"FIPB have approved the above increase i.e. from 49 percent of its issued and fully paid up share capital under the automatic route to 74 percent of its issued and fully paid up share capital...under Portfolio Investment Scheme vide its letter dated August 03, 2015," Hathway Cable and Datacom informed BSE.
Mall developers have been waiting for the government to open up the retail sector to more foreign direct investment. They say this will help them get a better mix on brands to attract foot-falls. CNBC-TV18's Nikita Rana reports that this will not mean an increase in rentals.
The land dispute between Nusli Wadia and the Raheja Group over 600 acre of prime property in Malad, Mumbai as been simmering for some time now. After tasting defeat earlier, there was some legal relief for the Rahejas today at the Bombay High Court.