Finance Minister clears 32 FDI proposals including one for Real Estate | INRnews
New Delhi, November 6, 2006 - Union Finance Minister, Shri P. Chidambaram has approved 32 Foreign Direct Investment proposals recommended by Foreign Investment Promotion Board (FIPB) in its meeting held on 20th October, 2006. The approvals amount to Rs. 249.81 crore. The proposals relate to multiple Ministries/Departments, with the major investment proposals pertaining to the departments of Commerce, Economic affairs, Heavy Industry and Information & Broadcasting.
A real estate proposal cleared is for Beekman Helix India Partners LLC to hold downstream investments in Indian companies engaged in real estate. Permission has been granted for induction of foreign equity up to 100% for such investments to the tune of Rs.45 crore. Beekman Helix India Partners is a real estate advisory and strategic consulting firm. headed by Manish Parwani.
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By INRnews Correspondent
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