Friday, September 7, 2012

P Chidambaram's FDI Overdrive: Mauritius Route

Ministry of Finance 06-September, 2012 19:05 IST FDI Proposal of M/S Cloverdell Investments Ltd. Mauritius Worth Rs. 808.06 Crore Approved
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on July 27, 2012, the Government has approved 11 Proposals of Foreign Direct Investment amounting to Rs. 2067.98 crore approximately. The Press Release dated August 23, 2012 has been modified and the proposal of M/s Cloverdell Investments Ltd. Mauritius worth Rs. 808.06 crore (FDI/NRI inflows), which was pending for certain clarification, has also now been approved. The proposal was related to induction of foreign equity in an operating NBFC with downstream investments in companies engaged in/proposed to be engaged, inter alia, in the business of housing finance, stock broking (including derivatives and currency derivatives broking), depository participant service, commodity broking and investment advisory activities.
****** DSM/RS/GN (Release ID :87545)
FDI Mauritius Route

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