The Indian government has cleared 40 foreign direct investment proposals
Details of the proposals approved are as follows:
| Sl. No. | Name of the applicant | Particulars of the proposal | FDI/ |
COMMERCE
| 1 | M/s Sherwin-Williams Company, | To invest in the Indian subsidiary to enable the conducting of test marketing and to set up retail stores for carrying out the contemplated test marketing activities. | 2.40 |
| 2 | M/s S. Oliver Bernd Freler Gmbh & Co. | To acquire 50% equity for retail trading under single brand. | US$ 5 Million (Rs.24.90 Crore) |
ECONOMIC AFFAIRS
| 3 | M/s ILFS-ORIX Trust Company Ltd., Mumbai | To make investment from the Foreign Offshore Fund into the Trust and to issue units in the Trust to the offshore fund. | 400.00 |
| 4 | M/s Pegasus Assets Reconstruction Pvt. Ltd., Mumbai | To subscribe to equity shares at a price higher than the price determined as per the pricing guidelines issued by the RBI. | 51.66 |
| 5 | M/s Alied Digital Service Ltd., Mumbai | Transfer of shares by way share swap. | No Fresh Inflow |
| 6 | M/s INX News Pvt. Ltd., Noida | (i) To issue equity shares for making downstream investment to the extent of 26% of the issued and outstanding equity share in the equity share capital of the applicant company, and (ii) Indirect foreign investment to the extent of approximately 12.01% of its equity capital, from and out of the above 26% equity holding. | 26.00 |
| 7 | M/s Ashoka Buildcon Ltd., | Conversion of operating company into an operating cum holding company to make downstream investment. | 8.10 |
| 8 | M/s Spicejet Ltd, Gurgaon | Issuance of warrants having option to convert into equivalent number of equity shares on preferential basis in one or more trenches for providing domestic airline service in | 60.59 |
| 9 | M/s Athena Project Private Ltd., | Transfer of shares from Indian entity to NR. | 71.25 |
| 10 | M/s Croupier Prive | To make investment in commodity exchanges. | 47.57 |
| 11 | M/s Etisalat Software Solutions Pvt. Ltd., | Regularization of allotment of shares at a premium against the pre-incorporation expenses. | 0.92 |
| 12 | M/s Mahindra Holidays & Resorts India Ltd., Chennai | Conversion of operating company into an operating cum holding company to make downstream investment. | 12.37 |
| 13 | M/s Almondz Global Securities Ltd., | Post-facto approval for foreign equity participation by way of subscribing to fully convertible warrants convertible into equity shares. | 8.53 |
| 14 | M/s Forum Ventures Pvt. Ltd., Kolkata | Conversion of operating company into an operating cum holding company to make downstream investment. | 99.97 |
| 15 | M/s Louis Vuitton Malletier | Conversion of operating company into an operating cum holding company to make downstream investment. | 150.00 |
INDUSTRIAL POLICY & PROMOTION
| 16 | M/s Kaal Flex Pvt. Ltd. | To issue equity shares at a premium against the payment made for installation of plant and machinery and providing technical training. | No Fresh Inflow |
| 17 | M/s Armet Armored Vehicles ( | To set up a JV company to manufacture bodies (including Cabs) designed to be mounted on motor vehicles chassis for special purpose motor lorries, armoured cars etc. | 2.55 |
INFORMATION & BROADCASTING
| 18 | M/s Star CJ Network India Pvt. Ltd., Mumbai | To invest up to 100% to undertake the creation of television channels for the purpose of broadcasting and for distribution through media platforms. | 0.01 |
| 19 | M/s ISNI Electric Power Company Pvt. Ltd., | To issue and allot equity shares in consideration for Pre-incorporation expenses in power generation sector. | 0.69 |
URBAN DEVELOPMENT
| 20 | M/s U. DORI Engineering Works Corporation Ltd., | Conversion of operating company into an operating cum holding company to make downstream investment. | 125.00 |
ECONOMIC AFFAIRS
| 21 | M/s Marks & Spencer Plc | Conversion of operating company into an operating cum holding company. | No Fresh Inflow |
| 22 | M/s ABB Holdings ( | Merger and allotment of shares pursuant to the orders passed by the Hon’ble High Court of Karnataka. | No Fresh Inflow |
| 23 | M/s | To relax one of the conditions imposed in the approval letter, which requires the completion of the closure of Branch before allotting equity shares in discharge of consideration. | No Fresh Inflow |
| 24 | M/s Maanaveeya Holdings & Investments Pvt. Ltd. | (i) Removal of the one of the clause of the approval letter, and (ii) conversion of Redeemable Non Convertible Preference Shares into equity. | No Fresh Inflow |
INDUSTRIAL POLICY & PROMOTION
| 25 | M/s Philips Electronics India Ltd. | Conversion of operating company into an operating cum holding company to make downstream investment. | No Fresh Inflow |
| 26 | M/s Yamaha Motor India Pvt. Ltd. | Transfer of business operations and FC approval without transfer of equity. | No Fresh Inflow |
| 27 | M/s Barings India Ltd. (now known as Macquarie Capital Advisers ( | Conversion of operating company into an operating cum holding company to make downstream investment. | No Fresh Inflow |
INFORMATON & BROADCASTING
| 28 | M/s Asianet Communications Ltd. | De-merger and transfer of shares by way of share swap. | No Fresh Inflow |
INFORMATION & TECHNOLOGY
| 29 | M/s Balaji Telefilms Ltd. | Ex-post facto approval for conversion of operating company into an operating cum holding company to make downstream investment. | No Fresh Inflow |
| 30 | M/s Geomysore Services ( | Conversion of operating company into an operating cum holding company to make downstream investment. | No Fresh Inflow |
TELECOMMUNICATION
| 31 | M/s United Villages Networks Pvt. Ltd. | Deletion of one of the clause from the approval letter as the activity undertaken by the company is not categorized in that category. | No Fresh Inflow |
COMMERCE
| 32 | M/s Interglobe Enterprises Ltd., | To set up a new JV to undertake the operation and management of one or more duty free shops. | 0.51 |
| 33 | M/s Mcleod Russel India Ltd., Kolkata | To increase in the limit of total holdings ;of all FIIs/sub-accounts of FIIs, put together, from 24% of the paid up (i) capital of the company to 40% of the paid up capital of the company; and (ii) value of respective series of convertible debentures of the company to 40% of the paid up value of the respective series of convertible debentures of the company. The company is engaged in growing, manufacturing and selling of bulk tea. | No Fresh Inflow |
ECONOMIC AFFAIRS
| 34 | M/s Tutorvista Global Pvt. Ltd., Chennai | Ex-post facto approval for conversion of operating company into an operating cum holding company. | No Fresh Inflow |
| 35 | M/s Adani Power Ltd., Ahmedabad | Post-Facto approval for conversion of operating company into an operating cum holding company to make downstream investment. | 29.69 |
FINANCIAL SERVICES
| 36 | M/s. Asset Reconstruction Co. ( | Induction of a new foreign collaborator and increase in the foreign equity participation from 5% to 14.66% in the Asset Reconstruction. | 272.86 |
INFORMATION & BROADCASTING
| 37 | M/s | To setup a JV to undertake the business of Advertising. Proposal attracts Press Note 1 of 2005. | 0.80 |
| 38 | M/s Amar Ujala Publications Ltd. | Amalgamation of two companies consequent upon the order of Hon’ble High court. | No Fresh Inflow |
| 39 | M/s Meka Infrastructure Pvt. Ltd., Mumbai | Conversion from operating company to operating cum holding company to make downstream Investment. | 10.00 |
TELECOMMUNICATION
| 40 | M/s Essel Shyam Communication Ltd., Noida | To acquire equity shares and issue of warrants to subscribe to compulsory convertible preference share. | 92.14 |
| Sl. No | Name of the applicant | Particulars of the proposal |
| 1 | M/s Gallagher Mautitius Holdings, | Transfer of shares by way of share swap in IT sector. |
| 2 | M/s World Space (I) Pvt. Ltd. | To provide/undertake the activities of web based services. |
| 3 | M/s ZF Friendrichsafen AG, | To set up a new Joint Venture Company for manufacturing and marketing of rubber and rubber-to-metal parts for automotive industry, agriculture and construction machinery, railway and construction application. The proposal attracts Press Note 1 of 2005. |
| 4 | M/s G4S Corporate Services India Pvt. Ltd., Gurgaon | Conversion of existing status of operating company into foreign owned Indian Holding Company to make downstream investment. |
| 5 | M/s QuEST Manufacturing Pvt. Ltd., | Conversion from operating company to operating cum holding company to make downstream Investment. |
| 6 | M/s Delight Investments Pte Ltd., | Induction of foreign equity in two Indian companies and to convert their status from operating company into operating –cum-holding company for making further downstream investments |
| 7 | M/s JT International Mauritius Pvt. Ltd | To increase in foreign shareholding from 50% to 74%. |
The following 4 (Four) proposals have been rejected:
| Sl. No | Name of the applicant | Particulars of the proposal | |
| 1 | M/s Keppel Puravankara Development Pvt. Ltd., (KDPL), | To sell a part of unused land out of the total plot which was initially acquired to undertake a construction/housing project. | |
| 2 | M/s RISH PTE Ltd., | Post-facto approval for the FDI already brought in under automatic route, which otherwise requires FIPB approval. | |
| 3 | M/s RISH PTE Ltd., Cook Islands | Post-facto approval for the FDI already brought in under automatic route, which otherwise requires FIPB approval. | |
| 4 | M/s Geld Consultancy Services Pvt. Ltd., Mumbai | To set up JV to carry out the activities of Global Positioning System Hardware & Software and services and related equipment fields. | |
| Sl. No | Name of the applicant | Particulars of the proposal | FDI/ |
| 1 | M/s TPG India Investments I, Inc., Mauritius | (i) Issuance of warrants, and (ii) Conversion of operating company into an operating cum holding company to make downstream investment to carry out the activities of Investment holding company. | 805.61 |
| 2 | M/s Suzlon Energy Ltd., Ahmedabad | Conversion of operating company into an operating cum holding company to make downstream investment to carry out activities of production and manufacture of wind turbine generators and generating sets. | 1800.00 |
| Sl. No | Name of the applicant | Particulars of the proposal | FDI/ |
| 1 | M/s Pepsico India Holdings Pvt. Ltd. | To increase the approved equity from US$ 405 Million to US$ 455 Million and also to delete a condition in the approval letter. The initial proposal was approved by FIPB/CCFI. | US$ 50 Million (Rs.249.05 Crore) |