THE government has approved 26 foreign direct investment proposals that
will bring in Rs 1,042.91 crore into the country. NEO Sports
Broadcastingâ€™s plan to invest Rs 258.53 crore is among the proposals
approved on the recommendation of FIPB.
Neo Sports Broadcastingâ€™s FDI will be in uplinking and broadcasting â€œnonnews and current affairsâ€ television channels. The company will issue fresh equity or equity-linked instruments to bring in the foreign fund as per a proposal cleared by the government.
A proposal from NSK Holdings to pump in Rs 214.49 crore to make downstream investment has been cleared, while Samvardhana Motherson Financeâ€™s plan to invest Rs 208.53 crore to increase equity participation also got approval. John Deere Construction will bring in Rs 84 crore to set up a joint venture to carry out the manufacturing, marketing and distribution activities.
However, the government has rejected three proposals, including that of Bank of Nova Scotia of Canada, which was to undertake wholesale trading and hedging in precious metals. It also rejected a proposal by MD Group Canada, which wanted to invest in the hospitality sector. The government has also deferred nine proposals, including that of HP India Holdings Mauritius, for setting up a joint venture in the hotel industry across India.
Every time an offender stealthily leaves India to take refuge in another country, the Government of India starts all over again with its strategy of bringing him back to the nation to make him stan More
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