Government of India has approved 14 proposals of foreign direct investment (FDI) in Financial Srevices Sector worth Rs.1,584.11 crore. The Details of of all Approvals given at end.
The overseas investment proposals have been approved on the of the Foreign Investment Promotion Board (FIPB).
Rs.674 crore overseas investment is approved in Abhijeet Power Limited of Maharashtra. The approval is for induction of foreign equity in an investing company to make downstream investment.
Pune-based Bajaj Finserv Limited has got approval to raise Rs.100 crore. The company will issue and allot equity shares to carry out the business relating to non-banking financial company (NBFC) activities directly and through subsidiaries under rights issue.
The government has rejected seven proposals while the decision on 15 proposals have been deferred.
Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meetingheld on 29.06.2012 Â
         Following 14 (Fourteen) proposals have been approved:
|
Sl. No. |
Name of the applicant |
Particulars of the proposal |
FDI/NRIinflows (Rs.Incrore) |
COMMERCE
|
1 |
M/s TakshilaTech Parks & Incubators (India) Pvt. Ltd., Hyderabad | Approval has been sought for not meeting the condition of minimum capitalisation within six months from the commencement of business pursuant to re-classification of the activity of the company, from Industrial Development Park (Para 6.2.12) to Construction Development: Townships, Housing, Built-up infrastructure. |
182.50 |
ELECTRONICS & INFORMATION TECHNOLOGY
|
2 |
M/s RightsterLimited, London | To set up an LLP to undertake the business of providing software development services. |
0.87 |
FINANCIAL SERVCIES
|
3 |
M/s AbhijeetPower Limited, Maharashtra | Induction of foreign equity in an investing company to make downstream investment. |
674.00 |
|
4 |
M/s BajajFinserv Limited,Pune | To issue and allot equity shares to carry out the business relating to NBFC activities directly and through subsidiaries under Rights Issue. |
100.00 |
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HEALTH & FAMILY WELFARE
|
5 |
M/s UttamSuper Brands LLP, New Delhi | To set up an LLP with the induction of foreign equity participation to engage in making and selling of appliances such as breathing apparatuses/kits and fire extinguishing equipments and carbon fibre cylinders/or parts, consumables, components  and accessories thereof such as valves, regulators, hoses, horns, trolley bags etc., related thereto. |
0.05 |
|
6 |
M/s ShasunPharmaceuticals Limited,Tamilnadu | Ex post facto approval for induction of foreign equity to carry out the activities relating to brownfield pharmaceuticals sector. |
49.99 |
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HOME AFFAIRS
|
7 |
M/sEurocopter India Pvt. Ltd., Delhi | To undertake the additional activities relating to development of software and other allied IT enabled services such as engineering and designing in the defence sector. |
No fresh inflow |
INDUSTRAIL POLICY & PROMOTION
|
8 |
M/s RambollIndia Pvt. Ltd., Hyderabad | Ex post facto approval for issuance ospartly paid up shares to carry out the business of tower engineering and tower related services in the infrastructure segments for both telecom and power transmission and software development sales and services of tower design detailing. |
1.85 |
POWER
|
9 |
M/s BhilwaraEnergy Ltd | Induction of foreign equity in an investing company. |
2.55 |
DEFENCE PRODUCTION
|
10 |
M/s Track Systems India Private Limited, Tamil Nadu | Induction of foreign equity to carry out the manufacturing, assembling, marketing, trading in defence sector |
25.00 |
EXTERNAL AFFAIRS
|
11 |
M/s CLSA Singapore Holdings Pte Ltd., Singapore/ M/s CLSA Limited, Hong Kong | Induction of foreign equity in an investing company to carry on the business of process outsourcing services for clients, both domestic and offshore.  Currently the Investor company is non functional. |
225.00 |
INDUSTRIAL POLICY & PROMOTION
|
12 |
M/s NCBG Holdings Inc (DCX Cable Assemblies Pvt. Ltd. | To undertake the additional activities in the defence sector. |
No inflow |
|
13 |
M/s MF Global SifySecurities India Pvt. Ltd. | Increase in foreign equity participation to carry out the business of commodity broking and Stock broking. |
81.00 |
TELECOMMUNICATIONS
|
14 |
M/sNetmagicSolutions Pvt. Ltd. | Increase in foreign equity upto 74 percent and induction of a new foreign collaborator to undertake the business of Internet Service Provider with gateways. |
182.8 |