NGC gets FIPB nod

NEW DELHI: NGC Network (India) has got the FIPB (Foreign Investment Promotion Board) nod for uplinking and downlinking television channels through internal accruals without any foreign inflows.

National Geographic had applied to the FIPB to undertake the activity relating to uplink and downlink of channels for non-news and current affairs without any FDI/NRI inflows.

Catvision Limited, Noida has also been permitted to bring in fresh FDI/NRI inflow of Rs 9.8 million to increase foreign equity participation to carry out the business of manufacture of CATV equipment, selling CATV equipment like Dish Antenna, other CATV equipment, cables, energy management equipment and repair of apparatus for television transmission, other business services.
 

The FIPB has, however, deferred consideration of a proposal by DEN Network for induction of foreign investment from unidentified investors. The company is engaged in the business of cable distribution segment and internet services and is acting as operating-cum-holding company.

Meanwhile, Bloomsbury India UK Limited has been permitted to bring in FDI/NRI of Rs 93.8 million to carry out the business of publishing/printing of books on fiction and non-fiction, electronic publishing, wholesale & retail trading, periodicals books, academic, research and other journals and directories, etc.

Another publishing house, Health Media Publishing was permitted induction of foreign equity to carry out the business of publishing magazines and periodical journals in the area of healthcare & overall wellness without any fresh FDI/NRI.

Among the rejected proposal was one from Hey House Publishers for deletion of compounding condition, whereas Palred Media and Entertainment, Hyderabad, withdrew its proposal for post facto approval for induction of foreign equity amounting to Rs 19.1 million.

The company is engaged in the business of film production and distribution of films, cinemas, motion pictures, television entertainment, animation and Internet portals.