3rd April, 2003
Ministry of Finance & Company Affairs


52 FIPB PROPOSALS CLEARED


The Union Minister of Finance and Company Affairs, Shri Jaswant Singh has approved 52 proposals recommended by the Foreign Investment Promotion Board (FIPB) in its meetings held on March 13 and March 21, 2003. The approvals amount to around Rs.321 crore. The major investment proposals pertain to sectors of manufacture of Internal combustion diesel engines, manufacture of pneumatic tyres of rubber, manufacture of ready made garments, information Technology, software development and NBFC activities.

The details of proposals cleared are as follows:

S.No.

Name & Address of the existing/proposed 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

South African Breweries International ( Asia) BV

2, Jan Smuts Avenue

Braamfontein

Johannesburg 2001

South African Breweries (India) Private Limited

28, Sardar Patel Marg,

New Delhi-21

Setting up holding company to make investments in the brewery sector

Nawabganj, Gonda, UP

Acquisition of 15% resident equity

8.00

2

M/s. Schutz & Co Beteiligungsgesellschaft mbH,

Kattrepelsbruke 1

D-20095 Hamburg,

Germany

M/s. scheutz & Co (India) Pvt Ltd

A 45/101, Sec 3, Shanti Nagar

Mira Road (East)

Distt. Thane, Maharashtra

Exporting and marketing of pharmaceutical and cosmetical ingredients, excepients, intermediates and preservatives worldwide

Thane, Maharashtra

80%

0.16

3

Graham Stephen Kay

2237, Dunedin Road

Oakville,

ON, L6J 5V4, Canada

SDP Trading Private Ltd

62/15, Old Rajinder Nagar

New Delhi-60

Manufacturing, wholesale trading, buying, selling, importing, exporting in all kinds of apparels and accessories related thereof

New Delhi

100%

0.01

4

CNI Corporation (M) Sdn. Bhd, Malaysia

Wisma CNI

2 Jalan U1/17, Seksyen UI

Hicom-glenmarie Industrial park,

400 Shah Alam,

Selanfore DE

CNI Enterprise (India) Pvt Ltd

Crown Point Building

No. 36 Ground and

Mazaning floor, Lavelle Road,

Kasturba Road Cross

Bangalore

Manufacture of CNI Café, CNI Milk Tea and Nutri 10 Family Cereal

Bangalore

Amendment in the existing FC approval

No fresh

Inflow is

involved

5

  1. M/s. Tandy Agriculture Ltd, Israel
  2. M/s. Hovev Agriculture Ltd, Isreal
  3. M/s. Vinton Investments Ltd, 36, whitefriars Street, London, UK

M/s. Terra Agro Technologies Ltd

1087 A, Avanashi Road

Coimbatore, Tamil Nadu

Dehydrated Vegetables and fruits

Coimbatore, Tamil Nadu

Increase in foreign equity from 4.86% to 36.56%

5.25

6

M/s. Battaerd Mansley Pty Ltd

ABN 46 102513539

Windsor House

748 Pacific Highway

Gordon NSW 2072

Australia

100% WOS

Providing pharmaceutical promotion data, and consulting services and related services

Mumbai

100%

0.01

7

Mr. G.D. tait,

40, Vicarage Drive,East Bourne Sussex, England, UK

M/s. GT Cargo Fittings Pvt Ltd,

308, Neelkanth Palace, 190, Sant Nagar,

East of Kailash, Delhi

Parts used in Motor vehicles for transport of goods, special purpose vehicles like cranes, lorries etc.

Noida, UP

Increase in foreign equity from 50% to 100%

0.005

8

M/s. CVIJ Inc. USA

M/s. Champion Voyager Designers Pvt Ltd

247/2, Hinjawadi, Tal Mulshi, Pune

Embroidery Software Design Development

Pune, Maharashtra

Amendment in the existing approval

No fresh

Inflow is

Involved

9

Daniel W. Corcoran & Yunji L. Corcoran of USA

M/s. iGration Technology Solutions Pvt Ltd

Unit No. N310 Ideal Plaza

11/1, Sarat Bose Road

Kolkata – 700 020

Software development for exports

Kolkatta

Increase in foreign equity from 97.36% to 100%

0.01

10

PSDI Australia Pty Ltd

4/76, Berry Street,

North Sydney

NSW 2060

M/s. PSDI India Pvt Ltd

C/o. Chandak & Co

41-L, Connaught Circus

New Delhi-1

Establish manufacturing and development centre for maintenance management system

etc.

Delhi

Addl. Infusion of funds by way of issue of fresh issue of 4,36,748 preference shares

0.45

11

Individual Foreign nationals

M/s. OPTO Circuits (I)Ltd

Plot No. 83, Electronics City, Hosur Road

Bangalore

Photo Transistors/LED etc.

Bangalore, Karnataka

Amendment in the existing approval

No fresh

Inflow is

involved

12

Euronet Worldwide Inc

4601, College Boulevard

Suite 300, Leawood

Kansas, USA

Euronet Services India Private Limited

13/2/1. 36th Cross

11th Main,

Jayanagar, Bangalore

IT enabled services in the banking sector

Bangalore

Transfer of subscriber shares

2.00

13

a. M/s. First American IndiaHoldings, One First American Way, Santa Ana CA, USA

b. M/s American Driving Records Inc. US.

M/s. Zapapp India Pvt Ltd

Unit 3, 7th Floor

Innovator Building

Whitefield Road

Bangalore

Development of Computer Software (under STP Scheme)

Bangalore, Karnataka

Transfer of shares from non-resident to non-resident and also transfer of 100 subscriber shares

Negligible

Amount of

Inflow is

Involved

14

Skyworks Solutions Inc

Woburn, Mass, USA

M/s. Skyworks Solutions India Pvt Ltd

Logix Park,

A-4/A-5 Sector 16

Noida, Uttar Pradesh

Development of Computer Software, IT enabled services

(under STP scheme)

Noida, UP

100%

0.01

15

Mr. Srinivasan Ravichandran, USA

M/s. AllNet Systems Pvt Ltd

A-5, Shanti Flats

4, Appu Street,

Mylapore, Chennai

Internet Service Provider

Chennai, Tamil Nadu

Increase in foreign equity from 83.33% to 100%

0.036

16

Sanmina-SCI

SCI Manufactuirng Singapore Pte Ltd

No 3 Depot Close

Singapore 109840

Sanmina-SCI India Private Limited

8th Floor, Westminister

108 Dr. Radhakrishnan Salai, Mylapore,

Chennai – 4

Manufacturing and marketing of sub-assemblies and finished goods for clients in the communication, computing and electronics industries

Chennai

100%

4.91

17

M/s. Netafim Yietah Irrigation Equipment & Drip Systems

Israel

M/s. Netafim Irrigation India Pvt Ltd

Ist Floor, 297,

C.S.T. Road

Vidyanagri, Kalina

Mumbai – 400 098

Manufacture, distribution and sale and after-sales service oftyphoon family of non-pressure compensated drippings and button Drippers for dispensing liquids for agricultural/

Horticultural purposes

Not indicated

Transfer of shares from Non resident to Non resident and also increase in foreign equity from 75% to 100%

2.00

18

Quintiles Transitional, USA

(through its subsidiary Quintiles Mauritius)

Quintiles Spectroal Ltd(QSL)

3, Ashoknagar Bungalows

Behind Sundervan

Sateellite road

Ahmedabad – 380 015

Business of clinical research

Delhi

Down stream investment (Ex-post Facto approval)

No fresh

Inflow is

Involved

19

M/s. Investment Holding GmbH

CH- 3011 Bern

Kramgasse 33

Germany

100% WOS

C/o. Mohinder Puri & Company

Chartered Accountants

1A-D, Vandhna

11, Tolstoy Marg,

New Delhi

Marketing hi-tech printing machines requiring specialized knowledge, after sales service and rendering of technical services

Not indicated

100%

0.125

20

Guidant Nederland BV

Kuifmees 56

3435 RG Nieuwegein

The Netherlands

100% WOS

Importing, selling, marketing, pre-sales and related activities

New Delhi

100%

0.50

21

M/s. Anton Hettich Auslandsbeteiligungs-verwaltungs GMBH

Vahrenkampstr,

12-16, 32278, Krichlingern, Germany

Hettich India Pvt Ltd

Application Centre

61, Punchkuian Road

New Delhi-1

Manufacture, produce and distribute furniture fittings like hinges, etc and cash & carry wholesale trading in furniture fittings and hardware for wood working industry

Chennai, Tamil Nadu

Carry on additional activities and also investment of addl. Funds

2.25

22

Mr. Manoj Babani

61 Edgewood St

Tenafly NJ USA

M/s. Fashion Force Pvt Ltd

A-1/1, Okhla Indl. Area

Phase- I, New Delhi

Export of Readymade garments

Delhi

99%

0.495

23

Mr. Manoj Babani

61 Edgewood St

Tenafly NJ USA

M/s. Sassun Fabrics Pvt Ltd

A-1/1, Okhla Indl. Area

Phase- I, New Delhi

Export of Readymade garments

Delhi

98.92%

0.475

24

a. Mrs. Smits Patel, USA

b. Mr. Rajnikatn Patel, UK

c. Mrs. Meera Patel, Kuwait

d. M/s. United Trade & Services Ld, UK

M/s. Surajgovind Estate Pvt Ltd

Govind Bhawan

2, Biplabi Trilokya

Maharaj Sarani, Kolkata

Tea Plantation and manufacturing

Jalpaiguri, West Bengal

70%

1.4

25

M/s. Bausch & Lomb South Asia Inc. USA

C/o. New Delhi Law Office

Rajendra Bhawan,

4th Floor,

210, Deen Dayal Upadhyay Marg,

New Delhi-2

M/s. Bausch & Lomb Eyecare (India) Pvt Ltd

C/o. New Delhi Law Office

Rajendra Bhawan,

4th Floor,

210, Deen Dayal Upadhyay Marg,

New Delhi-2

Manufacturing, marketing and sale of soft contact lenses, contact lens care solutions, deproteinising tablets and other eye care products etc.

Bhiwadi, Rajasthan

Transfer of 20 equity shares

Negligible

Amount of

Inflow is

Involved

26

M/s. Caterpillar Inc. USA

M/s. Hindustan Power Plus Ltd (HPL)

Mathagondapalli Hosur

Dharmapuri – 635 114

Manufacture of Internal combustion diesel engines

Not indicated

Acquisition of 62.5% equity by foreign collaborator through public offer to increase in foreign equity to 100%

4.80

27

M/s. Stanley electric Co. Ltd

2-9-13, Nakameguro

Meguro-ku

Tokyo, 153-8636

Japan

M/s. Stanley Electric Engineering India Pvt Ltd

Plot No. 164, Sector-5

IMT Manesar,

Girgapm – 122 050,

Haryana

Production, maintenance stamping, dying of moulds, injection moulds in all shapes, sizes, capacities, modalities and application of systems used for lamps of motorcycle used for lamps of motorcycles/

Automobiles etc.

Manesar Indl. Park. Haryana

Amendment in the existing FC approval

No fresh

Inflow is

involved

28

AB Electrolux

S-105 45

Stockholm

Sweden

M/s. Electrolux Kelvinator Ltd

Flat No. 201-202

A-22, Green Park

Aurobindo Marg

New Delhi-16

Manufacture and marketing of refrigerators, washing machines etc.

Not indicated

Increase in foreign equity upto 100% by acquiring shares through open offer and subscribing to un-subscribed shares of right issue

Inflow not

projected

29

M/s. Bridgestone Corporation,

Tokyo 104, Japan

M/s. Bridgestone ACC India Ltd

Plot No. 12, Kheda Growth Centre,

Post Sagore 454 774, distt. Dhar, M.P

Manufacture of New pneumatic tyres of rubber

M.P. Audyogik Vikas Nigam Indl. Area, Distt. Dhar, Madhya Pradesh

Conversion of ECB into equity

No fresh

Inflow is

Involved

30

M/s. Techumseh Products Company, USA

M/s. TPC Mauritius Holdings Inc. (subsidiary of M/s. Tecumseh Products Company, USA)

M/s. Tecumseh Products India Ltd

Balangar Township

Hyderabad-15

Manufacture and sale of compressors, condensing units and related controls for refrigeration and air-conditioning

Hyderabad

Transfer of 15 shares

Negligible

Amount of

Inflow is

Involved

31

M/s. Eclipse Combustion Inc

1665, ELM Wood Road

Rockford, Illinois

61103, USA

M/s. Eclipse Combustion Inc. USA

C/o. Mr. V.M. Deshmukh

73, Shri Vrindavan Society

Mhatre Bridge

Navi Peth, Pune – 411030

Bringing in India latest know how, drawings and designs to establish the state of the art of manufacturing and assembling the combustion system, burners, its accessories and components

Pune, Maharashtra

Transfer of 10,000 shares

0.01

32

M/s. Brachot Hermant

N.V., E-3 Laan

86-92, B-9800

Deinze, Belgium

M/s. Indigra Exports P. Ltd

743, Ist Cross, 18th Main

6th Block,

Koramangala, Bangalore

Granite Slabs

Bangalore, Karnataka

Increase in foreign equity from 75% to 87.5%

0.30

33

M/s. Intelsat Global Sales & Marketing Ltd, Building 3, Chiswick Park

566, Chiswick High Road

London W4 5YA, UK and

M/s. Intelsat Ltd,

Dundonald House, 14, Dundonald Street West

Suite 201, Hamilton HM 09, Bermuda

Intelsat Marketing India Private Limited 21-24, 11th Floor, International Trade Tower

Nehru Place, New Delhi

Arrange, establish, encourage, promote, manage and organize marketing and sales support operations, and related management and consultancy in Asia Pacific region

Not indicated

Transfer of 10,000 equity shares

0.01

34

G3 Worldwide Aaaspac Pte Ltd

80 Raffles Place

# 33-00 UOB Plaza 1

Singapore – 048624

G3 Worldwide Aspac Pte Ltd

C/o. Kochhar & Company

S-454,

Greater Kailash – II

New Delhi-48

Provide World class Direct mail logistics services including packaging of publications, backroom solutions and print services, construct, operate and maintain warehousing facilities, provide hi-tech laser printing and artwork services

Mumbai

Amendment in the existing FC approval

No fresh

Inflow is

involved

35

Sharp Corporation

22-22, Nagaike-cho

Abenoku, Osaka

Japan

Kalyani Sharp (India) Ltd

Gat No 686/4, Koregaon Bhima

Tal. Shirur

Distt. Pune

Manufacturing of colour TV set, B/W TVSet, Video cassette recorder/video cassette player/VIDM and two-in-one (radio) cum cassette player

Pune

Restructuring of royalty rates

(Amendment in the existing FC approval)

No fresh

Inflow is

Involved

36

M/s. Save Smart Inc. USA

M/s. Data Card Corporation, USA

M/s. Icelerate Technologies Pvt Ltd

24th Main Road,

J.P. Nagar, Ist Phase

Bangalore-560 078

Software development facilities

Bangalore, Karnataka

Transfer of one equity share

Negligible

Amount of

Inflow is

involved

37

Mr. Rabindra Kumar Roy

7431, NW Evergreen Parkway

Suite 220

Hillsboro

OR 97124, USA

Mr. Arup Ratan Gupta

1723, Lucca Place

San Jose CA

95138, USA

Mr. Prasid Ranjan Das Gupta, NRI

22, Sycamore Lane,

Chester Springs

PA 19425

USA

Alumnus Software Ltd

Tower II, 2nd Floor

Plot A-3, Block GP

Sector V

Salt Lake City

Kolkata-91

Data processing, software development and computer consultancy services

Kolkata

Increase in NRI equity from 6.92% to 7.37% by way of transfer of 10,000 shares from resident share holders

0.01

38

  1. Sridhar Talanki
  2. Mr. Vikaram Reddy Kumbham
  3. Mr. Vidyasagar Kancharia
  4. Mr VijayKumbham USA

M/s. Recursion software Ltd

S-7, Alladin Mansion

Begumpet, Hyderabad

Development of computer software

Hyderabad, Andhra Pradesh

14.90% (Equity swap)

No fresh

Inflow is

involved

39

UOP LLC

25 East Algonquin road

Des Plaines, ILLINOIS

60017-5017

M/s. UOP India Private Limited

Industrial Park, Sector 36, Pase City II,

Gurgaon 122004,Haryana

To acquire master licenses of UPO processes and to provide sub-licenses for UPO processes to customers in India and neighbouring countries

Delhi

Amendment in the existing FC approval

No fresh

Inflow is

Involved

40

M/s. Wartsila Development and Financial Services Oy, Finland

M/s. Wartsila India Ltd

24, Siri Fort Road,

New Delhi-49

Development and investment in power projects

Tamil Nadu

30%

5.40

41

Korea-Tex Engineering Co. Ltd

4th floor, Hyang san Building

1203-7, San Gyuk – 4 dong

Buk-Gu, Daegu, Korea

Bee Bee Polymers Private Limited

C-95, Shakti Nagar Extension, Delhi-52

Manufacture PSF Non-woven padding/wadding Health mattresses for domestic/export

Sonepat, Haryana

26%

1.30

42

a. Arnold Mattschull

Germany

M/s. ABM Industriebetelligungsgesellschaft mbH

Germaby

M/s. First Garment Manufacturing Co(I) Pvt Ltd

No. 4/135, Aruppukottai

Main Road Vilayankulam, Madurai

Ready made garments

Madurai, Tamil Nadu

Increase in foreign euity upto 93%

5.935

43

Dongsuh Dynastry Company Ltd

Taesuk Building, 4, 5F

275-5, Yang Jae-Dong

seocho-Gu

Seoul, Korea

M/s. dongsuh Dynasty India P. Ltd

No. 19, 2nd Street,

Usha Nagar

Ullagaram, Chennai-91

Hotels and Restaurant

Chennai

Transfer of subscriber (490)shares

Negligible

Amount of

Inflow is

Involved

44

M/s. Aland Company Ltd

13 FL, Teaseok B/D

# 275-5, Yangjae-Dong

Seocho-Gu

Seoul, Korea

Hland (Engineering & Construction) Pvt Ltd

C/o. R. Bupathy & Co

"Rosy Tower" Ist Floor

7, Nungambakkam High Road

Nungambakka, Chennai-34

Designing, drawing & engineering work pertaining to Indl. Projects and construction work

Sriperumbadur,Tamil Nadu

Acquisition of 10,000 shares

0.01

45

M/s. China Construction (South Pacific)Dev. Co Pte Ltd

10, Hoe China Road

Keppal Towers

27-2, Singapore 089315

M/s. IRE Corporation Ltd

# 1, Sophia Road

0503, Peace Centre,

Singapore – 228 149

M/s. China Construction (South Pacific) Dev. Co. Pte Ltd

C/o. Great Resources Construction Development (India) Company Pvt Ltd

F-3, Ligoury Court

7, Palmgrove Road

Victoria Layout

Bangalore-47

Business of builders and contractors for construction and demolition work of any description

Bangalore, Karnataka

Transfer of 50,000 subscriber shares

0.05

46

M/s. Jumbo World Holdings Ltd

Al Salam Tower

Sheikh Zayed Road

PO Box 2548, Dubai, UAE

M/s. Gordon Woodroffe Limited

36, Rajaji Salai, Chennai

Property Development & Property Management Business

Chennai, Tamil Nadu

10.11% to 88.59%

7.8483

47

Vivendi water UK Plc

37-41, Old Queen Street,

London SW1H 9JA, United Kingdom

New JV, to be incorporated

Operation, maintenance and management of the water supply system and sewage system

Jamshedpur

49%

0.20

48

Principal Financial Group (Mauritius) Ltd

10, Frure Felix De Valois Street,

Port Louis, Mauritius

M/s. IDBI-Principal Asset Management Co. Ltd

Fund/asset management advisory services for pension funds and provident fund etc.

Mumbai

Increase in foreign equity from 50% to 100%

168.00

49

M/s. Principal Financial Group (Mauritius) Ltd

Les Jamalacs Vicux Conscil Street port

Port Louis,

Mauritius

M/s. Principal Financial Group (Mauritius) Ltd

Setting up of Trustee company

Mumbai

Increase in foreign equity from 50% to 100%

94.00

50

General Atlantic Partners Limited

83 Pall Mall London

SW1Y 5ES, UK

General Atlantic Partners Private Limited

The Taj Mahal Hotel

Room No. 222, Old Wing , Appollo Bunder

Coloba, Mumbai

Rendering advisory services for the purpose of collecting information

Mumbai

Increase in foreign equity from 99.5% to 100%

0.01

51

MS Angela Dutduan songphatanayothin

494, Pracharat 2 Rd

Rimklongprapa, Phankwa

Bungsue

DUSIT, Bangkok, Thailand

Mr. Arvind Kumar Bharnagar

18, Navniti Apartments

51, Patparganj

Delhi-92

Fund based NBFC activities

Not applicable

49%

2.45

52

M/s. Odyssia Investments Ltd

28-30, The Parade,

St. Helier, Jersey

Channel Islands JE48XY

Shades of India Crafts Pvt Ltd

F 301 Lado Sarai,

New Delhi

Export of handicraft products like bed and table linen, cushions curtains and accessories

New Delhi

Transfer of resident shares to non-resident and also issue of preference shares

2.77