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14 FDI proposals worth Rs. 1310 crore cleared by Govt.

The Foreign Investment Promotion Board (FIPB), the body that assesses and approves the Foreign Investment proposals in India has cleared 14 FDI proposals worth Rs. 1310 crore. Six proposals have been deferred, while three FDI proposals were rejected by the Board.

The largest proposal approved was for Mumbai based Hindustan Port Pvt. Ltd., who will receive foreign investment infusion of Rs. 440 of for making downstream investment in other Indian companies.

FDI proposal approvals


14 FDI proposal that were approved by FIPB

Sl. No. Name of the Applicant Particulars of the proposal FDI/NRI inflows (Crore)
1 M/s Kama Schachter Jewelry Pvt. Ltd., Mumbai Post facto approval at the instance of RBI for having made a downstream investment in Oct 2007 in the field of import & export of diamonds. Nil
2 M/s Saurav Chemicals Ltd., Punjab An existing pharma sector company to issue fresh equity shares to a foreign company. 14.85
3 M/s Aanjaneya Lifecare Limited, Mumbai An existing pharma company to issue Foreign Currency Convertible Bonds to eligible foreign investors. 405
4 M/s Gavis Pharma LLC., USA To invest in an Indian company engaged in the business of development and manufacture of injectable products and Sterile Ophthalmic preparations for the Indian and other regulated markets. 73.75
5 M/s Syngene International Limited, Bangalore Induction of foreign equity to carry out the business of contract research and development services to third parties engaged in the pharmaceutical, nutrition and material science industries under fee-for-service commercial arrangements. 125
6 M/s Hindustan Port Pvt. Ltd., Mumbai To act as an investing company and receive foreign investment for making downstream investment in other Indian companies. 440
7 M/s Capita Retail Mysore Mall (Mauritius) Limited, Mauritius The foreign company having invested in Construction & Development Sector has applied for approval to transfer shares within the group companies (NR to NR) prior to completion of lock-in-period for the sector. Nil
8 M/s Capita Retail Mangalore Mall (Mauritius) Limited, Mauritius The foreign company having invested in Construction & Development Sector has applied for approval to transfer shares within the group companies (NR to NR) prior to completion of lock-in-period for the sector. Nil
9 M/s Capita Retail Mangalore Mall (Mauritius) Limited, Mauritius The foreign company having invested in Construction & Development Sector has applied for approval to transfer shares within the group companies (NR to NR) prior to completion of lock-in-period for the sector. Nil
10 M/s Ordain Health Care Global Private Limited Acquisition of manufacturing facility of one of its own group pharma companies and to receive fresh FDI thereby increasing the foreign investment from 60% to 100%. 40
11 M/s Arshiya International Pvt. Ltd. Ex-post-facto approval for issue of warrants to carry out the business of providing logistics solutions, integrated supply chain and logistics infrastructure services. 2
12 M/s Man Chung Lim Granites India Pvt. Ltd. To issue equity shares against foreign remittance made as ‘pre-operative expenses’ for security deposit and import of machinery for raising, purchase and export of Granite stones under 100% EOU scheme. Nil
13 Mr. Christoph Heinrich Sievers, Switzerland Induction of foreign equity in an LLP to carry out the business of Consultancy services. 0.0025
14 M/s Excedo Reality Fund-I Acting through its Investment Manager Athamus Venture Management Pvt. Ltd., Bangalore To accept contribution and investment from NRIs from various countries to carry out the business in development of Township, Housing, Built up infrastructure and Construction Development projects in compliance with FDI Policy. 210


About Arun Prabhudesai

Arun Prabhudesai is founder / chief editor at trak.in. He jumped the Entrepreneurship bandwagon in early 2008 after a long 13 year stint in I.T Industry. You can follow him on twitter @trakin and Facebook. Arun’s Google+ Profile

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