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DEA disposes two FDI proposals of November

Staff reporter, New Delhi
06/12/2017   0 Comments

The Department of Economic Affairs, Ministry of Finance has diposed off two FDI proposals involving Foreign Direct Investment of Rs. 1.90 crore in the month of November.

Wells Fargo International Finance (India) Pvt Ltd which sought approval for issuance of equity shares to M/s Wells Fargo International Finance LLC and M/s 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 has been approved.

While SBI Macquarie Infrastructure Management Pvt Ltd which sough approval for undertaking capital and profit repatriation to shareholders, and to continue to act as an asset manager and investment advisor without minimum capitalization norms has been rejected, Bureaucracy Today reports.




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