The major investment proposal cleared relates to that of Asianet Communications Limited for induction of foreign equity to the tune of Rs 425 crore to undertake the business of broadcasting non-news and current affairs television channels.
The proposal of Star India Holding BV to bring in FDI worth Rs 324 crore to acquire up to 49 per cent share holding stake in TS Investment Limited, who in turn will acquire shares of Tata Sky Limited also got a nod.
Similarly, in the power sector, two FDI projects, a proposal of Jyoti Structures Limited to bring in FDI to the tune of Rs 125 crore through issue of detachable warrants on a right basis to its existing equity shareholder including NRIs and Foreign Institutional Investors and the proposal of AIP Power Private Limited to bring in FDI worth Rs 113 crore were cleared.
Published 19 May 2010, 16:07 IST