New Delhi, Aug 15: The government has cleared 21 proposals envisaging foreign direct investment worth Rs 39.5 crore, including Dutch major ABN Amro Bank's Rs 25 crore investment plan for setting up a company in the country. The proposals were cleared by the Finance Minister after a Foreign Investment Promotion Board meeting on July 31 recommended them, according to an official statement.

Singapore-based Japfa Comfeed International's proposal for transfer of shares from resident to non-resident shareholders, envisaging a Rs 5.78 crore investment, was cleared on Thursday along with Rs 2.10 crore FDI investment by Japanese major Mitsuba Corporation, again for a similar transfer of shares.
Other proposals cleared included Canadian firm International Air Transport Association's plan to set up a 100 per cent owned subsidiary; US company Adil & Associates' proposal for fresh issue of shares to foreign investors and UAE based R A K Ceramics' plans to set up joint venture operations here.
Also, Singapore-based Nera Telecommunications has been allowed to invest Rs 1.5 crore to increase foreign equity participation to 100 per cent. Bureau Report