The Central Government, on Thursday, announced its approval to a foreign direct investment (FDI) proposal of Mauritius-based Cloverdell Investments Ltd. envisaging a forex inflow worth Rs.808.06 crore.
With this, the total number of FDI proposals cleared by the board during the July 27 meeting has gone up to 11 entailing an investment inflow of Rs.2,067.98 crore.
Cloverdell Investments’ proposal, the statement said, was related to induction of foreign equity in an operating NBFC (non-banking finance company) with downstream investments in companies engaged in/proposed to be engaged, inter alia, in the business of housing finance, stock broking (including derivatives and currency derivatives broking), depository participant service, commodity broking and investment advisory activities.
