Government of India
Ministry of Commerce and Industry
Department of Industrial Policy and Promotion
( Foreign Collaboration Division )
.........
Udyog Bhavan, New Delhi
dated, the 10th April, 2000.
PRESS RELEASE
On the recommendations of the Foreign Investment Promotion Board (FIPB), the Commerce & Industry Minister Shri Murasoli Maran has approved 56 cases of Foreign Direct Investment of about Rs.508.45 crores. The proposals cover various sectors like floriculture & export of cut flowers, agro chemicals, engineering services, NBFC activities, auto ancillary, computer software and software development, V-Sat network, manufacture of machines, mechanical appliances, modular office furniture, and plastic & metal components. A list of proposals cleared is enclosed.
( Ashok Kumar )
Joint Secretary
| S.No. |
Name of the Applicant |
Activity |
Percentage of FDI/NRI equity |
FDI/NRI
Amount (Rs. Crores) |
| 1 | M/s. Tanflora Infrastructure Park Ltd. | Export fresh cut flowers and development of floriculture infrastructure | Restructuring of equity
|
------ |
| 2 | M/s. Shekhawati Plantations Pvt Ltd. | Mfr. Jujoba Oil with captive plantation in the waste land areas | 60% | 3.60 |
| 3 | Mr. Quentin Peter Arnoldi, England | Production of Milk and production of stock cattle for sale in India | 100% | 0.14 |
| 4 | M/s.Exxon Co. India Pvt Ltd. | WOS for mfr. and mktg. of chemicals and polymers | Amendment in FC approval |
---- |
| 5 | M/s. Monsanto Chemicals of India Ltd. | Mfg. distribution of agrochemicals, seeds and crop protection products | Increase from 39.97% to 72.17% through equity swap | 342.99
|
| 6 | M/s. Gupta Gemhouse Pvt Ltd. | Cutting & polishing of gem stones and trading activity for gemstone exports | 100% | 7.5 |
| 7 | Mr. Rolf J. Koller, Switzerland | Engineering services and export thereof in the field of Animal and Aqua feed mfg. facilities | 100% | 0.05 |
| 8 | M/s. Harlow Butler | Foreign exchange broking | Increase from 51% to 75% | 0.35 |
| 9 | M/s. HSBC Securities India Holdings Pvt. Ltd. | NBFC Activities
(Making down-stream investment) |
Amendment in FC
approval
|
---
|
| 10 | M/s. JP Morgan Securities India Pvt. Ltd. | NBFC activities | Amendment in FC approval |
--- |
| 11 | M/s. Citibank Overseas Investment Corporation | Providing comprehensive range of |
Amendment in FC |
----- |
| 12 | M/s. Capital Group International Inc., USA | NBFC activities | 75% equity and 100% preference shares | 21.50 |
| 13 | M/s. Associated First Capital Corporation | Holding company to invest in step down subsidiaries/JVs | Amendment in FC approval |
------ |
| 14 | M/s.Zurich Asset Management Co. India Pvt Ltd | Asset management company | Restructuring of equity on transfer of equity from one Foreign Collaborator to another |
----- |
| 15 | M/s. H.L. Slimming Point Pvt Ltd | Providing multipurpose gymnasium for body building, etc. | 88% | 0.528 |
| 16 | M/s.Rico Daewoo Precision Industries Ltd | Mfr. of automotive components, spares and ancillaries, car audio system and instrument panel clock | Request for change in
foreign collaborator
|
------ |
| 17 | M/s.Denso Haryana Pvt Ltd | Mfr, assemble, sell and distribute the engine management systems or fuel injection systems | Permission for additional Tech. Payments |
------- |
| 18 | M/s. Interpark ICS India Pvt Ltd | Design, Development, operation and maintenance of car parks | 50% | 2.50 |
| 19 | M/s. Gardner Management Services Ltd, Italy | Resorts management services company | 100% | 2.72 |
| 20 | M/s.Powertel Bock Pvt Ltd | Development of Multi-media, data communication and peripheral segments of the computer industry, telecommunication products and software business | Increase from 61% to 100% | 1.68 |
| 21 | M/s.HCL Perot Systems (Mauritius) Pvt Ltd | Operate Software Industry | Acquisition of shares | 19.00 |
| 22 | M/s.EFTIA Oss Solutions (Asia Pacific) Ltd | Software development, customisation, marketing and sales of products and services for software and customer services etc. | Req. for Tech. Payment |
------ |
| 23 | M/s. Kernex Microsystems (India) Pvt. Ltd. | Software Development | 32.22% to 58.79% | 2.00 |
| 24 | M/s. In Net IT & Telecom India Pvt Ltd | Activities relating to Information Technology and telecom services | 99% | 9.90 |
| 25 | M/s. Infonox on the Web, USA | Export, research and development operations & software development | 100% | 4.30 |
| 26 | M/s. Computer Associates International Inc., USA | Computer software development & data processing, etc. | 50% | 3.25 |
| 27 | M/s. Survik Software Ltd | Providing software solutions services and software consultancy | 48% | 4.86 |
| 28 | M/s. Kshema Technologies Ltd | Software development | NRI Equity -
2.67% |
5.16 |
| 29 | M/s. Computer Associates International Inc., USA | Computer software designing, development | 51% | 2.55 |
| 30 | M/s. Sherston Educational Software Pvt Ltd | Development and export of computer educational software | 100% | 0.10 |
| 31 | M/s. Cyberbills India Pvt. Ltd. | Software Development | 100% | 0.25 |
| 32 | M/s. V. Engines India Pvt. Ltd. | Software Development | 100% | 1.75 |
| 33 | M/s. Cyber Analysts Pvt. Ltd. | Software Development | 76.20% | 0.56 |
| 34 | M/s. eSoft Consulting Ltd. | Software Development | 50% | 5.60 |
| 35 | M/s. Swami Cyber Solutions Private Limited | Software Development | 100% | 1.00 |
| 36 | M/s. Omniscribe Solutions Limited | Software Development | 32% | 4.00 |
| 37 | M/s.Tanir Bavi Power Co | Setting up of barge and mounded power plant | Request for extension of validity of FC approval |
----- |
| 38 | M/s. Tractebel Engineers & Constructions Pvt Ltd | Providing comprehensive services in the power, oil, gas and infrastructure sectors | 100% | 1.00 |
| 39 | M/s. Travancore Cocotuft Pvt. Ltd. | PVC Tufted coir matings | 50% | 1.86 |
| 40 | Note reg. M/s.Telstra Vishesh Communications Ltd | Setting up a VSAT Network via satellite for value added services | Increase from 40% to 49% | 4.80 |
| 41 | M/s. DSQWorld.com Ltd | ISP and Portals | 40% | 10.00 |
| 42 | M/s. Mail.com Inc., USA | To act as a holding company for further downstream investments and also to provide services in relation to software development | 100% | 4.30 |
| 43 | M/s.Indian Trimmings Ltd | Mfr. of Curtain Tie-Backs, Tassels and Trimmings | Transfer of shares of foreign collaborator to their parent holding company |
---- |
| 44 | M/s.Birdy Trading SARL, France | Mfr, trading, servicing and inspection of high quality goods in garments industry | Increase from 51% to 80% | 0.30 |
| 45 | M/s. Galabon Hotels Pvt Ltd | Establishing Guest-Inn | 99.99% | 5.50 |
| 46 | M/s. Advani Pleasure Cruise Company P. Ltd | To undertake the business of Pleasure Cruise ship entertainment | 49% equity
50% Preference capital |
5.39 |
| 47 | M/s.Majestic Furnishing Co. Pvt Ltd | Mfr. of Articles made of wood including joinery and case goods and interior design materials including cabinetry | Increase from 50% to 100% | 15.25 |
| 48 | M/s.Bellis Hardware Pvt Ltd | Mfr. of Pressure Die casted hardware items other hardware items | Expansion of activities |
------ |
| 49 | M/s.G.W. Precision Tools India Pvt Ltd | Mfr of complete range of carbide cutting tools | Amendment in activity clause |
----- |
| 50 | M/s.dLine International AS | Mfr. Design, quality management and servicing of products in the field of high quality builders, stainless steel accessories, hardware and components thereof | Permission for test marketing |
------ |
| 51 | M/s.Agfa Gevaert NV, Belgium | Mfr. Mktg of imaging technology products | Restructuring of equity clause |
------- |
| 52 | M/s. ErgoComp Plastic India Pvt. Ltd. | Mfr. of Plastic & metal components | Increase from 50% to 95% | 22.50 |
| 53 | M/s. Fike Corporation, USA | Designers, manufacturers, assemblers | 100% | 6.88 |
| 54 | M/s. Hiross Batliboi India Pvt Ltd | Mfg. Machines and mechanical appliances | Increase from 51% to 100% | 0.73 |
| 55 | M/s. S.I. Stud (India) Pvt Ltd | Mfr. and sale of stud bolts, nuts and threaded rods | Increase 51% to 100% | 0.10 |
| 56 | M/s. Coinma, S. Cooperativa, Spain | Assembling and trading of modular office furniture | 50% | 1.00 |