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Industry News
Government approves 9 FDI proposals worth Rs 523.705 crores
Posted On : 2009-12-31 21:47:25( TIMEZONE : IST )
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on December 18, 2009, Government has approved 09 Proposals of Foreign Direct Investment amounting to Rs. 523.705 Crore approximately.
M/s Mitsui & Co. Ltd., Japan has received approval to set up a Wholly Owned Subsidiary and a Joint Venture company. The proposal attracts Press Note 1 of 2005. The FDI is worth Rs 326.00 crore.
M/s Mold-Tek Technologies Ltd., Andhra Pradesh received approval to allot equity shares against the value of Assets.
M/s R K Swamy BBDO Pvt. Ltd., Chennai received approval for induction of foreign equity in a company engaged in the advertising activity. The proposal attracts Press Note 1 of 2005 and the amount of FDI is Rs 1.275 crores.
M/s SN Power Holding Singapore Pte. Ltd., Singapore has received approval 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.
M/s Ramani Hotels Ltd. received approval to issue shares for consideration other than cash.
M/s Diageo Radico Distilleries Pvt. Ltd. received approval 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. The Ex-post facto approval for violation of the Press Note 1 of 2005.
M/s Internet Global Services Pvt. Ltd. received approval to invest in Non-convertible Redeemable Preference shares capital out of internally accrued funds. The total FDI is Rs 100.00 crores.
M/s Goldman Agent Pvt. Ltd. received approval to make foreign investment in an investing company. The amount involved is Rs 93.00 crores.
M/s Premiere Conferencing (Ireland) Ltd., Ireland received approval 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. The amount involved is Rs 3.43 crores.
