Total was given the green signal to buy the entire stake of Anand Pvt Ltd in their joint venture Total Lubricants India Ltd, but, with a rider that it would divest 26 per cent within five years, FIPB sources said.

Total would bring in Rs 8 crore to increase its stake in the joint venture, which is engaged in the manufacture of lubricants, from the existing level of 51 per cent to 100 per cent.

The FIPB has also approved Hindustan Petroleum Corporation's (HPCL) proposal to increase the area of activities in its two joint ventures with Total SA to include liquefied natural gas (LNG) terminals, downstream petroleum infrastructure and marketing of liquiefied petroleum gas (LPG) and other petroleum products. There would be no additional foreigninvestment involved in this venture, FIPB sources said.

Carrier has been to buy the 12 per cent stake of two overseas corporate bodies in Carrier Refrigeration Pvt Ltd, an entity manufacturing commerical refrigeration products. With this buy out, the American company's stake in the local company would go up from 88 per cent to 100 per cent. Sources said Carrier would purchase the holdings of Taza Holdings Inc of the US and Global International of Mauritius for Rs 8 crore. The venture manufactures commercial refrigeration products.

The board has, however, defered decision on proposals by Swatch, IDG Books Worldwide and Denso-Kirloskar.

The Germany-based Centre for Medical Innovation has been given the go ahead to bring in Rs 14.25 crore to set up a wholly-owned subsidiary in India for producing plant derived pharmaceutical products. The approval is subject to bio-tech and environmental conditions.

Macquarie Corporate Finance Ltd of Australia is setting up a 50-50 joint venture by infusing Rs 2 crorewhile the Centre for American Education is bringing in Rs 11 lakh to pick up 50 per cent stake in a joint venture for providing in-house and corporate training.

In the software and electronics sector, Aarvee Information Systems is setting up a software development unit under the Software Technology Park scheme by bringing in Rs 20 crore. The project would be a joint venture between a US-based company and 11 Mauritius-based companies.

The other proposals approved in the segment include BC Components of Netherlands and R Systems India Private Ltd.

Fremantle TV India Production Ltd has been allowed to buy out the 49 per cent holding of its Indian partner -- Purab Paschim India Pvt Ltd for Rs 1 crore. With this, the Indian venture would become a wholly-owned subsidiary of Fremantle.