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Finance Ministry defers three proposals related to FDI in broadcasting sector

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New Delhi: The Finance Ministry today deferred decision on a proposal by non-resident company P5 Asia Holding Investments, Mauritius, to purchase 50 per cent of the shares in an existing broadcasting company with 100 per cent FDI, from another existing NR investor.



On the advice of the Foreign Investments Promotion Board, the ministry also deferred decision on a proposal by HBO India, New Delhi, to engage in the activities of down-linking non-news and current affairs television channels.



A proposal by INX Music, Mumbai, was also deferred.



INX Music, a company which aggregates and distributes music content for TV channels, having 70.85 per cent indirect foreign investment proposes to undertake the additional activity of broadcasting of non-news and current affairs channels.

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