Professional Documents
Culture Documents
11(1)/2008FIPB
GovernmentofIndia
MinistryofFinance
DepartmentofEconomicAffairs
(FIPBUnit)
*****
NorthBlock,NewDelhi110001
Datedthe26thNovember,2008
PRESSRELEASE
BasedontherecommendationsofForeignInvestmentPromotionBoard(FIPB)initsmeeting
heldon18thNovember,2008,FinanceMinister,ShriP.Chidambaramhasapproved32Proposalsof
Foreign Direct Investment amounting to Rs. 845.70 Crore approximately. The proposals relate to
Ministries/Departments, namely,Commerce,Economic Affairs, Information & Broadcasting, Mines,
Road Transport & Highways, Telecommunication, Industrial Policy & Promotion, Power, Urban
Development,andShipping.
Sd/
(P.K.Bagga)
OSD(CM&I)
23094172
Email:pk.bagga@nic.in
To
TheDeputyDirectorGeneral(M&C)
(ShriB.S.Chauhan)
MinistryofFinance
Copyto:
1.
PPStoJS(FT)
2.
NIC(DEA)
3.
FacilitationCounter
4.
DIPP(FDIDataUnit)
DetailsofProposalsconsideredintheForeignInvestmentPromotionBoard(FIPB)Meetingheldon
18.11.2008
Following32(Thirtytwo)caseshavebeenapproved.
Sl. Nameoftheapplicant
No.
Particularsoftheproposal
FDI/NRIinflows
(Rs.InCrore)
COMMERCE
1 M/sA.Y.N.Accessories
TradingLtd.,(2)M/s
BODOJagdbergHong
KongLtd.,HongKong
2 M/sAllerganInc.USA
3 Mr.PawanSukhdev
TransferofsharestoNRIinTeaplantationsector.
0.50
0.51
1.95
ECONOMICAFFAIRS
4 M/sReid&Tailor(India) Toallotandissueequityshareswarrants.
Ltd.,Mumbai
5 M/sIL&FSWaste
Management&Urban
ServicesLtd.,NewDelhi
6 M/sOrientalStructural Transferofsharestosetupaholdingcompany.
EngineersPvt.Ltd.,New
Delhi
108.33
5.33
450.00
7 M/sOilIndiaLtd.,Noida Conversionofoperatingcompanyintoanoperatingcum
holdingcompanyandIPOissue.
Notindicated
9.52
9 M/sTrueDevelopersPvt. Conversionofoperatingcompanyintoanoperatingcum
Ltd.,Chennai
holding company to make further downstream NoFreshInflow
investment.
10 M/sTransUnion
InternationalInc.USA
2.49
Mumbai
alsoattractsPressNote1of2005.
12 M/sMorganStanleyIndia Conversionofoperatingcompanyintoanoperatingcum
CapitalPvt.Ltd.,Mumbai holding company to make further downstream NoFreshInflow
investmenttocarryouttheprimarydealershipactivities.
13 M/sAmtechSoftware
Pvt.Ltd.,Delhi
Conversionofoperatingcompanyintoanoperatingcum
holding company to make further downstream
investment.
14 M/sORGInformaticsLtd., PostFactoapprovalforissueofequitysharewarrants.
Gurgaon
15 M/sADEATechnologies
Pvt.Ltd.,Secunderabad
Transferofsharesbywayofshareswap.
16 Dr.OetkerIndiaPvt.Ltd. Conversionofoperatingcompanyintoanoperatingcum
Mumbai
holding company to make further downstream
investment.
25.00
7.19
NoFreshInflow
110.40
INFORMATION&BROADCASTING
17 M/sTelevisionEighteen
IndiaLtd.
ToLaunchthreenewregionalbusinessnewschannels.
18 M/sConnoisseur
PublishingPvt.Ltd.,
Bangalore
ToinductFDIupto100%inprintmediasector.
19 M/sReedElsevier
OverseasB.V.,
Netherlands
0.05
20 M/sHill&Knowlton,
Singapore
TosetupaWoS.TheproposalattractsPressNote1of
2005.
0.10
2.20
NoFreshInflow
0.01
MINES
21 M/sLaviosaChimica
MinerariaS.P.A.Italy
ROADSTRANSPORT&HIGHWAYS
22 M/sVijaywadaTollway
Pvt.Ltd.,Hyderabad
Inductionofforeignequityinacompany.Theproposal
attractsPressNote1of2005.
15.00
INDUSTRIALPOLICY&PROMOTION
23 M/s.Cholamandalam
DBSFinanceLtd.
Postfactoapprovalforallotmentofwarrantstoexisting
NoFreshInflow
nonresidentshareholders.
INFORMATION&BROADCASTING
24 M/s.VijayTelevisionPvt. Tomakedownstreaminvestmentinacompanyengaged
NoFreshInflow
Ltd.
inUplinkingaNonNewscurrentaffairTVchannels.
25 M/s.StarIndiaPvt.Ltd.
ECONOMICAFFAIRS
26 M/s.GallagherMautitius TransferofsharesbywayofshareswapinITsector.
Holdings,Mauritius
27 M/s.PridhviAsset
Reconstructionand
SecuritizationCompany
NoFreshInflow
30.00
INFORMATION&BROADCASTING
28 M/s.YellowfinHoldings To set up a WOS to carry out the activity of publishing
Ltd.,Mauritius
printed magazines (not being newspapers and
periodicalsdealingwithnewsandcurrentaffairs).
0.01
TELECOMMUNICATION
29 M/s.XCELTelecomPvt.
Ltd.
NoFreshInflow
TosetupaWoStocarryouttherentingofconstruction
ofdemolitionequipment.
2.00
URBANDEVELOPMENT
30 M/s.DrillmecS.R.L.
Spain
INDUSTRIALPOLICY&PROMOTION
31 M/s.FederalMogulCorp To set up a new WOS to undertake Manufacture,
distribution and sale of sealing products and gaskets.
ProposalattractsPressNote1(2005series)
74.87
SHIPPING
32 M/s.CMACGMAgencies Postfactoapprovalforconversionofoperatingcompany
Worldwide
intoanoperatingcumholdingcompanytomakefurther
downstreaminvestment
2.
Thefollowing4(Four)proposalshavebeendeferred:
Sl. Nameoftheapplicant
Particularsoftheproposal
No
1 M/sGSRSugarsPvt.Ltd., Toissueshareoptionconvertibleintoequityshares.
Hyderabad
0.24
2 M/sLokmatNewspapers (i)InductionofFDIinacompanyengagedinPrintMedia,(ii)Conversion
Pvt.Ltd.,Mumbai
of operating company into an operating cum holding company to make
further downstream investment, and (iii) allotment of additional shares
pursuanttotheSchemeofdemergerofthepublicationbusinessthrough
aschemeofdemergertobeapprovedbytheHonbleBombayHighCourt.
3 M/sPrithviPrakashan
Pvt.Ltd.,Mumbai
4 M/sDowJones&
CompanyInc.,USA
3.
Thefollowing3(Three)proposalhasbeenrejected:
Sl.
No
Nameoftheapplicant
Particularsoftheproposal
1 M/s.Nagarjuna
ConstructionCo.Ltd.
TomakeamendmentintwoclausesoftheFCapprovalletter.
2 M/s.InuitU.S.Holdings
Inc.USA
3 M/s.DelightInvestments InductionofforeignequityintwoIndiancompaniesandtoconverttheir
PteLtd.,Singapore
statusfromoperatingcompanyintooperatingcumholdingcompanyfor
makingfurtherdownstreaminvestments
4.
Thefollowing2(Two)proposalshavebeenwithdrawnfromtheAgenda.
Sl.No
Nameoftheapplicant
M/s.AnsalProperties&InfrastructureLtd.,NewDelhi
M/s.JaipurMahuaTollwayPvt.Ltd.,Rajasthan