Proposals of Walt Disney, BNP Paribas deferred

The Finance Ministry has cleared six foreign direct investment (FDI) proposals with estimated investments of Rs 551 crore.

The proposals cleared include Mauritius-based Destimoney Enterprises Limited’s Rs 489.99 crore proposal for subscribing to 3,76,92,300 partly paid equity shares of PNB Housing Finance Ltd.

A number of proposals, including that of Walt Disney, News Laundry, BNP Paribas and Indian Rotorcraft, has been deferred by the Government , an official release said.

The FIPB, which is scheduled to meet on Friday, will take up 31 FDI proposals, which include that of Johnson & Johnson and Monsanto Holdings.

Others that have been cleared include Amri India Private Limited’s proposal for fresh investment of $10 million from its parent company Albany Molecular Research, Mauritius and Brunswick India Limited’s application for making 99.99 per cent investment in the capital of a Limited Liability Partnership to be incorporated in India.

The proposals were all cleared by the FIPB at its meeting last month, following which they have been officially given the go-ahead by the Finance Ministry.

(This article was published on July 3, 2014)
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