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UTV among 20 FDI proposals cleared
The Government on Tuesday cleared 20 foreign direct investment proposals worth Rs 1,962.05 crore, including Rs 924-crore proposal of UTV Software Communications Ltd.
PSA India Pte Ltd, Singapore's Rs 240-crore FDI proposal for induction of foreign equity up to 49 per cent by way of preferential allotment of compulsorily convertible preferential shares, has also been approved on Tuesday.
The Government has also given a green signal to the Rs 300-crore FDI proposal of Mauritius-based GS Strategic Investment Ltd for induction of foreign equity up to 20 per cent in a company engaged in commodity broking, besides other activities.
It has also approved Hathway Cable and Datacom Pvt Ltd proposal for "induction of foreign equity in a company engaged in Cable TV services".
However, eight FDI proposals have been deferred, including that of Singapore-based Delight Investments, Sumitomo Heavy Industry, Meta Telecom, and Aster Infrastructure.
