9 FDI proposals approved

Sl. No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows (Rs. In Crore)

1

M/s Mitsui & Co. Ltd., Japan

To set up a (i) WOS and (ii) JV company.  The proposal attracts Press Note 1 of 2005.

326.00

2

M/s Mold-Tek Technologies Ltd., Andhra Pradesh

To allot equity shares against the value of Assets.

Nil

3

M/s R K Swamy BBDO Pvt. Ltd., Chennai

Induction of foreign equity         in a company engaged in the advertising activity.  The proposal attracts Press Note 1 of 2005.

1.275

4

M/s SN Power Holding Singapore Pte. Ltd., Singapore

To set up joint venture companies with 50% foreign equity in India to set up hydro power projects.  The proposal attracts Press Note 1 of 2005.

Not Indicated

5

M/s Ramani Hotels Ltd.

To issue shares for consideration other than cash.

Nil

6

M/s  Diageo Radico Distilleries Pvt. Ltd.

(i) To increase the foreign equity participation from 50% to 100% in a company engaged in the manufacturing Indian made foreign liquor (IMFL). The proposal attracts Press Note 1 of 2005.

(ii)  Ex-post facto approval for violation of the Press Note 1 of 2005.

Nil

7

M/s Internet Global Services Pvt. Ltd.

To invest in Non-convertible Redeemable Preference shares capital out of internally accrued funds.

100.00

8

M/s Goldman Agent Pvt. Ltd.

To make foreign investment in an investing company.

93.00

9

M/s Premiere Conferencing (Ireland) Ltd., Ireland

To set up a wholly owned subsidiary to undertake the business of providing audio/ web conferencing and collaboration services and data communication services in India.

3.43

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Kirkstone India Pvt. Ltd., Delhi

To issue shares against the pre-incorporation expenses.

2

M/s India Infrastructure Development Fund Ltd., Mauritius, Mauritius

To issue units to FUND. 

3

M/s Visa Infrastructure Ltd., Kolkata

To issue shares for consideration other than cash.

4

M/s Telstra Telecommunications Pvt. Ltd., Mumbai

To issue fresh equity shares for increasing FDI from 49% to 74% in a company engaged in the telecom services.

5

M/s Bharat Oman Refineries Ltd. (BORL)

To amend the FC approval.

6

M/s Verizon Communications India Pvt. Ltd.

Transfer of equity shares from non-resident shareholder to non-resident group in Telecom Sector.

7

M/s Telcordia Technologies Inc. USA

To review the proposal on the request of MHA.

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Zetatek Engineering Systems Pvt. Ltd., Hyderabad

To issue shares to the tune of 26% on a fully diluted basis with repatriation facility to carry out the activities in the defence sector.

2

M/s Southern CNG Automobiles Pvt. Ltd., Bangladesh

Increase in foreign equity by way of additional subscription of equity shares from Bangladesh.

3

M/s Shree Meenakshi Food Products Pvt. Ltd., Mumbai

To issue equity shares to undertake manufacturing of Pan Masala and other tobacco Products.

4

M/s Verint System India Pvt. Ltd.

To make amendment in the FC approval.

5

M/s Asha Micro Credit Ltd.

To induct foreign investment to undertake the activities relating to providing financial services for the up-liftment of poor and the downtrodden sections of the society.  The proposal does not meet the minimum capitalization norms.

Sl. No

Name of the applicant

Particulars of the proposal

FDI/NRI inflows (Rs. In Crore)

1

M/s Macquarie India Infrastructure Management Holdings Pte. Ltd., Singapore

To issue units to FUND. 

0.004

Sl. No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows (Rs. In Crore)

1

M/s Efkon India Pvt. Ltd., Mumbai

Post facto approval for change of status from operating company to operating-cum-investing company and to make downstream investment.

0.25