Government of India
Ministry of Commerce &Industry
Department of Industrial Policy and Promotion
(Foreign Collaboration Division)
***
Udyog Bhavan, New Delhi-110 011
Dated, the 22nd August , 2000.
PRESS RELEASE
On the recommendations of the Foreign Investment Promotion Board(FIPB), the Commerce & Industry Minister Shri Murasoli Maran has approved 28 Cases of Foreign Direct Investment of about Rs. 225.00 Crore. The proposals cover various sectors like automobiles, confectioneries , software development, ISP, e-commerce, infrastructure development, power, steel and automobiles, tourism, airline operations, cash and carry wholesale trading, financial advisory services and NBFC activities. A list of proposals cleared is enclosed.
( M.S. SRINIVASAN )
Joint Secretary to the Govt. of India
| S.No. |
Name of the applicant |
Activity |
Percentage of FDI/NRI equity |
FDI/NRI amount (Rs. In crore |
| 01. |
M/s. Edgemond India Pvt Ltd |
Bulk imports with expanded warehouse sales and Cash and Carry wholesale trading |
Amendment in the existing FC approval |
No fresh inflow involved |
02. |
Mr. Gian Luigi Brusetti, Italy |
Export of diverse range of Indian products like textile, handloom and furniture etc. |
100% |
2.25 |
| 03. |
M/s. Solomon Brothers Holding Company Inc. |
NBFC Activities |
Amendment in the existing FC approval |
No fresh inflow involved |
04. |
M/s. Nest Projects Pvt Ltd |
Mfr of metallurgical code for steel industry & foundries |
100% |
0.25 |
05. |
M/s. West Bridge Capital Advisors (I) P. Ltd |
Investment and financial advisory servi ds |
100% |
2.20 |
| 06. |
M/s. Concorde Motors Ltd. |
Establishing an automobile retail and after-sales company |
Expansion of activities |
No fresh inflow is involved |
07. |
M/s. Turin Auto Pvt Ltd |
Mfr. Of Automotive components |
Expansion of activities |
No fresh inflow involved |
| 08. |
M/s. Merisant Company, USA |
Mfr and distribute low calorie sweeterners, consumer food products and other merisant range of products |
100% |
15.20 |
| 09. |
M/s. Kaashyap Radiant Systems Ltd |
Software solutions, training and software development |
Equity induction of swap basis |
No fresh inflow involved |
10. |
M/s. OCS International Pvt Ltd |
Computer Software |
7.20% |
3.30 |
11. |
M/s. Systems America (I) Ltd |
Computer Software |
100% |
6.57 |
12. |
M/s. ESL Incorporated, USA |
IT solutions provider |
5% |
22.20 |
13. |
M/s. Ezeenet Infotech Pvt Ltd |
Development and export of software technology products and services |
33.32% |
0.13 |
14. |
M/s. Manmar Technologies Ltd |
Specialised software solutions |
20.9% |
10.87 |
15. |
M/s. IndiSHOP Pvt Ltd |
E-Commerce and other communication applications etc. |
15% |
4.40 |
16. |
M/s. J. Cast Networks (India) Pvt Ltd |
Software development |
75% |
0.34 |
17. |
M/s. Dole Qing Dao Co. Ltd |
End to end e-business solutions |
99.99% |
0.20 |
18. |
M/s. Convergent Software Ltd |
Software development and export |
16% |
8.64 |
19. |
M/s. Systech Solutions Pvt Ltd |
Computer software Development |
99.50 |
10.25 |
20. |
M/s. SunTech Business Solutions Pvt Ltd |
Computer Software Development |
Issue of fully convertible debentures |
26.40 |
21. |
M/s. Netfinity Systems (India) Pvt Ltd |
Computer Software Development |
Increase from 674% to 65.87% |
0.42 |
| 22. |
M/s. Foresight Ltd |
Construction of Oil tank storage facilities for Infrastructural Development at Gujarat |
Amendment in the existing approval |
No fresh inflow involved |
| 23. |
M/s. Konaseema EPS Oakwell Power Ltd |
To build, own and operate two barge mounted power plants |
Amendment in the existing FC approval |
No fresh inflow inovolved |
| 24. |
M/s. Steel and Logistics Centre Pvt Ltd |
Mfr, fabrication and processing of steel products and components for automobiles |
Amendment in the existing FC approval |
No fresh inflow involved |
| 25. |
M/s. Paradise Gardens Hotel & Restaurant |
Travel & Tourism |
40^% |
0.04 |
| 26. |
M/s. Price & Pierce India Pvt Ltd |
Bulk imports with expanded warehouse sales and Cash and Carry wholesale trading |
Expansion of activities |
No fresh inflow involoved |
27. |
M/s. Magotteaux Industries Pvt Ltd |
Casting of high chrome vertical mill spares and alloy steel liners for mining |
Increase from 75% to 100% |
0.30 |
| 28. |
M/s. Crown Express Pvt Ltd |
Scheduled airline operation |
100% |
111.38 |