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INDIA
BUSINESS WORLD -
JANUARY 2006
THE MONTH THAT WAS
26% FDI IN UPLINKING FOR NEWS CHANNELS CLEARED
The government has permitted 26% foreign direct investment (FDI) in uplinking of TV channels in the news category and 100% for non-news channels. It has also allowed 49% FDI for setting up-linking hub and teleports, reports FDI up to 100% would be allowed with prior approval of the government for up-linking a non-news and current affairs TV channel,” a government statement said. FDI, including investment by FIIs up to 26%, would be permitted with prior approval of the government for up-linking a news and current affairs TV channel, it added. The government has made it conditional that portfolio investment in the form of FII and NRI deposits shall not be persons acting in concert with FDI investors as defined by Sebi. The company permitted to uplink the channel would also require to certify the continued compliance of these requirements through the company secretary at the end of the financial year.
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