TaxTMI 
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TaxTMI 
12 Foreign Direct Investment proposals approved
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....2 Foreign Direct Investment proposals approved <br>News and Press Release<br>Dated:- 17-9-2008<br><BR>Finance Minister, Shri P. Chidambaram has approved 12 Foreign Direct Investment proposals recommended by Foreign Investment Promotion Board (FIPB) in its meeting held on 12th September, 2008. The approval amounts to Rs. 1414.65 crore. The proposals are related to Ministries/Departments, namely Com....
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....merce, Economic Affairs, Heavy Industry, Information & Broadcasting, Information Technology and Telecommunications. The 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. Picanol India Pvt. Ltd. New Delhi Capitalization of pre-incorporation/preliminary expenses No fresh inflow ECON....
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....OMIC AFFAIRS 2. M/s. Automatika Ltd, Canada Transfer of shares by way of share swap No fresh inflow 3. M/s. Polycab Wires Pvt. Ltd. Mumbai Conversion from operating company to operating cum holding company to make downstream investment and issue of warrants 551.50 4 M/s. Goldman Sachs (Mauritius) LLC, Mauritius To undertake the activities which are permitted to be undertaken by a Primar....
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....y Dealer in India. Proposal attracts Press Note 1 of 2005 34.19 5 M/s. Sybase Software (India) Pvt. Ltd. Conversion from operating company to operating cum holding company to make downstream investment No fresh inflow 6 M/s. National Housing Bank New Delhi (2) M/s. United Guaranty Corporation, USA (3) International Finance Corporation, USA To establish a joint venture company to undertake ....
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....mortgage guarantee activities 570.00 HEAVY INDUSTRY 7 M/s. ZF India Pvt. Ltd. To manufacture and supply of chassis and driveline products for passenger vehicles, rail vehicles and manufacture and supply of transmission for marine craft applications. Proposal attracts Press Note 1 of 2005 224.75 INFORMATION & BROADCASTING 8 M/s. Nine Dot Nine Mediaworx Pvt. Ltd. New Delhi Induction of FDI....
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.... in a company engaged in publishing of scientific magazines/speciality journals/periodicals etc. 33.97 INFORMATION TECHNOLOGY 9 M/s. SK C & C Co. Ltd. Korea To acquire equity shares by way of assignment of its existing "music tagging services" agreement No fresh inflow 10. M/s. b-IQ Technologies Ltd. Conversion from operating company to operating cum holding company to make downstream inv....
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....estment No fresh inflow INFORMATION & BROADCASTING 11 M/s. Mediacom Worldwide Incorporated, USA Setting up of a JV 0.24 TELECOMMUNICATIONS 12 M/s. Transcend Infrastructure Limited Increase in FDI beyond 49% in building towers, acquiring towers or securing management rights of towers for the purpose of leasing or licensing the shares use of these towers for communications and broadcastin....
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....g No fresh inflow Total Rs. 1414.65 crore The following nine (9 ) proposals have been recommended to be deferred: Sl. No Name of the applicant Particulars of the proposal 1 M/s. Quest Manufacturing Pvt. Ltd. Bangalore Conversion from operating company to operating cum holding company to make downstream investment 2 M/s. Meka Infrastructure Pvt. Ltd. Mumbai Conversion from operating ....
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....company to operating cum holding company to make downstream investment 3 M/s. Essel Shyam Communication Ltd. Noida To acquire equity shares and issue of warrants to subscribe to compulsory convertible preference share 4 M/s. Drillmec S.R.L. Spain The applicant has branch office in India since 2001 and the activities of the Branch Office and proposed wholly owned subsidiary/new company are th....
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....e same, which cannot operate together 5 M/s. Benq India Pvt. Ltd. Company has been granted approval to undertake cash and carry wholesale trading for various types of telecom and IT products, fall under the automatic route (PN 4 (2006)], presently the company has requested to include the items (viz., monitors & CD Rom Drivers) for which approval was granted for manufacturing/test marketing 6 ....
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.... M/s.G4S Corporate Services India Pvt. Ltd. Gurgaon Conversion of existing status of operating company into foreign owned Indian Holding Company to make downstream investment 7 M/s. Delight Investments Pte. Ltd. Singapore Induction of foreign equity in two Indian companies and to convert their status from operating company into operating-cum-holding company for making further downstream invest....
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....ments 8 M/s. Geld Consultancy Services Pvt. Ltd. Mumbai To set up JV to carry out the activities of Global Positioning System Hardware & Software and services and related equipment field 9 M/s. ABN-AMRO Securities (India) Pvt. Ltd. To enlarge the services by offering value added financial services (non fund based) to their clients (both individual and institutional) The following one (1 )....
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.... proposal has been rejected: Sl. No Name of the applicant Particulars of the proposal 1 M/s. JSW Infrastructure Ltd, Mumbai Ex-post-facto approval for having undertaken the activity of holding company BSC/SS/GN-228/08<BR> News - Press release - PIB....