Government of India
Ministry of Commerce & Industry
Department of Industrial Policy and Promotion
(Foreign Collaboration Division)
***
Udyog Bhavan, New Delhi-110 011
Dated, the 24th April, 2001.
PRESS RELEASE
On the recommendations of the Foreign Investment Promotion Board (FIPB), the Commerce & Industry Minister Shri Murasoli Maran has approved 47 proposals of Foreign Direct Investment amounting to around Rs. 508.00 Crore. The major investment proposals pertain to chemicals & pharmaceuticals, software development, mineral exploration, automobile and engineering industry, engineering consultancy, power projects equipment, and NBFC activities. A list of proposals cleared is enclosed.
(M. S. SRINIVASAN)
Joint Secretary to the Govt. of India
FIPB MEETING HELD ON 12.04.2001 AND 19.04.2001
| S.No. | Name of the Company | Activity | Percentage of FDI/NRI investment | Amount of FDI/NRI inflow (Rs. In crore) |
| 1 | M/s. De-Nocil Crop Protection Ltd | Manufacture of Chlorpyrifos | Increase in foreign equity from 51% to 75.7% | 31.22 |
| 2 | M/s. Cabot India Ltd | Manufacture of carbon black | Increase in foreign equity upto 100% in two trenches | 33.00 |
| 3 | M/s. Quintiles Transnational, USA | Business of clinical research | 100% | 1.41 |
| 4 | M/s. Demerara Distillers Ltd | import and whole sale of liquors like Rum, whisky, gin, liqueurs, vodka, fruit juices, wines and RTD (ready to drink cocktails in cans) etc. | 50% | 10.00 |
| 5 | M/s. Refco (India) Pvt. Ltd. | Providing risk management advisory services | Expansion of activities | No fresh inflow is involved |
| 6 | M/s. Stern Stewart India Pvt Ltd | Providing advisory services in the field of financial management, corporate finance | 100% | 10.40 |
| 7 | M/s. Reitzel India Ltd | Vegetables, fresh fruits, pickleed and brine form for all purposes | Restructuring of equity pattern | 1.91 |
| 8 | M/s. Mercedes Benz India Ltd | Manufacture of Mercedes Benz passenger car | Increase in foreign equity from 86% to 100% | 84.00 |
| 9 | M/s. Krupp Industries (I) Pvt Ltd | Cement making machinery, coal handling plants, sugar manufacturing machinery etc. | Amendment in the existing FC approval | No fresh inflow is involved |
| 10 | M/s. Compaq Computer (India) Pvt Ltd | Computer hardware and related products | Restructuring of foreign/NRI equity | No fresh inflow is involved | |
| 11 | M/s. Abhyudaya Developers Pvt Ltd | Development of high priority infrastructure mixed used technology resource park "West Lake" | Amendment in the existing FC approval | No fresh inflow is involved | |
| 12 | M/s. Encore Software Ltd | Software development | Increase in foreign equity from 10.35% to 28.10% | 1.47 | |
| 13 | M/s. Visionics (India) Pvt Ltd | Software development | Increase in foreign equity from 80% to 100% | 0.004 | |
| 14 | M/s. House of Code India Pvt Ltd | Computer Software | Increase in foreign equity from 50% to 90% | 0.09 | |
| 15 | M/s. Sai Televisions Ltd | Producing software for TV programme & communication services | 1.92% (Equity Swap) |
5.00 | |
| 16 | M/s. Flowmaster Group BV, Holland | Software development | 100% | 0.01 | |
| 17 | M/s. Jardine India Software Technologies Pvt Ltd | Software development and related services | 100% | 4.8 | |
| 18 | M/s. Objects World Wide Pvt Ltd | IT enabled services | 100% | 0.1 | |
| 19 | M/s. Anglovaal Mining Ltd, South Africa | Mineral exploration for precious metals, base metals and other minerals | 100% | 5.00 | |
| 20 | M/s. Muddy Waters Island Retreat Pvt Ltd | Setting up of tourism project (Holiday resort) | Increase in foreign equity from 51% to 99% | 0.54 | |
| 21 | M/s. Fascel Ltd | Cellular Mobile Telephone Services and ISP services | Amendment in the existing FC approval | No fresh inflow is involved | |
| 22 | M/s. Fascel Ltd | Cellular Mobile Telephone Services and ISP services | Expansion of activities | No fresh inflow is involved | |
| 23 | M/s. YKK India Pvt Ltd | Manufacture of metallic and non-metallic zip fasteners by using integrated plant | Amendment in the existing FC approval | No fresh inflow is involved | |
| 24 | M/s. Unidata Asia Pvt Ltd | Manufacture, design, market high technology microprocessor based and state of the art electronic, electrical and electro-mechanical instruments etc. | 100% | 4.6 | |
| 25 | M/s. Hoganas India Ltd | Manufacture and marketing of atomised iron powders | 49% | 27.00 | |
| 26 | M/s. Eltete Ltd, Finland | Manufacturing and transport packaging products | 100% | 9.2 | |
| 27 | M/s. Newell Rubbermaid, USA | Manufacturing of writing instruments | 98%(acquisition of 1474375 shares( at par) | 1.47 | |
| 28 | M/s. J.P. Morgan Horizon Asia Technology Advisors, LLC, Mauritius | Financial and management consultant | 100% | 2.35 | |
| 29 | M/s. Schenectady (India) Holding Ltd | Manufacture of Alkylphenols | Increase in foreign equity from 94.79% to 100% | 0.60 | |
| 30 | M/s. Husky Injection Molding Systems Pvt Ltd | Engineering services for plastic moulding industry | Transfer of 20 equity shares | Negligible amount of inflow (Rs. 200/- only) | |
| 31 | Dr. Rao Holdings Pte Ltd | Manufacture of Caustic Soda etc. | Increase in foreign equity from 5.32% to 68.92%
|
1.86 | |
| 32 | M/s. Akay Flavours & Aromatic Ltd | Manufacture of essential oils | Increase in foreign equity from 99.61% to 100% | 0.10 | |
| 33 | M/s. Hensel India Pvt Ltd | Manufacture and/or servicing of stone working machines | Increase in foreign equity from 45% to 60% | 0.075 | |
| 34 | M/s.Visteon Automotive Systems India Pvt. Ltd. | Production of various automotive Components |
Amendment in the existing FC approval | No fresh inflow is involved | |
| 35 | M/s. Transection Technologies Ltd. | Software Development | Amendment In the existing FC approval |
No fresh inflow is involved
|
|
| 36 | M/s. Viman Software Pvt. Ltd. | Development of Computer Software | Increase in foreign equity from 99.78% to 99.90% | 0.099 | |
| 37 | M/s.Analogic Technologies Pvt. Ltd. | Manufacture of PC lite etc. | Amendment in the existing approval | No fresh inflow is involved | |
| 38 | M/s. Deknot Software Systems Pvt. Ltd. | Software development | Increase in foreign equity from 58% to 66.40% | 0.01 | |
| 39 | M/s. VA Tech Hydro GmbH, Germany | Manufacturing and marketing equipment/systems and service related to generation, distribution and utilisation of power and energy | Increase in foreign equity from 50% to 100% | 6.25 | |
| 40 | M/s. Highland House Pvt. Ltd | Manufacture of Antiques, Brass Lamps etc. | Increase in foreign equity from 90% to 91% | 0.025 | |
| 41 | M/s. Adayar Gate Hotels | Restaurants and Hotels | Increase in foreign equity from 2.12% to 2.56% | 0.11 | |
| 42 | M/s. Maathey Enterprises (P) Ltd. | Setting up of a Hotel | Increase in foreign equity from 99.98% to 100% | 0.0002 | |
| 43 | M/s. Float Glass India Ltd | Manufacture of Float Glass | Amendment in the existing FC approval | No fresh inflow is involved | |
| 44 | M/s. Bureau veritas Indl.Services (India) Pvt. Ltd. | Inspection and certification of various engineering goods and other types of commodities and related services | Amendment In the existing FC approval |
No fresh inflow is involved | |
| 45 | M/s. Mott MacDonald International Ltd, UK | Offering multi disciplinary services in the areas of Engineering, infrastructure and management consultancy. | 100% | 29.05 | |
| 46 | M/s. Ayanam Metals Products Ltd. | Aluminium Sheets and products | 100% | 0.75 | |
| 47 | M/s. Banc of America Securities India Pvt. Ltd. | Financial investment, capital markets and merchant banking services (NBFC) | 100% | 235.00 | |