Foreign Investment Promotion Board approves 12 Proposals of Foreign Direct Investment in India as on 19th December 2014

#FIPB at its meeting held on 19th December 2014 Approves 12 Proposals of #ForeignDirectInvestments amounting to INR
1827.24 Crore or US$ 292.87 Million.
Data was released on 9th January 2015.
FIPB - Foreign Investment Promotion Board. Government of India

#FDI #IndiaInvesting #India #FPI #ForeignPortfolioInvestors #GovernmentOfIndia
#ForeignInvestmentPromotionBoard #InternationalInvestors #InvestmentInIndia
#IndiaInvestment #Investing #ForeignInvestor
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Press Release : 09 January 2015
Government Approves Twelve (12) Proposals of Foreign Direct Investment (FDI)
Amounting to Approximately Rs.1827.24 Crore

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held
on 19th December 2014, the Government of India has approved twelve (12) proposals of Foreign
Direct Investment (FDI) amounting to Rs.1827.24 crore approximately.
In addition, one proposal relating to M/s HDFC Bank Limited has been recommended for
consideration of Cabinet Committee on Economic Affairs (CCEA).
Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on
19.12.2014 are as follows:
Following 11 (eleven) proposals have been approved by the Government:

Sl
. No.

1

2

Name of the
Gist
applicant
proposal

of

the

A 100% foreign
owned
Indian
brownfield
pharma
company is seeking
approval
for
the
issuance of equity
shares amounting to
M/s
USD
70
million
Tevapharm
(approx.) to M/s Teva
India Pvt. Ltd Pharmaceutical
Investments
Singapore Pte Ltd.,
Singapore (existing
investor)
thereby
increasing its current
shareholding
of
55.13% to 74.20%..
M/s
Symbiotec
Pharmalab Limited,
an existing pharma
company, is seeking
M/s
approval
for
Symbiotec
increasing
foreign
Pharmalab Pvt. investment in its paid
Ltd., MP
up capital by transfer
of its equity shares
from
resident
shareholders
to a
non-resident.

Sector

Proposed
FDI (in Rs.
crore)

Pharma

422.00

Pharma

3.36
(approx.)

3

M/s
Fresenius Kabi
India Private
Ltd.

4

M/s Novartis
Healthcare Pvt.
Ltd.

5

6

M/s
Intonation
Research
Laboratories
Pvt. Ltd.

M/s
Ratnakar Bank
Limited,
Mumbai

Approval has been
sought by Fresenius
Kabi India Private
Limited
for
(i)
issuance of shares on
a right basis to its
Miscparent company, M/s
Manufacturing
198.80
Fresenius Kabi AG,
Pharma products
Germany and (ii)
conversion of a loan
taken from its parent
company into equity
shares,
both
in
various tranches.
Approval has been
sought by transfer of
shares
constituting
49% of the share
capital of Novartis
Transfer
Healthcare
Private
Pharma
is by way of
Limited
held
by
gift
foreign shareholders
from Non-resident to
Non- resident by way
of gift.
The
Company
proposes to bring
additional
foreign
investment of up to
US $ 1 million by
issuing shares to
6.30
Pharma
existing shareholders
(approx.)
Mr. Suresh Kumar
Jain (US $ 550, 000)
and
Mr.
Dejain
Bojanic
(US
$
450,000).
Approval has been
sought
by
M/s
Ratnakar
Bank
Limited for an Initial
Public Offer (IPO) of
its equity shares to
residents,
NonFinancial
residents
including
Services / Banking
1150.00
Foreign
Portfolio
Private Sector
Investors
(FPIs),
Foreign Institutional
Investors
(FII),
Foreign
Venture
capital
Investors
(FVCIs),
thereby
increasing
the

7

M/s Napesco
International
Petroleum
Services
Company
(WLL), Kuwait

8

M/s Signet
Plastic Pvt. Ltd

9

M/s
Lausanne
Hospitality
Consulting Sa,
Switzerland

Mr. Anurag
Kumar
10

aggregate
foreign
investment from the
approved 55% to 74%
M/s
Napesco
International
Petroleum Services
Company
(WLL),
Kuwait and others
propose to set up an
LLP with foreign
investment
upto
99.99% of the capital
of the proposed LLP.
M/s Signet Plastic
Pvt.
Ltd.
for
conversion
of
Company into LLP.
M/s Signet Plastic
Pvt.
Ltd.
was
incorporated
on
18/02/2011 and is
currently
in
the
construction phase for
manufacturing
of
plastic products.
M/s
Lausanne
Hospitality
Consulting
(LHC)
SA,
Switzerland
proposes to set up an
LLP with foreign
investment
upto
99.99% in hospitality
training
and
consulting services in
the
field
of
hospitality.
M/s
Biodeal
Pharmaceuticals
Private
Limited.
(BPPL) formed in
December 2005, is an
existing
pharma
manufacturer, having
their
own
manufacturing plant
situated in Himachal
Pradesh.
The
company is currently
held 51% by M/s
Hovid Berhad, a
Malaysian company
and the balance 49%

LLP

24.99

LLP

Nil

LLP

1.79

Pharma

20.00

11

by
the
Indian
promoters
group
represented by Mr.
Thobanbhai Kurjibhai
Patel.
For decision on the
additional conditions
M/s Dr.
imposed by Ministry
Willmar
of Health & Family
Schwabe India Welfare and Ministry
Private Limited of Environment &
Forest post the FIPB
meeting.

Recommended
with additional
conditions as
imposed by
Ministry of
Environment &
Forest

Nil

The following twelve (12) proposals have been recommended to be deferred:

Sl.
No.
1

2

3

Name of the
applicant

Gist of the proposal

M/s Sprint International Holding,
M/s Sprint Inc., USA is seeking approval to
Telecom India increase its foreign equity participation
Pvt. Ltd. (Two in M/s Sprint Telecom India Private
Proposals)
Limited from 74% to 100% through a
combination of fresh issue of shares and
purchase of shares from the resident
shareholders.
M/s INX Music Private Limited, a
company which aggregates and
M/s INX
distributes music content for TV
Music Pvt. Ltd., channels, having 70.85% indirect
Mumbai
foreign investment; proposes to
undertake the additional activity of
broadcasting of a non-news and current
affairs channel, as proposed scheme of
arrangement.
M/s Insight Media City (India) Pvt.
Ltd. (IMC) was incorporated on
21/03/2013. It is stated that IMC has
received inward remittance of Rs
2,40,00,052.05 from Mr. Alungal
Mohammad (NRI) and shares would be
M/s Insight
allotted to the NRI investor after FIPB
Media City
approval. The existing shareholding in
(India) Pvt.
IMC is entirely held by resident Indians.
Post FIPB approval, 17.379% of the
total share capital in M/s Insight Media
City (India) Pvt. Ltd. will be held by
Mr. Alungal Mohammad (NRI) and the
rest 82.621% by resident Indians.

Sector

Telecom

IT /
Broadcasting

IT /
Broadcasting

Ms. Maham Nayyar and Ms. Sahar
Ms. Maham
Nayyar, Pakistani citizen, has sought
Nayyar and Miss
FIPB approval to import finished
Sahar Nayyer,
carpets from Dubai and other countries
Pakistan
and trade it in India
M/s ASV Europa Security Private
Limited,
Secunderabad
seeking
M/s ASV
5
permission for receiving 49% foreign
Europa Security
investment in Security Services and
Private Limited,
Man Power recruitment & training
Secunderabad
services by way of transfer of shares
from its current Indian Shareholder.
M/s Beloor Bayir Biotech Limited
Bangalore, with 22.55% foreign
investment (on a fully diluted basis) by
M/s India Agri Business Fund Ltd.
M/s Beloor
Mauritius proposes to acquire, by way
Bayir Biotech
6
of merger, the entire share capital of
Limited,
M/s Bayir Chemicals India Private
Bangalore
Limited, Bangalore and M/s Sneha
Nutura India Private Limited, both
companies
being
engaged
in
pharmaceuticals sector.
M/s Agappe Diagnostics Limited
M/s Agappe (ADL) seeking approval for acquisition
7
Diagnostics
of 20.24 percent of its fully paid-up
Limited (ADL) equity shares of ADL by M/s Sycamore
Holdings Limited, Mauritius.
M/s NovaLead Pharma Private
Limited, Pune has sought permission
for (a) the sale of a part of an existing
M/s Novalead
shareholder M/s Kotak India Growth
8
Pharma Private
Fund share in the company to (another
Limited, Pune
existing shareholder) M/s Boxmoor
(Mauritius) Ltd., and (b) to allot
additional equity shares to Boxmoor.
M/s Koye Pharmaceuticals Private
Limited, a brownfield Pharmaceuticals
company, has sought permission to
issue
additional
6,060
CCPS,
M/s Koye constituting up to 25.97% of the share
9 Pharmaceuticals capital of the company on a postPrivate Limited issuance and fully diluted basis to a new
foreign investor. Post the issue of ESOP
shares, the new foreign investor will
hold 25% of the paid up capital on a
fully diluted basis.
10
M/s Airworks
M/s Air Works India (Engineering)
India
Private Limited is seeking approval for
Engineering Pvt. increasing foreign investment resulting
Ltd.
in increase of Indirect FDI in its WoS
engaged in Aircraft Management
Services and Air Charter Services as
4

Misc Trading

Misc Trading

Pharma

Pharma

Pharma

Misc Trading

Civil
Aviation

11

M/s Ostro
Energy Private
Limited, Delhi

12

M/s
Monsoon
Capital LLC,
USA

“Non Scheduled Operators Permit.
M/s Ostro Energy Private Limited,
New Delhi has sought permission as a
core
investment
company
for
investment of USD 230 million
(approximately INR 1400 crores) over
the next 4-5 years in wind energy assets
in India via downstream investment.
M/s Monsoon Capital LLC has
sought
permission
for
making
investments directly or indirectly in
Monsoon Alternative Investment Trust
in the form of FDI.

Investing
Company

Misc Alternative
Investment
Fund (AIF)

The following three (03) proposals were approved under the automatic route:

Sl.
No.

Name of the
applicant

1

M/s Metalsa India
Pvt. Ltd., New Delhi

2

M/s GMU
Infosoft Pvt. Ltd.

3

M/s U Infosoft
Pvt. Ltd.

4

M/s Cerner
Healthcare Solutions
Pvt Ltd, Bangalore

Gist of the proposal
M/s Metalsa Issue of equity
shares
to
non-resident
shareholders
against
capitalization of import of
capital Goods/ Machinery.
The company proposes to
issue 2750 equity shares (1.52%
equity) of Rs.10/each, to Mr.
Ramneet Singh Rekhi, USA,
NRI and 2750 equity shares
(1.52% equity) of Rs.10/each to
Mr.Sartaj Singh Rekhi, USA,
NRI.
The company proposes to
issue 2750 equity shares (1.52%
equity) of Rs.10/each, to Mr.
Ramneet Singh Rekhi, USA,
NRI and 2750 equity shares
(1.52% equity) of Rs.10/each to
Mr.Sartaj Singh Rekhi, USA,
NRI.
M/s
Cerner
Healthcare
Solution
Private
Limited,
Bangalore, is seeking approval
for investment in proposed
Limited Liability Partnership
(LLP) in the field of software
development and information
technology enabled securities in
the field of healthcare and other
allied fields.

Sector
Misc Manufacturing

Misc

Misc

LLP

The following one (1) proposal has been recommended for consideration of the CCEA, as the
investment involved in the proposals is above Rs.1200.00 crore:

Sl.
No.

1

Name of the
applicant

Gist of the proposal

Approval has been sought by M/s
HDFC Bank Limited for the
issuance
of
equity
shares
M/s HDFC
aggregating to an amount of
Bank Limited,
Rs.10,000 crore to NRIs/FIIs/FPIs
Mumbai
subject to the aggregate foreign
shareholding not exceeding 74% of
the post issue paid up capital.

Release Id : 114497

Sector

Financial Services /
Banking Private
Sector

Pib Release: Ministry of Finance, 30-December, 2014
Government Approves Eight (8) Proposals of Foreign Direct Investment (FDI) Amounting to About
Rs. 34.77 Crore
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held
on 21st November 2014, the Government of India has approved eight (8) proposals of Foreign
Direct Investment (FDI) amounting to Rs. 34.77 crore approximately.
In addition, one proposal relating to M/s Lupin Limited has been recommended for
consideration of Cabinet Committee on Economic Affairs (CCEA).
Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on
21.11.2014 are as follows:
Following eight (8) proposals have been approved by the Government:

Sl.
No

Name
applicant

of

the

1.

M/s Medicamen
Biotech
Limited,
Delhi

2.

M/s Mahanagar
Gas Limited

3.

M/s
TutorVista
Global
Private
Limited, Chennai

4.

M/s
CSC
Computer Sciences
International
Operations Limited,
United Kingdom

Gist of the proposal

Sector

.

5.
M/s
(India)
Limited

6.

Ventura
Private

M/s Life Positive
Private
Limited.
(LPPL).

M/s Medicamen Biotech Limited,
Delhi, engaged in pharmaceutical
sector, has sought approval for
additional foreign investment by M/s
Pharmadanica A/S, Denmark, an
existing foreign investor in the
company.
M/s Mahanagar Gas Limited,
engaged in Petroleum and Natural
gas sector, is seeking approval to
record revised proposed shareholding
structure.
Approval has been sought by M/s
TutorVista Global Private Limited
for the merger of several direct and
indirect wholly owned subsidiaries
of Pearson (Singapore) PTE Limited.
M/s CSC Computer Sciences
International Operations Limited,
United
Kingdom,
is
seeking
permission for setting-up a proposed
LLP.
M/s Ventura (India) Private
Limited, engaged in services sector,
seeking approval for issuance of
shares to a foreign company in the IT
sector in consideration of acquiring
latter’s branch office in India
pursuant to a court approved scheme
of demerger.
Increase in foreign equity
participation from the existing 96%
to 99% of the equity of the Company
and induction of further FDI
of Rs.4,60,75,900 by the foreign

Pharma

P&NG
(Others)

Nil

IT &
ITES

IT
ITES

IT &
ITES

I&B

Proposed
FDI
(In Rs.Crore)
0.15
(approx)

Nil

&

30.00
(approx)

Nil

4.61
(approx.)

collaborators.
7.

8.

M/s
Syssmart
Services
LLP,
Mumbai
(No.
FC.I118/2014)
M/s
Mahindra
CIE
Automotive
Limited, Mumbai.
(No.
FC.I
–
123/2014)

M/s Syssmart Services LLP,
Others
Mumbai, engaged in software supply (Software
services, has sought approval for Services)
investment by Mrs. Manjushree
Khisty, a foreign national.
M/s Mahindra CIE Automotive
Others
Limited, Mumbai has sought
approval to issue and allot
6,30,03,150 equity shares to M/s
Participaciones
Internacionales
Autometal Dos. S.L., Spain (PIA 2),
the non-resident shareholder of M/s
Participaciones
Internacionales
Autometal Tres, S.L. Spain (PIA 3),
in consideration of merger of M/s
Participaciones
Internacionales
Autometal Tres, S.L. Spain (PIA 3)
into M/s Mahindra CIE Automotive
Limited.

0.0095

Nil

The following twelve (12) proposals have been recommended to be deferred:

Sl.
No.

Name
applicant

of

the

Gist of the proposal

Sector

M/s
Syngene
International Limited,
Bangalore

An Indian Pharma company, engaged in
contract R&D and manufacturing to third parties,
is seeking approval for 10% foreign equity
participation in its equity shares capital.

Pharma

2.

M/s Biogenomics
Limited

Pharma

3.

M/s
Keppel
Puravankara
Development Private
Limited, Bangalore

4.

M/s India Value
Fund IV

Proposal for increase in aggregate limit of
investment by SEBI registered FIIs and their subaccounts in the capital of M/s Lupin Limited
under the Portfolio Investment Scheme, put
together to 49%.
M/s Keppel Puravankara Development Private
Limited, Bangalore, engaged in construction and
development of residential projects in India, has
sought approval for redemption of preference
shares issued to the foreign investor M/s Keppel
Puravankara Development Pvt Limited, upon the
expiry of minimum lock-in period of 3 years.
M/s India Value Fund IV, having 97% FDI,
seeking approval for downstream investment in
M/s Atria Convergence Technologies Private
Limited, an internet service provider and holds
downstream investment in companies engaged in
internet service provider and multi system
operator for cable network.

1.

Constructio
n
&
Development

Telecom & I&B

5.

6.

7.

8.

9.

10
.

11.

12
.

M/s
Bencera
Resources
Private
Limited, Ahmedabad

M/s Bencera Resources Private Limited,
Ahmedabad, engaged in trading of ceramic
industry consumables, has sought post-facto
approval for partly paid shares issued to M/s
Ceranik System Limited, China.
M/s Knowlarity Communications Private
M/s
Knowlarity Limited, engaged in providing telecom services,
Communications
has sought an approval to transfer equity shares
Private Limited, Delhi. from existing investors and fresh issue of equity
shares and CCPS to existing and new investorleading to an increased FDI stake from 56.14%
to80.97%.
M/s SME Capital
M/s SME Capital Market Corporation Ltd.
Market
Corporation Delhi, presently a holding company, which
Ltd, Delhi
proposes make downstream investment in
companies to engage in manufacturing, has
sought approval for foreign investment in the
company.
M/s
Cheekotel
M/s Cheekotel Venture Fund Private Limited,
Venture Fund Private Delhi, a domestic VCF company, has sought
Limited, Delhi.
approval to issue equity upto 40% (of the voting
rights) to foreign investors for making investment
in M/s SME Capital Market Corporation Ltd.
Delhi.
M/s
Shah
M/s Shah Vibratory LLP, Mumbai has sought
Vibratory
LLP, approval for 50% foreign participation of M/s
Mumbai
National Air Vibratory Company, USA.
M/s SNC-Lavalin
M/s SNC-Lavalin Mauritius Limited is
Mauritius Limited.
seeking approval for conversion of CCPS into
[No.
FC.II equity shares held in M/s Piramal Roads Infra
39(2012)/32(2012)]
Private Limited, an Indian investing cum
operating company and to increase its
shareholding from 10% to 17%.
M/s
Montblanc
M/s Montblanc Services Blank B.V,
Services
B.V, Netherlands (holding 51% of shares) and M/s
Netherlands.
Titan Company Limited, India (holding 49% of
[No.
shares) propose to set up a Joint Venture company
10/SIA/RT/2014-FC.I) (to be incorporated) for undertaking single brand
retailing of ‘Montblanc’ products.
M/s Verint Systems
A WoS of foreign company, holding FIPB
(India)
Private approval to undertake cash and carry wholesale
Limited.
trading and export trading in respect of only
(No.
FC.II: Enterprise Intelligence Systems( EIS) and Video
512/2005)
Intelligence Systems (VIS) products related to
telecom and defence, has sought removal of
condition of seeking prior approval before
making every sale imposed by FIPB.

I&B

Telecom

Telecom

Telecom

Others

Investing
company

Retail
trading/ Misc

Wholesale
and
Export
Trading

The following two (2) proposals have been withdrawn by the applicant:
Sl
. No.

Name of the applicant

1.

M/s Today Magazines Lifestyle Private Limited, New Delhi.

2.

M/s TC Capital Managers

The following one (1) proposal has been recommended for the consideration of the CCEA, as
the investment involved in the proposals is above Rs. 1200.00 crore:

Sl.
No

Name
applicant

of

the

Gist of the proposal

Sector

.
1.

M/s Lupin Limited

Proposal for increase in aggregate limit
of investment by SEBI registered FIIs and
their sub-accounts in the capital of M/s
Lupin Limited under the Portfolio
Investment Scheme, put together to 49%.

Pharma

Press Release : 01-December, 2014
Government approves fifteen (15) proposals of Foreign Direct Investment (FDI) amounting to
about Rs. 689.35 Crore
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held
on November 14, 2014, the Central Government has approved fifteen (15) proposals of Foreign
Direct Investment (FDI) amounting to Rs. 689.35 crore approximately.
In addition, one proposal viz., M/s HDFC Bank Limited has also been recommended for
consideration of Cabinet Committee on Economic Affairs (CCEA).
on

Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held
14.11.2014
are
as
follows.

Following fifteen (15) proposals have been approved:

Sl.
No
1

2

3

4

Name of the applicant

Gist of the proposal

M/s IdeaForge Technology M/s IdeaForge Technology Pvt. Ltd,
Pvt. Ltd
which is a manufacturer of
(No. 8/SIA/NFC/2013-FC-I) unmanned aerial systems mainly
supplied to defence sector, has
sought approval for NRI investment
by Ms. Sujata Vemuri due to change
in the activities of the company
M/s Punj Lloyd Limited, M/s Punj Lloyd Limited, Gurgaon,
Gurgaon
(No. with the existing FDI, has sought
128/2014-FC.I)
FIPB
approval
to
undertake
additional activity of manufacturing
of
equipment,
systems
and
associated assemblies for the defence
sector.
M/s Panacea Publishing Pvt M/s Panacea Publishing Pvt. Ltd,
Ltd, Mumbai (No.129/2014- Mumbai has sought approval for
FC.I)
50% foreign equity by M/s Panacea
Publishing International Limited,
UK to engage in the business of print
and advertising media.
M/s Vogel Business Media M/s Vogel Business Media India Pvt.
India Pvt. Ltd., Mumbai [No. Ltd., engaged in publishing, is
FC.II
51(2011)/87(2011)] seeking post facto approval for (i)

Proposed
FDI

Sector

Defence

0

Defence

0

I&B

0.1

I&B

0

(43/AM/2014)

5

M/s GETIT Infoservices
Private Limited (formerly
known as M/s GETIT
Infoservices Limited) (No.
FC.II 115/2008)

6

M/s Herman Miller Furniture
(India) Private Limited,
Bangalore (No. 124/2014FC.I)

7

M/s Center for Disease
Detection Services Global
Private Limited, Bangalore
(No. 127/2014-FC.I)
M/s The Nuance Group AG
(No. FC.II-176/2013)

8

9

10

M/s Zipcash Card Services
Pvt.
Ltd
(No.
14/SIA/NFC/2011-FC-I)

induction of a new foreign investor
in the approval letter to whom shares
had been issued in 2011, (ii) change
of name of one existing investor and
(iii) induction of name of one foreign
investor which was inadvertently not
inserted in the approval letter.
M/s GETIT Infoservices Private
Limited, engaged of publishing, is
seeking approval for increasing
foreign equity participation in its
share capital from present 96.266%
to upto 100%.
Approval has been sought by M/s
Herman Miller Furniture (India)
Private Limited for setting up a
manufacturing
unit
for
manufacturing furniture including
wooden and steel furniture which
has been reserved for Micro, Small
and medium Enterprises Sector
(MSME’s) .
M/s Center for Disease Detection
Services Global Private Limited,
Bangalore, is seeking permission for
conversion of advances into equity.
M/s Nuance Group AG Switzerland
has proposed for amendment in the
approval letter dated 05.12.2013 and
to purchase shares in an existing
company of the same group instead
of incorporating a new company to
be engaged in operating the duty free
outlets at the Chhatrapati Shivaji
International
Airport
(CSIA),
Mumbai.
M/s Zipcash Card Services Pvt. Ltd
has sought approval for removal of
the
condition
of
minimum
capitalization as required under para
6.2.24.2 viz USD 0.5 million.
Alternatively, if FIPB of the opinion
that this condition cannot be deleted,
then permit NRI

I&B

184

Others

NIL
(Already
brought
in)

Pharma

others

NIL
(Already
brought
in)
42

NBFC

0

to transfer the fully paid equity
shares held by him in the company
to any person resident in India
without further complying with
minimum capitalization condition.
M/s
Sanofi-Synthelabo M/s
Sanofi-Synthelabo
(India) Pharma
(India) Limited, Mumbai Limited, Mumbai, engaged in
( No. 115/2014-FC.I)
brownfield pharmaceutical sector

90

11

M/s Sun Pharmaceutical
Industries Limited, Gujarat
( No. 119/2014-FC.I)

12

M/s
Panacea
Biotech
Limited,
Delhi
(No.
122/2014-FC.I)

13

M/s Neuland Laboratories
Limited, Hyderabad (No.
130/2014-FC.I)

14

M/s Satures India Pvt. Ltd.,
Banglore
[No.
FC.II80(2012)/28(2012)]
(No.
47/AM/2014)

15

M/s A. Menarini India Pvt.
Ltd. (No. FC.II 199/2012)

and a 100% WOS of M/s Sanofi
S.A., France, has sought approval for
(a) additional foreign investment of
Rs.90 crore from its parent company
and (b) inter-corporate loan from
another Indian incorporated Sanofi
Group company in order to acquire
20% equity in M/s Apollo Sugar
Clinics
Limited,
Mumbaia
company engaged in providing
healthcare clinical services.
M/s Sun Pharmaceuticals Industries
Limited, Gujarat has sought approval
for issuing equity shares to: (a) the
non-resident shareholders and (b) the
holders of global depository receipts
of M/s Ranbaxy Laboratories
Limited pursuant to the merger of
M/s Ranbaxy Laboratories Limited
into M/s Sun Pharmaceuticals
Limited through a scheme of
arrangement and based on the share
exchange ratio set out in the scheme.
M/s Panacea Biotec Limited, Delhi,
a listed company engaged in
pharmaceutical sector, has sought
approval for issuance of equity
shares to Qualified Institutional
Buyers (QIBs) through proposed
qualified institutional placement.
Approval has been sought by M/s
Neuland Laboratories Limited for
the issuance of shares on right basis
to
its
existing
non-resident
shareholders.
An Indian pharma company is
seeking approval to increase foreign
investment from 58.88% to 72.65%
by way of transfer of shares from
resident to existing non-resident
shareholder and NR-NR transfer.
M/s A. Menarini India Private
Limited (A. Menarni) is seeking
approval to issue its equity shares to
shareholders of M/s Menarini
Raunaq Pharma Limited (MRPL)
and further transfer of shares from
shareholders
of
MRPL
to
shareholder of A. Menarini, pursuant
to the approval of the merger of
MRPL with A. Menarini.

Pharma

0

Pharma

250

Pharma

25

Pharma

98.25

Pharma

0

The following seven (7) proposals have been deferred:
Sl.No.

Name of the applicant

Gist of the proposal

Sector

1

M/s
Augere
Wireless
Broadband
India
Private
Limited,
New
Delhi
[No.
FC.II – 27(2011)/242(2010)]

M/s Augere Wireless Broadband India Private Telecom
Limited, an Indian telecom company, proposes
to Increase foreign equity participation from
74% to 100%.

2

M/s O-zone Networks Private M/s O-zone Networks Private Limited Delhi, others
Limited, Delhi. (No. 114/2014- engaged in telecom sector and with 33.33%
FC.I)
existing FDI from M/s AL Telecom Holdings
(India) Limited, Cyprus, seeks approval for
upto 100% foreign investment by M/s Ozone
BV, Netherlands by way of purchase of the
equity share capital existing foreign and
domestic shareholders.

3

M/s Agilent Technologies Approval/clarification has been sought by M/s IT &
(International) Private Limited Agilent Technologies (International) Private ITES
[No. FC.II 5(2003)/526(2002)] Limited to partially lease the premises, treating
it as additional activity.

4

M/s Baring Private Equity
Asia IV Mauritius Holdings
(3) Limited [No. FC.II
440(2000)/499(2000)]
[No.
37(2007)/05(2007)]

5

M/s Holcim (India) Pvt. Ltd. Approval has been sought by M/s Ambuja others
[No.
FC.II. Cements Ltd., for the acquisition of 24%
360(2002)/479(2002)]
shares in its holding company; Holcim (India)
Pvt Ltd from the latter’s holding company M/s
Holderind Investments Ltd (NR) and
subsequent reverse merger through a share
swap.

6

M/s FTF Pharma Pvt Ltd., Approval has been sought by M/s FTF Pharma Pharma
Ahmedabad (No. 94/2014- Private Limited, a brownfield pharmaceutical
FC.I)
company for issuance of equity shares on a
right basis to its existing foreign shareholder in
the proportion of the shares held.

7

M/s Vayugrid Marketplace
Services Private Limited,
Maharashtra (No. 116/2014 –
FC.I)

: Approval has been sought by Sharekhan NBFC
Limited and M/s Human Value developers Pvt
Ltd for the transfer of CCDs and CCPs of their
companies held by IDFC limited to Baring
Private Equity Asia IV Mauritius Holdings
Limited.

M/s Vayugrid Marketplace Services Private others
Limited, Maharashtra, is seeking approval for
allotment of equity shares towards preliminary
expenses for the incorporation of the company
and to issue pending equity shares against
share application money pending since
takeover of a sister company since
31.03.2009.

The following two (2) proposals have been rejected:
Sl.No. Name of the applicant

Gist of the proposal

Sector

1

M/s Quikjet Cargo Airlines
Pvt. Ltd. Banglore
(No. 117/2014-FC.I) (No.
FC.II – 23/2013)

Approval has been sought by M/s Farnair Civil
Switzerland A.G for the purchase of Aviation
shares/CCPS of M/s Quickjet Cargo Airlines Pvt
Ltd from its existing shareholder and subscribe
to fresh shares, hereby increasing the foreign
shareholding from 62.34% to 74%

2

M/s Phil Arthur Bedford, Mr. Phil Arthur Bedford, a British National and others
Dubai
Dubai Resident has sought approval to set up an
( No. 101/2014-FC.I)
LLP in India which will act as the Master
Franchisee of the Referral Institute, an institute
engaged in providing consultation tools to help
business professional to gain financial success
through relation based referral marketing.

In respect of the following one (1) proposal, the recommendation is to advise the applicant that the
proposal does not lie before FIPB, since the present activity is under automatic route:
Sl.No
.
1

Name of the applicant

M/s Turner General
Entertainment Networks
India Private Limited
[No.
FC.II37(2007)/5(2007)] (No.
45/AM/2014)

Gist of the proposal

Sector

Post Facto approval has been sought by Turner I&B
General Entertainment Networks India Private
Limited for the transfer of 1 share held by
resident shareholder to WoS of the foreign
investor.

The following one (1) proposal has been recommended for the consideration of CCEA, as the
investment involved in the proposals is above Rs. 1200.00 crore:

Sl.No. Name of the applicant
1

Gist of the proposal

Sector

M/s HDFC Bank Ltd. Approval has been sought by, M/s HDFC Bank Banking
(No.FC.I-231/2013)
Limited for maintaining the permissible foreign Private Sector

holding in the bank up to 74% of the total paid
up capital, out of which the FII sub-limit would
be 49% and the balance 25% would be FDI.

Press Release :
Government approves Twenty (20) Proposals of Foreign Direct Investment amounting to Rs 988.3
Crore
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held
on September 16, 2014, the Government has approved twenty (20) proposals of Foreign Direct
Investment amounting to Rs. 988.3 crore approximately.
Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on
16th September, 2014 are as follows:

1.

Following twenty (20) proposals have been approved:

S
l.
No.

Name of the
applicant

1

M/s   Bharti   Shipyard
Ltd., Mumbai
(No.187/2011­FC.I)

2

M/s   Solar   Industries
India Limited, Nagpur
(No. 86/2014­FC.I)

3

M/s   Hatsoff   Helicopter
Training Pvt Ltd, Bangalore
(No. 112/2014­FC.I)

4

M/s
 
Verizon
Communications   India
Private Limited
[No. FC.II – 39/2002]

5

M/s Ironman Media and
Advisory   Services   Private
Ltd.
 
(No.
11/SIA/NFC/2014)
M/s Axes Studios LLP
(No.10/SIA/NFC/2014­
FC I)

6

 

Gist of the proposal

M/s Bharati Shipyard Limited,
Mumbai
(Investee
Company)
which has existing FII and NRI
investments has proposed to
undertake additional defence
activities along with its existing
activities.
M/s Solar Industries Limited,
which has minimal investment
FII/NRI investment, has sought
approval
for
undertaking
additional
activity
of
manufacturing defence products.
Post facto approval has been
sought by M/s Hatsoff Helicopter
Training Pvt Ltd for the issue of
shares against interest money
accrued
on
the
foreign
remittance received by it from
the foreign investor.
M/s Verizon Communications
India Private Limited, engaged in
telecom
sector,
is
seeking
approval to increase foreign
equity participation by its foreign
parent from 74% to 100%.
M/s
Ironman
Media
and
Advisory Services Private Ltd. has
sought approval to issue shares
for the amount received as FDI.
M/s Axes Studios LLP has
sought approval to accept NRI
investment from Mr. Gunjan
Dhirendra Chag, NRI, UK.

Propos
ed
amount
of FDI (in
Rs. Crore)
Nil

Nil

Rs.   5.6
Crore

Rs.   2.32
Crore

Sector

Defence

Defence

Civil
Aviation

Telecom

Rs.   0.30
Crore

Print
Media

Rs.   0.99
Crore

IT

0

1

2

3

4

7

M/s   MapfreAsistencia
Camp   A+   Aa   International
de   SegurosYReaseguros,
SA(No. 245/2013­FC.I)

8

M/s   Instant   Global
Money   Transfer   Private
Limited
(No. 78/2014­FC.I)
 

9

M/s   GETCO   Asia   Pte.
Ltd., Singapore
(No. FC.II: 156/2011)

1

M/s   Equitas   Holdings
Private   Limited,   Tamil
Nadu
(No. FC.II­ 236/2011)
 

1

M/s   ANZCapital   Pvt.
Ltd. (FC.II: 121/2001)

1

M/s Medipass SRL, Italy
(No. 83/2014­FC.I)

1

M/s
 
Intas
Pharmaceuticals   Limited,
Ahmedabad
[No. FC.II – 334/2005]

1

M/s.
 
Koye
Pharmaceutical   Private
Limited
(No. 41/2014­FC.I)

Permission for incorporating a
WoS in India for providing
software related services and
also act as Corporate Agent to an
Indian Insurer by Soliciting and
Procuring Insurance business as
Corporate Agent.
M/s Instant Global Money
transfer Private Limited, Punjab is
seeking post facto approval for
partly paid shares issued to the
M/s Trans-Fast Remittance LLC,
New York against FDI.
Approval sought by a wholly
foreign owned company for
setting
up
a
downstream
subsidiary to be engaged in the
business of commodities broking,
commodities
trading
and
providing
liquidity
to
the
commodities market.
Approval has been sought by
M/s Equitas Holdings Private
Limited
for
downstream
investment in its wholly owned
subsidiaries by its existing and
new foreign shareholders hereby
increasing the foreign equity
from 91.30% to 93.12%
M/s
ANZ
Capital
Private
Limited is seeking approval for
removal
of
the
condition
prescribed in the FC approval.
Approval
is
sought
by
Medipass
SRL,
an
Italian
company for the acquisition of
85.19% stake in the share capital
of M/s Clearview Healthcare
Private Limited, an investing
company
with
downstream
investment in health sector.
M/s
Intas
Pharmaceuticals
Limited,
an
Indian
pharmaceuticals
company,
seeking approval for NR to NR
transfer of 10.16% its shares.
M/s
Koye
Pharmaceuticals
Private Limited, a brownfield
Pharmaceuticals company, has
sought permission to issue
additional
1,818
CCPS,
15constituting up to 6.81% of the
share capital of the company on
a post-issuance and fully diluted
basis, to the already existing
investor
M/s
SCI
Growth
Investments II, Mauritius.

Rs.   1.70
Crore   (US$
0.275
million)

Insurance

Rs.   0.15
Crore

NBFC

Nil

Rs.   325
Crore

Nil

Rs. 15.11
Crore

Nil

Rs.   7.50
Crore

NBFC

Investing
Company

NBFC

Pharma

Pharma

Pharma

5

6

1

M/s
 
Amneal
Pharmaceuticals   Company
India Pvt. Ltd.
(No. 67/2014­FC­I)

1

M/s   Fresenius   Kabi
Oncology   Limited,   New
Delhi
(No. 89/2014­FC.I)

1

M/s
 
Ferring
Pharmaceuticals Pvt. Ltd.
(FC.II 456/1996)

1

M/s Indusind Bank
Ltd. (591/FC/93/NRI-FC
I)
 

1

M/s   Dymak   India
Services   Limited   Liability
Partnership, Uttar Pradesh
(No. 85/2014­FC.I)

2

M/s Tara India Fund IV
Trust, Mumbai
(No. 102/2014­FC.I)

7

8

9

0

 

M/s Amneal Pharmaceuticals
Company Private Limited, a
foreign owned and controlled
company, is seeking approval for
acquisition of entire share capital
of Epsilon, through a share
purchase agreement a company
engaged in trading of generic
pharma products and in process
of
setting
up
formulation
manufacturing facility.
Approval has been sought for issuance
of   equity   shares   for   an   aggregate
consideration of Rs. 119 Crore to increase
foreign   shareholding   from   96.22%   to
96.483% of its parent company.
M/s Ferring Pharmaceuticals
Private Limited is seeking post
facto approval for the investment
made by Ferring BV (foreign
company)
into
M/s
Ferring
Pharmaceuticals Pvt. Ltd for
onward downstream investment
in
its
WoS
M/s
Ferring
Therapeutics Pvt. Ltd., prior to
approval of FIPB.
the applicant has sought
approval for increase in foreign
investment in IBL to 74% with a
specific request to grant postfacto approval for increase in
foreign holding from 68.51% to
72.07% on 30.06.2014
Post Facto approval has been
sought by M/s Dymak India
Services
LLP
for
foreign
contribution of Rs. 44,53,523 to
acquire 80% stake in the Indian
LLP by M/s Dymak A/S CVR 1975
7803.
M/s Tara India Fund IV Trust
seeking
permission
for
investment upto US$45 million
by subscribing to the units of the
applicant
and
category
B
investors to invest up to US $ 5
million in the units of TARA Fund.

UptoRs.
205 Crore

Pharma

Rs.   119
Crore

Pharma

Nil

Pharma

Not
indicated

Banking   –
Private Sector

Nil

Whole
Sale Trading

Rs
305.63 Crore
(US$   50
million)

Investing
Company

2.

The following eight (8) proposals have been deferred:

S
l.
No.
1

2

3

4

5

6
7

8

Name of the
applicant

Gist of the proposal

M/s
 
Pureplay
Investment   Partners,
Mauritius
(No. FC.I­270/2013)

Proposal for FDI by M/s Pureplay Investment Partners
Mauritius in:
(a)   upto   74%   in   M/s   Indiverse   Broadband   Private
Limited,   an   existing   company   engaged   in   the   cable
television networks business and undertaking up ­gradation
of   networks   towards   digitization   and   addressability   (b)
49% in (JVC­I) and 49% in (JVC­2) (both JVC will be act
as investing company).
M/s   ASV   Europa
M/s   ASV   Europa   Security   Private   Limited,
Security Private Limited, Secunderabad   seeking   permission   for   receiving   49%
Secunderabad   (No. foriegn  investment   in  Security  Services   and  Man  Power
91/2014­FC.I)
recruitment   &   training   services   by   way   of   transfer   of
shares from its current Indian Shareholder. 
M/s   Halyard   Health
Approval has been sought by M/s Halyard Health, Inc,
Inc.,   USA   (No. USA,   WoS   of   Kimberley   Clark   group   to   set   up   a   new
109/2014­FC.I)
company   in   India   to   be   engaged   in   import   and   sale   of
healthcare products on “Wholesale business” and transfer
of some assets from one WoS to the new company.
M/s   BeloorBayir
M/s   BeloorBayir   Biotech   Limited   Bangalore,   with
Biotech
 
Limited, 22.55%   foreign  investment   (on  a  fully  diluted  basis)   by
Bangalore
 
(No. M/s India Agri Business Fund Ltd. Mauritius proposes to
111/2014­FC.I)
acquire, by way of merger, the entire share capital of M/s
 
Bayir Chemicals India Private Limited, Bangalore and M/s
Sneha Nutura India Private Limited, both companies being
engaged in pharmaceuticals sector.
Mr.   Anurag   Kumar
The   applicant   has   sought   Government   approval   for
(No. 12/SIA/NFC/2014)
acquisition   of   100%   equity   of   BPPL.   The   proposal   has
been   supported   by   the   consent   of   existing   shareholders 
and Board Resolution of the investee company.
M/s  Tevapharm  India
A   100%   foreign   owned   Indian   brownfield   pharma
Pvt.   Ltd.   [FC.II company   is   seeking   approval   for   additional   capital
35(2001)/45(2001)]
infusion.
M/s
 
GMU
company proposes to issue 2750 equity shares (1.52%
InfosoftPvt.
equity) of Rs.10/each, to Mr. Ramneet Singh Rekhi, USA,
Ltd.                     
NRI and 2750 equity shares (1.52% equity) of Rs.10/each
(No.
to Mr.Sartaj Singh Rekhi, USA, NRI.
17/SIA/NFC/2011­FC I)
 
M/s   U   InfosoftPvt.
The   company   proposes   to   issue   2750   equity   shares
Ltd.
 
(
 
No. (1.52%   equity)   of   Rs.10/each,   to   Mr.   Ramneet   Singh
16/SIA/NFC/2011­FC I)
Rekhi, USA, NRI and 2750 equity shares (1.52% equity)
of Rs.10/each to Mr.Sartaj Singh Rekhi, USA, NRI.

Sector
Telecom

Private
Security
Agencies
Pharma

Pharma

Pharma

Pharma
Others

Others

 
3.
S
l.
No.
1

The following five (5) proposals have been rejected:
Name of the
applicant

Gist of the proposal

M/s   Indus   Teqsite

A JV is proposed to be formed with 26%

Sector
Defence

2

Private   Limited,   Tamil
Nadu
(No. 261/2013­FC.I)
M/s.   Sistema   Shyam
Teleservices Ltd.
[FC.II 241 (07)/285(07)]

3

M/s   Kusum   Healthcare
Private Limited, New Delhi
(No. 92/2014­FC.I)

4

M/s   BioMerieux   India
Private Limited, New Delhi
(No. 97/2014­FC.I)

5

M/s   HBM   Private
Equity India
(No. 216/2013­FC.I)

FDI to undertake defence sector activities.

Increases in FDI upto 100% in M/s
Sistema Shyam Tele Services Limited and
its downstream WoS M/s Shyam Internet
Services Limited, both engaged in telecom
sector, on account of conversion of
Redeemable Preference Shares into equity.
M/s Kusum Healthcare Private Limited,
New Delhi, engaged in pharmaceuticals
sector, has sought approval for issuing
equity shares/CCPS/CCDs to M/s Upasa
Holdings AG, Switzerland, leading to 25%
shareholding in the applicant.
M/s BioMerieux India Pvt Ltd., a WoS of
M/s BioMerieux France has sought approval
for additional downstream investment of
10% (increase from 60% to 70%) in M/s
RAS Life sciences Private Limited, a
company
engaged
in
brownfield
pharmaceutical sector. Post-facto approval
for initial investment of 60% would also be
required.
Approval has been sought by M/s HBM
Private Equity India, Mauritius to acquire
7.72% equity shares of M/s Marck
biosciences Ltd from IFCI Venture Capital
Fund Ltd. This will result in increased
foreign equity participation from 49.29% to
57.01%. However there is no change in the
holding of the promoter group (80.01%).

Telecom

Pharma

Pharma

Pharma

4.
In respect of following two (02) proposals, the recommendation is to advise the applicants
that FIPB approval is not required in their cases:
S
l.
No.
1

2

Name of the
applicant
M/s   Kineco   Kaman
Composites India Pvt. Ltd.
(No. FC.I­100/2013)

M/s   Xander   Finance   Pvt.
Ltd., Delhi
(No. 110/2014­FC.I)

Gist of the proposal
M/s Kineco Kaman Composites-India Pvt
Ltd, having 26% FDI, proposes to
undertake the additional activity of
supplying products and research and
development services to the defence
sector, along with its existing activities.
M/s   Xander   Finance   Private   Limited,   a   loan
NBFC,   with   99.45%   FDI   from   M/s   Xander   Credit
Pte.   Limited,   Singapore   has   sought   post­facto
approval for deployment of temporary surplus funds
in   debt   mutual   fund   and   for   making   future
deployment   of   temporary   surplus   funds   in   debt
mutual funds and government bonds.

Sector
Defence

NBFC