Home India Department of Economic Affairs disposes six (6) FDI proposals ag…

Department of Economic Affairs disposes six (6) FDI proposals ag…

By
KS Rao & Team
-
0
Department of Economic Affairs disposes six (6) FDI proposals ag…

 

            During
the month of September 2017, the Department of Economic Affairs has disposed of
six FDI proposals aggregating to foreign investment of Rs. 85.45 crore, as per
details attached.

 

The following four (04) proposals have been
approved:

 






S. No

Name of the applicant

Gist of the proposal

FDI (Rs.  in crore)

1

Aashiyaan Housing & Development
Finance Pvt Ltd

Approval for foreign investments from M/s Insitor Impact
South Asia Pte Ltd, Singapore and M/s Oikocredit Ecumenical Development
Cooperative Society U.A, Netherlands (‘Foreign Investors’) to commence
its operations as a micro housing finance company in eastern India focusing
on Tier II and Tier III towns and surrounding rural areas.

10.00

2

India Ports & Logistics Pvt Ltd

Acquisition of additional stake of up to 70.40% of M/s
India Ports & Logistics Private Limited by M/s Bollore Africa Logistics
SAS

 75.35

3

Principal Pnb
Asset Management Pvt Ltd

Post-facto approval for the indirect foreign
investment made in M/s MF Utilities India Private Limited

0.05

4

Invesco Asset Management Pvt Ltd

Post-facto approval for the indirect foreign
investment made in M/s MF Utilities India Private Limited

0.05

 

            The
following one (01) proposal has been withdrawn:

 



S. No

Name of the applicant

Gist of the proposal

1

CRISIL Ltd

Undertaking
peer-to-peer lending platform business by itself or through one of its
subsidiaries.

 

            The
following one (01) proposal does not lie before DEA:

 

 

 



S. No.

Name of the applicant

Gist of the proposal

1

HSBC Securities and Capital Markets (India)
Pvt Ltd

Merger of the approval letter no FCII
229(1994)/300(1994) dated 13.05.1994 (read along with 18 amendments) and
approval letter no FC II 160(2005)/157(2005) dated 21.06.2005;

Incorporating a wholly owned
subsidiary(WoS) which will act as a trustee company to HSBC Mutual Fund; and

HSBC Invest Direct Financial Services
(India) Limited [WoS of HSBC Invest Direct (India) Ltd] to engage into
additional activities – referral services.

 

 

 

 

 

 

 

 

 

 

*****

 

DSM/KA

 

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