Saturday 28 September 2013

Finance Ministry defers three proposals of FDI in broadcasting sector

The Finance Ministry deferred decision on a proposal by non-resident company P5 Asia Holding Investments, Mauritius, to purchase 50 per cent of the shares in an existing broadcasting company with 100 per cent FDI, from another existing NR investor based on the recommendation of Foreign Investment Promotion Board (FIPB).
The ministry also deferred decision on a proposal by HBO India, New Delhi, to engage in the activities of down-linking non-news and current affairs television channels.

A proposal by INX Music, Mumbai, was also deferred.
INX Music, a company which aggregates and distributes music content for TV channels, having 70.85 per cent indirect foreign investment proposes to undertake the additional activity of broadcasting of non-news and current affairs channels.
As per its meeting held on August 27, 2013, the Central Government has approved 15 proposals of Foreign Direct Investment (FDI) amounting to Rs. 2000.49 crore approximately, a government release 27 September.

Source:
http://cablequest.org/news/national-news/item/3297-finance-ministry-defers-three-proposals-of-fdi-in-broadcasting-sector.htmlSource: http://cablequest.org/news/national-news/item/3297-finance-ministry-defers-three-proposals-of-fdi-in-broadcasting-sector.html

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