Government approves FDI proposals worth Rs123 crore
17 Aug 2011
The government has approved 18 fresh proposals for foreign direct investment worth approximately Rs122.79 crore, including several proposals by media companies.
These approvals have been based on the recommendations of Foreign Investment Promotion Board (FIPB) at its meeting held on 5 August 2011, an official release said today.
These include a proposal by Banglore-based Axiom Consulting Pvt Ltd to issue and allot equity shares on non-cash consideration basis in the form of sweat equity shares. The company is engaged in the business of providing product design engineering services.
OmniMedia SL, Spain, has been allowed to set up a WoS to carry out the business of publishing/printing of scientific and technical magazines/ specialty journals/ periodicals.
Wolters Kluwer (India) Pvt Ltd, Delhi, has been allowed to make downstream investment in a company engaged in publishing/printing of scientific and technical magazines.
Om Pile Pvt Ltd, Gujarat has been allowed to issue equity shares in lieu of value of machinery imported. The company is engaged in the business of manufacture of textile goods.
Apeejay Surrendera Corporate Services Ltd has been allowed to increase foreign equity participation in the company from the existing 9.23 per cent to 31.57 per cent under a scheme of amalgamation approved by the Calcutta high court. The company is engaged in the business of cultivation, manufacturing and trading in tea; and business and management consultancy activities.
VTS TF Air Systems Pvt Ltd has been allowed to issue, ex-post facto, partly paid-up equity shares. The company is engaged in the business of manufacture of air conditioners, water chillers and so on.
Pipavav Defence and Offshore Engineering Company Ltd has been allowed to make amendment in clause 4&7 of FC approval. The company is engaged in the business of shipbuilding, ship repairs, offshore assets production etc and production of ships/vessels, including for defence sector.
Alan Dick & Company (India) Pvt Ltd has been allowed to amend clause 2 of the FC approval and to add the IP-I activities like establishing and maintaining the assets such as Dark Fibres, Right of way, Duct space and Tower.
Air Works India (Engineering) Pvt Ltd ahs been allowed to act as investing-cum-operating company to make downstream investments in companies in India, engaged in the aviation services business.
Spiral EHL Engineering Pvt Ltd, based in Delhi and Haryana, has been allowed to induct foreign equity to carry out the business of manufacturing military aero structures and other related items and services.
Financial Planning Corporation India Pvt Ltd, Mumbai, has been allowed to undertake the additional activity of publishing speciality journal/magazines pertaining to various aspects of financial planning.
IPFonline Ltd, Chennai, has been allowed to induct foreign equity by way of downstream investment to carry out the business of publishing/printing of technical magazines/ periodicals/journals.
Walt Disney Company India Pvt Ltd, proposes to undertake the additional activity of broadcasting and downlinking.
Dish TV India Ltd has proposed to transfer shares from NR to NR to carry out the business of telecommunication equipment and provide management and marketing of 'agrani' services, ie, in the area of mobile satellite communications.
Harsh Intertrade Private Limited, Ahmedabad has been allowed to allot ex-post facto, shares against the amount received and kept in escrow account. The company is engaged in the business of development and management of hotels.
Shiva Regency Pvt Ltd, Ahmedabad has been allowed to issue, ex post-facto, shares against the amount received and kept in Escrow account. The company is engaged in the business of development and management of hotels.
Dieffenbacher India Pvt Ltd has been allowed, ex-post-facto, to capitalise the pre-incorporation and preliminary expenses to carry out the business of marketing and sales support services.
Anuradha Holdings Pvt Ltd has been allowed to tansfer shares by way of share swap to carry out the business of project development, consultancy and management activities.
The FIPB has deferred a decision on the proposals by Jindal Agro Processing Pvt Ltd, Gujarat for transfer shares by way of share swap. The company is engaged in the business of manufacture and export of ready-to-eat food.