Government Approves Two Proposals of Foreign Direct Investment (FDI) Amounting to About Rs. 97.85 Crore
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Further to para 7 of the Press Release dated October 25, 2013, wherein it was stated that decision about the five (5) proposals will be communicated separately, the Government of India has approved two (2) proposals of Foreign Direct Investment (FDI) amounting to Rs. 97.85 crore.
Following two (2) proposals have been approved:
|
|
Sl. No |
Name of theapplicant |
Particulars of the proposal |
FDI/NRI inflows (Rs. in crore) |
|
1 |
M/s Acebright(India) Pharma Pvt. Ltd., Karnataka |
A foreign owned Indian pharma company to receive additional foreign investment by way of fresh issue and transfer. Post-facto approval is also sought for an earlier transfer. |
95.00 |
|
|
2 |
M/s AerriantaInternational CPT, Ireland |
To set up a 50:50 JV company to engage in running duty free shops at Mumbai airport. |
2.85 |
|
The following one (1) proposal has been deferred:
|
Sl. No |
Name of theapplicant |
Particulars of the proposal |
|
1 |
M/s AU Housing Finance Limited, Jaipur |
An Indian Housing Finance Company proposes to increase direct and indirect foreign investment upto 95%, without meeting the minimum capitalization norm of USD 50 million. |
In the following one (1) proposal, the applicant may be given clarification:
|
Sl. No |
Name of the applicant |
Particulars of the proposal |
|
1 |
M/s Brampton Pvt. Ltd. |
Clarification regarding limit on percentage of shareholding to be held either by Indian partner or foreign partner for forming the joint venture company. |
Decision in the following one (1) proposal has been kept in abeyance:
|
Sl. No |
Name of theapplicant |
Particulars of the proposal |
FDI/NRIinflows (Rs. incrore) |
|
1 |
M/s ManipalTechnologies Ltd., Karnataka |
Induction of foreign investment in order to invest in the subsidiary to enter into cards payment system management and processing services for all kinds of alternate delivery channels including ATM. |
154.04 |
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