TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All News
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All News
Join Channel
Note
Bookmark
Share
Don't have an account? Register Here
Press Information Bureau
Government of India
Ministry of Finance
28-January-2013 18:04 IST
Further to Para 5 of the Press Release dated January 11, 2013 regarding Foreign Direct Investment (FDI) proposals approved by FIPB, wherein it was stated that decision in case of the Five (5) proposals will be communicated separately, the Central Government has now approved the following Four (4) proposals out of them amounting to Rs. 280.00 crore approximately.
Following 4 (Four) proposals have been approved.
Sl. No. | Name of the applicant | Particulars of the proposal | FDI/NRI inflows (Rs. in crore) |
ECONOMIC AFFAIRS
1 | M/s IvyCap Ventures Trust | To allow NRI investment through normal banking channels in compliance with FEMA Regulations and extant FDI Policy. | 200.00 |
ELECTRONICS & INFORMATION TECHNOLOGY
2 | M/s Wipro Limited, Bangalore | Transfer of shares by way of swap consequent to a demerger of non-IT activities. The company is engaged primarily in IT sector and also in other diversified activities including defence. | Nil |
POWER
3 | M/s Spanco Power Distribution Ltd., Mumbai | Post facto approval to act as an investing company and make downstream investments in its WoS and other companies in the power distribution sector. | 80.00 |
ELECTRONICS & INFORMATION TECHNOLOGY
4 | M/s GPX India Private Limited, Maharashtra | To issue equity shares to the Foreign Collaborator against import of capital goods/equipment/machinery to carry out the business of setting up of domestic Other Service Provider (OS) (Data Centre) for providing various products and services to its clients/customers. | Nil |
2. The following 1 (One) proposal has been deferred:
Sl.No | Name of the applicant | Particulars of the proposal |
1 | M/s Yalamanchili Software Export Ltd., Chennai | Conversion of non-repatriable equity held by majority shareholder to repatriable equity and share swap of this holding to shares of a foreign company. |
* * * * *
DSM/RS/ka
Foreign direct investment approvals permit NRI banking routes, downstream investments, share swaps, and equity-for-equipment. Central Government approved four FDI proposals applying different regulatory mechanisms: allowing NRI investment through normal banking channels under FEMA and the FDI policy; post facto approval for an investing company to make downstream investments in power distribution; issuance of equity to a foreign collaborator against import of capital goods for a domestic data centre; and a share-swap following demerger with no FDI inflow. One proposal converting non-repatriable equity to repatriable equity and a share swap was deferred. of Press 'Enter' after typing page number.
TaxTMI 
