Repayment of 10.47% Government Stock, 2015 on February 12, 2015





Repayment of 10.47% Government Stock, 2015 on February 12, 2015 

The outstanding balance of 10.47% Government Stock, 2015 is repayable at par on February 12, 2015. No interest will accrue thereon from the said dates. In the event of a holiday being declared on February 12, 2015 by any State Government under the Negotiable Instruments Act, 1881, the loan will be repaid by the paying offices in that State on the previous working day. 


As per sub-regulation 24(2) and 24(3) of Government Securities Regulations, 2007 payment of maturity proceeds to the registered holder of Government Security held in the form of Subsidiary General Ledger or Constituent Subsidiary General Ledger account or Stock Certificate shall be made by a pay order incorporating the relevant particulars of his bank account or by credit to the account of the holder in any bank having facility of receipt of funds through electronic means. For the purpose of making payment in respect of the securities, the original subscriber or the subsequent holders of such a Government Securities, shall submit the relevant particulars of their bank account well in advance. 

However, in the absence of relevant particulars of bank account/mandate for receipt of funds through electronic means, to facilitate repayment of the Loan on the due date, holders may tender the securities, duly discharged, at the Public Debt Offices, Treasuries/Sub-Treasuries and branches of State Bank of India and its Associate Banks (at which they are enfaced/registered for payment of interest) 20 days in advance of the due date for repayment. 

Full details of the procedure for receiving the discharge value may be obtained from any of the aforesaid paying offices. 

Government of India, Ministry of Finance, Department of Economic Affairs 

North Block, New Delhi-110 001

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Government Approves Eight (8) Proposals of Foreign Direct Investment (FDI) Amounting to About Rs. 34.77 Crore 


Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on 21st November 2014, the Government of India has approved eight (8) proposals of Foreign Direct Investment (FDI) amounting to Rs. 34.77 crore approximately. 

            In addition, one proposal relating to M/s Lupin Limited has been recommended for consideration of Cabinet Committee on Economic Affairs (CCEA).      

Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 21.11.2014 are as follows:

            Following eight (8) proposals have been approved by the Government:

Sl.
No.
Name of the
 applicant
Gist of the proposal
Sector
Proposed FDI (In Rs.Crore)
1.
M/s Medicamen Biotech Limited, Delhi
M/s Medicamen Biotech Limited, Delhi, engaged in pharmaceutical sector, has sought approval for additional foreign investment by M/s Pharmadanica A/S, Denmark, an existing foreign investor in the company.
Pharma
0.15 (approx)
2.
M/s Mahanagar Gas Limited
 M/s Mahanagar Gas Limited, engaged in Petroleum and Natural gas sector, is seeking approval to record revised proposed shareholding structure.
P&NG (Others)
Nil
3.
M/s TutorVista Global Private Limited, Chennai
Approval has been sought by M/s TutorVista Global Private Limited for the merger of several direct and indirect wholly owned subsidiaries of Pearson (Singapore) PTE Limited.
IT &
ITES
Nil
4.
M/s CSC Computer Sciences International Operations Limited, United Kingdom
M/s CSC Computer Sciences International Operations Limited, United Kingdom, is seeking permission for setting-up a proposed LLP. 
 IT & ITES
30.00 (approx)
5.

M/s Ventura (India) Private Limited
M/s Ventura (India) Private Limited, engaged in services sector, seeking approval for issuance of shares to a foreign company in the IT sector in consideration of acquiring latter’s branch office in India pursuant to a court approved scheme of demerger.
IT &
ITES
Nil
6.
M/s Life Positive Private Limited. (LPPL).
Increase in foreign equity participation from the existing 96% to 99% of the equity of the Company and induction of further FDI ofRs.4,60,75,900 by the foreign collaborators.

I&B
4.61
(approx.)
7.
M/s Syssmart Services LLP, Mumbai
(No. FC.I-118/2014)
M/s Syssmart Services LLP, Mumbai, engaged in software supply services, has sought approval for investment by Mrs. Manjushree Khisty, a foreign national.
Others (Software Services)
0.0095
8.
M/s Mahindra CIE Automotive Limited, Mumbai.
(No. FC.I – 123/2014)
M/s Mahindra CIE Automotive Limited, Mumbai has sought approval to issue and allot 6,30,03,150 equity shares to M/s Participaciones Internacionales Autometal Dos. S.L., Spain (PIA 2), the non-resident shareholder of M/s Participaciones Internacionales Autometal Tres, S.L. Spain (PIA 3), in consideration of merger of  M/s Participaciones Internacionales Autometal Tres, S.L. Spain (PIA 3) into M/s Mahindra CIE Automotive Limited.
Others
Nil


The following twelve (12) proposals have been recommended to be deferred:

  
Name of
the applicant
Gist of the proposal
Sector


1.
M/s Syngene International Limited, Bangalore
An Indian Pharma company, engaged in contract R&D and manufacturing to third parties, is seeking approval for 10% foreign equity participation in its equity shares capital.
Pharma
2.
 M/s Biogenomics Limited
Proposal for increase in aggregate limit of investment by SEBI registered FIIs and their sub-accounts in the capital of M/s Lupin Limited under the Portfolio Investment Scheme, put together to 49%.
Pharma
3.
M/s Keppel Puravankara Development Private Limited, Bangalore
M/s Keppel Puravankara Development Private Limited, Bangalore, engaged in construction and development of residential projects in India, has sought approval for redemption of preference shares issued to the foreign investor M/s Keppel Puravankara Development Pvt Limited, upon the expiry of minimum lock-in period of 3 years.
Construction & Development
4.
M/s India Value Fund IV
M/s India Value Fund IV, having 97% FDI, seeking approval for downstream investment in M/s Atria Convergence Technologies Private Limited, an internet service provider and holds downstream investment in companies engaged in internet service provider and multi system operator for cable network.

Telecom & I&B
5.
M/s Bencera Resources Private Limited, Ahmedabad
M/s Bencera Resources Private Limited, Ahmedabad, engaged in trading of ceramic industry consumables, has sought post-facto approval for partly paid shares issued to M/s Ceranik System Limited, China.
I&B
6.

M/s Knowlarity Communications Private Limited, Delhi.
M/s Knowlarity Communications Private Limited, engaged in providing telecom services, has sought an approval to transfer equity shares from existing investors and fresh issue of equity shares and CCPS to existing and new investor- leading to an increased FDI stake from 56.14% to80.97%. 

Telecom
7.
M/s SME Capital Market Corporation Ltd, Delhi


M/s SME Capital Market Corporation Ltd. Delhi, presently a holding company, which proposes make downstream investment in companies to engage in manufacturing, has sought approval for foreign investment in the company.

Telecom
8.
M/s Cheekotel Venture Fund Private Limited, Delhi.
M/s Cheekotel Venture Fund Private Limited, Delhi, a domestic VCF company, has sought approval to issue equity upto 40% (of the voting rights) to foreign investors for making investment in M/s SME Capital Market Corporation Ltd. Delhi.

Telecom
9.
M/s Shah Vibratory LLP, Mumbai
M/s Shah Vibratory LLP, Mumbai has sought approval for 50% foreign participation of M/s National Air Vibratory Company, USA.
Others
10.
M/s SNC-Lavalin Mauritius Limited.
[No. FC.II 39(2012)/32(2012)]
M/s SNC-Lavalin Mauritius Limited is seeking approval for conversion of CCPS into equity shares held in M/s Piramal Roads Infra Private Limited, an Indian investing cum operating company and to increase its shareholding from 10% to 17%.
Investing company
11.
M/s Montblanc Services B.V, Netherlands.
[No. 10/SIA/RT/2014-FC.I)
M/s Montblanc Services Blank B.V, Netherlands (holding 51% of shares) and M/s Titan Company Limited, India (holding 49% of shares) propose to set up a Joint Venture company (to be incorporated) for undertaking single brand retailing of ‘Montblanc’ products.
Retail trading/ Misc
12.
M/s Verint Systems (India) Private Limited.
(No. FC.II: 512/2005)
A WoS of foreign company, holding FIPB approval to undertake  cash and carry wholesale trading and export trading in respect of only Enterprise Intelligence Systems( EIS) and Video Intelligence Systems (VIS) products related to telecom and defence, has sought removal of  condition of seeking prior approval before  making every sale imposed by FIPB.
Wholesale and Export Trading

 The following two (2) proposals have been withdrawn by the applicant:

Sl. No.
Name of the applicant
1.
M/s Today Magazines Lifestyle Private Limited, New Delhi.
2.
M/s TC Capital Managers

            The following one (1) proposal has been recommended for the consideration of the CCEA, as the investment involved in the proposals is above Rs. 1200.00 crore:

Sl.
No.
Name of the
 applicant
Gist of the proposal
Sector
1.

M/s
Lupin
 Limited
Proposal for increase in aggregate limit of investment by SEBI registered FIIs and their sub-accounts in the capital of M/s Lupin Limited under the Portfolio Investment Scheme, put together to 49%.
Pharma


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Government Signs Loan Agreement with Asian Development Bank (ADB) for $75 Million and $1.8 Million Grant for Karnataka Integrated Urban Water Management Investment Program 

Government of India signed an agreement with Asian Development Bank (ADB) here today for a $75 million loan and a $1.8 million grant that will help improve water resource management in three (3) towns of Karnataka in the Upper Tungabhadra sub-basin. This loan from the ADB’s Ordinary Capital Resources has a 25-year term including a grace period of five years. 

This first tranche of the loan under the Karnataka Integrated Urban Water Management Investment Program will help expand and upgrade urban water supply and sanitation infrastructure; improve water resource planning, monitoring and service delivery; and strengthen operational and administrative capacity in the three towns of Byadagi, Davanagere and Harihar. 

Shri Tarun Bajaj, Joint Secretary, Department of Economic Affairs at the Ministry of Finance, signed the agreement on behalf of Government of India, and Shri Rajeev Singh, Officer-in-Charge of ADB’s India Resident Mission, signed the agreement on behalf of ADB. The project agreement was signed by Shri D. Chandrashekariah, Joint Director, Planning, Urban Development Department, Government of Karnataka on behalf of Government of Karnataka and Shri Darpan Jain, Managing Director, Karnataka Urban Infrastructure Development & Finance Corporation Limited (KUIDFC) on behalf of KUIDFC. 

Speaking on the occasion, Shri Bajaj said that he is happy to note that this project will help increase water treatment capacity by 15,000 cubic meters per day; help expand and upgrade more than 1,000 kilometers of water pipelines, and increase sewage treatment capacity by 48,000 cubic meters per day, thereby promoting water efficiency and environmental protection. 

Shri Rajeev Singh, Officer-in-Charge of ADB’s India Resident Mission said that the project will pioneer the establishment of Urban Local Bodies Incentive Fund to assist towns in implementing reforms and mainstreaming the use of performance-based contracts in ensuring continuous water services. He said that the project will also test the application of output based approaches to support program for poor and vulnerable households. 

The investment program aims to improve water resource management in urban areas in a holistic and sustainable manner. Investment support will be provided to modernize and expand urban water supply and sanitation (UWSS) while strengthening relevant institutions to enhance efficiency, productivity and sustainability in water use. Innovative instruments, such as public-private partnership (PPP) or reform oriented incentive funds will also be pursued. The Program will seek to assist more fragile environments increasingly affected by water resource degradation, often located in North Karnataka. The Program will also promote climate-resilient development, capacity-development for conducive adaptation. 

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Government Signs Loan Agreement with Asian Development Bank (ADB) for $60 Million for Jammu and Kashmir Urban Sector Development Investment Program 

The Government of India signed an agreement with Asian Development Bank (ADB) here today for a $60 million loan that will help improve urban services, including water supply and urban transport infrastructure, in two key cities of Jammu and Kashmir. This loan from the ADB’s Ordinary Capital Resources has a 25-year term including a grace period of five years. 

The third tranche loan under the Jammu and Kashmir Urban Sector Development Investment Program will supplement the urban infrastructure up-gradation program initiated under Project 1 and Project 2. About half-a-million people in Srinagar and Jammu will benefit from improved access to water supply, functional drainage systems, and better transport infrastructure 

Shri Tarun Bajaj, Joint Secretary, Department of Economic Affairs at the Ministry of Finance, signed the agreement on behalf of Government of India, and Shri Rajeev Singh, Officer-in-Charge of ADB’s India Resident Mission, signed the agreement on behalf of ADB. The project agreement was signed by Shri Tahseen Mustafa, Chief Executive Officer, J&K ERA on behalf of Government of Jammu & Kashmir and Ms. Shagufta Qazi, Director Finance J&K Economic Reconstruction Agency on behalf of J&K ERA. 

Speaking on the occasion, Shri Bajaj said that the project will support the state in ensuing ¬increase average water supply, from 90 liter/day/capita to 135 liter/day/capita through rehabilitation and improvement of infrastructure. This would also help in substantial reduction of water logging in project areas. 

Shri Rajeev Singh, Officer-in-Charge of ADB’s India Resident Mission said that the capacity development programs will be run for the concerned state government departments and representatives of urban local bodies to enable them to provide better urban services and bring efficiency and accountability in their functioning. 






Repayment of 10.47% Government Stock, 2015 on February 12, 2015 Repayment of 10.47% Government Stock, 2015 on February 12, 2015 Reviewed by Ajit Kumar on 10:31 AM Rating: 5

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