The Hindu Business Line : Patni Computer among 18 FDI plans cleared

Clearance has been given to Patni Computer Systems Ltd's plan to increase holding in the company from the present 39.21 per cent to 60.49 per cent involving FDI worth Rs 521.37 crore from its nine foreign partners including GE Capital Mauritius Equity Investment.

The proposal of Feedback Integrated Infrastructure Developers Pvt. Ltd to set up an integrated township at Gurgaon in Haryana with 74.04 per cent equity involving FDI worth Rs 72 crore has been cleared.

The Indonesia-based PT Buana Mega Bansako too got the go-ahead for its plan to set up a 100 per cent subsidiary for cash and carry wholesale trading of sports and lifestyle products involving FDI worth Rs 10 crore.

The Minister also cleared Geodis Overseas Pvt. Ltd's plan to increase equity in the company from 85 per cent to 95 per cent involving FDI worth Rs 4.2 crore.

He has also allowed four companies to convert their Indian joint ventures into wholly-owned subsidiaries.

Send this article to Friends by E-Mail

Stories in this Section
Fast-track courts in AP better HC target

Business confidence `significantly' up

Drought to hit fertiliser sector

Ghana woos Indian business

China to correct trade `imbalances'

Vision document outlines steps to develop Kochi

Oil dealership issue may end up in court — `Arbitrary cancellation not possible'

BG board clears $50 m for reviving oil fields

CII urges Kerala not to hike power rates

Drought likely to hit tax collections