The Hindu Business Line : CDP among 17 FDI clearances

CDP Holdings (India) Ltd's proposal to buy out 100 per cent stake in UTV Software Communications Ltd involving foreign direct investment (FDI) worth Rs 58.5 crore and Ess Technology Inc's proposal to acquire 72 per cent stake in MosChip are among the FDI proposals cleared by the Government today.

A total of 17 proposals involving FDI worth Rs 87 crore were cleared by the Minister for Commerce and Industry, Mr Murasoli Maran, today following recommendations made by the Foreign Investment Promotion Board (FIPB).

The FDI proposals okayed by the Minister include the proposal of Film Finance Inc's plan to open a joint venture company with 74 per cent foreign equity to issue completion bonds for film production. Geologist Ltd's plan to convert its loan from the parent company into equity resulting in foreign investment inflow to the tune of Rs 8.08 crore.

Send this article to Friends by E-Mail

Stories in this Section
Dumping charge on PET -- Futura Polymers gives undertaking to EU

Chambers positive on TN Budget proposals

TN Budget: Industry welcomes proposals

TN Budget -- But not all see it that way

Anti-dumping duty on caustic soda imports

`Colour TVs, ACs to drive consumer durables sector'

Rs 840-cr credit outlay for Dakshina Kannada district

Kerala: Panel go-ahead for external aid

Greenpeace flays Govt's go-ahead to Bt cotton

Market complex in Aluva

Naik to take up petroleum product pricing with Sinha