The government has approved two foreign direct investment (FDI) proposals and has recommended one for approval from the Cabinet Committee on Economic Affairs.
The Centre cleared Aurobindo Pharma Ltd’s proposal worth Rs. 2.19 crore relating to grant of employee stock options to non-resident employees of the company. It also approved Sterling Commerce Solutions India Private Ltd’s proposal to act as an investing company for Curan Software International Private Ltd, Emptoris Technologies India Private Ltd, Kenexa Technologies Private Ltd and Rational Software Corporation (India) Private Ltd, which are currently owned by overseas companies of IBM and are currently dormant. Meanwhile, CCEA approval will be required for Ambuja Cements Ltd’s proposal for acquisition of 24 per cent shares in its holding company, Holcim (India) Pvt Ltd, from the latter’s holding company Holderind Investments Ltd and subsequent reverse merger through a share swap. The proposal is worthRs. 3,400 crore.