Just a moment...

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 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
    DRI uncovers another clandestine drug manufacturing unit in Maharashtra
    Delhi HC gives Kejriwal 4 weeks to respond to ED pleas against acquittal in two cases
    Pesticide residues found in 58 food samples tested in Kerala, says Minister Siddique
    DGFT Removes Physical Duty Payment Challans for Export Obligation Discharge Certificate Applications under Advance Authorisation and Export Promotion ...
    TRAI directs use of 1601-series for service, transactional calls by utilities, logistics cos
    Nagaland tax revenue rises to Rs 1,597 crore in FY'26
    India's Russian crude imports hit record for second straight month
    Stolen phone of 88-year-old leads Delhi Police to bust interstate cyber-fraud syndicate; 9 held
    Rupee falls 11 paise to close at 95.28 against US dollar on firm crude oil prices
    Loan Utsav 2026: Bajaj Finance Personal Loan Now Comes with an Exclusive Reward Bundle for Eligible Customers
    Freedom to Spend Smarter: AU Small Finance Bank Credit Cards Bring Rewards, EMI Flexibility and Lounge Access to India''s Biggest Shopping Month
    Rupee falls 8 paise to 95.25 against US dollar in early trade
    APEDA Facilitates First-Ever Export of GI-tagged Mithila Makhana by Sea Route from Bihar to Australia
    Government signs strategic MoUs with key industry leaders and ecosystems to strengthen support to StartUps
    No Charges for UPI Users
    Competition Commission of India (CCI) hosts BRICS Heads of Competition Authorities 2026 meeting
    ICoAS fraternity reaffirms commitment to cost optimisation for Atmanirbhar Bharat on ICoAS day 2026
    Govt to introduce bill in Lok Sabha to broaden NCDC's mandate for co-operative sector growth
    AAP govt indulged in large-scale financial irregularities, caused losses to exchequer: Delhi minister
    ED files chargesheets in 2 PMLA cases against Anil Ambani Group companies, ex-executives
❯❯
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:
    Show All SummariesHide All Summaries
    August 10, 2026
    Show AI Summary
    Illicit opioid medicine exports exposed through concealed cargo, clandestine manufacturing, repacking, and attempted transnational trafficking to Nigeria.
    Illicit manufacture and attempted export of controlled opioid medicines were detected in a network producing, concealing, storing and exporting Tramadol Hydrochloride tablets to Nigeria. A consignment declared as Pregabalin capsules contained concealed Tramadol Hydrochloride and Tapentadol tablets. Investigation identified clandestine manufacture, repacking and preparation for export, with searches yielding tablet-compression machinery and raw materials. Tramadol is a psychotropic substance under the Narcotic Drugs and Psychotropic Substances Act, while Tapentadol is regulated under the Drugs and Cosmetics Act and its rules.
    August 10, 2026
    Show AI Summary
    Summons compliance under anti-money-laundering law faces appellate scrutiny after acquittal over unproven email service allegations.
    Delhi High Court required Arvind Kejriwal to reply to Enforcement Directorate petitions challenging his acquittal in proceedings concerning alleged non-compliance with summonses. The trial court found that the agency had not proved intentional disobedience, service of summons through email, or lawful issuance of electronic summons under the Prevention of Money Laundering Act. The appellate challenge concerns proof of service, validity of electronic summons, and intentional non-compliance.
    August 10, 2026
    Show AI Summary
    Pesticide residue concerns drive organic farming, school agriculture initiatives, infrastructure financing and climate-resilience support for farmers.
    Food-safety concerns arising from pesticide residues and toxic substances are to be addressed through organic vegetable farming, household cultivation and the Kathir school-farming initiative. Kathir provides for institutional farming, teacher and committee support, markets, student training and clubs, with possible academic weightage for agricultural participation. Agricultural infrastructure financing supports post-harvest management, value addition, processing, packing, marketing and exports. Additional measures include banking support, agricultural technology adoption, women-farmer support and schemes addressing climate-related floods and drought.
    August 10, 2026
    Show AI Summary
    Digital EODC processing removes physical duty challans through authenticated payment verification for export authorisation closure.
    Export Obligation Discharge Certificate processing under the Advance Authorisation and Export Promotion Capital Goods schemes no longer requires physical duty-payment challans for voluntary customs-duty payments made on or after 1 August 2026. Authenticated licence-wise payment information is electronically transmitted from Customs/ICEGATE to DGFT systems and mapped to the relevant authorisation. Exporters can verify payment details on the customer portal, while Regional Authorities use corresponding back-office records, replacing manual submission and verification for authorisation closure.
    August 10, 2026
    Show AI Summary
    Trusted service-call numbering requires verified utilities and logistics entities to use dedicated numbers exclusively for transactional and service communications.
    The 1601-series is introduced for verified utilities, courier and logistics entities making service and transactional voice calls. Numbers must be allocated directly to eligible entities, not intermediaries or aggregators, following verification by telecom service providers and an undertaking of exclusive use. Promotional voice calls are prohibited on this series and remain associated with the 140-series. The framework separates these calls from the 1600-series reserved for regulated financial-sector and government-to-citizen communications, supporting consumer recognition of legitimate calls and reducing impersonation risks.
    August 10, 2026
    Show AI Summary
    GST revenue collection drives tax growth while data scrutiny, taxpayer verification, and compliance capacity remain key administrative priorities.
    GST constituted the principal component of tax revenue for the 2025-26 fiscal year. Tax administration faces staff shortages, information-technology upgrade needs, and increased workloads from taxpayer registrations and return filings. Compliance oversight requires GST data scrutiny, risk assessment, identification of unregistered taxpayers, tax-evasion detection, and field verification of high-risk taxpayers. Long-term revenue planning sets progressively higher collection targets through 2063.
    August 10, 2026
    Show AI Summary
    Russian crude imports reshape India's refining trade as processed petroleum products reach sanctioning jurisdictions despite import restrictions.
    Indian imports of Russian crude oil reached a second consecutive monthly record in July 2026, with Russian crude forming the dominant share of India's Russian fossil-fuel purchases and more than half of total crude imports. Higher receipts through smaller terminals offset reduced volumes at Paradip. Indian refineries processing Russian crude also exported refined petroleum products to sanctioning jurisdictions, including the European Union, Australia and the United States, despite the European Union prohibition on imports of oil products made from Russian crude.
    August 10, 2026
    Show AI Summary
    Cyber-fraud through stolen phones allegedly used mule accounts, banking credentials and coordinated technical operations to divert victims' funds.
    Investigation into unauthorised withdrawals after theft of a mobile phone uncovered an alleged interstate cyber-fraud network using stolen devices, linked banking credentials and mule bank accounts. The scheme allegedly involved phone theft, supply of accounts and banking instruments, and a technical operation that accessed victims' accounts and routed funds for withdrawal or transfer. Digital surveillance, transaction mapping, seized devices, victim data and transaction records are being examined to identify linked complaints and the extent of funds allegedly diverted.
    August 10, 2026
    Show AI Summary
    Rupee depreciation reflected stronger dollar, elevated crude prices and geopolitical uncertainty, while portfolio inflows and equity gains provided support.
    The rupee depreciated against the US dollar amid a stronger dollar, higher global crude oil prices and uncertainty surrounding West Asia-related negotiations. Concerns over crude oil's potential impact on the trade deficit weighed on the currency, while positive domestic equity markets and foreign portfolio investment inflows provided support. Market caution remained focused on forthcoming US inflation data, dollar-index movements and Brent crude prices. Foreign-exchange reserves increased during the reported period.
    August 10, 2026
    Show AI Summary
    Collateral-free personal loans offer extended repayment flexibility, conditional reward benefits, and online application subject to eligibility and disbursal requirements.
    Loan Utsav 2026 provides eligible Bajaj Finance Personal Loan applicants an exclusive reward bundle where the loan is successfully disbursed during the campaign period. The collateral-free facility supports personal expenses, offers repayment tenures from 12 to 108 months, and may enable lower monthly EMI obligations through a longer selected tenure. Interest rates depend on eligibility, credit assessment, financial profile and lending criteria. Online applications require personal and financial details and required documents, with disbursal for eligible applicants possible after verification and approval.
    August 10, 2026
    Show AI Summary
    Credit card payment flexibility supports seasonal shopping and travel through eligible EMIs, rewards, tracking tools and conditional merchant benefits.
    Credit-card spending features include conversion of eligible purchases into EMIs, selected no-cost EMI options, reward points, cashback, merchant discounts and payment flexibility. Travel-related benefits may include domestic airport lounge access, travel-booking discounts, fuel-surcharge waiver and anniversary-linked rewards. The AU 0101 application enables transaction tracking, balance and interest-rate monitoring, EMI conversion and bill-payment management. Features and offers are subject to change, customer eligibility, internal policies and partner-merchant terms.
    August 10, 2026
    Show AI Summary
    Foreign-exchange market conditions weakened the rupee as stronger dollar and crude prices offset support from reserve growth and inflows.
    Foreign-exchange market conditions saw the rupee weaken against the US dollar in early trading, influenced by a stronger dollar and higher global crude oil prices. Foreign institutional equity inflows and increased foreign-exchange reserves moderated pressure on the rupee. Market attention remained focused on developments in West Asia and the Reserve Bank of India, alongside movements in the dollar index, crude oil prices and domestic equity markets.
    August 10, 2026
    Show AI Summary
    GI-tagged Mithila Makhana export facilitation expands sea-route market access while supporting quality compliance and farmer-linked value chains.
    Export facilitation for GI-tagged Mithila Makhana enabled the first commercial sea-route shipment from Bihar to Australia. APEDA, in association with the Bihar agriculture department, supported market access, coordination, capacity building and stakeholder engagement. The export model is intended to improve farmer price realisation, require adherence to global quality standards, and strengthen growers, processors and exporters. A separate HS Code for Makhana has taken effect under the Finance Bill, 2025, supporting product-specific trade classification.
    August 10, 2026
    Show AI Summary
    Startup ecosystem support expands through digital payments, cloud access, AI innovation, investment readiness, governance support and global market programmes.
    DPIIT has entered into strategic MoUs to support DPIIT-recognised startups through payment infrastructure, entrepreneurship development, cloud technology, mobility innovation, investment readiness and global-market access. Eligible startups may receive payment and cloud support, technical training, mentorship, startup formalisation assistance, market and investor connections, AI and mobility enablement, and programmes addressing governance, financial readiness, compliance and international expansion. The collaborations promote innovation across digital payments, clean energy, artificial intelligence, climate technology, advanced manufacturing, mobility and automotive technology.
    August 10, 2026
    Show AI Summary
    UPI transaction charges remain unavailable for consumers and person-to-person payments, while limited threshold-based merchant MDR may be considered.
    Proposed amendment of section 10A of the Payment and Settlement Systems Act, 2007 is intended to support UPI sustainability, technological advancement and resilience. Consumer payments and person-to-person transactions are to remain free. Any future merchant discount rate would apply only to limited merchant transactions above a threshold, at a nominal rate, while most merchant transactions remain free. The framework supports investment in cybersecurity, fraud prevention and infrastructure, alongside a self-sustaining and inclusive digital-payment ecosystem.
    August 10, 2026
    Show AI Summary
    Fair competition cooperation in renewable energy markets advances knowledge-sharing and evidence-based enforcement across interconnected digital and energy markets.
    BRICS competition authorities adopted a Joint Statement strengthening cooperation to promote fair competition, including in renewable energy markets. Cooperation focuses on dialogue, knowledge-sharing and consideration of cross-border competition challenges in digital markets, emerging technologies and the energy transition. Competition enforcement is to remain principled and evidence-based, supporting efficiency, consumer welfare, innovation and merit-based competition. A collaborative renewable-energy competition study identified evolving market dynamics and areas for future cooperation.
    August 10, 2026
    Show AI Summary
    Cost optimisation in public finance strengthens investment decisions, risk allocation, indigenous manufacturing and value-driven government expenditure through specialised financial expertise.
    ICoAS cost optimisation supports public financial management through prudent resource utilisation, financial oversight and improved cost management across government. Its role includes supporting indigenous manufacturing, better investment decisions, efficient public expenditure and maximum value for public spending. With greater private-sector participation and Public-Private Partnerships, ICoAS officers are expected to promote cost efficiency, appropriate risk allocation and sound project structuring. Capacity building emphasises integrity, financial modelling, data visualisation, analytical frameworks and artificial intelligence for improved public-finance management.
    August 9, 2026
    Show AI Summary
    Co-operative development financing would expand through direct assistance, share-capital participation and wider operational powers for sectoral support.
    National Cooperative Development Corporation (Amendment) Bill, 2026 proposes to broaden the Corporation's mandate to promote co-operative development. It would permit direct loans and grants to co-operative societies and other entities engaged in co-operative development, where funds are used for co-operative purposes. With Central Government approval, the Corporation could participate in the share capital of such entities. The proposals also expand the meaning of foodstuffs, remove geographical restrictions for industrial-goods assistance, and provide additional functional powers.
    August 9, 2026
    Show AI Summary
    GST compliance failures and electricity subsidy controls raise allegations of financial irregularities and potential losses to the public exchequer.
    Allegations based on a Comptroller and Auditor General report identified purported GST compliance failures involving outstanding tax liabilities, e-way bills generated after cancellation of GST registrations, limited bill scrutiny, non-compliance, and turnover mismatches. The allegations also concerned electricity subsidies extended to consumers with prolonged zero bills or apparent non-residence, presenting these issues as possible financial irregularities and losses to the public exchequer.
    August 9, 2026
    Show AI Summary
    Money-laundering prosecution complaints allege fund diversion through shell entities, credit-facility evergreening, layered transactions and fictitious project expenditure.
    Money-laundering prosecution complaints allege that funds from toll-road projects and credit facilities were diverted through group companies, contractors, shell entities and conduit accounts. In the toll-road matter, allegedly sham or back-dated subcontracting arrangements and subsequent documentation were used to portray transfers as genuine project expenditure. In the credit-facilities matter, fresh facilities were allegedly used to repay, rotate and evergreen earlier liabilities rather than for sanctioned end-use, with funds layered and presented as legitimate business expenditure or receipts. Attached assets are sought to be confiscated as alleged proceeds of crime.

    News

    Back

    All News

    Showing Results for :
    Reset Filters
      No Records Found

      News

      Back

      All News

      whatsappJoin Channel
      Showing Results for : Reset Filters
      News and Press Release

      31 FDI PROPOSALS APPROVED

      January 29, 2009

      Contents
      Summary
      Note

      Note

      -

      Bookmark

      Print

      Print

      Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on 9th January, 2009, Government has approved 31 Proposals of Foreign Direct Investment amounting to Rs. 1277.23 Crore approximately.  The proposals relate to Ministries/Departments, namely, Commerce, Economic Affairs, Telecommunication, Urban Development, Civil Aviation, Industrial Policy & Promotion, Post and Information & Broadcasting.                                                                                                                                                                                   

      Details of the proposals approved are as follows:

      Sl. No.

      Name of the applicant

      Particulars of the proposal

      FDI/NRI inflows (Rs. In Crore)

      COMMERCE

      1

      M/s Paul Hartmann Finance B.V. Netherlands

      To set up a WOS to undertake wholesale trading.  The proposal attracts Press Note 1 of 2005.

      1.70

      2

      M/s Now (Asia) INC. Mauritius

      To manufacture equipment relating to petroleum sector, wholesale trading to customers only in the Petroleum sector.  The proposal attracts Press Note 1 of 2005.

      28.00

      ECONOMIC AFFAIRS

      3

      M/s Alcatel Lucent India Ltd., New Delhi

      Post facto approval for conversion of operating company into an operating cum holding company to make further downstream investment.

      No Fresh Inflow

      4

      M/s Ramky Enviro Engineers Ltd., Hyderabad

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      320.00

      5

      M/s Rama Cylinders Pvt. Ltd., Mumbai

      To issue and allot fully funded/ paid warrants.

      84.03

      6

      M/s Universal Music India Pvt. Ltd., Mumbai

      Post facto approval for conversion of operating company into an operating cum holding company to make further downstream investment.

      1.20

      7

      M/s Cambridge Technology Enterprises Ltd., Hyderabad

      Transfer of shares by way of share swap and issuance of warrants.

      0.20

      8

      M/s Si2 Microsystems Ltd., Bangalore

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      62.332

      9

      M/s Haven Stead Developer Ltd., Chennai

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      25.00

      10

      M/s Easiprocess Pvt. Ltd., Bangalore

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      2.00

      11

      M/s Millennium Holdings Ltd., Mauritius

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      14.79

      12

      M/s CMS Computers Ltd., Mumbai

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      190.00

      13

      M/s Directi Internet Solution Pvt. Ltd., Mumbai

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      No Fresh Inflow

      14

      M/s Bridgestone Corporation, Japan

      Conversion of operating company into an operating cum holding company to make further downstream investment.  The proposal also attracts Press Note 1 of 2005.

      33.30

      15

      M/s Neilsoft Ltd., Pune

      Transfer of shares by way of share swap.

      No Fresh Inflow

      16

      M/s Kaefer Punj Lloyd Ltd., Gurgaon

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      25.16

      TELECOMMUNICATION

      17

      M/s Bharti Telemedia Limited (No.344/2008-FC.I)

      Ex-post facto approval for indirect foreign investment in a company engaged in Teleport sector.

      No Fresh Inflow

      URBAN DEVELOPMENT

      18

      M/s Isolux Corsan Indian Engineering & Construction Pvt. Ltd., Gurgaon

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      01.0

      CIVIL AVIATION

      19

      M/s Kerns Aero Products Pvt. Ltd.

      (i) To issue shares against technical know how fee, training and supply of designs and (ii) issue of warrants.

      10.00

      INDUSTRIAL POLICY & PROMOTION

      20

      M/s Phillips Electronics India Ltd.

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      No Fresh Inflow

      21

      M/s Morgan Stanley Financial Services Pvt. Ltd.

      Post facto approval for conversion of operating company into an operating cum holding company to make further downstream investment.

      100.00

      22

      M/s Radha Krishna Hospitality Services Ltd.

      Post facto approval for conversion of operating company into an operating cum holding company to make further downstream investment.

      No Fresh Inflow

      TELECOMMUNICATION

      23

      M/s Pacific Internet Ltd.

      To change the shareholding structure.  The company is engaged in providing internet services.

      15.84

      24

      M/s Onmobile Global Ltd.

      Transfer of the shares held by the company in favour of their 100% WOS.

      No Fresh Inflow

      URBAN DEVELOPMENT

      25

      M/s Cushman & Wakefield India Pvt. Ltd.

      To delete one of the Clause of the FC approval.

      No Fresh Inflow

      COMMERCE

      26

      M/s ZF Friendrichsafen AG, Germany

      To set up a new Joint Venture Company for manufacturing and marketing of rubber and rubber-to-metal parts for automotive industry, agriculture and construction machinery, railway and construction application.  The proposal attracts Press Note 1 of 2005.

      0.005

      POST

      27

      M/s Continental Air Express Pvt. Ltd.

      Induction of foreign investment in courier services.

      0.02

      ECONOMIC AFFAIRS

      28

      M/s Dun & Bradstreet Information Services India Pvt. Ltd., Mumbai

      To make investment of funds from its internal accruals or out of fresh remittances from the overseas company or by way of a combination of internal accruals and fresh remittances from the overseas company for equity participation of a minimum of 51% of the paid up equity share capital and also make further investments.

      No Fresh Inflow

      29

      M/s Keystone Realtors Pvt. Ltd., Mumbai

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      300.00

      INFORMATION & BROADCASTING

      30

      M/s South Asian Regional Investments Singapore Pte Ltd., (2) M/s South Asian Regional Investment Singapore II Pte Ltd., Singapore

      Sale and transfer of shares from resident shareholders to non-resident for owning and operating a language channel.  The proposal also attracts Press Note 1 of 2005.

       

      60.00

      31

      M/s Dow Jones & Company Inc., USA

      To make a WoS to carry out the publishing of facsimile editions of newspapers.

      2.16

                  The following 17 proposals have been deferred:

      Sl. No

      Name of the applicant

      Particulars of the proposal

      1

      The Bank of Nova Scotia, Canada

      To set up a WOS to undertake wholesale trading and hedging in precious metals etc.

      2

      M/s DNATA, UAE

      To set up a JV company to provide ground handling services for both domestic and international operators as well as cargo handling and related services.

      3

      M/s Dynamatic Technologies Ltd., Bangalore

      Ex-post facto approval for engaging in the business of defense and strategic industries.

      4

      M/s Indtech Construction Pvt. Ltd., New Delhi

      Transfer of rights attached with warrants exercisable into equity shares.

      5

      M/s Sanlam Investment Management (Pty) Ltd., South Africa

      Issue of warrants and conversion of operating company into an operating cum holding company to make further downstream investment.  One of the downstream subsidiaries is engaged in the commodity broking.

      6

      M/s Logix Microsystems Ltd., Bangalore

      Transfer of shares by way of share swap.

      7

      M/s ABG Bulk Handling Pvt. Ltd., Mumbai

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      8

      M/s Noida Softwares Technology Park Ltd.

      Post facto approval for conversion of operating company into an operating cum holding company to make further downstream investment.

      9

      M/s Mahindra Forgings Ltd.

      Transfer of shares from a resident to a non-resident on a Stock Exchange.

      10

      M/s ABG Kandla Container Terminal Ltd.

      Post facto approval for conversion of operating company into an operating cum holding company to make further downstream investment.

      11

      M/s ELbee Express Pvt. Ltd.

      To issue and allot Cumulative Compulsory Convertible Preference shares.  The company is engaged in the business of providing courier and logistics services.

      12

      M/s Chorus Call Conferencing Services India Pvt. Ltd.

      To increase the FDI from existing 51% to 74% of the paid up capital of the company in telecom sector.

      13

      M/s World Space (I) Pvt. Ltd.

      To provide/undertake the activities of web based services.

      14

      M/s Genworth Financial Inc, USA

      Amendment in the existing FIPB approval.

      15

      M/s High Mark Credit Information Services Pvt. Ltd., Mumbai

      To issue and allot up to 10% of the issued share capital.

      16

      M/s Broadband Pacenet (India) Pvt. Ltd., Mumbai

      Induction of foreign equity  by way of subscribing to or acquisition of shares up to 74% equity of the company

      17

      M/s JT International Mauritius Pvt. Ltd

      To increase in foreign shareholding from 50% to 74%.

                  The following 4 proposal has been rejected:

      Sl. No

      Name of the applicant

      Particulars of the proposal

      1

      M/s RBS Credit and Financial Development Pvt. Ltd., Kolkata

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      2

      M/s Vatika Limited, New Delhi

      To retain the completed non FDI compliant projects/ assets and to exercise the option to retain the incomplete non-FDI complaint projects/ assets, post the infusion of FDI from various sources.

      3

      M/s GSR Sugars Pvt. Ltd., Hyderabad

      To issue "share option" convertible into equity shares.

      4

      M/s Meta Telecom Pvt. Ltd.

      Increase in Foreign equity from 40% to 73.45% in a company engaged in ILD and NLD Services.

      The following three proposals have been recommended for the consideration of CCEA, as the investment involved in the proposals is above Rs. 600.00 Crore.      

      Sl. No

      Name of the applicant

      Particulars of the proposal

      FDI/NRI inflows (Rs. In Crore)

      1

      M/s Orange Realty Pvt. Ltd., New Delhi

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      2051.00

      2

      M/s NTT Docomo Inc., Japan

      Post facto approval for conversion of operating company into an operating cum holding company to make further downstream investment.

      12924.00

      3

      M/s NTT Docomo Inc., Japan$

      Post facto approval for conversion of operating company into an operating cum holding company to make further downstream investment.

      949.07

      $          The Proposal will be placed before CCEA only after receipt of security clearance from MHA.           

      The following 1 (One) proposal has been withdrawn by the applicant.

      Sl. No

      Name of the applicant

      Particulars of the proposal

      1

      M/s. EZY Infosoft Private Limited, Chandigarh

      Conversion of operating company into an operating cum holding company, transfer of shares by way of share swap.  Proposal also attracts Press Note 1 of 2005.

      ******

      BSC/BY/GN-20/09

      Topics

      ActsIncome Tax