Government defers decision on 7 FDI proposals

Government deferred decision on 7 proposals received for FDI. The proposals include M/s Kirkstone India Pvt. Ltd., Delhi to issue shares against the pre-incorporation expenses. M/s India Infrastructure Development Fund Ltd., Mauritius, Mauritius proposal to issue units to FUND. M/s Visa Infrastructure Ltd., Kolkata to issue shares for consideration other than cash.

The proposal of M/s Telstra Telecommunications Pvt. Ltd., Mumbai to issue fresh equity shares for increasing FDI from 49% to 74% in a company engaged in the telecom services. M/s Bharat Oman Refineries Ltd. (BORL) to amend the FC approval. M/s Verizon Communications India Pvt. Ltd. to transfer the equity shares from non-resident shareholder to non-resident group in Telecom Sector. M/s Telcordia Technologies Inc. USA to review the proposal on the request of MH.

Source : Equity Bulls

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