Government of India
Ministry of Commerce and Industry
Department of Industrial Policy and Promotion
( Foreign Collaboration Division )
.........
Udyog Bhavan, New Delhi
dated, the 15th March, 2000.
PRESS RELEASE
On the recommendations of the Foreign Investment Promotion Board (FIPB), the Commerce & Industry Minister Shri Murasoli Maran has approved 46 cases of Foreign Direct Investment of about Rs.802.90 crores. The proposals cover various sectors like NBFC activities, manufacture of chemicals, processed food products, power cables, auto components, engineering goods, jewellery, export trading in cosmetics, food products, readymade garments, etc., health care, Internet services, data communication, e-commerce, data processing, software development, LPG infrastructure projects, textiles, health care, and hotel. A list of proposals cleared is enclosed.
( A.C. Duggal )
Director
| S.No. |
Name of the Applicant |
Activity |
Percentage of FDI/NRI equity |
FDI/NRI Amount (Rs. Crores) |
| 1 | M/s.Schenectady India Ltd | Wire enamels and insulation varnishes, phenolic resins | Increase from
85% to 97.59%
(conversion of CRPS to equity) |
---- |
| 2 | M/s. Strollberg India (P) Ltd | Mfr. of indl. organic and inorganic chemicals, etc. | Adjustment of equity against CG |
----- |
| 3 | Shri Paresh Kapoor | Processed food products, handicrafts | 100 | 0.50 |
| 4 | M/s. JVK Impex Pvt Ltd | Trading, Exports of Cosmetics, food products, groceries, ready made garments, leather products and all other commodities from India to UK, US and other foreign countries | 100% | 0.25 |
| 5 | M/s.Citicorp Finance (India) Pvt Ltd (CFIL) | Providing comprehensive range of financial services | Acquisition of 74% equity in a downstream venture | 14.00
(includ-
ing premium) |
| 6 | M/s. ABB Holdings (South Asia) Ltd | To act as a holding company for ABB Asea Brown Boveri Switzerland's investment in India |
------ |
------ |
| 7 | M/s.TAIB Capital Corporation Ltd | Underwriting, distribution and research functions in the capital markets area | Increase from 51% to 74% | 16.35 |
| 8 | M/s. India Asset Management Co. Ltd | NBFC activities |
------ |
----- |
| 9 | M/s.Carlsberg A/s, Denmark | Mfr., distribution and selling of beer |
------ |
----- |
| 10 | M/s. Nestle India Ltd | Mfr. a wide range of processed foods | Increase from 51% to 56% | Minimum of 19.28 |
| 11 | M/s. Heraeus Kutler International GmbH&Co., Germany | Mfr. and distribution of dental products, including alloys, denture base, etc. |
------ |
------ |
| 12 | Dr. Ramaiyya's Pramila Hospitals Ltd | Health care |
----- |
--- |
| 13 | M/s. Ucal Fuel System Pvt Ltd | Mfr. of carburettors and fuel pumps | Increase from 23.32% to 26% | 0.45 |
| 14 | M/s. Seat Metal Components of India Pvt Ltd | Mfr. of car seats and metallic components |
----- |
----- |
| 15 | M/s. Jaycee Coach Builders Ltd | Mfr of rubber & Air suspension for HCVs & LCNs | 50% | 0.25 |
| 16 | M/s. Inspectorate Griffith (India) Pvt Ltd | Providing modern analytical and inspection services of commodities exported out of, and imported into the country | Increase from 49% to 60% | 0.248 |
| 17 | M/s. Candor Infotech Pvt Ltd | Activities in ISP |
------ |
----- |
| 18 | M/s. MTL Instruments Pvt Ltd | Mfr. and distribution of safety instruments including interface devices and electronic instrumentation projects | Increase from 74% to 100% | 4.00 |
| 19 | M/s. SSI Ltd | Software products and e-commerce | GDS Issue | 435.00 |
| 20 | M/s. Genesis International Corporation Ltd | Computer software development |
------ |
2.25 |
| 21 | M/s. International Netcom Holdings Ltd, Mauritius | Providing all electronics and Internet based systems, services, solutions etc. | 100% | 0.05 |
| 22 | M/s. Chaitime Inc., USA | Creating and designing a website for the Indian ethnic population worldwide etc. | 100% | 22.00 |
| 23 | M/s. BS & B Safety Systems Ltd, Ireland | Development of software for in-house use | 100% | between 0.43 to 0.92 |
| 24 | M/s. San Vision (Cyprus) Ltd | To est abolish and run data processing/ computer centres and to offer consultancy and data processing etc. | 100% | 0.1 |
| 25 | M/s. EC Business Consulting (India) Pvt Ltd | Development of software and software products and to act as adviser for information systems, etc. | 100% | 1.00 |
| 26 | M/s. Asia Online Ltd, Hong Kong | To develop, promote, engage in ,pursue, undertake and carry on business of providing various services relating to IT. | 1005 | 21.5 |
| 27 | M/s. Indus Networks Ltd | Computer software development | 16.92 | 1.1 |
| 28 | M/s. Chakkilam Infotech Ltd | Computer Software development | 71.435 | 0.75 |
| 29 | M/s. Sunquest Information Systems Inc. | Computer software development | 100% | 2.84 |
| 30 | M/s. Kumaran Systems Pvt Ltd | Computer software development | 99% | 0.49 |
| 31 | M/s. Technicall Com. Inc | Information Technology & back room services | 100% | 1.00 |
| 32 | M/s. Bharat Planet. Com. Ltd (SIA No.14/NFC/2000) | Development of computer software & e-commerce activities | 2.05% | 0.0082 |
| 33 | M/s. Seven Hills Business Solutions Ltd (SIA No.16/NFC/2000) | Software development | 16.5% - NRI
5.5% - F.E. |
0.75
0.25 |
| 34 | M/s. IBP Caltex Ltd | Setting up of various infrastructure projects for imports, storage and distribution of LPG throughout India etc. | Increase in paid up capital by way of fresh issue of shares | 180.00 |
| 35 | M/s. Thermax Energy Performance Services Ltd | Setting up Energy project and providing energy services | decrease from 50% to 49% |
----- |
| 36 | M/s. Sembawang Shriram Integrated Logistics (P) Ltd | Multi modal logistics devices | Increase from 97% to 100% | 7.59 |
| 37 | M/s. Andrew Corporation, USA | Mfr. and mktg. of cable, cable connectors, elliptical WGUIDE, WG transition and BS Antennas etc. |
-- |
------- |
| 38 | M/s. H2mG Inc., USA | Providing IT enabled Internet and e-commerce relate back-end services and content provider | 100% | 0.5 |
| 39 | M/s. International Netcom Holdings Ltd, Mauritius | Provision of virtual point of sales systems, solutions and services to merchants and consumers for enabling electronics and Internet based transactions etc. | 100% | 0.05 |
| 40 | Shri Subramanian Odayappan Kannan | Outwear hosiery Underwear hosiery | 74% | 2.96 |
| 41 | M/s. Quality Inns India Pvt. Ltd. | Hotel Industry | Increase from 30% ro 40% | 0.042 |
| 42 | M/s. Universal ABB Power Cables Ltd. | Insulated power cables with cable accessories | Issue of 13% CRPS | 30.00 |
| 43 | M/s. ASP Sealing Products Ltd. | Mfr. of EPDM rubber profiles/rubber to metal bonded profiles used as components in the automobiles industry | 20% | 1.89(Including premium) |
| 44 | M/s. Dana Corporation, USA | Design, mfr. assemble, contract for buy, sell, hire, export, import, distribute and deal in and with off-highway components | 100% | 30.00 |
| 45 | M/s. Magick woods Pvt. Ltd. | Mfr. of storage shelves & Racks, wooden kitchen racks, cabinets, furniture and fixtures etc. | 33.33% | 0.166 |
| 46 | M/s. RLC Engineers Pvt. Ltd. | Power cable, telecommunication accessories | 100% | 4.35 |