Financial Daily from THE HINDU group of publications
Wednesday, Aug 07, 2002

News
Features
Stocks
Port Info
Archives

Group Sites

Industry & Economy - Foreign Direct Investment


Patni Computer among 18 FDI plans cleared

Our Bureau

NEW DELHI, Aug. 6

THE Union Minister for Commerce and Industry, Mr Murasoli Maran, today cleared 18 proposals involving FDI worth Rs 610 crore.

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
`Entry tax to check revenue loss'
Keeping the tricolour flying high
Export marketing training
Foreign varsity courses online at affordable fees
Development fund for paper industry likely
Unemployment bane of Manipur women
Patni Computer among 18 FDI plans cleared
Uttaranchal to woo pvt players in tourism field


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |

Copyright 2002, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line