RBI allows 100% FII in Crompton Greaves Consumer Electricals
The Dollar Business Bureau The Reserve Bank of India has allowed foreign investors to buy 100% in Crompton Greaves Consumer Electricals Ltd (CGEL). In a notification released to the press RBI said, “Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 100 per cent of the paid up capital of Crompton Greaves Consumer Electricals Limited under the Portfolio Investment Scheme (PIS).” The company, Crompton Greaves had passed special resolutions in its Board of Directors meeting and in its shareholders’ meeting, agreeing to enhance the limit for the purchase of its equity shares and convertible debentures through FII’s and RFPI’s. Mention needs to be made of the attempt made in May by private equity firm Advent International Corp and the famed Singapore state ...
New IPR policy to push economic growth: Minister
The Dollar Business Bureau The national Intellectual Property Rights (IPR) policy is in the offing and release of this policywill give India much-needed push in its economic growth and socio-economic developmental agenda,Union Minister Ram Vilas Paswan has said. The Minister for Consumer Affairs, Food and Public Distribution was speaking at the International Conference on Illicit Trade – Threat to National Security and Economy, organised by Federation of Indian Chamber of Commerce and Industries Committee Against Smuggling & Counterfeiting Activities Destroying Economy ((FICCI CASCADE). Paswan said that the country’s views on IPR and enforcement laws domestically are increasingly important to its international trading partners and to prospective business investors. “Given the key role of technology, invention and innovation in India’s current ...
