| NEW
DELHI: Zee Entertainment Enterprises Ltd. has been allowed by the Finance Ministry
to transfer fully paid equity shares to an overseas entity belonging to the promoters
Group for uplinking a non-news and current Affairs TV channel. However,
a Finance Ministry release said this does not involve any fresh inflow of foreign
direct investment (FDI).
UTV Software Communications Ltd. has been permitted to increase its share holding
from 75 per cent to 85 per cent by purchase of equity shares and to amend the
FC approval letter. This
will not involve any fresh FDI inflow. Following
the recommendations of the Foreign Investment Promotion Board (FIPB) in its meeting
held on 10 July, the Government has permitted Interpublic Mauritius Ltd, Mauritius,
to make investment of 50 per cent equity by way of subscribing to equity shares,
involving foreign investment of Rs 7.5 million. The
Ministry deferred a proposal by Dish TV India Ltd. to issue convertible bonds,
convertible into equity shares at a ‘conversion price’ as specified
in an offering circular in relation thereto and on terms and conditions mentioned
thereunder, to such persons resident outside India, as may be permissible under
the applicable laws. | 
