Foreign Investment Promotion Board Approves Fourteen FDI Proposals

The following 14 proposals amounting to Rs.1584.11 crore have been approved:

Sl. No.

Name of theapplicant

Particulars of the proposal

FDI/NRIinflows

(Rs.Incrore)

COMMERCE

1

M/s TakshilaTech Parks & Incubators (India) Pvt. Ltd., Hyderabad Approval has been sought for not meeting the condition of minimum capitalisation within six months from the commencement of business pursuant to re-classification of the activity of the company, from Industrial Development Park (Para 6.2.12) toConstruction Development: Townships, Housing, Built-up infrastructure.

182.50

ELECTRONICS & INFORMATION TECHNOLOGY

2

M/s RightsterLimited, London To set up an LLP to undertake the business of providing software development services.

0.87

FINANCIAL SERVCIES

3

M/s AbhijeetPower Limited, Maharashtra Induction of foreign equity in an investing company to make downstream investment.

674.00

4

M/s BajajFinserv Limited,Pune To issue and allot equity shares to carry out the business relating to NBFC activities directly and through subsidiaries under Rights Issue.

100.00

HEALTH & FAMILY WELFARE

5

M/s Uttam Super Brands LLP, New Delhi To set up an LLP with the induction of foreign equity participation to engage in making and selling of appliances such as breathing apparatuses/kits and fire extinguishing equipments and carbon fibre cylinders/or parts, consumables, components and accessories thereof such as valves, regulators, hoses, horns, trolley bags etc., related thereto.

0.05

6

M/s ShasunPharmaceuticals Limited, Tamilnadu Ex post facto approval for induction of foreign equity to carry out the activities relating to brownfield pharmaceuticals sector.

49.99

HOME AFFAIRS

7

M/s EurocopterIndia Pvt. Ltd., Delhi To undertake the additional activities relating to development of software and other allied IT enabled services such as engineering and designing in the defence sector.

No fresh inflow

INDUSTRAIL POLICY & PROMOTION

8

M/s RambollIndia Pvt. Ltd., Hyderabad Ex post facto approval for issuance ospartly paid up shares to carry out the business of tower engineering and tower related services in the infrastructure segments for both telecom and power transmission and software development sales and services of tower design detailing.

1.85

POWER

9

M/s BhilwaraEnergy Ltd Induction of foreign equity in an investing company.

2.55

DEFENCE PRODUCTION

10

M/s Track Systems India Private Limited, Tamil Nadu Induction of foreign equity to carry out the manufacturing, assembling, marketing, trading in defence sector

25.00

EXTERNAL AFFAIRS

11

M/s CLSA Singapore Holdings Pte Ltd., Singapore/ M/s CLSA Limited, Hong Kong Induction of foreign equity in an investing company to carry on the business of process outsourcing services for clients, both domestic and offshore.  Currently the Investor company is non functional.

225.00

INDUSTRIAL POLICY & PROMOTION

12

M/s NCBG Holdings Inc (DCX Cable Assemblies Pvt. Ltd. To undertake the additional activities in the defence sector.

No inflow

13

M/s MF GlobalSify Securities India Pvt. Ltd. Increase in foreign equity participation to carry out the business of commodity broking and Stock broking.

81.00

TELECOMMUNICATIONS

14

M/s NetmagicSolutions Pvt. Ltd. Increase in foreign equity upto 74 percent and induction of a new foreign collaborator to undertake the business of Internet Service Provider with gateways.

182.8

PIB 24JUL12

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