| The details of the proposals approved are as follows: |
| Sl. No. | Name of the applicant
| Particulars of the proposal | FDI/NRI inflows (Rs. In crore) |
| COMMERCE |
| 1. | M/s. Richemont Services B.V., | To set up a new JV with 51% foreign equity to undertake the business of single brand retail trading under the brand name ''Cartier'' | 0.20 |
| 2. | M/s. Power Plate (I) Pvt. Ltd. | Induction of foreign equity up to 50% in a company to be engaged in the retailing of single brand health and fitness equipment | 0.50 |
| 3. | M/s. Glorio Armani Holdings BV | To set up JV with 51% foreign equity to undertake single brand retail trading of the ''Armani'' branded products | 1.02
|
| 4. | M/s. Tokai Rubber Industries Ltd, Japan | To set up a new WOS to undertake manufacturing and sale of anti-vibration products and wholesale trading of anti-vibration products. Proposal attracts Press Note 1(2005 series) | 1.50 |
| HEAVY INDUSTRY |
| 5. | M/s. DE Diamond Electric India Pvt. Ltd. New Delhi | Conversion of advance paid into equity shares | No fresh inflow |
| INFORMATION & BROADCASTING |
| 6. | M/s. Percept Ltd, Mumbai | Conversion of operating company into an operating-cum-holding company to undertake downstream investments | No fresh inflow |
| ECONOMIC AFFAIRS | |
| 7. | M/s. Janani Technology Holdings Ltd. | To act as a holding company to undertake further downstream investments in IT and ITES | 0.59 |
| 8. | M/s. PSA India Pte. Ltd. Singapore | Induction of foreign equity up to 49% by way of preferential allotment of compulsorily convertible preferences shares . Proposal attracts Press Note 1 (2005 series) | 240.00 |
| 9. | M/s. GS Strategic Investments Ltd, Mauritius | Induction of foreign equity up to 20% in a company engaged in commodity broking besides other activities. | 300.00 |
| INDUSTRIAL POLICY & PROMOTION |
| 10. | M/s. Lafarge India Pvt. Ltd. | Merger of two companies (Lafarge India Holding Pvt. Ltd. with Lafarge India Pvt. Ltd.) as per the order of High Court of Bombay | No fresh inflow |
| 11. | M/s. Berkley Square Holding BV | Increase in foreign equity form 51% to 100% by way of transfer of shares/acquisition of shares. Proposal attracts Press Note 1 (2005 series) | 0.36 |
| INFORMATION & BROADCASTING |
| 12. | M/s. BVA Publishers Pvt. Ltd. ( M/s. Conde Nast (I) Pvt. Ltd.) | To undertake the additional activities of undertaking publication of specialty magazines | No fresh inflow |
| 13. | M/s. UTV Software Communications Ltd. | Induction of foreign equity by way of subscribing to equity shares in UTV Software and equity shares and warrants in UTV Global. Further acquisition of shares by way of open offer in UTV Software .The companies are engaged in the operation of general entertainment Television channel and broadcasting business by up-linking | 923.94 |
| TELECOMMUNICATIONS |
| 14. | M/s. Hathway Cable & Datacom Pvt. Ltd. | Induction of foreign equity in a company engaged in Cable TV services | 217.25 |
| 15. | M/s. Tata Communications Ltd. | Approval of Foreign holding (Direct and indirect) through Depository Receipts ,and FII for hardware facilities undertaking up linking | No fresh inflow |
| ECONOMIC AFFAIRS |
| 16. | M/s. Media Transasia India Ltd. | Conversion of non-repatriable equity to repatriable equity | No fresh inflow |
| 17. | M/s. Virgo Engineers Ltd. | Transfer of shares from NRIs to a non-resident Investor (Original investment made in Rupees) | No fresh inflow |
| 18. | M/s. Radiant Infosystems Ltd. | Transfer of 200 shares by way of share swap | No fresh inflow |
| INFORMATION & BROADCASTING |
| 19. | | Induction of foreign equity in an Indian company by way of acquisition of 100% equity of the company which is engaged in the business of event management services. Proposal attracts Press Note 1 (2005 Series) | 4.40 |
| TELECOMMUNICATIONS |
| 20. | | Induction of foreign equity beyond 49% and up to 74% in a company engaged in IP-I category activities by way of a sponsored GDR/ADR | 272.29 |
| | Total | Rs.1962.05 |
| The following eight ( 8 ) proposals have been recommended to be deferred: |
| 1. | M/s. Sumitomo Heavy Industry Ltd. | To set up a new WOS to undertake the activities of selling electric plastic injection moulding machines Proposal attracts Press Note 1 (2005 series) |
| 2. | M/s. Alpha Elettronica Defence Systems Pvt. Ltd. Bangalore | Induction of foreign equity upto 26% to undertake products relating to Defence Sector besides other activities |
| 3 | M/s. Delight Investments Pte. Ltd. Singapore | Induction of foreign equity in two Indian companies and to convert their status from operating company into operating –cum-holding company for making |
| 4. | M/s. Meta Telecom Pvt. Ltd. New Delhi | Increase in foreign equity from 40% to 73.45% in a company engaged in ILD and NLD Services |
| 5. | M/s. Connex Teltech Pvt. Ltd. Bangalore | Induction of foreign equity upto 74% in a company engaged in ILD Services |
| 6. | M/s. Aster Infrastructure Pvt. Ltd. | Change in the foreign collaborator and increase in foreign equity upto 74%. The company is engaged in IP-I Category services. |
| 7. | M/s. Broadband Pacenet (India) Pvt. Ltd. Mumbai | Induction of foreign equity by way of subscribing to or acquisition of shares upto 74% equity of the company |
| 8 | M/s. Al Khaleej Sugar Co. (LLC) Dubai | Amendment in the existing approval. Review of the condition 'Grain-to Grain' to 'Ton-to-ton'' |
The following one ( 1 ) proposal has been rejected:
|
Sl. No
| Name of the applicant | Particulars of the proposal |
| 1. | M/s. Kim Eng. Securities India Pvt. Ltd. Delhi
| Undertaking the activity of stock- broking as a non-fund based activity with applicable capitalization.
|
| Two proposals viz., M/s. Essar Power Limited, Mumbai and M/s. AXIS Private Equity Ltd, Mumbai have been recommended for consideration of CCEA, as the investment in the two proposals is more than Rs. 600.00 crore each. |
Finance minister P Chidambaram today approved 20 foreign direct investment proposals recommended by the Foreign Investment Promotion Board (FIPB) in its meeting held on 28th March, 2008.