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Government of India

Ministry of Commerce & Industry

Department of Industrial Policy and Promotion

(Foreign Collaboration Division)

***

Udyog Bhavan, New Delhi-110 011

Dated, the 22^nd September , 2000.

PRESS RELEASE

On the recommendations of the Foreign Investment Promotion Board(FIPB), the Commerce & Industry Minister Shri Murasoli Maran has approved 25 Cases of Foreign Direct Investment of about Rs. 81.00 Crore. The proposals cover various sectors like chemicals, automobiles, recreational services, power, development of software and related products, oil exploration, cargo services, textiles and consultancy services for hospital industry. A list of proposals cleared is enclosed.

( M.S. SRINIVASAN )

Joint Secretary to the Government of India

FIPB MEETING HELD ON 11.09.2000

(No.30/2000)

S.
No.
Name of the applicant Activity Percentage of FDI/NRI equity FDI/NRI Amount
(Rs. in Crores)

01. M/s. Pfizer Corporation clinical research activities Amendment in the existing approval No fresh inflow involved

02. M/s. Household Remedies Ltd (HRL) Mfr. of various pesticides and production of vital ingredients for household insecticides Amendment in the existing approval No fresh inflow involved

03. M/s. Continental Carbon Company, USA Mfr. of carbon black 100% 8.60

04. M/s. Strategic Investments Ltd Contract manufacture of sterile liquids Increase from 12.56% to 14.80% 0.08

05. M/s.Plucdium (India) Pvt Ltd Import of rough diamonds for processing and export and to set p a diamond processing unit for export of processed diamonds Amendment in the existing approval No fresh inflow involved.

06. M/s.Arjun Technolgies India Ltd To undertake high technology oriented stainless steel fabrication and assembly of composite turnkey systems etc. Amendment in the existing FC approval No fresh inflow involved

07. M/s.Veejay Saviolakshmi Machinery Ltd Mfr. and sell textile machinery Amendment in the existing FC approval No fresh inflow involved

08. M/s.Araco Polyflex Pvt Ltd

Mfr, Design, assembly, sale, distribution, after-sales services of automobile vehicles Mfd. By Toyota Kirloskar Motor Pvt. Ltd. Increase in equity from 76% to 100% 15.37

09. M/s. B4U Multimedia International Ltd Generation and export of film software and television software Amendment in the existing approval No fresh inflow involved

10. M/s. R3 Ventures Pvt Ltd Other Recreational Services 50% 4.00

11. M/s. Toroid India Pvt Ltd Mfr. of Toroidal Power Transformers for Electronics 100% 1.65

12. M/s. Velocient Technologies Ltd Software Development and Data Processing Increase from 12.93% to 25.86% 2.00

13. M/s. Pine Labs Pvt Ltd Development of software and software related products 100% 0.01

14. M/s. Allegro Networks Pvt Ltd Computer Software Development 100% 1.00

15. M/s. Interra Inc. Computer Software Development 100% 4.00

16. M/s. Selan Exploration Technology Oil Exploration projects drilling of wells crude petroleum etc. Increase from 18.75% to 22.06% 0.28

17. M/s. Selan Exploration Technology Oil Exploration projects drilling of wells crude petroleum etc. Increase from 18.75% to 22.06% 0.30

18. M/s. H.I. Inspections India Pvt Ltd Providing cargo services Increase in foreign equity from 51% to 100% 0.34

19. M/s. Libra Advisors LLC Telemarketing, Direct mail information, management services, software development services etc. Amendment in the existing FC approval No fresh inflow involved

20. M/s. C.P. Shades Inc., California Mfr, sell, mkt, and export fabric, fashion accessories and like articles 100% 420.00

21 M/s.TBZ Holdings S.A. To market and sell T-Shirts and other knitwear Amendment in the existing FC approval No fresh inflow involved

22. M/s. SGS India Ltd To provide quality control inspection, testing, verification etc in respect of transportation and shipping commodities Amendment in the existing FC approval No fresh inflow involved.

23. M/s. Pesto Controls Ltd Mfr. of Industrial pneumatic products and systems Increase in foreign equity and decrease in paid up capital No fresh inflow involved

24. M/s. MGT Consultancy Pvt Ltd Valuation, appraisal and consultancy services for hospitality industry 50% 0.12

25. M/s. M.M. Wire Fastners Mfr. and export of hooks screws loops and insulators 100% 0.58

S. No.	Name of the applicant	Activity		Percentage of FDI/NRI equity			FDI/NRI Amount (Rs. in Crores)
01.	M/s. Pfizer Corporation	clinical research activities		Amendment in the existing approval			No fresh inflow involved
02.	M/s. Household Remedies Ltd (HRL)	Mfr. of various pesticides and production of vital ingredients for household insecticides		Amendment in the existing approval			No fresh inflow involved
03.	M/s. Continental Carbon Company, USA	Mfr. of carbon black		100%			8.60
04.	M/s. Strategic Investments Ltd	Contract manufacture of sterile liquids		Increase from 12.56% to 14.80%			0.08
05.	M/s.Plucdium (India) Pvt Ltd	Import of rough diamonds for processing and export and to set p a diamond processing unit for export of processed diamonds		Amendment in the existing approval	No fresh inflow involved.
06.	M/s.Arjun Technolgies India Ltd	To undertake high technology oriented stainless steel fabrication and assembly of composite turnkey systems etc.		Amendment in the existing FC approval	No fresh inflow involved
07.	M/s.Veejay Saviolakshmi Machinery Ltd	Mfr. and sell textile machinery		Amendment in the existing FC approval	No fresh inflow involved
08.	M/s.Araco Polyflex Pvt Ltd	Mfr, Design, assembly, sale, distribution, after-sales services of automobile vehicles Mfd. By Toyota Kirloskar Motor Pvt. Ltd.		Increase in equity from 76% to 100%	15.37
09.	M/s. B4U Multimedia International Ltd	Generation and export of film software and television software		Amendment in the existing approval	No fresh inflow involved
10.	M/s. R3 Ventures Pvt Ltd	Other Recreational Services		50%	4.00
11.	M/s. Toroid India Pvt Ltd	Mfr. of Toroidal Power Transformers for Electronics		100%	1.65
12.	M/s. Velocient Technologies Ltd	Software Development and Data Processing		Increase from 12.93% to 25.86%	2.00
13.	M/s. Pine Labs Pvt Ltd	Development of software and software related products		100%	0.01
14.	M/s. Allegro Networks Pvt Ltd	Computer Software Development		100%	1.00
15.	M/s. Interra Inc.	Computer Software Development		100%	4.00
16.	M/s. Selan Exploration Technology	Oil Exploration projects drilling of wells crude petroleum etc.		Increase from 18.75% to 22.06%	0.28
17.	M/s. Selan Exploration Technology	Oil Exploration projects drilling of wells crude petroleum etc.		Increase from 18.75% to 22.06%	0.30
18.	M/s. H.I. Inspections India Pvt Ltd	Providing cargo services		Increase in foreign equity from 51% to 100%	0.34
19.	M/s. Libra Advisors LLC	Telemarketing, Direct mail information, management services, software development services etc.		Amendment in the existing FC approval		No fresh inflow involved
20.	M/s. C.P. Shades Inc., California	Mfr, sell, mkt, and export fabric, fashion accessories and like articles		100%		420.00
21	M/s.TBZ Holdings S.A.	To market and sell T-Shirts and other knitwear		Amendment in the existing FC approval		No fresh inflow involved
22.	M/s. SGS India Ltd	To provide quality control inspection, testing, verification etc in respect of transportation and shipping commodities	Amendment in the existing FC approval		No fresh inflow involved.
23.	M/s. Pesto Controls Ltd	Mfr. of Industrial pneumatic products and systems	Increase in foreign equity and decrease in paid up capital		No fresh inflow involved
24.	M/s. MGT Consultancy Pvt Ltd	Valuation, appraisal and consultancy services for hospitality industry	50%		0.12
25.	M/s. M.M. Wire Fastners	Mfr. and export of hooks screws loops and insulators	100%		0.58