4th July, 2002
Ministry of Commerce & Industry  


MARAN CLEARS FDI PROPOSALS WORTH Rs. 218 CRORE


Shri Murasoli Maran, Union Minister of Commerce & Industry, has cleared 42 Foreign Direct Investment (FDI) proposals involving FDI worth Rs. 218 Crore. The major investment proposals pertain to sectors such as manufacture & distribution of homeopathic & herbal medicines, mining exploration, to provide air diffusion, quality & management solutions and related services, manufacture of glass fibre, providing services for the manufacture of electronic products, development of computer software, information technology and ISP services. The list of proposals cleared by Shri Maran is given below. Earlier, the Foreign Investment Promotion Board had submitted its recommendations for the Minister's clearance.

S.No.

Name & Address of the foreign company

Name & Address of the Indian company, if already incorporated

Activity

Location

Percentage of FDI/NRI/OCB investment

Amount of FDI/NRI/OCB Investment

(Rs. In crore)

1.

M/s. Solvay Pharma-

ceuticals B.V.,

Post Box No. 900,

1380-DA Weesp, C.J. Van Houteriaan,

The Netherlands

M/s. Solvay Pharmaceuticals BV

C/o. Arthur Andersen

2nd Floor, Capital Court

LSC Phase III

Olof Palme Marg, Munirka

New Delhi-67

Manufacture & market-ing of pharmaceutical products.

Mumbai

Increase of foreign equity from 63.96% to 68.975%

0.24

2

M/s. Lupharma GmbH,

Germany (a 100%) subsidiary of Knoll AG, Ludwigshafen, Germany

M/s. Knoll Pharmaceu-

Ticals Ltd.,

17 R Kamini Marg,

Mumbai – 400 001

Manufacture of pharmaceutical formulations

Greater Mumbai, Maharashtra

Increase in foreign equity from 58.2 to 61.7% through buy back

Inflow depends upon offer.

3

(i) M/s. Roper Industries, Inc.

160 Ben Burton Road,

Bogart, Georgia-30622.

(ii) M/s. Compressors Controls Corporation,

4725, 121st Street,

Des Moines,

Lowa 50323-2316, USA

100% wholly owned subsidiary

Selling refrigeration control valves in India by export/ex-bonded ware housing & providing related and after sales & Marketing support services

Not indicated

100%

0.50

4

M/s. Franklin Templeton Holding Ltd., Mauritius,

A WoS of M/s. Templeton Worldwide Inc., USA
Broward Financial Centre,

500 East Froward Boulevard, Suite 2100, Fort Lauderdale, USA

M/s. Templeton Asset Management (India) Pvt. Ltd.

C/o Arthur Andersen, Capital Court, 2nd Floor,

LSC Phase-III, Munirka,

Olof Palme Marg,

New Delhi – 110067.

To set up an asset management company.

Delhi

Acquisition of 100% Share Capital of M/s. Pioneer ITI AMC Ltd, an existing Indian company.

No fresh foreign exchange inflow

is involved.

5

Dr. Willmar Schwabe GMBH & Co.,

Postfach 410925,

76209, Karlsruhe, Germany.

M/s. Dr. Willmar Schwabe India Pvt. Ltd.,

Sama Farm,

21 Gaushala Road, Satabari Village,

Tahsil Mehrauli,

New Delhi.

Manufacture & distribu-tion of homeopathic & herbal medicines.

Not indicated.

Increase from 89.32% to 93.80%

18.00

6

M/s. Dylog S.P.A. Torino, Italy.

M/s. Emerald Software Pvt. Ltd.,

105, Maanasa,

St. Mary’s Road,

Mylapore, Chennai.

Computer software

Chennai

100%

0.10

7

M/s. Sesami.Com Pte Lte,

73, Science Park, Drive

#01-06/09, Cintech 1 Building, Singapore.

M/s. Sesami.Com Pte. Ltd, C/o M/s. Sesami.Com (India) Pvt. Ltd., Kamla Mills,

1st Floor, Process House Building, Senapati Bapat, Mumbai – 400 013.

Engaged in end-to-end business to business commerce solutions to companies in the Indian sub-continent.

Mumbai

Extension of validity of FC approval for further two years.

No fresh inflow

is involved.

8

  1. M/s. Silverline Holdings Corpn,
  2. M/s. Subra Mauritius Ltd.
  3. M/s. Shreyas Holdins Ltd.

M/s. Silverline

Technologies Ltd.,

Unit 121, SDF-IV, Seepz, Andheri (E),

Mumbai – 400 006.

Computer software development

Mumbai

Issue of 20 million warrants on preference basis.

102.00

9

Mr. Masaru Yamaguchi, Japan

Mr. Sanjay Bahuguna, NRI, New Zealand

 

Harbomin Himalayas Ltd

92, Saraswati Apptt,

Plot No. 26/3, Sector-9

Rohini, Delhi

Export Herbal extracts mainly for the cosmetic industries

Delhi

Restructuring of equity

No fresh inflow

is involved

10

Rama Mines (Mauritius) Ltd

3rd Floor, Harbour Front Building

John Kennedy Street, Port Louis

Republic of Mauritius

Wasper Trading Ltd

14th Floor, Air India Bldg.

Nariman Point

Mumbai

Mining exploration

Mumbai

100%

50.00

11

M/s. Ikarus Solar A.G., Germany

M/s. WEBEL-SL Energy Systems Ltd.,

Plot No. N1, Block-GP,

Sector-V, Salt Lake Electronics Complex,

Kolkata – 700 091.

Manufacture of solar cell, solar PV Module & solar PV & Hybrid System.

Kolkata

Change in foreign collaborator.

No fresh inflow

is involved.

12

M/s. Geodis Asie S.A.,

183, Avenue De Clichy-75017, Paris, France.

M/s. Geodis Overseas Pvt. Ltd.,

A-133, Road No. 4,

Street No. 5, Mahipalpur Etension,

New Delhi - 110037

To carry on the activities of cargo handling in- cidental to land trans-port, water transport & air transport.

Chennai.

85%

1.19

13

M/s. Aldes Aeraulique

20, Boulevard Joliot-Curie, 69694 Venissieux Cedex, S.A. France

Mr. Anil Maheshwari,

"Gyatri Anand" C-14,

Sector-33,

Noida – 201 301

To provide air diffusion, quality & management solutions and related services in India.

Bangalore

100%

25.00

14

M/s. Permasteelisa Pacific Holdings Ltd.,

#17 Tuas Avenue 3,

Jurong Town,

Singapore – 639414

M/s. Permisa-ECIE Pvt. Ltd., Tumkur Road,

Post Box No. 3,

Bangalore – 560 057

Engaged in the manufacture & assembly of Unitised Curtain walls for building exteriors.

Bangalore

Increase in foreign equity from 50% to 51%

0.0052

15

M/s. Neuman & Essar,

Verwaltungs-und Beteili-

Gungsgesellschaft mbH,

Germany.

M/s. Neuman & Essar,

C/o Deepak Gogate,

A-1/16, Chintamani,

Anand Park, Aundh,

Pune – 411 007.

Engineering products & service activity and project engineering activity for export as well as in the domestic tariff area.

Pune, Maharashtra

80%

0.46

16

  1. M/s. Owens Corning, USA
  2. M/s. Archway Investment Ltd.

M/s. Owens-Corning (India) Ltd.,

301-310, A Wing,

‘Bonanza’ Sahar Plaza

Complex M.V. Road,

Andheri (East),

Mumbai – 400 059.

Manufacture of glass fibre for use in composites.

Not indicated

Increase in foreign equity from 61.99% to 72%

7.35

17

India Seed Holdings Ltd

10, Frere Felix,

de Velouis,

Port Louis, Mauritius

GE Technologies & Services Pvt Ltd

5-5-605/A, Goshamahal,

Hyderabad, AP

Scientific research and development for new and improved hybrid and other varieties of seeds through plant breeding technology and bio-technology

Hyderabad

100%

0.50

18

  1. PGS International N.V., Netherlands

(ii) M/S. Biogenetic Technologies BV, Netherlands

M/s. Proagro Seed Company Ltd.,

A-304, Ansal

Chambers-I,

3, Bhikaji Cama Place,

New Delhi – 110066.

Development & marketing of certified high yielding seeds of various crops and vegetables.

Toopran & Nednoor

Amendment in the existing FC approval

No fresh inflow

is involved.

19

M/s. Clause Semences

1 Avenue Lucien Clause,

91221 Bretigny Sur-orge

Codex, France

Clause Seeds (India) Pvt Ltd

6-1-20/2, walker Town

New Bhoiguda,

Secunderabad

Andhra Pradesh

Import hybrid vegetables seeds from France in bulk, repack and sell through the Indian wholesale distribution channel

Not applicable

Acquisition of 10,000 shares

0.01

20

Kalpak International Inc.

100 Central Avenue,

Hillside New Jersey

07205

USA

100% Subsidiary

Cash & Carry wholesale trading of woven labels, printed labels & printed tags

New Delhi

100%

0.25

21

Mr. Miyama Hotta &

Mr. Naoya Hotta

162-12. Tijino Sakai

Osaka, Japan

I.I.I. Overseas Pvt Ltd

1898/18, Ground Floor,

Govindpuri Extension

New Delhi

Merchant exporter of ready made garments and quality monitoring services related to Indian goods

New Delhi

50%

0.05

22

Jens Herz Bach

Flat 17 A, Tower II

8 Robinson Road

Hong Kong

Kheitex Sourcing India Pvt Ltd

13, Dhaya Gardens,

Near S.R. Lakshman Nagar

Singanallur, Coimbatore

Sourcing of garments for export

Coimbatore

90%

0.27

23

Mr. Hiroshi Onishi,

Bell Land 22, II F Osakha

Ekimaee Dai-3,

Building 3-100 1- Ban,

1-Chome Umeda, Kita-ku,

Osaka City,

Osaka Prefecture, 4Japan 530-0005

M/s. Matex India Pvt. Ltd.,

207-208, Chopra Complex, 2nd Floor,

8, Community Centre,

Preet Vihar, Vikas Marg

Delhi – 110092.

Acting as a sourcing agent in India for its overseas principal for import of textile machinery, spare parts and accessories.

Delhi

72.58%

0.14

24

BASF Group, Germany

BASF Industries Pvt Ltd

7, Basant Lok

Vasant Vihar

New Delhi

Permission for trading in items manufactured by SSI Sector by providing its brand names and international standards for technical service

Ahmedabad

Amendment in the existing FC approval

No fresh inflow

is involved

25

Knoll AG

Knoll AG

Postfach 21 08 05

67008 Ludwingshafen,

Germany

M/s. Knoll International Ltd

17 R Kamani Marg

Mumbai

Import of laboratory reagents and diagnostic reagents subject to no retail trading

Delhi

Change of foreign collaborator due to overseas acquisition

No fresh inflow

is involved

26

Siemens AG

Freyesleben Strasse 1

D-91058, Erlangen

Germany

Bharat Heavy Electricals Ltd

BHEL House,

Sri Fort

New Delhi.

Manufacture of steam turbines, turbo generators, lateral and axial condensers

Not indicated

Extension of technical collaboration agreement

No fresh inflow

is involved

27

Muller Martini (Singapore) Pte Ltd

Singapore

Muller Martini India Pvt Ltd

71-73, Udyog Bhavan

Sonawala Road,

Goregaon(E), Mumbai

To sell the entire range of Muller martin machinery, install, service, repair and train its customers in the operation of machinery

Mumbai

Amendment in the existing FC approval

No fresh inflow

is involved

28

M/s. ATLAS COPCO A.B., Sweden

Ms. Atlas Copco (India) Ltd

Mahatma Gandhi Memorial Building

Netaji Subhas Road,

Mumbai

Manufacture of air compressors and rock drills, air and gas compressors etc.

Mumbai

Increase in foreign equity upto 74% as a result of buy-back

No fresh inflow

is involved

29

Koniklijke Philips Electronics N.V

Building HRT

P.O. 77900

1070 MX Amserdam

The Netherlands

100% Subsidiary

Assembly/customization of printed circuit boards as well as any other manufacturing services for manufacturers of all kinds of electronic products

Mumbai

100%

5.00

30

Inaltus Limited

Hill House,

Little New Street,

London EC4A3TR, UK

Inaltus.com (India) Pvt Ltd

12, Manik Apartments,

Bhawani Shankar Road

Dadar(w), Mumbai

Back office data processing operations

Mumbai

Transfer of 101 equity shares of Rs. 10/- each

0.0001

31

Transatlantic Corporation Ltd

3rd Floor, Cerne House,

LA Chaussee, Port Louis

Mauritius.

Strategic Ventures Fund (Mauritius) Limited

CITCO (Mauritius) Ltd

Cathedral Swuare

Port Louis,

Mauritius

Supreme Telecommunications Ltd

107, B-wing,

Mhatre Pen, Senapati

Bapat Marg,

Dadar(W), Mumbai

Design, engineering and implementing private and public infrastructure and software development

Mumbai

Conversion of OCB into foreign equity

No fresh inflow

is involved

32

Arrk Limited

Greenheys Centre

Manchester Science Park

Pencroft Way

Manchester

M156JJ, UK

Arrk Solutions Private Limited

201, 2nd Floor, Tej Mahan Apts,

J.B. Nagar,

Andheri(E), Mumbai

Development of software

Mumbai

100%

0.01

33

Plus one Management Group LLC

44992, George Washington, Buld,

Ashburn YA 20147, USA

Plus one Technical solutions Pvt Ltd

5/B/506, Royal Apartments

Khanpur, Ahmedabad

Software development, data processing and website development

Mumbai

Increase in foreign equity from 49.67% to 94.96%

0.009

34

CAPVEN Limited

2, Water Street, Ramsay

Isle of Man, IM 81 JpBritish Isle UK

India Switch Company PVt Ltd

5, Mezzanine Floor

Thapar House 43-44

Monteith Road, Egmore

Chennai

Data and transaction processing, software development and consultancy

Chennai

Reduction in equity base resulted into increase in foreign equity from 10.20% to 21.05%

No fresh inflow

is involved

35

Walden Nikko Mauritius Co. Mauritius

Walden Internet Investments Ltd, Mauritius

Webdunia.com (India) Ltd

3rd floor, Jaipur Gems

Apartment, Opp. BR Films

15th Roadm Santacruz

Mumbai

Design, develop and deploy internet website and portals, provide e-mail, e-commerce and internet related services

Mumbai

Increase in Foreign equity from 22.15% to 42.80%

3.27

36

Ingram Micro Asia Ltd

205, Kallang Bahru, NO 04-00

Singapore

Spectra Innovations (India) Private Ltd

C/o. M/s. Ingram Micro India Pvt Ltd

Sadath Meridian, No.2

Ulsoor Road

Bangalore

Mfr/integrate and distribute sub-systems or computers, storage systems and hybrid products for IT/communications industry parts and accessories

Pondicherry

Increase in foreign equity from 51% to 100%

1.51

37

M/s. Microchip Technology Inc

MCHP Inc.

103, Foulk Road, Suite 280, Wilmington

DE 19803, USA

Microchip Technology Designs (India) Pvt. Ltd

20/2, Vittal Mallya Road

Bangalore

Development of computer software, market support function for the embedded control products

Bangalore

Transfer of only 2 equity shares

No fresh inflow

is involved

38

Mr. Sheik Suhail Salim Abdullah Bahwan Al Mukhaini, Sultanate of Oman

Ms. Hind Suhail Salim Bahwan Al Mukhaini, sultante of Oman and

Ms. Amal Suhail Salim Bahwan Al Mukhaini, Sultanate of Oman

Bahwan cybertek Technologies Pvt Ltd

7th Floor, Guna Off Complex Annexe 305/1, Annasalai, Chennai

Development of computer software

Chennai

Down stream investment upto 100%

0.50

39

JP Morgan Services Asia Holdings Limited

10, Frere Felix de Valois Street, Port Louis,

Mauritius

J.P. Morgan Services India Private Limited

Vakils House

Bellard Estate,

Mumbai

Computer consultancy, software supply, data processing services, data bank activities

Greater Mumbai

Increase in foreign equity from 96.81% to 100%

0.075

40

M/s. Japan Airlines Co. Ltd., Japan.

M/s. Indo Japan Air Services Pvt. Ltd.,

Chandralok,

36, Janpath,

New Delhi – 110001.

Tourism & travel related services.

Not indicated

Increase in FE from 74% to 100%

0.052

41

Gemini Fashions of Canada Limited

61, Juno Street,

Winnipeg MB

Canada R3A 1T1, Canada

Sun & Ski Exports Pvt Ltd

104/2A, Tavarekere Main Road

Tavarekere,

Bangalore

Manufacture and export of speciality garments

Bangalore

50%

1.94

42

Ohio Mattress Company Licensing Components group

One Office Parkway,

Trinity, NC 27270

USA

Sealy Kurlon Limited

321, III floor,

South Block, Manipal Centre,

47, Dickenson Road

Bangalore

Manufacture of spring based mattresses

Bangalore

Increase in foreign equity from 50% to 100%

As per SEBI/RBI pricing norms