25 Proposals of Foreign Direct Investment Amounting to ` 1546.12 Crore Approved
25 Proposals of Foreign Direct Investment Amounting to ` 1546.12 Crore Approved
Based on the recommendations of Foreign
Investment Promotion Board (FIPB) in its meeting held on August 29, 2014,
Government has approved 25proposals of Foreign Direct Investment amounting to`1546.12
Crore approximately.
In addition, one proposal viz., M/s Medereich
Limited amounting to ` 1800.00 crore has also been recommended for
consideration of Cabinet Committee on Economic Affairs.
Details of Proposals considered in the Foreign
Investment Promotion Board (FIPB) Meeting held on29.08.2014.
1. Following
25 (Twenty five) proposals have been approved:
|
Sl. No.
|
Name of the Company/Applicant
|
Particulars of the
Proposal
|
Proposed Amount of FDI
(in ` Crore)
|
Sector
|
|
1
|
M/s BSN Medical
Netherlands Holding B.V., Netherlands
(No.
105/2014-FC-I)
|
Proposal for
investment up to 61% in the share capital of M/s Belladona Plasters Limited,
Goa.
|
NA
|
Pharma
|
|
2
|
M/s Zenara Pharma Private Limited
(No.
107/2014-FC-I)
|
Proposal seeking approval for (i) infusion of
additional FDI by M/s Camzena Holdings Limited by subscribing to shares on a
right basis and (ii) transfer of its shares constituting 48.99% by
Nulife(Cyprus) Ltd to M/s Camzena Holdings Limited
|
` 16.94 crore
|
Pharma
|
|
3
|
M/s Laurus Labs Private Limited
[No. FC.II – 1(2012)/244(2011)]
|
A Brownfield pharma company is seeking
approval for additional FDI and NR-NR transfer by subscription and transfer
of CCPS
|
` 600 crore
|
Pharma
|
|
4
|
M/s Flemingo International (BVI) Limited
(No. 93/2014-FC-I)
|
Approval has been sought by M/s Flemingo
International (BVI) Limited to incorporate wholly owned subsidiaries In India
to carry out duty free business.
|
` 150 crore
|
Others
|
|
5
|
M/s Flemingo International (BVI) Limited
(No.
99/2014-FC-I) [FC.II-225(2006)/ 226(2006)]
|
Proposal seeking approval to invest and hold
49% stake in an Indian company which is engaged in operation of duty free
shops
|
` 40.5 Crore
|
Multi brand Retail trading
|
|
6
|
M/s Miami Perfume Junction, Inc, USA
(No.
108/2014-FC-I)
|
Proposal seeking approval for incorporation of
a WoS in India to carry out the business of sale of duty free goods in
airlines and running duty free ships at airports in India
|
` 10 crore
|
Multi brand Retail trading
|
|
7
|
M/s
Maini Precision Products Private Limited
[No.
FC.II – 30(2011)/224(2010)]
|
Proposal seeking (i) approval to undertake
additional activities in defence sector and (ii) post facto approval for
reduction of foreign equity.
|
Nil
|
Defence
|
|
8
|
M/s AT&T Global Network Services India
Private Limited
[No. FC.II 119(2006) / 75 (2006)]
|
Proposal seeking approval to increase foreign
equity participation from existing 98.67% to 100% by way of buy back of
shares from Indian investor.
|
Not indicated
|
Telecom
|
|
9
|
M/s Ashdene Investments Limited, Gibraltar
(No. 88/2014-FC-I)
|
Proposal seeking permission for transfer of
shares from resident group of promoters to non-resident group of promoters
post de-merger.
|
Nil
|
Tea Plantation
|
|
10
|
M/s UBM Medica India Private Limited
[No. FC.II
– 365(2001)/393(2001)]
|
Proposal seeking post facto approval for
transfer of 20% equity shares from resident Indian to non-resident entity and
approval for transfer of entire shares from existing foreign shareholder to
another foreign entity.
|
Nil (` 3.21 crore approx. already brought in)
|
Print Media
|
|
11
|
M/s PDA-HaB Media and TradefairsPvt. Ltd,
Bangalore
(No. 95/2014-FC-I)
|
Proposal seeking approval for 50% foreign
investment by M/s Health and Beauty Holding GMBH, Germany to engage in the
business of print media.
|
` 1 Crore
|
Print Media
|
|
12
|
M/s VakrangeeSoftwares Limited
[No. FC.II – 59(2013)/58(2013)]
|
Proposal seeking approval to undertake setting
up and running “Brick & Mortar” bank branches, is seeking
clarification/approval for increase foreign equity participation in its
capital upto 73% (upto 49% by FIIs/FPIs and upto 24% by NRIs).
|
Not indicated
|
Others
|
|
13
|
M/s Dorma India Pvt Ltd
[No.
FC.II – 105(1997)/1131(1996)]
|
A wholly foreign owned subsidiary engaged in
the business of assembling and wholesale trading of automatic door closers is
seeking removal of the original (1997) FIPB approval condition of
disinvestment of upto 20% of its equity to Indian partners.
|
Nil
|
Others
|
|
14
|
M/s Monsanto Holdings Private Limited, Mumbai
(No. 42/2014-FC.I)
|
Approval has been sought for issue of equity
shares by a new company in pursuance of a demerger scheme, to the foreign
shareholders of the applicant.
|
Nil
|
Agriculture and Animal Husbandry
|
|
15
|
M/s QX Holdings Ltd. North Yorkshire,
UK
(No. 103/2014-FC-I)
|
Approval has been sought by M/s QX Holdings
Ltd to set up a LLP in India with 60% FDI to carry out the activity of back
office recruitment services to companies based in UK.
|
` 0.25 Crore
|
Others
|
|
16
|
Fulcrum Venture India Trust
(
No. 2/SIA/NFC/2013)
|
The applicant has sought approval for
permitting foreign investment upto INR 1 Crore by issue of one or more class
of units to Mr. BhoovarahanDesikan. The applicant has also sought approval of
FIPB for permitting to make remittance of sales proceeds/income/gains as and
when arising to Mr. BhoovarahanDesikan from Fulcrum since the investment is
proposed to be made by the said investor under the FDI route.
|
` 1 Crore
|
Others
|
|
17
|
M/s Chaitanya Rural Intermediation Development
Services Private Limited
(No.
15/SIA/NFC/2013)
|
M/s Chaitanya Rural Intermediaton Development
Services Private Limited has sought approval for‘ the allotment of 23,39,324
equity shares of Rs. 10/each in the capital of the company, allotted as fully
paid up in consideration for swap of 23,39,324 equity shares of Rs.10/each of
M/s CIFCPL.
|
Nil – the proposal is for issue of shares against swapping
of shares
|
Others
|
|
18
|
INDIAREIT Real Estate Fund-Scheme-I, through
its Fund Manager INDIARET Fund Advisors Private Limited
(No.
17/SIA/NFC/2013)
|
The applicant has sought approval to accept
NRI investment amounting to Rs. 500 crores. The applicant has undertaken that
full details of NRI investors along with appropriate certification of source
of funds verification undertaken by it would be provided as and when it
receives NRI investments.
|
` 500 Crore
|
Others
|
|
19
|
M/s AF Foot Care Private Limited
(No. 7/SIA/NFC/2014)
|
M/s AF Foot Care Private Limited has sought
post-facto FIPB approval for issue of 970000 shares of Rs 10 each by
conversion of pre-incorporation expenses amounting to Rs 97 lakh into equity
share capital.
|
NIl
|
Others
|
|
20
|
M/s Lush
Limited, UK
(No.
9/SIA/RT/2014)
|
The applicant has sought approval to
incorporate a wholly owned subsidiary in India to undertake single brand
rectal trading of ‘Lush’ products.
|
` 2.50 Crore
|
SBRT
|
|
21
|
M/s Damro Exports Private Limited, Sri Lanka
(No. 6/SIA/RT/2006)
|
The applicant has sought approval to enhance
its equity participation from 51% to 100% by way of purchase of shares form
M/s Eaden Marketing and Services Pvt. Ltd. and by subscribing to fresh equity
shares of the Damro Furniture Private Limited
|
`3.01 crore (approx)
(US $ 5,00,000)
|
SBRT
|
|
22
|
M/s Bestseller United (Singapore) Pte. Ltd.,
Singapore
(No. 1/SIA/RT/2014)
|
The applicant has sought approval to set up a
wholly owned subsidiary for undertaking single brand retail trading of
products under the brand name ‘Only’
|
`90.39 Crore (approx)
(US$ 15 Million)
|
SBRT
|
|
23
|
M/s Bestseller United (Singapore) Pte. Ltd.,
Singapore
(No.
2/SIA/RT/2014)
|
The applicant has sought approval to set up a
wholly owned subsidiary for undertaking single brand retail trading of
products under the brand name ‘Vero Moda’
|
`90.39 Crore (approx)
(US$ 15 Million)
|
SBRT
|
|
24
|
M/s Bestseller United (Singapore) Pte. Ltd.,
Singapore
(No. 6/SIA/RT/2014)
|
The
applicant has sought approval to acquire 100% equity of M/s Best
United India Comforts Private Ltd. The applicant currently proposes to make
an investment of USD 5 million for acquisition of equity shares from existing
shareholders as well as for the set-up of SBRT stores at the initial stages.
|
`30.13 Crore (approx)
(US$ 5 Million)
|
SBRT
|
|
25
|
M/s Austria Puma DassierGesellchaftm.b.H ,
Austria
(No.24/SIA/RT/2008)
|
The applicant has sought approval to enhance
its equity participation from 51% to 100% and trading of additional products
under ‘Puma’ brand.
|
`10.01 Crore (approx)
(US$ 1.66 Million)
|
SBRT
|
|
Sl. No.
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Name
of the applicant
|
Particulars of the proposal
|
Sector
|
|
1
|
M/s
India Value Fund IV
(No.
FC.I-265/2013)
|
Proposal seeking approval for downstream
investment in M/s Atria Convergence Technologies Private Limited, an internet
service provider and holds downstream investment in companies engaged in internet
service provider and multi system operator for cable network.
|
IT & ITES
|
|
2
|
M/s Life Positive Private Limited
[No. FC.II – 49(2013)/70(2013)]
|
Proposal for Increase in foreign equity
participation from the existing 96% to 99% of the equity of the Company and
induction of further FDI of Rs. 4,60,75,900 by the foreign collaborators.
|
Print Media
|
3. The
following 1 (One) proposals has been rejected:
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Sl. No.
|
Name of the applicant
|
Particulars of the
proposal
|
Sector
|
|
1
|
M/s Veritas (India) Limited, Mumbai
(No. 121/2011-FC-I)
|
Post-facto approval for issue of warrants to
foreign collaborators in a company engaged in trading of metals and chemicals
products.
|
Others
|
4. In
respect of following 01 (One) proposal, the recommendation is to advise the
applicant that the proposal does not lie before FIPB:
|
Sl. No.
|
Name
of the applicant
|
Particulars of the
Proposal
|
Sector
|
|
1
|
M/s
Aluchem Inc. USA
(No.76/2013-FC.I)
|
A USA based company (M/s Aluchem Inc) and M/s
Porocel International LLC propose to change the purpose of funds, provided to
an Indian company (M/s Aluchem India Ltd, Kolhapur & M/s Dharti
Minerals), from advances against future production to foreign direct
investment.
|
Others
|
5. In
respect of following 01 (One) proposal, the recommendation is to advise the applicant
that the proposal falls under automatic route:
|
Sl. No.
|
Name
of the applicant
|
Particulars of the
Proposal
|
Sector
|
|
1
|
M/s Punarvasu Holding & Trading Company
Private Limited, Mumbai
(No.
62/2014-FC-I)
|
M/s Punarvasu Holding & Trading Company
Private Limited- an NBFC registered with RBI has sought approval for transfer
of its entire share (100%) to M/s Shree Shubham Logistics ltd, an Indian
company with 10% foreign shareholding.
|
NBFC
|
6. In
respect of 01 (one) proposal, the recommendation is to advise the applicant
that the proposal is partly covered under automatic route while rest of the
proposal is not covered under FDI:
|
Sl. No.
|
Name of the applicant
|
Particulars of the
proposal
|
Sector
|
|
1
|
M/s Diabu Diamond Tools (India) Private
Limited, Bangalore
(No. 47/2014-FC-I)
|
Post facto approval has been sought by M/s
Diabu Diamond Tools (India) Private Limited for the shares allotted to M/s
DiabuDiamanterkzeuge Heinz ButtnerGmbh, Germany against over delayed
payables, in terms of royalty, technology transfer fee and raw material
import.
|
Others
|
7. The
following 01 (One) proposal has been recommended for the consideration of CCEA,
as the investment involved in the proposals is above
` 1200.00 crore.
` 1200.00 crore.
|
Sl. No
|
Name of the
applicant
|
Particulars of
the proposal
|
Proposed Amount of FDI
(in ` Crore)
|
Sector
|
|
1
|
M/s Medreich
Limited
[No. FC.II – 137(2005)/138(2005)]
|
An Indian pharma
company is seeking approval to increase foreign investment upto 100% in its
paid up capital and direct foreign investment in its subsidiaries.
|
` 1800 crore
|
Pharma
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