5th November, 2003
Ministry of Finance  


15 FDI PROPOSALS CLEARED


The Union Finance Minister, Sh. Jaswant Singh has approved 15 proposals recommended by the Foreign Investment Promotion Board (FIPB) in its meeting held on October 23, 2003. The approvals amount to Rs. 82.425 crore. The major investment proposals pertain to the sectors of Agriculture, Information & Broadcasting and Information Technology.

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

Mr. Omar Ali Obeid Balsharaf,

Mr. Abdullah Ali Obeid Balsharaf,

Mr. Mohammed Ali Obeid Balsharaf,

Mr. Hussam Ali Obeid Balsharaf, and

Mr. Saud Al Subaie, All belong to Saudi Arabia

M/s. KRBL Limited

No. 5190, Lahori Gate

Delhi-6

Procurement of paddy, processing of the same with high machineries to convert into rice, mainly for exports to various parts of the world

Delhi

Fresh issue of shares to the foreign investor

27.00

2

Solvay Healthcare Ltd.

Mansbridge Road

West End, Southampton

SO18 3JD

UK

M/s. Solvay Pharma India Ltd

Suraj Prakash,

Ist Floor, 86 Shankar Ghanekar Marg

Prabhadevi, Mumbai

Manufacture and marketing of pharmaceuticals products

Mumbai

Acquisition of shares of an Indian company by the foreign investor from the existing non-resident shareholders

No fresh inflow

3

Mr. Faieq Ebrahim Alzayani

House No. 1033, Road No. 3344

SAAR 533

P.O. Box 120, Bahrain

M/s. Vorallem Exim (P) Ltd

S-26, Green Park Extn. New Delhi

Export of readymade garments & computer software, Hardware Technology & Consultancy and import of fabrics only

New Delhi

Induction of additional foreign equity for undertaking wholesale trading activities

0.02

4

M/s. Heihin Corporation

HK-Shinjuku Bldg.

4-3-17

Shinjuku – ku Tokyo

Japan

Keihin Fie Pvt. Ltd

B-8, MIDC, Chakan

Village-Mahalunge

Chakan-Telegaon Road

Tal. Khed,

Pune-410501

To undertake the manufacture of carburetors and other automatic components and parts

Pune, Maharashtra

Extension of validity of the FC approval

No inflow

5

M/s. Dentsu Inc.

1-8-1, Higashi-Shimbashi

Minato-ku

Tokyo, Japan

Mogae Consultants Pvt.

Ltd,

B-1803, Lady Ratan Towers,

Off. Dr. E. Moses Road

Worli, Mumbai

Business of advertising, brand building and communication, brand consultancy, public relations, event management, direct marketing, 1-on-1 communication, exhibition and displays.

Mumbai

To set up a new joint venture company

3.75

6

Mr. Cemal Erinmez

Im Buchenegg 8

8406, Winterthur.

Switzerland

Mr. Samalarupen V.s. Muthu

Dortfs Trasse 10

8132, Egg

Switzerland

M/s. Sincere Offset Pvt. Ltd.

No. 166, Indra Gardens, Peters Road

Royapettah, Chennai

Trading in printing machinery and printing jobs for overseas

Chennai

Transfer of shares from resident to non-resident

0.08

7

M/s. Rolls Royce Group

(M/s. Ulstein Holdings AS)

N-6065, Ulsteinvik,

Norway

M/s. Ulstein (India) Pvt. Ltd

74-B, Nariman Bhavan,

Nariman Point,

Mumbai-21

Maintenance & Servicing of Marine equipments.

Mumbai

Transfer of shares from resident to non-resident

0.52

8

M/s. Invensys International Holdings Ltd

Invensys House

Carlisle Place,

London, SWIP 1 BX

United Kingdom

M/s. Invensys Metering Systems India Limited

Gat No. 426/2, Chakan-

Talegaon Road,

Mahalunge Village

Taluka Khed

Pune – 410501

Manufacturing thermostat, defrost timer, capillary tubes, electronic control and other appliance control systems

Pune, Maharashtra

To set up a new company with 100% foreign equity participation

1.00

9

M/s. Hughes Network Systems Inc. USA

M/s. HNS Mauritius Holdings

Manor House, Ist Floor

Cnr St. George,

Chazal Street,

Port Louis, Mauritius

Hughes Software Systems Limited

2nd Floor, Nirlac Centre

B-25, Qutub Institutional Area

New Delhi

Manufacture of Floppy disc or cartridge tape drive containing software

Not indicated

To acquire upto additional 20% foreign equity of the Indian company

Amount not indicated

10

Bangalore Co.

950, Tower Lane,

Suite 500

Foster City, CA 94404

USA

Component Insights Inc

268 E.Hamilton Ave,

suite B, Campbell,

CA 95008

M/s. iManage Inc. USA

M/s. Component Insights India (P) Ltd

32/1&2, 4th and 5th Floors, Crescent Towers,

Crescent Road

Bangalore-560 001

Designing and developing systems and applications software either for its own use or for export, to set up and run electronic data processing centres and to carry on the business of data processing, world processing, world processing, software consultancy systems studies, management consultancy etc.

Bangalore

Transfer of shares from non-resident to non-resident

No fresh inflow

11

M/s. Venture Infotek Ltd, Mauritius

M/s. Venture Infotek Global Pvt. Ltd. (earlier known as M/s. Equifax Venture Infotex Pvt. Ltd)

Development of computer software (processing & special purpose vehicle)

Not indicated

To set up two new companies

50.00

12

Mr. Rohit Kapur, USA

M/s. Selan Exploration Technology Ltd

Ist Floor, 11 Hauz Khas Village, New Delhi

Oil Exploration projects, drilling of wells and crude petroleum

New Delhi

Extension of validity of the FC approval

No inflow

13

Smt. Junko Kazama,

6-17-11-102, Kitami

Setagayaku, Tokyo, Japan

M/s. TSUBOMI Lang & Soft

208, D-64, Ist Floor

Shakarpur

Delhi(East)

Delhi

Business of development of foreign language based software & translation of foreign language and providing training on that basis

Delhi

To set up partnership firm

0.05

14

M/s. Fijitsu Limited

6-1, Marunouchi 1-Chome, Chiyoda-ku,

Tokyo 100, Japan

M/s. Fijitsu Optel Ltd,

Mercantile House,

Ist Floor,

15, K.G. Marg,

New Delhi-1

Wholesale trading on cash and carry basis in respect of imported goods /accessories

Not indicated

To expand the scope of activities

No inflow

15

M/s. Mala Handicrafts Limited

Town Framhouse

Church Lane

Nether Poppleton, York

Y026 6LF, UK

M/s. Mala Handicrafts (India) Pvt. Ltd

A 16/9, Vasant Vihar,

New Delhi-57

Training students in improved carpet manufacture technologies including weaving, designing, designing finishing and processing of carpets, dhurries and other hand made floor covering and to promote and sell in India and outside the items produced in the process of imparting such training.

Varanasi (UP)

Transfer of shares from resident to non-resident

0.005

 
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