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INDIA BUSINESS WORLD - APRIL 1st - APRIL 15th - 2008


THIRTEEN FDI PROPOSALS WORTH RS 657 CRORE GET APPROVAL

The government has cleared 13 foreign direct investment proposals worth Rs 657 crore, including an investment of Rs 199 crore by Goldman Sachs. The proposal of the US company is for subscribing to preferential equity shares and compulsorily convertible preference shares. The company is engaged in nonbanking financial activities. Zoom Entertainment Network’s proposal to bring in Rs 120 crore through induction of foreign equity has also got the approval.

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