Thursday 20 June 2013

Vijay TV to induct bring in over Rs 961.74 crore as FDI for acquiring domestic shareholding

FIPB has approved an investment of RS 961.74 by foreign promoters for acquiring the existing domestic shareholding in the non-news channel business of M/s Vijay Television Pvt Ltd.
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.

Source:
http://cablequest.org/news/national-news/item/2621-vijay-tv-to-induct-bring-in-over-rs-961-74-crore-as-fdi-for-acquiring-domestic-shareholding.htmlSource: http://cablequest.org/news/national-news/item/2621-vijay-tv-to-induct-bring-in-over-rs-961-74-crore-as-fdi-for-acquiring-domestic-shareholding.html

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