The Delhi high court on Wednesday stayed the trial court proceedings against senior Congress leader P Chidambaram in the Aircel-Maxis case lodged by the Enforcement Directorate.
UK-based Vodafone is not the only one awaiting the Indian government's call on its purchase of stake in Hutch-Essar, US coffee retail giant Starbucks is also anxiously looking for a decision on the issue.
UK's Vodafone is learnt to have approached the Foreign Investment Promotion Board for approval to acquire 52 per cent stake of Hong Kong-based Hutchison Telecom in mobile firm Hutch-Essar and also for investing in telecom activities.
Abu Dhabi-based Etihad Airlines has agreed to halve the number of directors on the Jet Airways Board to two posts under the Rs 2,058 crore deal, giving the Indian promoters 'effective control' of the carrier.
After 11 years of hanging like a sword on PepsiCo India Holdings Ltd, the government's condition that the company must dilute its equity in fully-owned downstream ventures is close to being waived.
Mobile operator Spice Telecom, which is planning to tap the capital market with an initial public offer, has got Foreign Investment Promotion Board's nod for the public issue.
The Foreign Investment Promotion Board is believed to have cleared Zee Telefilms' plan of raising $100 million as foreign currency convertible bonds subject to the condition that the company brings down total foreign shareholding to 26 per cent
Advertising firm Grey India Inc will hold 1,88,260 equity shares of Grey Worldwide (India) as a non-resident shareholder on repatriation basis and has ceased to be an overseas corporate body following an approval from the FIPB.
The proposals, approved by Finance Minister P Chidambaram on the recommendations of Foreign Investment Promotion Board, also included the application of Images Multimedia, which would bring in Rs 33.37 crore (Rs 333.7 million) in the country, according to an official release. NYSE Euronext would infuse Rs 281 crore (Rs 2.81 billion) in India for acquiring 5 per cent equity in Multi-Commodity Exchange. This amount includes premium as well.
Indraprastha Gas on Tuesday said it has obtained the approval of FIPB for transfer of equity shares to non-resident Indians, foreign institutional investors and foreign venture capital funds in its proposed initial public offer.
US-based coffee retail chain Starbucks on Friday said it was withdrawing its application to operate single-brand retail stores in India, thus delaying its entry into the country.
Bloomberg Data Service India's proposal to service media clients in India is believed to have been rejected by the Foreign Investment Promotion Board.
Divestment ministry is believed to have received an in-principle nod from FIPB for participation of FIIs, NRIs, and OCBs in the ensuing public offer government equity in car-maker Maruti Udyog Limited.
Prem Mehta, CMD, Lintas India said both parties had reached a mutual agreement and the case was now awaiting the approval of the Foreign Investment Promotion Board.
Star's application seeking uplinking from India appears to have hit yet another roadblock with the Foreign Investment Promotion Board raising certain queries in its last meeting.
Amid a government scrutiny into the alleged breach of FDI norms by Hutchison Telecom International, the Hong Kong-based firm on Monday asserted its Indian mobile venture Hutch Essar Ltd (HEL) did not violate any regulations.
Banks will be able to give loans to Indian companies for acquiring the entire equity stake or a controlling part of it in domestic or foreign firms as strategic investment that creates long-term value rather than for short-term financial restructuring if the Reserve Bank of India's (RBI's) draft circular, issued on Friday, comes to fruition.
The government has approved a proposal of British luxury apparel brand Burberry to set up a joint venture in India for single brand retailing. The 153-year old company, famous for its high-end apparels, like trench coats and mufflers, plans to tie-up with Gurgaon-based fashion retail house Genesis Colors for setting up single brand exclusive retail outlets.
'...aggressive pricing amid volatility, but these are exceptions.'
In another example of the growing focus on security in the telecom sector, the Foreign Investment Promotion Board has asked whether US-based Verizon Wireless operates in Pakistan, while deferring its proposal for transfer of equity shares.
For the second time since Press Note 2 and 4 were issued in February 2009, the Department of Economic Affairs in the finance ministry has raised questions on their implementation, this time over an application before the Foreign Investment Promotion Board.
The 10.5 billion-euro Italian oil major ENI is entering the Indian lubricants market through a technology transfer agreement with a Mumbai-based firm to manufacture and sell various products.
The government on Friday cleared British telecom firm Vodafone's application for buying a majority stake in India's fourth-largest mobile operator Hutch-Essar Ltd.
The Foreign Investment Promotion Board has expressed dissatisfaction with the replies given by Hutchison Essar, its Hong Kong-based parent Hutchison Telecom International
Opening another line of inquiry into the Hutch-Essar shareholding structure, the Foreign Investment Promotion Board (FIPB) is looking into the call options that would together give Vodafone a further 15.03 per cent proportionate indirect equity owner
The FIPB, headed by Department of Economic Affairs Secretary Arvind Mayaram, discussed 30 foreign direct investment proposals, including 10 from pharma sector.
Electronics major has tied up with Reliance Comm and Tata Tele.
The company, according to industry sources, is hoping to get an FIPB approval before that. Market sources said the sales team has sounded out October 8 as the launch date. Government had earlier asked Bharti group to seek a separate FIPB approval within three months for its upcoming DTH services.
Government is believed to have given the go ahead to cola giant Pepsico to acquire one of its franchisees by bringing overseas funds while making it mandatory on the soft-drink conglomerate to divest 49 per cent equity in the same within five years.
Swedish bus and truck maker Volvo said on Thursday that it would synergise operations in India by bringing a number of units like exports, IT and component outsourcing, construction equipment, and diesel manufacturing under one entity.
