Register to Subscribe



Home arrow News arrow Business News arrow Government approves 16 FDI Proposals Worth Rs. 923.55 Crore
Government approves 16 FDI Proposals Worth Rs. 923.55 Crore Print E-mail
Written by Viswanath   
Wednesday, 08 June 2011
New Delhi: Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on May 20, 2011, the Central Government has approved 16 Proposals of Foreign Direct Investment (FDI)  amounting to Rs.  923.55 crore approximately.  

A proposal by Goshi India Auto Parts Pvt. Ltd., Delhi & Haryana to convert the Suppliers Credit (Machinery Loan) into equity shares to carry out the business of manufacturing and distribution of spare parts was approved.

A proposal by L&T Finance Holdings Ltd for permission for Pre-IPO placement of equity shares with eligible non- resident investors. This is expected to generate an inflow of Rs. 400 crores.

A proposal by Southern CNG Automobiles India Pvt. Ltd., Kolkata for induction of foreign equity in by a company from Bangladesh was deferred.

Defence Production

A proposal by Centum Electronics Ltd., Bangalore to undertake additional activities related to defence sector was approved.

A proposal by Park Controls & Communications Ltd., Bangalore for Ex-post-facto approval for induction of foreign investment to carry out the defence related activity was also approved. This is expected to generate inflows of Rs. 10 lakhs.

A proposal by Indian Rotorcraft Ltd., Mumbai for induction of foreign equity to carry out the business of final assembly of both military and civil versions of helicopters. was deferred.

Similarly a proposal by Precision Electronics Pvt. Ltd. to undertake the additional activity in the defence sector was also deferred.

A proposal by M/s Gebr. Ewald GmbH, Germany was withdrawn from the Agenda. 

 
Related news
More recent
Earlier on
< Prev   Next >

Sponsors

Mazak - The world's largest machine tool builder
JYOTI - India's most dynamic machine builder
TaeguTec - Cost effective tooling solutions
Advertisement

<< SHARE

Social

AD

Subscribe

Subscribe to MACHINIST by Email

Search

 
RSS 1.0
© 2019 MACHINIST
This site is best viewed with Firefox 2.0 or higher at a minimum screen resolution of 1024x768