Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 219th meeting held on 15th June 2015, Government has approved 10 proposals of Foreign Direct Investment amounting to Rs. 1675.15 crore approximately.
Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 15.06.2015 are as under:
Following 10 (ten) proposals have been approved by the Government:
NTT Communications India Network Services Pvt. Limited (“NewCo”)
Rs. 620 crore
(ii) To purchase 13,00,260 shares constituting 26% share capital of M/s Sprint Telecom India Private Limited held by Persistent Systems Limited by way of purchase of 13,00,259 shares of Sprint Telecom India Private Limited by M/s Sprint International Holding Inc., USA being 25.99% and purchase of 1 share of Sprint Telecom India Private Limited by M/s Sprint International Inc., USA being 0.01%.
M/s Sprint Telecom India Private Limited
The following 12 (twelve) proposals were deferred:
(i) to incorporate the helicopter model as AW 119Kx in place of AW 119Ke.
(ii) to undertake final assembly of AgustaWestland’s helicopters for export to global customers or offered to Indian Civil market only and
(iii) to change the foreign investor from M/s AgustaWestland N.V., The Netherlands to M/s AgustaWestland S.p.A, Italy as M/s AgustaWestland N.V., The Netherlands merged into M/s AgustaWestland S.p.A, Italy, pursuant to an internal re-organization through merger within the AgustaWestland group w.e.f January 01, 2014.
The following 2 (two) proposals have been rejected:
The following 1 (one) proposals were not considered by/did not lie before FIPB:
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