customer-centric service, and accountable public service delivery.
August 6, 2026
Show AI Summary
Distressed asset resolution integrates restructuring, insolvency advisory, funding facilitation and digital marketplaces for transparent financial recovery transactions.
The platform provides integrated advisory, management and transaction-facilitation services for Non-Performing Assets, stressed assets and distressed assets. Its services include NPA resolution, debt restructuring, One-Time Settlements, funding assistance, insolvency and bankruptcy advisory, asset reconstruction, financial restructuring and capital raising. Digital and offline marketplaces facilitate transactions involving distressed assets, receivables and related movable or immovable properties, supported by collaborations with banks, Non-Banking Financial Companies, Asset Reconstruction Companies, corporates and investors.
August 6, 2026
Show AI Summary
Merchant discount rate framework may permit charges on notified UPI and digital payments through a government notification mechanism.
The proposed amendment to Section 10A of the Payment and Settlement Systems Act, 2007 replaces the existing income-tax-linked reference with a Central Government notification-based mechanism for electronic payment modes. It removes the current statutory restriction preventing banks and payment service providers from charging Merchant Discount Rate on notified modes, enabling the Government to permit charges for UPI and other digital payments. The policy rationale is to support funding for payment infrastructure and a sustainable revenue model for service providers.
August 6, 2026
Show AI Summary
Neutral monetary policy stance continues as resilient growth and food-fuel inflation risks require close macroeconomic monitoring.
The Monetary Policy Committee retained the policy repo rate and continued the neutral monetary policy stance, citing the need to assess evolving growth-inflation conditions. Domestic activity was assessed as resilient, supported by consumption, investment, credit, manufacturing, services and exports, although global uncertainty, energy prices, supply-chain pressures, geopolitical developments and monsoon conditions remain risks. CPI inflation increased mainly because of food and fuel pressures, while underlying inflation remained moderate. The Committee considered that price pressures were not yet generalised and reaffirmed its commitment to align inflation with the target.
August 6, 2026
Show AI Summary
Closing auction price discovery and a neutral monetary policy stance shaped equity market conditions amid lower crude prices.
The Closing Auction Session in the equity cash segment introduced an auction-based mechanism for determining closing prices of eligible shares with futures and options contracts, intended to make price discovery more transparent and robust. The Reserve Bank of India retained its neutral stance and left the benchmark policy rate unchanged, pending greater clarity on the inflationary effects of higher energy costs. Future policy decisions were stated to be data dependent.
August 6, 2026
Show AI Summary
Monthly public accounts review records receipts, expenditure, tax devolution, interest payments, subsidies, and capital spending through June.
Consolidated monthly accounts up to June 2026 report total receipts of Rs.10,49,243 crore, comprising net tax revenue, non-tax revenue and non-debt capital receipts. Tax devolution transfers to State Governments total Rs.2,63,336 crore. Total expenditure is Rs.13,57,076 crore, including revenue expenditure of Rs.10,16,818 crore and capital expenditure of Rs.3,40,258 crore. Revenue expenditure includes interest payments and major subsidies.
August 6, 2026
Show AI Summary
Illicit psychotropic drug manufacture triggered seizure, apprehensions, and investigation into planned trafficking under narcotics control law.
Illicit manufacture and trafficking of Alprazolam and Diazepam, psychotropic substances regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985, were detected at a clandestine facility. Searches recovered finished and intermediary substances, together with raw materials and reaction mixtures used in manufacture, and the goods were seized under the Act. The manufacturer and an intended buyer were apprehended, with material indicating a proposed transaction for further illicit trafficking. Preliminary investigation indicated prior involvement in illegal drug production and trafficking.

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