No.

11(1)/2008FIPB
GovernmentofIndia
MinistryofFinance
DepartmentofEconomicAffairs
(FIPBUnit)
*****

NorthBlock,NewDelhi110001
Datedthe26thNovember,2008

PRESSRELEASE

BasedontherecommendationsofForeignInvestmentPromotionBoard(FIPB)initsmeeting
heldon18thNovember,2008,FinanceMinister,ShriP.Chidambaramhasapproved32Proposalsof
Foreign Direct Investment amounting to Rs. 845.70 Crore approximately. The proposals relate to
Ministries/Departments, namely,Commerce,Economic Affairs, Information & Broadcasting, Mines,
Road Transport & Highways, Telecommunication, Industrial Policy & Promotion, Power, Urban
Development,andShipping.

Sd/
(P.K.Bagga)
OSD(CM&I)
 23094172
Email:pk.bagga@nic.in

To

TheDeputyDirectorGeneral(M&C)
(ShriB.S.Chauhan)
MinistryofFinance


Copyto:
1.
PPStoJS(FT)
2.
NIC(DEA)
3.
FacilitationCounter
4.
DIPP(FDIDataUnit)


DetailsofProposalsconsideredintheForeignInvestmentPromotionBoard(FIPB)Meetingheldon
18.11.2008

Following32(Thirtytwo)caseshavebeenapproved.
Sl. Nameoftheapplicant
No.

Particularsoftheproposal

FDI/NRIinflows
(Rs.InCrore)

COMMERCE
1 M/sA.Y.N.Accessories
TradingLtd.,(2)M/s
BODOJagdbergHong
KongLtd.,HongKong

Induction of FDI to undertake trading and export of

accessoriesofitemssourcedfromsmallscalesector.

2 M/sAllerganInc.USA

To set up a WoS to carry out B2B sale. The proposal

attractsPressNote1of2005.

3 Mr.PawanSukhdev

TransferofsharestoNRIinTeaplantationsector.

0.50

0.51

1.95

ECONOMICAFFAIRS
4 M/sReid&Tailor(India) Toallotandissueequityshareswarrants.
Ltd.,Mumbai
5 M/sIL&FSWaste
Management&Urban
ServicesLtd.,NewDelhi

To induct FDI in an Indian company having existing

downstreamventures.

6 M/sOrientalStructural Transferofsharestosetupaholdingcompany.
EngineersPvt.Ltd.,New
Delhi

108.33

5.33

450.00

7 M/sOilIndiaLtd.,Noida Conversionofoperatingcompanyintoanoperatingcum
holdingcompanyandIPOissue.

Notindicated

8 M/sSequoiaCapitalIndia Induction of FDI in holding cum operating company

InvestmentsIIIMauritius engaged in the Insurance sector and to allot
CompulsorilyConvertiblePreferenceShares.

9.52

9 M/sTrueDevelopersPvt. Conversionofoperatingcompanyintoanoperatingcum
Ltd.,Chennai
holding company to make further downstream NoFreshInflow
investment.
10 M/sTransUnion
InternationalInc.USA

To purchase and acquire fully paid up equity shares to

investinCreditInformationCompanies.

2.49

11 M/sA.L.L.ServicesUnder Post Facto approval for conversion of operating

1Roof(I)Pvt.Ltd.,
company into an operating cum holding company to NoFreshInflow
make further downstream investment. The proposal

Mumbai

alsoattractsPressNote1of2005.

12 M/sMorganStanleyIndia Conversionofoperatingcompanyintoanoperatingcum
CapitalPvt.Ltd.,Mumbai holding company to make further downstream NoFreshInflow
investmenttocarryouttheprimarydealershipactivities.
13 M/sAmtechSoftware
Pvt.Ltd.,Delhi

Conversionofoperatingcompanyintoanoperatingcum
holding company to make further downstream
investment.

14 M/sORGInformaticsLtd., PostFactoapprovalforissueofequitysharewarrants.
Gurgaon
15 M/sADEATechnologies
Pvt.Ltd.,Secunderabad

Transferofsharesbywayofshareswap.

16 Dr.OetkerIndiaPvt.Ltd. Conversionofoperatingcompanyintoanoperatingcum
Mumbai
holding company to make further downstream
investment.

25.00

7.19

NoFreshInflow

110.40

INFORMATION&BROADCASTING
17 M/sTelevisionEighteen
IndiaLtd.

ToLaunchthreenewregionalbusinessnewschannels.

18 M/sConnoisseur
PublishingPvt.Ltd.,
Bangalore

ToinductFDIupto100%inprintmediasector.

19 M/sReedElsevier
OverseasB.V.,
Netherlands

Induction of foreign equity by way of equity shares/

compulsoryconvertiblepreferenceshares/compulsorily
convertible debentures to undertake the additional
activitiesofpublishingofspecialtymagazines.

0.05

20 M/sHill&Knowlton,
Singapore

TosetupaWoS.TheproposalattractsPressNote1of
2005.

0.10

To subscribe and hold equity shares of a company

proposed to be incorporated pursuant to joint venture
agreement.TheproposalattractsPressNote1of2002.

2.20

NoFreshInflow

0.01

MINES
21 M/sLaviosaChimica
MinerariaS.P.A.Italy

ROADSTRANSPORT&HIGHWAYS
22 M/sVijaywadaTollway
Pvt.Ltd.,Hyderabad

Inductionofforeignequityinacompany.Theproposal
attractsPressNote1of2005.

15.00

INDUSTRIALPOLICY&PROMOTION
23 M/s.Cholamandalam
DBSFinanceLtd.

Postfactoapprovalforallotmentofwarrantstoexisting
NoFreshInflow
nonresidentshareholders.

INFORMATION&BROADCASTING
24 M/s.VijayTelevisionPvt. Tomakedownstreaminvestmentinacompanyengaged
NoFreshInflow
Ltd.
inUplinkingaNonNewscurrentaffairTVchannels.
25 M/s.StarIndiaPvt.Ltd.

To undertake Uplinking and down linking of channels

NoFreshInflow
andtransferofsharestoNonResidentshareholders.

ECONOMICAFFAIRS
26 M/s.GallagherMautitius TransferofsharesbywayofshareswapinITsector.
Holdings,Mauritius
27 M/s.PridhviAsset
Reconstructionand
SecuritizationCompany

Issue of shares to NRIs. The company is engaged in

AssetReconstructionandSecuritisationactivities.

NoFreshInflow

30.00

INFORMATION&BROADCASTING
28 M/s.YellowfinHoldings To set up a WOS to carry out the activity of publishing
Ltd.,Mauritius
printed magazines (not being newspapers and
periodicalsdealingwithnewsandcurrentaffairs).

0.01

TELECOMMUNICATION
29 M/s.XCELTelecomPvt.
Ltd.

Transfer of shares from NonResident to another Non

ResidentintheTelecomsector.

NoFreshInflow

TosetupaWoStocarryouttherentingofconstruction
ofdemolitionequipment.

2.00

URBANDEVELOPMENT
30 M/s.DrillmecS.R.L.
Spain

INDUSTRIALPOLICY&PROMOTION
31 M/s.FederalMogulCorp To set up a new WOS to undertake Manufacture,
distribution and sale of sealing products and gaskets.
ProposalattractsPressNote1(2005series)

74.87

SHIPPING
32 M/s.CMACGMAgencies Postfactoapprovalforconversionofoperatingcompany
Worldwide
intoanoperatingcumholdingcompanytomakefurther
downstreaminvestment

2.

Thefollowing4(Four)proposalshavebeendeferred:
Sl. Nameoftheapplicant
Particularsoftheproposal
No
1 M/sGSRSugarsPvt.Ltd., Toissueshareoptionconvertibleintoequityshares.
Hyderabad

0.24

2 M/sLokmatNewspapers (i)InductionofFDIinacompanyengagedinPrintMedia,(ii)Conversion
Pvt.Ltd.,Mumbai
of operating company into an operating cum holding company to make
further downstream investment, and (iii) allotment of additional shares
pursuanttotheSchemeofdemergerofthepublicationbusinessthrough
aschemeofdemergertobeapprovedbytheHonbleBombayHighCourt.
3 M/sPrithviPrakashan
Pvt.Ltd.,Mumbai

To invest by subscribing to fresh equity shares and by acquiring existing

equity shares in the business of printers and publishers of newspapers,
magazines and periodicals, journals books and works and FM
Broadcasting.

4 M/sDowJones&
CompanyInc.,USA

To make a WoS to carry out the publishing of facsimile editions of

newspapers.

3.

Thefollowing3(Three)proposalhasbeenrejected:
Sl.
No

Nameoftheapplicant

Particularsoftheproposal

1 M/s.Nagarjuna
ConstructionCo.Ltd.

TomakeamendmentintwoclausesoftheFCapprovalletter.

2 M/s.InuitU.S.Holdings
Inc.USA

To acquire equity share capital through multiple stock market

transactions.

3 M/s.DelightInvestments InductionofforeignequityintwoIndiancompaniesandtoconverttheir
PteLtd.,Singapore
statusfromoperatingcompanyintooperatingcumholdingcompanyfor
makingfurtherdownstreaminvestments

4.

Thefollowing2(Two)proposalshavebeenwithdrawnfromtheAgenda.

Sl.No

Nameoftheapplicant

M/s.AnsalProperties&InfrastructureLtd.,NewDelhi

M/s.JaipurMahuaTollwayPvt.Ltd.,Rajasthan