Technology

Dish TV gets FIPB nod to raise Rs 9.8 bn

NEW DELHI: The Government has permitted Dish TV India to increase foreign equity to the extent of Rs 9.8 billion. The leading direct-to-home company had sought permission to raise funds to produce telecommunication equipment and provide management and marketing of ‘agrani‘ services in the area of Mobile Satellite Communications.


Indiantelevision was first to report that the company is looking to raise $200 million from overseas investors.


Meanwhile, NDTV Lifestyle Ltd has been permitted to increase in foreign equity up to 100 per cent. The company is engaged in the media industry for up-linking, producing, distributing and broadcasting non-news and non- current affairs TV channels. This will not involve any additional FDI. 
 
The decisions are based on the recommendations of the Foreign Investment Promotion Board (FIPB) in its meeting held on 15 November, 2011.


The scheme of merger relating to Cyquator Media Services, a company engaged in the business of providing back-end information technology services and sale of advertisement space in various modes of media, has been deferred.


The proposal of Omnimedia to amend the Clause 2 of the FC approval to undertake the business of publishing/ printing of scientific and technical magazines/ specialty journals/ periodicals in the name and style of "Energetica-India" and circulation of its digital version has also been deferred.


The Finance Ministry has also deferred the proposal by Springer Editorial Services to increase foreign equity up to 100 per cent to carry on the business of publishing services, content, development, content management, content outsourcing, providing a comprehensive service including data conversion, editorial services, pre-press, press, pre-media services, digital communication services, data based management, digitization services, data based engineering. 
 
Another proposal deferred was by Reed Elsevier India to undertake the additional activity relating to the business of publishing and co-publishing (in and outside India), including digital publishing, printing, reprinting, adaptation, article reprinting, repackaging, translation, distribution of scientific, technical, medical, specialty and research journals/magazines/periodicals in any media including print media.


The Ministry rejected the proposal by Indusind Media and Communication (IMCL) for conversion of CNCRPS. The company is engaged in the business of cable network distribution.


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