Just a moment...

Top
Help
AI Drafter

Generate professional replies to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.

Step 1 – Issue Identification & Review

The AI analyses your query, notice, order, or uploaded documents and identifies the key issues involved.

• Review the issues identified by the AI
• Add, edit, remove, or refine issues as required


Step 2 – Draft Generation

Once you approve the issues, the AI performs issue-wise legal research and prepares a structured draft response.

• Relevant statutory provisions
• Judicial precedents and Supreme Court, High Court and other citations
• Issue-wise legal analysis
• Practical arguments and supporting content
• Professionally structured draft ready for further review.

Try Now
×

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 characters0/2000
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.
RelevanceDefaultDate
    No Records Found
    ❯❯
    MaximizeMaximizeMaximize
    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:
      AI TextQuick Glance by AIHeadnote
      Show All SummariesHide All Summaries
      No Records Found

      News

      Back

      All News

      Showing Results for :
      Reset Filters
      Showing
      Records
      ExpandCollapse
        No Records Found

        News

        Back

        All News

        Showing Results for : Reset Filters
        Case ID :

        12 FDI Proposals Amounting to Rs. 802 crore Approved by FIPB

        December 27, 2012

        📋
        Contents
        Note

        Note

        -

        Bookmark

        print

        Print

        Login to TaxTMI
        Verification Pending

        The Email Id has not been verified. Click on the link we have sent on

        Didn't receive the mail? Resend Mail

        Don't have an account? Register Here

        Press Information Bureau

        Government of India

        Ministry of Finance

        27-December-2012 15:15 IST

        Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on November 20, 2012, the Central Government has approved 12 Proposals of Foreign Direct Investment (FDI) amounting to Rs.802.07 crore approximately. 

        In addition, one proposal viz. M/s Ingka Holding Overseas B.V., amounting to Rs.4200 crore, has been recommended for consideration of Cabinet Committee on Economic Affairs (CCEA).

        Following 12 (Twelve) proposals have been approved

        Sl. No.

        Name of the applicant

        Particulars of the proposal

        FDI/NRI inflows (Rs. In crore)

        FINANCIAL SERVICES 

        1

        M/s Prizm Payment Services Pvt. Ltd., Tamil Nadu

        To undertake an additional activity of setting up, owning and operating White Label ATMs (WLAs) in India.

        No fresh inflow

        2

        M/s Ratnakar Bank Ltd., Mumbai

        To increase foreign equity from 43% to 55%.

        300.00

        HEALTH & FAMILY WELFARE

        3

        M/s Sai Life Sciences Ltd., Hyderabad

        Transfer of shares from NR to NR to carry out the business of integrated drug discovery and development services, know how, manufacturing process for chemicals, drugs and pharmaceuticals.

        Nil

        4

        M/s Invida India Pvt. Ltd., Ahmedabad

        Transfer of shares from NR to NR.  The company is engaged in commercializing differentiated pharmaceutical products of superior quality.

        Nil

        5

        M/s Mylan Laboratories Ltd., Hyderabad

        To acquire an existing pharmaceutical manufacturing facility (‘Undertaking’) from the internal accruals.

        173.00

        6

        M/s Reckitt Benckiser (India) Ltd

        To acquire 49 per cent as a nominee of the foreign investor as approved by the Supreme Court.  The company is engaged in the business of manufacturing footwear           products under the brand name “Scholls” and footwear products.

        Nil

        INDUSTRIAL POLICY & PROMOTION

        7

        M/s Taqa Jyoti Energy Ventures Pvt. Ltd.

        Infusion of foreign investment into the company which does not have any operations and also does not have any downstream investments.

        252.00

        TELECOMMUNICATION

        8

        M/s Silitech International (India) Pvt. Ltd.

        Post facto approval for receiving the consideration after two years from the date of issue of shares.  Company is engaged in the manufacture of keypads for use in cell phone handsets.

        0.01 (already brought)

        ECONOMIC AFFAIRS

        9

        M/s Akon Electronics India Pvt. Ltd.

        Post facto approval to regularize the issue of equity shares to carry out the business of     manufacture of components and sub-assemblies for communications system under 100% EOU scheme.

        Nil

        HOME AFFAIRS 

        10

        M/s OCS Group Singapore Pte. Ltd., Singapore

        Acquisition of equity shares of an India company from resident individual shareholders.  The Indian company is engaged in the business of detective and protective services.

        36.80

        STEEL 

        11

        M/s WJ Towell, Oman

        To set up an LLP to carry out the business of design, fabrication, supply& installation of steel structures, welded beams, pressure vessels, tanks pressure piping, etc.

        40.00

        TELECOMMUNICATION

        12

        M/s Space Era Materials and Process Pvt. Ltd., Hyderabad

        Induction of foreign equity to carry out the business of design, development, manufacture, assembly, repair and overhaul of the equipment of telecommunication and avionics used in aircrafts, radars and other electrical and electronics defence components, aggregates and equipment in India.

        0.26

        2. The following 9 (Nine) proposals have been deferred:

        Sl.No

        Name of the applicant

        Particulars of the proposal

        1

        M/s Bharat Electronics Limited, Bangalore

        To set up a JV company to carry out the business of Design, Development, marketing, supply and support of civilian and select defence Radars for Indian and global markets.

        2

        M/s Abicor Binzel Production (India) Pvt. Ltd., Pune

        Post facto approval for the conversion of overseas loan and interest into share application money and issue of shares to NR to carry out the business of manufacturing of welding torches.

        3

        M/s Tecnova Consulting LLP, Delhi

        Induction of foreign equity into LLP engaged in Business and management consulting, providing workable strategy solutions, implementation assistance to foreign companies to leverage the India advantage, business processing outsourcing, and software development.

        4

        M/s Shaastra Securities Trading Pvt. Ltd., Gurgaon

        To make downstream investment in the proposed Wholly Owned Subsidiary to undertake the activity of Commodity broking & trading in the commodity exchanges.

        5

        M/s Perrigo API India Pvt. Ltd., Mumbai

        Induction of foreign equity to carry out the business of manufacture of pharmaceutical ingredients.

        6

        M/s Prithvi Information Solutions Ltd., Andhra Pradesh

        Issue of warrants to carry out the business of end-to-end solutions in information technology, RF engineering and knowledge service apart from providing consulting and staff augmentation.

        7

        M/s Pran Beverages (India) Pvt. Ltd., Kolkata

        Change in foreign collaborator and increase in foreign equity participation to carry out the business of manufacture of fruits/vegetables juices and their concentrates, squashes and powders, and manufacture of  Beverages n.e.c.

        8

        M/s InterCall Asia Pacific Holdings Pvt. Ltd., Singapore

        To set up a WOS to undertake the business of providing audio, video and web conferencing services for business, commercial, banking and other establishments.

        9

        M/s Hospira Inc., USA, M/s Hospira Pte Ltd., Singapore, and M/s Hospira Healthcare India Pvt. Ltd.

        Induction of foreign equity into Indian company which will act as operating cum investing company in the pharmaceuticals sector.

        3. The following 3 (Three) proposals have been rejected: 

        Sl. No

        Name of the applicant

        Particulars of the proposal

        1

        M/s Ampo Valves India Pvt. Ltd., Coimbatore

        Post facto approval for issuing equity shares against security deposit for building taken on lease, payment to consultants towards ROC filing fees and professional fees and incorporation expenses to carry out the business of manufacturing of industrial valves.

        2

        M/s Berggruen Real Estates Pvt. Ltd., Mumbai

        Repatriation/ waiver of minimum capitalization.

        3

        M/s Mahindra and Mahindra Limited, New Delhi

        To set up a new JV with M/s Rafael Advanced Defence System Ltd for production and development of naval defence system and other Products.

          4. The following 01 (One) proposal has been withdrawn from the Agenda:

        Sl.No

        Name of the applicant

        Particulars of the proposal

        1

        M/s Multi Commodity Exchange of India Pvt. Ltd.

        Post facto approval for FDI received before issuance of Press Note 2 of 2008.  The company is engaged in the business of trading in commodities.

         5. In respect of the following 1 (One) proposal, it is recommended that at this stage, FIPB has no role other than awaiting the decision of Company Law Board and Directorate of Enforcement.

        Sl.No.

        Name of the applicant

        Particulars of the proposal

        1

        M/s KSK Energy Ventures Ltd.

        The Delhi High Court, vide Order dated 1.8.2012, have disposed off the matter with the direction that the application dated 2.3.2012 of M/s KSK Energy Company Pvt Ltd filed before the FIPB, has to be disposed off within 3 months i.e. by 30.11.2012 in accordance with law.

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

        Sl. No

        Name of the applicant

        Particulars of the proposal

        FDI/NRI inflows (Rs. In Crore)

        1

        M/s Ingka Holding Overseas B.V.

        To set up a wholly owned subsidiary to undertake single brand retailing of IKEA products.

        4200.00

         

        * * * * *

        DSM/RS/ka

        Foreign direct investment approvals shape sectoral entry; 12 proposals approved and one recommended to higher authority. The Central Government, on FIPB recommendations, approved multiple FDI proposals across sectors through equity infusions, share transfers, acquisitions and post-facto regularisations, deferred several joint ventures and downstream investment proposals for further scrutiny, rejected specific proposals for non-compliance with capitalization or procedural requirements, withdrew one agenda item, and recommended one large-value proposal to the Cabinet Committee on Economic Affairs for consideration.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Foreign direct investment approvals shape sectoral entry; 12 proposals approved and one recommended to higher authority.

                                The Central Government, on FIPB recommendations, approved multiple FDI proposals across sectors through equity infusions, share transfers, acquisitions and post-facto regularisations, deferred several joint ventures and downstream investment proposals for further scrutiny, rejected specific proposals for non-compliance with capitalization or procedural requirements, withdrew one agenda item, and recommended one large-value proposal to the Cabinet Committee on Economic Affairs for consideration.





                                Note: It is a system-generated summary and is for quick reference only.

                                Topics

                                ActsIncome Tax
                                No Records Found