Government Approves One (1) Proposal Of Foreign Direct Investment (FDI)

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M/s Sistema ShyamTeleServices Limited

Approval has been sought for the exit of the resident shareholders and transfer of their holdings to the existing foreign shareholders i.e. M/s Sistema Joint Stock Financial Corporation, Russia and Federal Agency for the State Property Management (Rosimushchestvo), thereby increasing the foreign shareholding in the company from 73.95% to 100% and consequently increasing the foreign shareholding in its downstream company i.e. Shyam Internet Services Limited to 100%.

Telecom

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M/s Mount Kailash Shipping Pvt. Ltd

Approval has been sought  to offer, issue and allot 4,14,00,000 equity shares having par value of Rs. 10 at a premium of Rs. 5 each, constituting up to 100% of its issued and paid up equity share capital to M/s MT. Kailash Pte. Ltd., Singapore in exchange for a Platform Supply Vessel.

Shipping

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M/s Rev India Pvt. Ltd.

Post Facto approval has been sought by for issue of equity shares out of funds received from their parent company for business expenses.

NBFC

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13

M/s G4S Cash Solutions (India) Private Limited

i.          Post-facto approval for the investment of Rs. 50 Lacs by G4S Plc in G4S Cash on October 04, 2006 and the allotment of 5,00,000 equity shares of G4S Cash to G4S Plc on May 06, 2008

ii.         Post-facto approval for the investment of Rs. 1.00 crore by  G4S International Holdings Limited in G4S Cash on October 16, 2006 and the allotment of 10,00,000 equity shares of G4S Cash   to G4S International Holdings Limited on May 06, 2008.

iii.        Conversion of the existing shareholding of G4S Holdings India Limited, UK in G4S Cash of 12,00,000 equity shares (aggregating to 44.44% of the equity shareholding of G4S Cash) from non-repatriation mode to repatriation mode, such that any surplus funds, if any, post discharging the liabilities and winding up cost of G4S Cash may be repatriated.

iv.        Approval for share capital infusion (in one or more tranches) of up to Rs. 130.00 crore  by G4S International Holdings Limited, UK into G4S Cash, for the issuance of further equity shares of G4S Cash to G4S International Holdings Limited, UK, to be used for the purpose of repaying all the liabilities and winding up costs of G4S Cash.

Private security Agency

S. No

Item No

Name of the applicant

Gist of the proposal

Sector

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M/s Turmeric Vision Private Limited

Post facto approval has been sought for contravention of the foreign equity of 80% as approved vide approval letter of even no. FC II 60(10)/91(2010) dated 14.06.2010.

News and current affairs

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M/s FTF Pharma Pvt. Ltd

Approval has been sought by M/s FTF Pharma Pvt. Ltd. for sale of 2300 fully paid equity shares from their existing shareholders for a total consideration of INR 51,52,800 at a price of INR 2240 per share. The Investor shall further subscribe to 28900 fully paid equity shares of face value of Rs 10 each of the Investee Company for and at a price of INR 2240 per share.

Pharma

S. No

Item No

Name of the applicant

Gist of the proposal

Sector

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M/s ZCL Chemicals Limited,

 a Pharmaceutical company has sought approval for foreign investment of 19.32% by M/s NHPEA Zeus Holding B.V., Netherlands by way of:
i. Subscription of fresh equity shares 
Purchase of equity shares from existing shareholders

Pharma

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M/s Glenmark Pharmaceuticals Limited

 approval for amendment to the Approval Letter of even No. 10(2015)/174(2014) dated April 24, 2015, to permit the company to issue securities* to any eligible non-resident investors and not limited to only FIIs as permitted under the FDI Policy, 3upto the approved limit of 49%, and also seeking permission to delete the amount from the approval letter

Pharma

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10

M/s Euronet Services India Pvt. Ltd

Approval has been sought for removal of clause 2 in the approval letter of even no 58(2003)44(2003) dated 09.07.2013.
Note : Clause 2 of the approval letter – “ Compliance with minimum capitalisation of USD 50 million by way of foreign equity as laid down in Para 6.2.18.8.2 of the Consolidated FDI Policy 2015.

NBFC