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The Ministry of Finance has rejected the Foreign Direct Investment (FDI) proposal of SBI Macquarie Infrastructure Management Ltd.
An official statement said that an approval was sought for undertaking capital and profit repatriation to shareholders, and to continue to act as an asset manager and investment advisor without minimum capitalisation norms.
₹1.90-cr Wells Fargo planBut the Department of Economic Affairs has approved the ₹1.90-crore FDI proposal of Wells Fargo International Finance (India) Private Ltd.
An official statement said, that approval was sought for issuance of equity shares to Wells Fargo International Finance LLC and Wells Fargo International Banking Corporation for meeting obligations pertaining to certain pre-operative/pre-incorporation expenses and the proposed voluntary liquidation of Wells Fargo India.
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