Centre nixes 3 FDI proposals

Company

Investment

Cargill Holding

218.0

ChrysCapital

35.0

Universal Leaf

0.1

Figures in Rs cr

 Cargill Holding had proposed to set up a non-banking finance company which would undertake commodity exchange brokerage.  Though FDI up to 100 per cent is allowed in NBFC activities subject to fulfilment of minimum capitalisation norms, Cargill's proposal hit a roadblock as commodity exchange brokerage does not come under the activities permitted for the NBFCs.  The Reserve Bank of India also does not support 100 per cent or significant foreign investment in commodity exchange broking firms. In the case of Olam Exports (India), the RBI had disapproved of foreign investments in any form in commodity exchange broking firms.  ChrysCapital