Government approves 25 FDI proposals worth Rs. 2974 Crore!

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Government of India has approved 25 proposals for Foreign Direct Investment based on the recommendations given by Foreign Investment Promotion Board (FIPB) in its meeting held on May 9, 2012.

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The 25 FDI proposal which have been approved amount to total of Rs. 2973.40 Crore. 13 FDI proposals were deferred, 8 proposals were rejected, 2 proposals were withdrawn and 1 proposal was advised to access automatic route.

Here are details of 25 FDI proposals that were approved:

Sl. No. Name of the applicant Particulars of the proposal FDI/NRI inflows 
(Rs. In crore)
1 Mr. Ranjit Shridhar  Shetty, Karnataka To form an LLP with induction of foreign equity to undertake the whole sale trading, export and import of various products. 0.02
2 M/s Mamta Vijay, Delhi To form an LLP with induction of foreign equity to undertake the wholesale trading in high technology testing equipment and high precision calibration standards. 0.5
3 M/s Ness Mauritius, Mauritius and M/s Ness Technologies (East) B.V., Netherlands To form an LLP with induction of foreign equity to undertake the business of software development & IT enabled Services. 0.01
4 M/s AIF III Sub Pvt. Ltd., Mauritius Induction of foreign investment in the units of a Fund constituted as a Trust. 1000
5 M/s Sun Pharma Research Company Limited, Mumbai Induction of foreign equity by way of issue of partly paid up shares to carry out the development of new proprietary drugs. 10
6 M/s Bloomsbury India UK Limited, UK Induction of foreign equity to carry out the business of publishing/printing of books on fiction and non-fiction, electronic publishing, wholesale & retail trading, periodicals books, academic, research and other journals and directories, etc. 9.38
7 M/s NGC Network (India) Pvt. Ltd., Haryana To undertake the activity relating to uplink and downlink of television channels for non-news and current affairs through internal accruals. Nil
8 M/s Health Media Publishing Private Ltd. Induction of foreign equity to carry out the business of publishing magazines & periodical journals in the area of healthcare & overall wellness. Nil
9 M/s Capitaretail Jalandhar Mall (Mauritius) Ltd., Mauritius NR-NR transfer of shares of company is engaged in the business of construction and development of commercial malls in India on account of reorganisation of the foreign investor group companies within three years lock in period.  117.00 (already brought)
10 M/s Goyal & Co. (Const.) Pvt. Ltd., Ahmedabad Post facto approval for issuance of partly paid up shares to carry out the business of construction and development of land and construction of various Residential and Commercial Schemes. 3.45 (already brought)
11 M/s Mozart Limited, Mauritius Induction of foreign investment in the existing company in the pharmaceuticals sector (brownfield investments). 300
12 M/s Genworth Financial Mortgage Guaranty India Pvt. Ltd. Induction of additional foreign equity in company engaged in the business to offer mortgage guaranty products that provide residential mortgage credit default protection in the Indian market to residential mortgage lenders (primarily banks financial institutions). 124
13 M/s Euronet Services Pvt. Ltd. Ex-post facto approval for the foreign investment made till date in the company and to cover the activity of ‘cashnet’, a shared ATM network.  Nil
14 M/s Allergan Health Care India Pvt. Ltd. The Scheme of Amalgamation of company engaged in the pharmaceutical sector approved by the High Court of Karnataka.  NA
15 M/s Indusind Media & Communication Ltd. Conversion of 7-year Cumulative Non-Convertible Redeemable Preference shares into equity to carry out the business of Cable Network Distribution. Nil
16 M/s Ankur Drugs and Pharma Ltd., Mumbai To issue warrants to carry out the business of manufacturing of pharmaceutical formulations. 40
17 M/s Sunraj Diamond Exports Limited, Mumbai Transfer of shares by way of share swap to carry out the business of cleaning, polishing and selling of Diamonds. Nil
18 M/s SNC-Lavalin Mauritius Limited, Mauritius Induction of foreign equity in an investing company. 51.02
19 M/s Plethico Pharmaceuticals Limited, Mumbai Issue of foreign currency convertible bonds to carry out the business of drug discovery and development. 500
20 M/s Catvision Limited, Noida To increase foreign equity participation to carry out the business of manufacture of CATV equipment, selling CATV equipment like Dish Antenna, other CATV equipment, cables, energy management equipment and repair of apparatus for television transmission, other business services. 0.98
21 M/s Kintetsu World Express (India) Pvt. Ltd., Karnataka Induction of foreign equity to carry out the business of express distribution, supply chain and third party logistics services. 267.69
22 M/s Microqual Techno Ltd., Mumbai Increase in foreign equity to carry out the business of wireless telecommunications. 522.9
23 M/s Nilayami Realtors Private Limited, Mumbai Post-facto approval for issuance of partly paid up shares. 21.47  (already brought)
24 M/s Hughes Communications India Ltd. To make downstream investment to carry out the activity of rendering online and interactive skill development, vocational programmes and other training programmes. No Inflow
25 M/s ISG Onboard Enterprises US Ltd., New York To set up a WoS company for undertaking the activities of (i) sale of duty free goods to passengers on international flights of India bases airlines; and (ii) sale of duty free goods to India based airlines for onward sale to passengers by such India based airlines on international flights and related activities.  5

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