Rate of exchange of one unit of foreign currency equivalent to Indian rupees
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Sl.No.
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Foreign Currency
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Rate of exchange of one unit of foreign currency equivalent to Indian
rupees
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(1)
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(2)
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(3)
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(a)
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(b)
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(For Imported Goods)
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(For Export Goods)
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1.
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Australian Dollar
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51.50
|
49.75
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|
2.
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Bahrain Dinar
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185.00
|
172.65
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3.
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Canadian Dollar
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53.10
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51.45
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4.
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Danish Kroner
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10.25
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09.90
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5.
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EURO
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76.25
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73.70
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6.
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Hong Kong Dollar
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8.80
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8.55
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7.
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Kuwait Dinar
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230.55
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215.75
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8.
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New Zealand Dollar
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49.45
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47.75
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9.
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Norwegian Kroner
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8.25
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7.95
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10.
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Pound Sterling
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91.40
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87.15
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11.
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Singapore Dollar
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50.80
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49.20
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12.
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South African Rand
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4.75
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4.45
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13.
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Saudi Arabian Riyal
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18.55
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17.40
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14.
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Swedish Kroner
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8.15
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7.85
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15.
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Swiss Franc
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70.50
|
68.25
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16.
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UAE Dirham
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18.95
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17.75
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17.
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US Dollar
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68.20
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66.55
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18.
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Chinese Yuan
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10.25
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09.95
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1.
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Japanese Yen
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67.05
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64.85
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2.
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Kenya Shilling
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68.90
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64.40
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On the
recommendations of Foreign Investment Promotion Board, the Government approves
three FDI proposals involving FDI of Rs. 223.25 crore, and also approves one
proposal listed as a tabled item involving an FDI of Rs. 420 crore.
Based on the
recommendations of the Foreign Investment Promotion Board (FIPB) in its 236th
Meeting held on 10th June 2016, the Government has approved three (03) FDI
proposals involving FDI of Rs. 223.25 crore, and also approved one proposal
listed as a tabled item involving an FDI of Rs. 420 crore.
The following three
(03) proposals have been approved:
|
S. No
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Item No
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Name of the applicant
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Gist of the proposal
|
Sector
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FDI (Rs. crore)
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|
1
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3
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M/s Corona Remedies Private Limited
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A Pharmaceutical company has sought approval for foreign investment of
19.51% by M/s Cydista Ltd., Mauritius by way of:
i. Subscription of compulsorily convertible preference shares of the value of Rs. 100 crore and ii. Purchase of equity shares from existing shareholders of the value of Rs. 18 crore. |
Pharma
|
118.00
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2
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11
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M/s Ordain Health Care Global Pvt Ltd
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Approval for the acquisition of certain intellectual property of Klar
Sehen Private Limited to certain products, by way of a business transfer on a
slump sale basis.
|
Pharma
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77.05
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3
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14
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M/s Macmillan Publishers International Ltd, UK
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Approval has been sought for foreign investment of up to 100% in a new
company (‘New Co.)’, proposed to be incorporated in India.
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The following eight (08) proposals have
been deferred:
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S. No.
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Item No
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Name of the applicant
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Gist of the proposal
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Sector
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|
1
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2
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M/s Oxigen Services Pvt Ltd
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Approval has been sought for removal of clause no.
4,5,7,10 & 11 of FIPB Approval No 10(2012)/168(2011) because the activity
of the company is 100% under Automatic Route. Therefore, the terms and
conditions mentioned under aforesaid clauses are not applicable on the
company.
|
NBFC
|
|
2
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4
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M/s You Broadband India Limited
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Post facto approval for acquisition of 9,79,875 equity shares of
its downstream company M/s Digital Outsourcing Private Limited (DOPL) in lieu
of issue of 20,58,759 equity shares to its resident shareholders by way of
swap of shares.
|
Telecom
|
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3
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5
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M/s Diabu Diamond Tools (India) Pvt.
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Post facto approval has been sought for conversion of Rs.
94,78,475/- payable to M/s. Diabu Diamantwerkzeuge Heinz Beuttner GmbH into
42,127 equity shares
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Wholesale trading
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|
4
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6
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IBM India Pvt Ltd
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i. Merger of its 4 WoS into its another WoS, Sterling Commerce
Solutions Private Limited which is an investing company.
ii. Post-facto approval for Telelogic India Private Limited to act as an investee company which is holding investments in IBM Business Consulting Services Private Limited till its merger into Sterling India iii. Post facto approval for Network Solutions Private Limited for holding 2 shares in Telelogic India. iv. Post facto approval for 4 WoS for acting as dormant companies, after transfer of software development business to their holding company, IBM India. v. Post facto approval for 4 WoS for acting as dormant companies, after transfer of software development business to their holding company, Telelogic India |
Investing company
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|
5
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7
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Samara Capital Partners Fund II Limited
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i. Purchase of 100% of the shareholding of Adcock Ingram Healthcare
Private Limited from Adcock Ingram Healthcare (Pty) Ltd and Adcock Ingram
International (Pty) Ltd, and
ii. upon completion of the aforesaid acquisition of AIHPL by the applicant, approval from the FIPB for the downstream investment of Rs. 10 crore by AIHPL in Oaknet Life Sciences Private Limited (Oaknet), a brownfield pharmaceutical company |
Pharma
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|
6
|
10
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DCNS
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Approval has been sought by DCNS to set up a company in India
(IndiaCo) for the purposes of conducting the business of undertaking design
and industrialization studies, research and development activities and
manufacturing and maintenance in relation to air independent propulsion
systems for submarines.
|
Defence
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|
7
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12
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M/s Tikona Digital Networks Pvt Ltd
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Approval has been sought for the issuance of CCDs thereby increasing
foreign equity to 76.73%
|
Telecom
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|
8
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13
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Janalakshmi Financial Services Limited
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Janalakshmi Financial Services Limited has sought an approval for swap
of shares
|
NBFC
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The following two (02) proposals have been rejected:
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S. No.
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Item No
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Name of the applicant
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Gist of the proposal
|
Sector
|
|
1
|
1
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M/s Flag Telecom Singapore Pte
Limited, Singapore
|
An indirect wholly owned subsidiary
of Reliance Communications (RCOM), India has sought approval for setting up
a 100% subsidiary telecom company, which is yet to be incorporated.
|
Telecom
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2
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8
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Star Den
Media Services Private Limited
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Approval has been sought for
changing its business activities from providing the services to broadcasters
for placement of television channels to acting as an Investing company only
|
Proposed-Investing company
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The following one
(01) proposal was filed as a proposal, it was examined as a downstream
intimation as per request of the applicant. Appropriate directions were issued
to FIPB Secretariat by the Board after such examination. This proposal will be
categorized as an intimation.
|
S. No
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Item No
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Name of the applicant
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Gist of the proposal
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Sector
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|
1
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9
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M/s Bayer Vapi Private Limited
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Post facto approval for share
transfer of 3,08,166 equity shares (0.87% of the total capital) of INR 10
each fully paid up for cash at a consideration of INR 3,569.50 per share
among two promoters of M/s Bayer CropScience Limited (BCSL) through a Block
Deal Transaction.
|
Manufacturing
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The following one (01) proposal was listed as a tabled item:
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S. No
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Name of the applicant
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Gist of the proposal
|
Sector
|
FDI (Rs crore)
|
|
1
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Advanced Enzyme Technologies Ltd
|
The proposal of Advanced Enzyme
Technologies Ltd for investment proposed to be made by
FIIs/NRIs/FPIs/QFIs/AIFs/FVCIs pursuant to fresh issue and offer for sale by
certain NRIs, foreign company, and resident shareholders was considered in
the 234th meeting held on 29.4.16, wherein foreign equity of
60.39% and aggregate consideration of Rs. 60 crore was approved. However,
the applicant conveyed that the maximum total issue size shall be Rs. 480
crore and not Rs. 60 crore. Therefore, the matter was placed before
the Board, which recommended that the information be taken on record, and
the Government, accordingly, approved the same.
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Pharma
|
420
|
Income Computation and Disclosure Standards (ICDS) notified under
Section 145 (2) of the Income -tax Act, 1961 to be applicable from 1stApril,
2016
Vide Notification No. SO 892 (E) dated
31st March, 2015, the Central Government notified 10 Income Computation and
Disclosure Standards (ICDS). These ICDS are applicable from 1.4.2015 i.e.
previous year 2015-16 (Assessment Year 2016-17). Subsequent to notification of
the ICDS, a number of representations were received which were examined by an
Expert Committee. The Committee has recommended amendments to the notified ICDS
and also issuance of clarification in respect of certain points raised by the
stakeholders.
The revision of ICDS/issue of clarifications as recommended by the Committee, is under consideration. The revision of the Tax Audit Report is also being made for ensuring the compliance with the provisions of ICDS and for capturing the disclosures mandated by the ICDS.
Some of the tax payers might have filed their return of income and obtained Tax Audit Report without incorporating the compliance with the ICDS and related disclosures in the absence of the revised Tax Audit Report. Considering these facts, it has been decided that the ICDS shall be applicable from 1.4.2016 i.e. previous year 2016-17 (Assessment Year 2017-18). The notification to this effect will be issued shortly.
The revision of ICDS/issue of clarifications as recommended by the Committee, is under consideration. The revision of the Tax Audit Report is also being made for ensuring the compliance with the provisions of ICDS and for capturing the disclosures mandated by the ICDS.
Some of the tax payers might have filed their return of income and obtained Tax Audit Report without incorporating the compliance with the ICDS and related disclosures in the absence of the revised Tax Audit Report. Considering these facts, it has been decided that the ICDS shall be applicable from 1.4.2016 i.e. previous year 2016-17 (Assessment Year 2017-18). The notification to this effect will be issued shortly.
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