FDI guidelines in news, current affairs publications issued

NEW DELHI: The government has issued guidelines for permitting 26 per cent foreign direct investment (FDI) in news and current affairs publications in a venture subject to the condition that the largest Indian shareholder controls at least 51 per cent equity in the company.

This 51 per cent equity is exclusive of that held by public sector banks and financial institutions and of the total FDI envisaged in any joint venture at least 50 per cent will have to be inducted by issue of fresh equity, an official statement said here. The balance 50 per cent can be from the existing equity base of the company.

Foreign holding component in the equity of the Indian shareholder companies will be duly reckoned on pro rata basis to arrive at the total foreign holding in the company while calculating the 26 per cent FDI in equity of the company. The guidelines further stipulate that at least 75 per cent of the directors and all key executives and editorial members of the company should be resident Indians.

According to the guidelines, it is obligatory on the part of the Indian company to take prior permission from the ministry of information and broadcasting before changing the foreign shareholding pattern of the company and the shareholding of the largest Indian shareholder.

While rejecting the idea of a golden share, the government has said that the applicant and the new entity has to make full disclosure, at the time of application, of shareholders agreements and loan agreement that are finalised or proposed to be entered into. Any changes in these have to be disclosed to the ministry of information and broadcasting within 15 days.

The new entity framing its articles and memorandum of association has to ensure compliance with these norms. Besides as a measure to check the credentials of the foreign equity partner, the Indian company is required to inform the names and details of all the non resident Indians who are to be inducted in the boars of directors of the company

The Indian company is also required to inform the names and details of any foreign nationals and non resident Indians to be employed and engaged in the company as consultants or in any other capacity for more than 60 days in a year as regular employees.

All the proposals for FDI in Indian companies publishing news and current affairs publications shall be processed and decided by the information and broadcasting ministry in consultation with the home ministry and other ministries.

Latest Reads
No changes in Marathi, Telugu segments in BARC data week 2

In the Bengali market, Jalsha Movies and Aakash Aath interchanged their fourth and fifth positions in BARC data week 2. Bhojpuri Cinema and Big Ganga swapped their first and second position in the Bhojpuri space. Zee Kannada and Colors Kannada swapped their first and second positions in the Kannada...

Television TV Channels Viewership
Dettol topples Trivago from top spot in BARC week 2 of 2019

The Broadcast Audience Research Council (BARC) India has released its data for top advertisers and brands for week 2 of 2019.

Television TV Channels Viewership
Four news genres saw no change in BARC week 2

All the four genres apart from Hindi news urban market saw no change in second week of the year. Aaj Tak continued to groove on the same tracks in the rural, urban and U+R genres as it did the previous year. India TV and News18 India interchanged their positions in the Hindi news urban market.

Television TV Channels Viewership
Sony Entertainment Television leads urban areas in week 2 of BARC

Sony Entertainment Television jumped to second position to fifth position as compared to the previous week in the Hindi (U+R) genre in Broadcast Audience Research Council (BARC) data for week 2 of 2018. Zee Anmol retained its first position in the rural market. Sony Entertainment Television and...

Television TV Channels Viewership
Aaj Tak becomes the world’s first News Channel to be awarded YouTube’s ‘Diamond Play Button’

India’s No.1 news channel Aaj Tak creates history yet again! The prestigious ‘Diamond Play Button’ bestowed by YouTube, recognises Aaj Tak as the global no.1, the first and the only news channel in the world to have crossed the 10 Million Subscriber mark.

Television TV Channels News Broadcasting
News18 India launches campaign; asserts channel’s leadership

News18 India, Network18’s general Hindi news channel, recently launched a campaign with a humorous and quirky film to drive home its leadership position in the crucial primetime band in the highly competitive Hindi TV news segment.

Television TV Channels News Broadcasting
Join Drac’s Pack on their cruise as &flix presents its next #FlixFirstPremiere ‘Hotel Transylvania 3: Summer Vacation’

It is seldom that you get to see the hilarious side to a monster trying to get himself a date with the help of a technological app like Siri! Have you ever seen a monster film that is full of fun, frolic, laughter, romance and adventure?

Television TV Channels English Entertainment
9XM On Stage with Salim Sulaiman

To celebrate the Republic Day week, 9XM - India’s most popular Bollywood music destination announces the launch of 9XM On Stage a splendid musical night created in honour of the Indian Armed Forces.

Television TV Channels Music and Youth
Prime Focus joins hands with Pritam and Kwan to create JAM8

Integrated media services company Prime Focus Ltd has announced its collaboration with Jam8, a musical platform founded by Indian music composer/director Pritam, and KWAN, a talent management company to serve as a 360-degree creative solution provider for the M&E industry.

Television Production House Film Production

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories