16 FDI Proposals Worth Rs. 923.55 Crore Approved

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on May 20, 2011, the Central Government has approved 16 Proposals of Foreign Direct Investment (FDI)  amountingto Rs.  923.55 crore approximately.

Following 16 (Sixteen) proposals have been approved.


Sl. No. Name of the applicant Particulars of the proposal FDI/NRIinflows (` In crore)


1 M/s Global Gourmet Pvt. Ltd., Gujarat Ex-post facto approval for issue of shares on partly paid basis to undertake processing of all kinds of vegetarian foods/ non-vegetarian foods and beverages. 4.8


2 M/s Vogel Business Media India Pvt. Ltd., Mumbai Induction of FDI up to 100 per cent to carry out the business of publishing/ printing of scientific and technical magazines/ specialty journals/periodicals. 0.01


3 M/s Oasis Shipping Pvt. Ltd., Mumbai Ex-post-facto approval for conversion of operating company into operating cum investing company. Nil


4 M/s Tredegar Film Products India Pvt. Ltd., Mumbai To allot equity shares in lieu of amount paid by the foreign parent company for purchase of plot prior to incorporation of the Indian WoS.  The Indian company is engaged in the manufacturing of non woven laminate films for packaging. Nil


5 M/s What™s On India Media Pvt. Ltd. Induction of foreign equity by way of issue of preference shares to carry out the business of TV channel license for up-linking a non-news and current affairs TV channel. 0.99
6 M/s Star News Broadcasting Ltd. (Touch Tele Content (I) Ltd.) Ex post facto approval on the advice of RBI.  The company is engaged in the business of providing support services to other media companies and to undertake the business of creating owning and distributing non news and current affairs television channels. No Fresh Inflow


7 M/s Vivimed Labs Ltd., Bangalore Ex-post-facto approval for issue of warrants to undertake manufacturing of organic chemicals and pharmaceuticals. 3.75


8 M/s Park Controls &Communications Ltd., Bangalore Ex-post-facto approval for induction of foreign investment to carry out the defence related activity. 0.10


9 M/s Telephoto Entertainments Ltd.,(Name changed to M/sPicturehouse Media Ltd.) Tamil Nadu To issue warrants to carry out the business of film and entertainment industry. 5.00


10 M/s Selan Exploration Technology Ltd., Delhi Ex-post-facto approval for issue of warrant to carry out the business of onshore oil and gas production. 1.81


11 M/s Goshi India Auto Parts Pvt. Ltd., Delhi & Haryana To convert the Suppliers Credit (Machinery Loan) into equity shares to carry out the business ofmanufacturing and distribution of spare parts. No Fresh Inflow


12 M/s Soma TollwaysPrivate Limited, Andhra Pradesh Induction of foreign investment in an investing company. 500.00


13 M/s Mango Holding Limited, Bangladesh To subscribe to equity shares of an Indian companyengaged in the business of manufacturing and Supplyof Wireless Equipment by a company fromBangladesh. 3.33


14 M/s Omega IceHillPvt. Ltd. To issue shares for consideration other than inward remittances. 3.76


15 M/s Centum Electronics Ltd., Bangalore To undertake additional activities related to defence sector. No Fresh Inflow


16 M/s L&T Finance Holdings Ltd. Permission for Pre-IPO placement of equity shares with eligible non- resident investors. 400.00


The following 14 (Fourteen) proposals have been deferred:


Sl. No Name of theapplicant Particulars of the proposal
1 M/s Indian Rotorcraft Ltd., Mumbai Induction of foreign equity to carry out the business of final assembly of both military and civil versions of helicopters.
2 M/s Ashwell Holding Company Pvt. Ltd., Mumbai Induction of foreign equity to carry out the business of investing company.
3 M/s BNP Paribas S.A. Paris To set up a WoS to act as an investing company.
4 M/s SightLife USA To set up a 100 per cent Charitable Company under Section 25 of the Companies Act.
5 M/s Precision Electronics Pvt. Ltd. To undertake the additional activity in the defence sector.
6 M/s Hughes Communications India Ltd. To make downstream investment to carry out the activity relating to telecom sector.
7 M/s ASP Sealing Products Ltd. Ex post facto approval for transfer of shares   from NRI to NR on the advice of RBI.
8 M/s NCBG Holdings, Inc., Cayman Islands Induction of foreign equity in an Indian company to undertake the manufacturing of wiring sets including wiring sets of a kind used in vehicles, aircraft, ships or other machinery used in defence industry.
9 M/s Natixis Global Asset Management, France To invest by way of indirect foreign investment in Pension Fund Subsidiary.
10 M/s Pran Beverages (India) Pvt. Ltd., Kolkata Induction of foreign equity by a company from Bangladesh.
11 M/s Checkmate Services Pvt. Ltd., Gujarat Induction of foreign equity in a company engaged in privatesecurity services.
12 M/s Southern CNG Automobiles India Pvt. Ltd., Kolkata Induction of foreign equity in by a company from Bangladesh.
13 Mr. M. RezaulHassan and Ms.Monnujan Nargis, Bangladesh Ex post facto approval to set up a WOS to undertake the businessof Software development Services by citizens of Bangladesh.
14 M/s InterglobeEnterprises Ltd. To amend Clause 4 of FC approval relating to approval area of activity.


The following 7 (Seven) proposals have been rejected:


Sl. No Name of theapplicant Particulars of the proposal
1 M/s Reynders Label Printing India Pvt. Ltd., Delhi & Haryana To issue Fully and Compulsorily Convertible Bonds against the outstanding amount lying in books as Advance against Exports™ and Creditors for capital goods and services- foreign counterpart™ to carry out the business of Printing of labels, booklets, etc.
2 M/s Status Infin (India) Pvt. Ltd., Hyderabad Induction of foreign equity in an investing company providing finances to companies engaged in power, infrastructure and emerging sectors in India.
3 M/s AnuradhaHoldings Pvt. Ltd., Bangalore Transfer of shares by way of share swap to carry out the business of project development, consultancy and management activities.
4 M/s Assystem IndiaPvt. Ltd., Bangalore Conversion of advance for the execution of future project into equity shares to carry out the business of engineering services and application oriented research in various engineering, information and communication technologies primarily in Aerospace, Automotive and Energy.
5 M/s AOS Holding India S.A.S. France To set up a JV company to undertake the business of Real estate agents, brokers and managers engaged in renting, buying and selling, managing and appraising real estate on a contract or fee basis. Architectural and engineering and other technical consultancy activities.
6 M/s Amrit Jal Venture Pvt. Ltd.


Transfer of shares by way of swapping equity shares  in lieu of acquisition of existing  investments  of foreign collaborator held in the three SPVs.
7 M/s I-Velozity India Pvt. Ltd. To make an amendment in clause 2 of existing FC approval to allow for undertaking additional activities.


The following 02 (Two) proposals have been withdrawn from the Agenda.


Sl. No Name of the applicant
1 M/s Gebr. Ewald GmbH, Germany
2 M/s First Apex Software Technologies Pvt. Ltd.

The following 02 (Two) proposals have been withdrawn from the Agenda on the request of the applicants.


Sl. No Name of the applicant
1 M/s PTC India Financial Services Ltd., Delhi & Haryana
2 M/s Tata Steel Ltd.


The following 01 (One) proposal has been recommended for the consideration of CCEA, as the investment involved in the proposal is above Rs.  1200.00 crore.


Sl. No Name of theapplicant Particulars of the proposal FDI/NRI inflows

(` In crore)

1 M/s Cals Refineries Ltd., Delhi & Haryana To issue equity shares in the form GDRs against supply of refinery equipment. 1425.00

(against import of second hand machinery)


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