31st July, 2002
Ministry of Commerce & Industry  


MARAN CLEARS FDI PROPOSALS WORTH Rs. 214 CRORE


Shri Murasoli Maran, Union Minister of Commerce & Industry, has cleared 46 Foreign Direct Investment (FDI) proposals involving FDI worth Rs. 214 crore. The major investment proposals pertain to sectors such as insurance, manufacture of automotive components & plastic parts, manufacture of electrical & automotive components, mines, telecommunication, software development and information technology related 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.

FDIPROPOSALS CLEARED

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

Atofina SA

4-8 Cours

Michelet, LA

Defense 10

Cedex 42

France, paris

Atofina Peroxides India Ltd

8, Cathedral Road

Chennai

Manufacture of organic peroxides

Not indicated

Increase in foreign equity from 51% to 100%

0.47

2

Sumitomo Chemicals Company Limited, Tokyo

Sumitomo Chemical India Pvt Ltd

93/9th Floor,

Maker Chambers VI

220, Nariman Point

Mumbai

Import and test marketing of Gibbrellic acid and Bacillus Thiringiensis variety, Kurstaki and certain additional products

Not indicated

Permission for test marketing

No fresh

Inflow is

Involved

3

Dimal Asia Pacific Sdn Bhd

3221 & 3226 Batu 29

Jalan lpoh 44300 Batangkali, Selangor

Malaysia

Dimal Refractory supply & services Pvt Ltd

104, Bharat House,

Ist Floor, Mumbai Samachar Marg,

Fort, Mumbai

Dealing with refractory products, accessories, engineering services etc.

Raigad, MP

30%

0.15

4

1) Al Reyami Office Furnishing & General Trading

2) Excel Middle East

PO BOX 14662

PO BOX 31570

Dubai, UAE

Excel OECE India Private Limited

Sir Vithaldas Chambers

16, Mumbai Samachar Marg, Fort,

Mumbai

Establishing a repacking/reprocessing/

Re-mixing facility for service providers like carpenters, interior decorators and import of world class chemicals, solvents etc.

Mumbai

100%

0.70

5

CHUBB Global Financial Services Corporation

15 Mountain View Road,

P.O. Box 1615, Warren,

New Jersey 07061-1615

HDFC CHUBB general Insurance Company Ltd

Ramon house,

HT Parekh Marg

169 Backbay Reclamation,

Church Gate, Mumbai

General Insurance company

Mumbai

26%

73.76(including premium)

6

Pinecliff Limited

South Central,

11, Peter Street,

Manchester, M2 5 LG,

England, UK

Sona Investment Ltd

Indraprakash 13th Floor

21, Barakhamba Road

New Delhi – 1

Down stream investment Investment in auto components and other sectors

New Delhi

Increase in foreign equity from 30% to 45%

10.00

7

i-Vantage Inc

One Broadway, 14th Floor

Cambridge MA 02142

USA

i-Vintage India Pvt Ltd

i-Vintage House

59, Sikh Road Jupiter Colony Road No.

Secunderabad

Software development and IT enabled services

Secunderabad

Increase in foreign equity from 75% to 99.975%

0.0099

8

Mr. Alfred Wolfgang

Mr. Meraj Hasan

21030 Windemere Lane

Boca Raton, FL 33428

USA

American Bakery concepts India Pvt Ltd

2, Nityanand Consumer’s Co-op Society

Nityanand Nagar No IV

Near Post Office

Andheri (E), Mumbai

Development of American food concepts, manufacture of bakery products other than SSI sector

Mumbai

95%

0.95

9

CLASS KgaA mbH

Muensterstr, 33

Harsewinkel

Germany

Escorts Class Ltd

C/o. Escrots Ltd

11, Scindia House,

Connaught Circus

New Delhi

Manufacture of self propelled combine harvestors & Agriculture harvesting machinery

Not indicated

Increase in foreign equity from 40% to 100%

4.20

10

Sinjin Engineering Co Ltd

Ipsilli 29, 3 Oyedong-up

Kyungju city

Kyungsangbukdo

Korea

Sinjin Engineering Company Ltd

C/o. Mr. P. B. Vijayaraghavan,

Vihayaraghavan & Assocites

Chartered Accountants

51 Gri Road

T. Nagar, Chennai

Manufacture of automotive components and plastic parts

Chennai

100%

18.80

11

USX Engineers & Consultants Inc

600 Grant Street,

Pittsburg, Pennsylvania

PA- 15219-2749, USA

UEC-SAIL Information Technology Ltd

Piccadily House,

Ist Floor, 275-276,

Capt. Gaur Marg,

Srinivaspuri, New Delhi

Software development and information technology services

New Delhi

Increase in foreign equity from 60% to 100%

1.00

12

Daejung High Polymer Industry Co. Ltd

# 1696-5, Sini Dong, Daeduk-ku, Taejon, Korea

100% subsidiary in the name of M/s. Daejung Moparts Private Ltd

Manufacture of sophisticated engineering rubber/polymer components including "O" rings & gaskets for automotive and HI applications

Chennai

100%

2.50

13

Mr. John Wylie, &

Mr. Dan Presley

13555, GE, 36th Street,

Suite 260, bellevue,

W.A. 98006, USA

M/s. Jojai Global Ltd

LB-3/3, Manu Apartment, Mayur Vihar

Phase-I, New Delhi

Development of Computer Software

Noida, Uttar Pradesh

Increase in foreign equity and reduction in NRI equity

No fresh

Inflow is

Involved

14

M/s. Samsung Electronics Co. Ltd.,

South Korea

M/s. Samsung Electronics India Information & Telecommunication Ltd.,

47, Ring Road,

Lajpat Nagar,

New Delhi – 110024

Test marketing of specific state of art high tech high value models, import and market entire range of PC components in India

Delhi

Amendment in the existing FC approval

No fresh

Inflow is

involved.

15

ISoftel Ltd,

9, Penang Road

# 10-08 Park mall,

Singapore

Isoftel Telecommunications Private Limited

313, Prestige Centre Point, Cunningham Road, Bangalore

Computer consultancy, computer software

Bangalore

100%

0.01

16

E credit.com. Inc

20, Carematrix Drive,

Dedham, MA 02026

Massachusetts, USA

Software Systems re-engineering (India) Pvt Ltd (Now, M/s. eCredit India Pvt Ltd)

# 13/1, Ist Cross

Lavelle Road Bangalore

Development of software both for domestic and export markets

Bangalore

Transfer of only 1 shares of RS. 100/-

No fresh

Inflow is

involved

17

M/s. TOS Corporation, Japan

Mr. Kazuya Matsudaria, Japan

Mr. Tomoko Ueda, Japan

Mr. Gen Mishiba, Japan

Jin Information Systems

401, Oxford House,

3rd Floor, 15 Rustam Bagh, Main Road, Off. Airport Road, Bangalore

Development of Computer software

Bangalore, Karnataka

Amendment in the existing approval

No fresh

Inflow is

involved

18

M/s. SDI Infotech Inc.

15825 Shady Grove Road

Suite 100, Rockville,

MD 20850, USA

M/s. SDI Infotech Pvt Ltd

A-36, Gulmohar Park,

New Delhi

Development of computer software

New Delhi

Amendment in the existing approval

No fresh

Inflow is

involved

19

M/s. Logic Vision Inc

101, Metro Drive, 3rd Floor, San Jose,

CA 95110, USA

M/s. Purple Vision Technologies (P) Ltd

3430, 10th Main,

3rd Cross, Indiranagar II stage, Bangalore

Development of computer software

Bangalore, Karnataka

Increase in foreign equity from 42.12% to 100%

0.029

20

AAPC Asia Pte Ltd

D,138, Rabinson Road

#17.00, Hong Leong Center E,

Singapore

Meris International Hotels Pvt Ltd

462, A.B. Nair Road,

Juhu, Mumbai

Developing tourism related projects

Not applicable

Increase in foreign equity from 74% to 100%

1.41

21

Ms Francoise Le Guillou

1, Avenue Flouquet

L’Hay Les Roses Val De Marne, France

Setting up of a proprietary concern

To operate restaurant business

Delhi

100%

0.30

22

Voest Alpine Industrieanlagenbau GmbH(VAI)

GESELLSCHAFT M.B.H

Turmstrabe 44

Postfach 4, A-4031 LINZ

AUSTRIA

VAI India Private Limited

Sector V, Block EP

Plot Y 5

Salt Lake Commercial Comp

Salt Lake city

Kolkata

Providing engineering and procurement services

Not indicated

Conversion of ECB into equity

2.00

23

M/s. Edgefield Securities Limited 3rd Floor,

Les Cascades, Edith Cavell Street,

Port Louis, Mauritius

JK Corp Limited

Gulab Bhavan(Rear Wing)

3rd Floor,

6, Bahadur Shah Zafar Marg,

New Delhi-2

Automotive Tyres, Sugar Hybrid seeds

Kolkata

13.45%

10.23

24

Igarashi Electric Works (HK) Limited

Block No. "A" 3rd floor

Shui ki Ind. Building,

18, Wong Chuk Hang Road, Aberdeen

Hong Kong

CG Igarashi Motors Ltd

Plots No. B-12 to B-15,

Phase II, MEPZ,

Tambaram, Chennai

Manufacture of Electric Micro Motors

Chennai

Increase in foreign equity from 48.94% to 74.99%

3.10

25

A.R. Wilfley & Sons Inc

7350, East Progress place

Suite 200, Greenwood Village, Colarado 80111

A.R. Wilfley India Pvt Ltd

201, Timmy Arcade

Makwana Road,

Marol Naka, Andheri(E)

Mumbai

Importing pumps/parts of the group company and selling the same locally after making value additions

Mumbai

100%

0.10

26

EPOCA S.A

207, Route d’Arlon,

1150 Luxembourg

Prime International

"Jobitham"

9, VGP Murphy Square

1, Cross Street,

Thomas Mount, Chennai

Tanned leathers and all kinds of finished leathers

Ranipet, Tamil Nadu

50%

1.25

27

VMH Watch & Jewellery Singapore Ltd

250 North Bridge # 3204

Raffles City Tower

Singapore

100% WOS

C/o. Pricewaterhouse Coopers(P) Ltd

Sucheta Bhawan,

(Gate No. 2, Second Floor) 11-A, Vishnu Digamber Marg,

New Delhi

Imports and wholesale trade of LVMH products i.e, watches and fashion accessories and carrying out marketing, promotion and related support activities

Delhi

100%

2.35

28

The Medical Export Group of Netherlands

Avelinden West

40,4202

MS GORINCHEM

The Netherlands

Svizera Labs Private Ltd

Plot No. D16/6,

TTC Indl. Area, MIDC

Turbhe, Navi Mumbai

Manufacture and sale of all types of medicines and medical preparations

Navi Mumbai

25%

0.025

29

Brantford chemicals Inc

34 Spalding Drive,

Brantford, Ontario

Canada N3T 6B8

Srini Pharmaceuticals Ltd

Plot No. 10, Type-C

Road No 8 Film Nagar, Jubilee Hills Hyderabad

Manufacture of bulk drugs and drug intermediaries and export

Hyderabad

50%

7.5

30

CNI Corporation (M) Sdn Bd, Malaysia

Wisma CNI 2 Jalan U1/17, Seksyen U1

Hicom-glenmarie Industrial Park 40000 Shah Alam

Selengor DE

100% subsidiary in the name of M/s. CNI Enterprise(India) Pvt Ltd

Bangalore

Test marketing and contract manufacturing of nutritional and health food etc.

Bangalore

100%

2.35

31

M/s. Texellent APS (O.C.B.), Hassel Haven 23, P.O. Box 68,

DK-8520, Lystrup, Denmark.

IFSC Oils & Fats India Pvt. Ltd., C-112, Jiwan Park, Pankha Road,

New Delhi – 110059

Engaged in bulk/whole sale trading & exports of oils & fats, food products.

Gurgaon, Haryana

Increase in foreign equity from 51% to 100%

0.314

32

Peirce Leslie & Co Ltd

UK

Peirce Leslie India Ltd

37, P.V. Cherian Crescent,

Egmore, Chennai

Travel & Tourism business

Chennai

Increase in foreign equity from 67% to 100%

0.87

33

Mahle Filtersysteme GmbH

Pragstrasse, 54 Postfach

D-70336, Stuttgart,

Germany

Kirloskar Mahle Filter Systems Private Limited

13/A, Karve Road,

Kothrud, Pune, Maharashtra

Development, manufacture and distribution of filters for industrial and automotive applications

Pune

Increase in foreign equity from 50% to 91.70%

6.65

34

Mr. Lee Snag Man &

Ms. Sun Kyung Chang

South Korea

West Asia Communications Pvt Ltd

B-60, II nd Floor

Gulmohar Park

New Delhi-49

Promote Indian artwork, Literature, Handicrafts commercial films and documentaries in South Korea and other Asian Countries

Not indicated

Amendment in the existing FC approval

No fresh

inflow is

involved

35

Vico Technology Inc.

USA

 

Adaptive Technology (India) Pvt Ltd 301-305, Sahajanand Trade Centre, Opp. othawala Flats Ashram Road, Ahmedabad

Development of Computer Software

Gandhinagar, Gujarat

Amendment in the existing approval

No fresh

Inflow is

Involved

36

Van Gogh Investments Ltd

4th Floor, Li Wan Po House,

12, Redmy Ollier Street,

Mauritius

Western Outdoor Interactive Pvt Ltd

4th Floor, ‘G’Block,

Dhanraj Mahal,

Chhatrapati Shivaji Marg Mumbai

Software development

Mumbai

100%

30.00

37

Maxim Integrated Products

120, San Gabriel Drive,

Sunnyvale, California

USA

Maxim India Integrated Circuit Design Private Limited Divyasree Chambers, "A" wing. 2nd Floor, Langford Road, Bangalore

Design, development of integrated circuits for semi-conductors and export the same

Bangalore

Increase in foreign equity from 88% to 100%

0.01

38

Cadcentre Limited

High Cross Madingley Road

Cambridge CB 30 HB

England

Cadcentre Limited

High Cross Madingley Road

Cambridge CB 30 HB

England

Software development and other ancillary works

Bangalore

Amendment in the existing FC approval

No fresh inflow is involved

39

E Bookers Plc

25, Farringdon Street,

London EC4A 4AB

UK

Technovate Data and Services Private Ltd

34/36, Okhla Phase 3

New Delhi

Data Processing and call centre services

New Delhi

Increase in foreign equity from 99.5% to 100%

0.01

40

a) Mr. Dravid John, Hillside house, Main St, Gumley, Near Mkt

Harbouroug, Leicester

LE 16 7 RU, UK

b) Mr. Ashok Kwatra

24 Bournside Road

Cheltenham, Gluoucestershire,

GL 51 3AH, UK

c) Mr. Rakesh Khosla

26, The Drive, Lilford,

Essex IG1, 3HU, UK

M/s. VFM Solutions Pvt Ltd

C 1A/120B, Janakpuri

New Delhi

Software consultancy

Delhi

75%

0.0075

41

Metdist Ltd, UK

Metmin Exploration Pvt Ltd 161/162, Mittal Court, ‘A’ Wing, Nariman Point, Mumbai

Exploration, development, mining and processing of base and precious metals

Mumbai

100%

25.00

42

Weatherford/Lamb

515 Post Oak Boulevard,

Suite 600, Houston,

Texas 77027

USA

100% subsidiary

Provide specialized turnkey services and innovative mechanical solutions, technology and services for drilling, completion and production sectors of oil and gas industry and to undertake the manufacture of oilfield equipment

Vadodara, Gujarat

100%

0.50

43

X Serve BV1 Corp

PO Box 957, Offshore

Incorporations Centre

Road Town, Tortola

British Virgin Islands

Rahul Gupta,

Flat NO. 107

Sunbreeze Apartments

Vaishali, Ghaziabad

Telecommunication` and software development project

Bangalore

100%

5.00

44

Lotus Growth Capital Ltd

Port Louis, Mauritius

Vulcan Moulds & Dies Pvt Ltd 32nd Mile Stone

Chander Nagar Estate

Delhi Jaipur Highway

Gurgaon, Haryana

Manufacture of Moulds and Dies etc.

Gurgaon, Haryana

Conversion of loan into equity

2.69

45

Yale Security Products Ltd

England

M/s. Yash Safety Product (India) Ltd

Sharp & Tannan

Chartered Accountants

BOB Building

B.S. Marg Mumbai

Manufacture of Pad locks furniture locks and other locks

Not indicated

Amendment in the existing FC approval

No fresh

inflow is

involved

46

M/s. rapid Building System Pvt Ltd

Australia

1590, Main North Road

Brahma Road, South Australia, 5109

CAN 054779930

M/s. Gypcrete Building India (Pvt.) Ltd

Majestic Ashirwad

22, Sivasailam Road

T. Nagar, Chennai

Manufacture of Gypcrete plaster compound for the benefit of plastering of traditional type of construction etc.

Tamil nadu

24%

1.44