Business Daily from THE HINDU group of publications
Wednesday, Oct 24, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Oct 24, 2007 ePaper | Mobile/PDA Version |
|
|
|
|
|
|
|
Industry & Economy
-
Foreign Direct Investment Marketing - Brands FIPB gives conditional nod for NCH subsidiary Moumita Bakshi Chatterjee New Delhi, Oct 23 The US-based marketer of speciality chemicals NCH Corporation has received FIPB nod for foreign equity up to 100 per cent in NCH India, on the condition that it would not carry on business under ‘Chemsearch’ and ‘Chem-Aqua’ brand names for which it has an existing licence agreement with KCH India. NCH India Pvt Ltd is a company newly-incorporated and proposes to carry on the business of manufacturing, importing, exporting, marketing, selling of speciality maintenance chemicals and lubricant products in India and abroad under the brand “Certified Laboratories.” NCH Corporation had sought the FIPB approval for induction of up to 100 per cent foreign equity in NCH India in a manner such that all shares would be held by NCH Corporation except one, which would be held by NCH Global One Inc, an affiliate of the US firm. ProposalsThe proposal attracted Press Note 1, as NCH had granted a licence in favour of KCH India (a resident company) to market chemical products under the brand names ‘Chemsearch’ and ‘Chem-Aqua’ in 2003. KCH India has given its no-objection for the proposed investment subject to the conditions that any trademark licence agreement between NCH and its wholly owned subsidiary would not include ‘Chemsearch’ and ‘Chem-Aqua’ . NCH has confirmed that the Indian company would not carry on the business under these brand names. The FIPB has approved the proposal subject to these conditions. More Stories on : Foreign Direct Investment | Chemicals | Mergers & Acquisitions | Brands | Regulatory Bodies & Rulings
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, 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
|