While there is no inflow of capital, Mobile advertising company InMobi has received an approval from India's Foreign Investment Promotion Board to allow, according to a statement, "Transfer of shares by way of share swap to carry out the business of Developing software and licensing it to Advertising Network related business." When contacted by MediaNama, InMobi founder and CEO Naveen Tiwari was non-committal, saying only "next week" in response. In case you know, do contact nikhil@medianama.com Other Internet, Media and Mobile approvals from the FIPB include the following: Big Showbiz Broadcast Ltd: Induction of foreign equity and conversion of operating company into an operating cum investing company to invest, from time to time, in other companies engaged in, or proposing to engage in, up-linking and down-linking of non-news and non-current affairs television channel and/or related activities. The company has received an approval for an investment of up to Rs 79.14 crore. Ortel Communications Ltd: To issue equity shares to NR to the extent that the foreign shareholding in the company post the issue shall remain within the ceiling of 49% of its paid equity share capital. The company is engaged in the business of building hybrid fibre coaxial (HFC) communications network to provide a range of telecom value added services such as High Speed Internet Access, Cable Television and Basic Telephony, E-Commerce, and Video Conferencing. G+J International Magazines GmbH, Germany: To increase foreign equity percentage to carry out the business of publication and sale of speciality and life style magazines. A foreign…
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