Government of India
Ministry of Commerce & Industry
Department of Industrial Policy & Promotion
(Foreign Collaboration Division)
***
Udyog Bhavan, New Delhi - 110011
Dated , the 27th March, 2002.
PRESS RELEASE
On the recommendation of the Foreign Investment Promotion Board (FIPB), the Commerce & Industry Minister Shri Murasoli Maran has approved 17 proposals of Foreign Direct Investment amounting to around Rs. 87.00 crore. The major investment proposals pertain to sectors such as information & boradcasting, information technology, cargo services and manufacture of consumer items. A list of proposals cleared is enclosed.
(Pramila Raghavendran)
Under Secretary to the Govt. of India
FIPB MEETING HELD ON 21.03.2002
| S.No | Name & Address of the 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 crores) |
| 1 | M/s. CHR Hansen, A/S Denmark and M/s. IFU, Denmark |
M/s. Akay Flavours & Aromatics
Ltd, K.V. 35, Panampilly Nagar Cochin |
Manufacture of essential oils, oeleresins and cucumin | Cochin | Amendment in the existing Approval | No fresh inflow is involved |
| 2 | Warner Lambert Co 201, Tabor Road Morris Plains New Jersey 07950 201 540-6187 USA |
Warner Lambert India Limited Paville House, 1216/4 A Off. Veer Savarkar Marg, Prabhadevi, Mumbai |
permission for test marketing | Not indicated | Amendment in the existing FC approval | No fresh inflow is involved |
| 3 | Pfizer Corporation, USA 235 East 42nd Street New York, NY 10017-5755 USA |
Pfizer Corporation C/o. Ambit Corporate Finance Pte. Ltd. 109-112, Dalamal Towers Nariman Point, Mumbai |
Manufacture of bulk drugs and formulations | Not indicated | Amendment in the existing FC approval | No fresh inflow is involved |
| 4 | Nandi Investments Ltd, Les Cascades House, Edith Cavell Street, Port Louis, Mauritius |
Melrose Trading Co. Ltd A/2, Jitendra Estate, Opp. Sangam Talkies, Andheri Kurla Road Andheri(E) Mumbai |
Pharmacy franchising, pharmacy management, pharmacy related services and internet pharmacy | Mumbai | clarification sought whether prior permission is required to commence franchise distribution activities | No fresh inflow is indicated |
| 5 | CDP Media Holdings(India) Ltd C/o. Abacus Financial Services (Mauritius) LTD TM Building, Pope Hennessy Street, Port Louis Mauritius |
UTV Software Communications Ltd Panjaal House, 1076 Dr. E. Moses Road, Worli Mumbai |
content production/television programming, animation, advertising films, film distribution and post production activities | Mumbai | 100% | 58.50 |
| 6 | Film Finances Inc. 9000 Simset Bouleyard Suite 1400 Losangels California |
Film Finances Inc C/o. Suri & Company Law Firm Flat # 12, Golf Apartments Sujan Singh Park Maharishi Raman Marg New Delhi |
providing Film completion services for films produced in India and elsewhere | Mumbai | 74% | 0.36 |
| 7 | Metro Optix Inc 5201, Great America Parkway Santa Clara, CA 95054 USA |
Net Brahma Technologies Private
Limited Microland House, No. 58, 80ft Road Koramangala 6, Bangalore |
Software Services as well as Software products and solutions | Bangalore | 80.44% | 2.35 |
| 8 | M/s. Policy Management Systems
Corp. USA and M/s. Policy Management Systems International Ltd, USA |
M/s. Computer Sciences Corporation
India Pvt Ltd Electronics Complex, Indore, Madhya Pradesh |
Computer Software Development | Indore, MP | Amendment in the existing approval | No fresh inflow is involved |
| 9 | Itvest Limited Suite G-12, St. James Court St. Denis Street, Port Louis, Mauritius |
M/s. Lateral Software Technology
Pvt Ltd 11/20, Appu Street, 2nd Lane Mylapore Chennai |
Software development and training | Chennai | Increase in foreign equity from 14.93% to 99.50% | 0.25 |
| 10 | Ess Technology Inc 48401 Fremont Blvd, Fremont CA 94538 |
M/s. Moschip Semiconductor Technology Ltd 8-2-684, Plot No 14 Road No. 12 Banjara Hills Hyderabad |
development and marketing of Application Specific integrated Circuits (ASICs) for the PC Peripheral, Data Communication and consumer Electronic Segements | Hyderabad | 72% | 10.53 |
| 11 | Unihorn bv, P.O. Box 58, 1633 ZH Avenhorn, Scharwoude 16, Scharwoude The Netherlands |
EMA Unihorn (India) Pvt. Ltd. 2/31, Kalkaji, New Delhi |
Consultation in the field of Infrastructure | New Delhi | 100% | 1.33 |
| 12 | M/s. Geologistics Pvt. Ltd Singapore M/s. Geologistics Asia Pacific Ltd, British Virgin Island |
Geologistics Ltd Navkar Cambers Wing ‘A’ 5th Floor, Andheri Kurla Road, Andheri East Mumbai |
International freight forwarding by air and sea to and from India | Not indicated | Conversion of loan into equity | 8.08 |
| 13 | P&O Nedlloyd Ltd Beagle House, Braham Street London, UK |
Europen Transport Services India Private Limited Kimatrai Building 77/79, Maharshi Karve Road Marine Lines, Mumbai |
Water Transport, Cargo handling incidental to water transport, renting of motor vehicles for freight transport, Data processing, software development and computer consultancy services | mumbai | Increase in foreign equity from 98% to 100% | 0.01 |
| 14 | M/s. Blokhra Internet Services Inc Wayne, NJ, USA |
Premier Internet Services Pvt Ltd SCO 59-60, F.F. Sector 9-D Madhya Marg, Chandigarh |
ISP | Chandigarh | Increase in foreign equity from 49% to 74% | 0.025 |
| 15 | Mr. Elango Veera Balakrishnan, 3127, Corrigan Drive Missisauga ONT LAY 3C5, Canada Mr. V. Srinivasan, 193, Rock Ridge Road Milersville, MD 21108 USA |
M/s. Excel Optics (Pvt.) Ltd No. 56, 3rd East Cross Street, Amarvathi Nagar, Chennai |
Intraocular lenses | Chennai | 40% | 0.40 |
| 16 | Sh Khalid Ahmed & Sh. Balbir
Singh Liddar C/o. Honeycrown Ltd Miner’s Road, Industrial Estate, Wrexham, LL20PJ United Kingdom, Britain |
Honeycrown Rubbertech India Pvt
Ltd A-154, Defence Colony Mawana Road Meerut |
manufacture of rubber seals, washers, rings of various sizes & shapes | Meerut | 100% | 0.25 |
| 17 | Mr. Rakesh Malhotra, UK and Mr. Rajiv Malhotra, UK | M/s. Vidyut Metallic Pvt Ltd Malhotra House, 4th Floor, Opp. GPO, Fort, Mumbai |
Manufacture of safety razor blades | Mumbai | 100% ( conversion of preference shares from non-repatriable basis to repatriable) |
4.93 |