Govt approves 11 FDI proposals worth 1.83 bln rupees
REUTERS – The government has approved eleven foreign direct investment proposals (FDI) worth about 1.83 billion rupees, and deferred nine others, the government said in a statement on Monday.
The government has also recommended three proposals to the Cabinet Committee on Economic Affairs, including one by Walt Disney Company seeking to raise foreign shareholding to up to 100 percent from 48.02 percent, the statement said.
In July this year, Walt Disney, the largest shareholder in UTV Software Communications, proposed to buy most of the shares it does not already own in the company and delist them from all bourses.
(Reporting by Aniruddha Basu; Editing by Harish Nambiar)
Article source: http://feeds.reuters.com/~r/reuters/INbusinessNews/~3/d4QEvBmJloA/idINIndia-59807420111010
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