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FIPB: Unitech Wireless FDI Proposal Sent To CCEA; NDTV Lifestyle, Dish TV India & Sprint

Indian Government has approved 18 proposals of Foreign Direct Investment (FDI) valued approximately at 2126.20 crore, based on the recommendations of Foreign Investment Promotion Board (FIPB), according to Press Information Bureau. Among the Internet, Mobile and Media proposals, Unitech Wireless (TN) Pvt. Ltd's proposal of inducting foreign equity to provide unified access services has been recommended for the consideration of Cabinet Committee on Economic Affairs (CCEA), since the proposed investment i.e. Rs 8250 crore is much higher than the threshold limit of FIPB, which currently stands at Rs 1200 crore. Previously Telenor's proposed Rs 3740 crore investment in Unitech Wireless was also referred to the CCEA on the account of going over FIPB's earlier threshold limit of Rs 600 crore. Vodafone Essar Ltd's Rs 2835 crore proposal to transfer of shares from Resident to Non-Resident account to carry out telecommunication activities, which was deferred in July 2011, has also been "recommended for consideration on file", after receiving inputs from departments. Among the companies which has received approvals from the FIPB include the following: NDTV Lifestyle Ltd: Increase in foreign equity up to 100 percent.  The company is engaged in the media industry for up-linking, producing, distributing and broadcasting non-news and non- current affairs TV channels. Dish TV India Ltd: To increase foreign equity to produce telecommunication equipment and provide management and marketing of ‘agrani’ services, i.e. in the area of Mobile Satellite Communications. The company has received an approval for an investment of up to Rs 980 crore. Sprint International Holding Inc., Overland Park, Kansas: Induction of foreign equity into an Indian company to provide wireline-based national long distance, international long distance and…

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