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18 FDI plans get nod

Last Updated 23 July 2010, 15:50 IST

The Centre also rejected 10 others from companies like Mahindra & Mahindra, INX Media and Telcordia Technologies, the finance ministry said in a statement.

The ministry has also deferred as many as 21 proposals including Wipro’ s defence-related business.

The other major proposals deferred include several media and IT companies like Zee Entertainment Enterprises, Jagaran Media Network, UTStarcom India Telecom and Verizon Communications.

The other proposals cleared include Rs 1,932-crore proposal from Transcend Infrastructure for acquiring 100 per cent equity in Essar Telecom Infrastructure.

The Rs 125-crore proposal from Frigorifico Allana, GETIT Infoservices’ Rs 96 crore plan to increase foreign equity and undertake additional activity in publishing.

Other proposals cleared include Nisarg Building Art & Technology (Rs 51.81 crore), Turquoise Metals & Electricals (Rs 10.36 crore), Modi Naturals (Rs 7.92 crore), NTT Communications Corporation (Rs 7.4 crore), McNally Sayaji Engineering (Rs 6.23 crore) and Telstra (Rs 5.54 crore).

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(Published 23 July 2010, 15:50 IST)

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