NEW DELHI: The Finance Ministry today deferred decision on three proposals related to Foreign Direct Investment (FDI) in the broadcast sector based on recommendations of Foreign Investment Promotion Board (FIPB) .
First was a proposal of P5 Asia Holding Investments (Mauritius) Mauritius, to purchase 50 percent of the shares in an existing broadcasting company with 100 percent FDI, from another existing NR investor.
The second proposal to be deferred was put up by Mumbai based INX Music, Mumbai which aggregates and distributes music content for TV channels. Having 70.85 percent indirect foreign investment, it had proposed to undertake the additional activity of broadcasting of non-news and current affairs channels.
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Third on the list is Delhi based HBO (India), proposal to engage in the activities of down-linking non-news and current affairs television channels.
As per its meeting held on August 27, 2013, the Central Government has approved 15 proposals of Foreign Direct Investment (FDI) amounting to Rs. 2000.49 crore approximately, a government release 27 September.
