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Shriram Capital among 19 FDI proposals cleared.

Business Line

| February 24, 2011 | COPYRIGHT 1999 Kasturi & Sons Ltd. (Hide copyright information)Copyright

from BUSINESS LINE, February 24, 2011 New Delhi, Feb. 23 - The Centre on Wednesday said it has cleared 19 foreign direct investment proposals to the tune of Rs 1,358 crore, including Shriram Capital Ltd's plan for induction of Rs 1,180 crore worth foreign equity in an investing company.

It also recommended three proposals for the consideration of Cabinet Committee on Economic Affairs (CCEA), as the investment involved in each of the three proposals is above Rs 1,200 crore, an official statement said. These three proposals are: Rs 3,300 crore by Reckitt Benckiser Plc., UK, to set up a wholly owned subsidiary as investing company to make downstream investment; Rs 4,500 crore by …

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