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Vijay TV permitted to bring in over Rs 960 crore as FDI for acquiring domestic shareholding
M/s Vijay Television Pvt Ltd has been permitted to bring in Rs 961.74 crore by foreign promoters for acquiring the existing domestic shareholding in the non-news channel business.
The Foreign Investments Promotion Board has however deferred a decision on a proposal by M/s Jeevan Telecasting Corporation Ltd. as the Home Ministry has proposed for revocation of existing approval.
The Finance Ministry on the recommendation of the FIPB has also deferred a decision by M/s P5 Asia Investments Holdings (Mauritius) Ltd. for NR to NR transfer of shares to carry out the business of (a) Broadcasting a non- news and current affairs television channel namely “StarCJ alive” Channel; (b) wholesale cash and carry trading of products; and (c) creation of home shopping content for broadcast through any and all mediums, including the channel, all within India.
Dr A Jawahar Palianappan has been advised that his application for post facto approval for regularization of equity shares does not fall within the purview of the FIPB. The company is engaged in the activity of printing magazines, telephone directories, text books, etc.
Source: Indiantelevision.com > News Headlines > Vijay TV permitted to bring in over Rs 960 crore as FDI for acquiring domestic shareholding
M/s Vijay Television Pvt Ltd has been permitted to bring in Rs 961.74 crore by foreign promoters for acquiring the existing domestic shareholding in the non-news channel business.
The Foreign Investments Promotion Board has however deferred a decision on a proposal by M/s Jeevan Telecasting Corporation Ltd. as the Home Ministry has proposed for revocation of existing approval.
The Finance Ministry on the recommendation of the FIPB has also deferred a decision by M/s P5 Asia Investments Holdings (Mauritius) Ltd. for NR to NR transfer of shares to carry out the business of (a) Broadcasting a non- news and current affairs television channel namely “StarCJ alive” Channel; (b) wholesale cash and carry trading of products; and (c) creation of home shopping content for broadcast through any and all mediums, including the channel, all within India.
Dr A Jawahar Palianappan has been advised that his application for post facto approval for regularization of equity shares does not fall within the purview of the FIPB. The company is engaged in the activity of printing magazines, telephone directories, text books, etc.
Source: Indiantelevision.com > News Headlines > Vijay TV permitted to bring in over Rs 960 crore as FDI for acquiring domestic shareholding
