SME Times News Bureau | 20 May, 2010
The government Wednesday cleared 24 foreign investment proposals, including those of media company Asianet and broadcasting firm Tata Sky, worth Rs.1,412 crore.
Asianet's proposal worth Rs.425 crore is on induction of foreign equity to undertake the business of broadcasting non-news and current affairs television channels.
Global media magnate Rupert Murdoch-controlled Star India holdings is making an investment of Rs.324 crore to acquire shares of direct-to-home (DTH) provider Tata Sky.
Another major proposal is by AIP Power to set up power plants either directly or indirectly by promotion of joint ventures at an investment of Rs.113 crore.
Sixteen proposals have been deferred, while four have been rejected.
Among the rejections is the proposal by Jaipur IPL Cricket Pvt. Ltd, which owns the franchise Rajasthan Royals.
