The government has disposed of Foreign Direct Investment (FDI) proposals worth Rs 3,250 crore in the month of April 2018. The Department of Economic Affairs (DEA), under Ministry of Finance in its statement has said that a total of five proposals were disposed off, out of which three were approved, one rejected and one returned to the applicant on grounds of being premature.
The Finance Ministry has cleared proposals included that of Hindustan Infralog which sought approval for foreign investment from DP World Global Investment BV, Netherlands amounting to 65% of paid-up share capital. It added that proposal of Hindustan Infralog will bring FDI up to Rs 3,250 crore. The other two proposals CVC Asia Pacific (Singapore) Pte and Alcon Laboratories (India) cleared by the Finance Ministry will not result in flow of FDI.
Besides, the Ministry rejected the proposal of Kora Research Advisors India LLP. Moreover, it has sought further information in case of proposals of Northvale Capital Partners which intends to acquire up to 100% of the share capital of a non-operational investment holding company Vadodara Stock Exchange, a derecognised stock exchange.