Finance Ministry clears FDI proposal worth Rs 1.90 crore in November – Feedback

Finance ministry today said it cleared a foreign direct investment (FDI) proposal of Rs 1.90 crore in November.

Proposal relating to Wells Fargo International Finance (India) Pvt Ltd was approved, Finance Ministry said in a statement issued today.Company had sought approval for issuance of equity shares to Wells Fargo International Finance LLC and Wells Fargo International Banking Corporation for meeting obligations pertaining to certain pre-operative or pre-incorporation expenses and the proposed voluntary liquidation of Wells Fargo India.

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