2nd May, 2003
Ministry of Finance & Company Affairs  


29 FIPB PROPOSALS CLEARED


The Union Minister of Finance and Company Affairs, Shri Jaswant Singh has approved 29 proposals recommended by the Foreign Investment Promotion Board (FIPB) in its meetings held on April 17, 2003. The approvals amount to Rs.83 crores. The major investment proposals pertain to sectors of manufacture of textile machinery and spinning frame, manufacture of transmission parts for automobiles, manufacture of electroplating and heat proof painting of muffler completes, exhaust pipe completes, steering handle and other parts for wheelers and automobiles.

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

Particulars of the proposal

Amount of FDI/NRI/OCB Investment

(Rs. In crore)

1

M/s. TFL Ledertechnik International GmbH, Germany

M/s. TFL Ledertechnik GmbH, Germany

M/s. TFL Leather Technique Private Ltd

TS – 134, Thiru Vi ka. Industrial Estate

Ekkaduthangal, Chennai-97

Manufacture, sale and distribution of leather finishing and tanning chemicals

Chennai

Transfer of shares from resident to non-resident

0.50

2

M/s. UCB S.A

326, Avenue Louise

B-1050, Brussels,

Belgium

M/s. UCB India Pvt Ltd

VIP House

88-C, Old Prabhadevi Road

Mumbai-25

For undertaking additional activities- manufacturing of speciality chemicals

Vapi, Gujarat

Amendment in the existing FC approval

No fresh

Inflow is

Involved

3

Kryton Holdings Inc

8280 Ross Street,

Vancouver, British columbio

Canada VSX 4C6

M/s. Prakausali Investment (India) Private Limited

A-1/308, Safdarjung Enclave, New Delhi-29

Manufacture additives for cement motor, concrete, damp proof compound and other

Haryana

100% acquisition of an Indian company by a foreign company

0.275

4

M/s. TEVA Pharmaceuticals Finance

Industrieweg 23

3640 AE, Mijrecht,

The Netherlands

JK Drugs and Pharmaceuticals Limited

7, Council House Street

Calcutta – 1

Manufacturing, processing, formulating, buying, selling, importing, exporting and generally dealing in all types of drugs and pharmaceuticals

Calcutta, West Bengal

100% acquisition of an Indian company by a foreign company

0.50

5

M/s. Sammler Kabinett Inc

2000 Duke Street

Alexandria, Virginia

USA 22314

M/s. Time Life India Private Limited

B-26, Qutab Institutional Area, New Delhi-16

Wholesale trading (ex-bonded warehouse sales) of home education and home entertainment(music and video) products

Delhi

Transfer of shares from resident to non-resident

0.01

6

MFD Data BHD

Lot 2, PJ Industrial Park

Petaling Jaya

Malaysia

MFB Trade India Pvt Ltd

12, P Kuppuswamy Complex

34, Raja Bather Street

T. Nagar, Chennai

Export of ready-made garments to South East Asian Countries

Chennai

Transfer of shares from resident to non-resident and fresh issue of shares to non-resident

0.10

7

M/s. Hospital Corporation of Orissa Inc. USA

M/s. Kalinga Hospital Ltd

Chandrasekharpur

Bhubaneshwar

Setting up a Hospital in the State of Orissa

Bhubaneshwar, Orissa

Extension of validity of FC approval

No fresh

Inflow is

Involved

8

M/s. Toyoda Automatic Loom works Ltd

(Toyota Industries Corporation)

2-1, Toyoda Cho-kariya-shi

aichi-ken,

448-8671, Japan

M/s. Kirloskar Toyoda Textile Machinery Ltd

Plot No. 10-13,

Jigani Industrial Area II

Phase,

Jigani – 562 106

Anekal Taluk

Bangalore, Karnataka

Manufacture of textile machinery and spinning ring frame, manufacture of transmission parts for automobiles

Bangalore

Increase in foreign equity from 94.40% to 95.11% by way of fresh issue of equity shares( increase in paid up capital)

31.00

9

M/s. Toyoda Iron Works Co. Ltd

4-50 Hosoyo-cho, Toyota,

Aichi-471-8507, Japan

M/s. Stanzen toyotetsu India Private Limited

Plot No. 20, Bldg. No.12

Bidadi Industrial area, Ramanagaram Taluk, Bangalore

Identifying local vendors for manufacture and supply pressed and welded auto parts & components, dies, jigs, moulds and fixtures

Bangalore

Expansion of activities

No fresh

Inflow is

Involved

10

M/s. Sankei Giken Kogyo Co. Ltd

2-5-1 Akabane Minami Kita-ku

Tokyo, Japan

M/s. Newman Technologies Inc.

Newman, 100 Carns Rd

Mansfield Ohio

USA

Mark exhaust Systems Limited

E-56, Greater Kailash Part –I

New Delhi-48

Electroplating and heat proof painting of muffler completes, exhaust pipe completes, steering handle and other parts for wheelers and automobiles etc.

Gurgaon, Haryana

100%

40.00

11

M/s. IvarsSpa, Italy

M/s. Ergocomp plastic (India) Pvt Ltd

Plot No. A-408. T.T.C. Industrial Area, M.I.D.C. Mahape,

Navi Mumbia

Manufacture of plastic and metal components

Daman & Diu

Extn. of validity of FC approval

No fresh

Inflow is

Involved

12

M/s. Koninklijke Philips Electronics NV

P.O Box 218

5600 HO

Ecnohoven

The Netherlands

M/s. Philips Glass India Limited

Padra –Jambusar Road

Baroda Distt. Gujrat

-391 430

Manufacture of soda glass shells, soda glass tubings and lead glass tubings and lead glass tubings

Calcutta

Early redemption of preference share

No fresh

Inflow is

Involved

13

M/s. BP Global Investments Limited

Breakspear Park

Breakspear Way

Hemel Hempstead

Hertfordshire, HP 2

4UL, England

BP India Limited

Technopolis Knowledge Park

P.O. Box No. 19411

Mahakali Caves Road

Chakala, Andheri(E)

Mumbai-93

Providing business advisory and support services, business development and investigation support etc.

Mumbai

Fresh issue of shares to the extent of 100%

1.75

14

Mr. Mohinder K. Malhotra, Kuwait

M/s. Hayat Communications Pvt Ltd(M/s. Cain Technologies Ind. P. Ltd)

B-292, Super Mart –I

DLF City, Phase IV, Gurgaon

Infrastructure support and services to telecom companies in execution of their projects

Gurgaon, Haryana

Transfer of shares from resident to NRI

0.168

15

M/s. IBM World Trade Corporation, USA

M/s. IBM Global Services India Pvt Ltd

Level 3, Subramanya Arcade

12, Bannergatta Road

Bangalore-29

Manufacturing, marketing and export of computer systems including import and output devices, network products softwares and maintenance services

Bangalore

Undertaking additional activity and changes in royalty terms

No fresh

Inflow is

Involved

16

M/s. Diabold Incorporated

5995, Mayfire Road

North Canton, Ohio 44720, USA

M/s. Diabold HMA Private Limited

IInd Floor, 28/3, Montieth Road

Egmore, Chennai – 8

Manufacture, develop and , supply in India ATMs, and Networked cash dispensers(each including both hardware and software components) etc.

New Delhi

Transfer of shares from resident to non-resident

0.05

(at par)

17

M/s. Prudential UK Services Limited

Company Number 176097

Craigforth, PO Box 25

Stirling, FK 9 4UE

Scotland

Prudential Process Management Services India Private Limited

93-B, Mittal Court

Nariman Point,

Mumbai – 21

Providing Call Center and Back Office processing services

Mumbai

Transfer of shares from resident to non-resident

0.01

18

M/s. Proxim International Holdings, Inc. &

M/s. Proxim Corporation

935, Stewart Drive,

Sunnyvale, CA 94085, USA

M/s. Proxim wireless Communications Pvt Ltd

"Pinnacle"

#302, 3rd Floor

# 15, Commissariat Road

Bangalore-25

Develop, maintain, manage and operate a software development centre to undertake activities as a software design and development center

Bangalore

Transfer of shares from resident to non-resident

0.01

19

M/s. BSI Holding Pty Ltd, Australia

M/s. Bentley Systems Pty Ltd, Australia

M/s. Bentley Systems India Private Limited

1105 & 1106, Ashoka Estate,

24, Barakhamba Road

New Delhi

Development of computer software and design of IT based solutions for infrastructure development and related sectors etc.

New Delhi

100%

2.50

20

M/s. Jackson Mairne LLC

601-PolydrasSt

Suite 1900,

New Orleans

LA 70130, USA

Marine Offshore Services Private Ltd

D-11, Greater Kailash Enclave I

New Delhi – 48

Hire and own steamships and other ocean going or offshore vessels and to establish and maintain lines or regular services of steamships and other ocean going or offshore vessels for the carriage of mails, passengers, goods and cargo of any kind

New Delhi100%

Acquisition by way of transfer of shares from resident to non-resident

2.51

21

M/s. Toyota Tsusho Corporation, Japan

M/s. Steel and Logistics Centre Pvt Ltd

Toyota Techno Park

Plot No. 20,

Vuilding No. 4

Bidadi Industrial Area

Ramanagara Taluk, Bangalore

Bulk imports with ex-port and ex-bonded warehouse sales, Cash & CarryWholesale trading

Bangalore

Amendment in the existing FC approval-activity clause

No fresh

Inflow is

Involved

22

M/s. Avaya International LLC, USA

M/s. Tata Telecom Limited

Matulya Centre

‘A’ Block

249 Senapati Bapat Marg, Lower Patel,

Mumbai-13

Import and distribution of Telecom equipment and solutions and provision of specialized after sales services

New Delhi

Expansion of activities

No fresh

Inflow is

Involved

23

M/s. Nortel Networks Mauritius Ltd, Mauritius

M/s. Nortel Networks India Pvt Ltd

Permission for trading

Not indicated

Expansion of activities

No fresh

Inflow is

Involved

24

M/s. International Telephone & Satellite Holdings Ltd, Greenwich

M/s. International Telephone and Satellite Corp. India Pvt Ltd

3A, Tata Apartments

23, Prithviraj Road

New Delhi-11

Internet provider, Software development, web pages and B2B projects

New Delhi

Extension of validity of FC approval

No fresh

Inflow is

Involved

25

Bhagwan I Mahtani

Mr. Ratan Mahtani

48 Kofo Abayomi

Street, Victoria Island

PO Box No. 7793,

Lagos, Nigeria

Bhagwan I Mahtani

48 Kofo Abayomi

Street, Victoria Island

PO Box No. 7793,

Lagos, Nigeria

Real estate development, redevelopment of existing/Heritage properties, occupation/renting of properties etc.

Mumbai, Maharashtra

To set up a company in the real estate development

0.35

26

M/s. Premier Resort Development, Mauritius

M/s. Oikos Apartments Pvt Ltd

No. 543, The Embassy, Ali Akbar Road

Bangalore

Residential Apartment, township and infrastructure development

Bangalore, Karnataka

Transfer of shares from resident to non-resident

1.59

(including

premium)

27

M/s. Kuoni Travel Holding Ltd, Switzerland

M/s. Travelex Plc, UK

M/s. Travelex India Pvt Ltd.

M/s. Kuoni Travel (India) Pvt Ltd

M/s. Travel India Pvt. Ltd.

Engage in the business of package tours, forex broking and money changing business

Not indicated

Fresh issue of shares and expansion of activities

Not

Indicated

28

CPG Consultants Pte Ltd

238B, Thomson Road

# 18-00 Tower B,

Novena Square

Singapore 30768

PWDC Consultants India Pvt Ltd

1010, Ansal Bhawan

16, K.G. Marg, New Delhi

Business of consulting architects, consulting engineers, project managers, quality surveying and other survey feasibility studies

Not indicated

Transfer of shares from resident to non-resident

0.01

29

M/s. Standard Life Investments Ltd,

1, George Street,

Edinburgh

EH2 2LL

Scotland, UK

M/s. HDFC Asset Management Company Limited

Ramon House, 3rd Floor

H.T. Parekh Marg,

169, Backbay reclamation

Church gate, Mumbai

Undertake portfolio to management services, management and advisory activities to domestic and off shore funds, pension funds, provident funds, venture capital funds, management f insurance funds, financial consultancy etc

Mumbai

Acquisition of shares by non-resident

2.00

(at par)