The agreement between the two has a long stop date clause, stipulating that all approvals be secured by then.
His father, P Chidambaram, said he will return after a few days.
FDI in drugs and pharmaceuticals was $487 million during April-August 2012, according to the latest data of the Department of Industrial Policy and Promotion.
Chidambaram's son Karti has been questioned twice by the ED in this case.
The ED had filed the first chargesheet in the case against Chidambaram's son Karti; later, a supplementary chargesheet was also filed against him.
The government has cleared 19 foreign investment proposals, including that of Walt Disney Company and Reckitt Benckiser (India), entailing total investment of Rs 2,326.72 crore (Rs 23.26 billion).
Currently, 100 per cent FDI is permitted in brownfield pharma firms through clearance from the Foreign Investment Promotion Board.
No reason was cited for rescheduling of the meeting.
The Foreign Investment Promotion Board (FIPB) on Friday deferred a decision on Rs 2,000-crore (Rs 20 billion) Jet-Etihad deal, the largest foreign investment in the Indian aviation sector, and sought clarity on control and ownership.
The auto major is not just looking at domestic sales, but also planning to ramp up exports to key markets from here, like the Middle East, North Africa and Australia.
Three suspected associates of Karti --Bhaskar Raman, Ravi Vishwanathan and Mohanan Rakesh -- are also being questioned
The FIPB rejected two proposals -- Nigeria's Mokeme Chiwetal Izuchukwu and Lanarth Developers Pvt Ltd.
The ministry of corporate affairs has raised questions on Etihad's rights to nominate three directors on the board and, despite being a minority shareholder in the company, decide on the vice-chairman.
Etihad to have 2 directors even if it dilutes stake to 15%
FDI in the defence sector during 2000-2014 has been a meagre $4.94 billion, despite the total FDI flow into the country across sectors standing at $321.81 billion.
With the FIPB giving approval to the Tata-Singapore Airlines joint venture to start a full-service carrier, Tata Group Chairman Emeritus Ratan Tata on Friday met Commerce and Industry Minister Anand Sharma.
"As FM, I granted approval in the normal course of business," he said in a statement.
Govt likely to make security clearance mandatory for telcos irrespective of equity holding before giving licences; DoT members to meet today.
Retail giant Tesco will make foray into Indian retail market as it has signed an agreement with Tata Group-led Trent.
The CBI has asked Karti to appear before it on October 4.
The HC asked him to furnish a bail bond of Rs two lakh and a surety of like amount.
"I will address a press conference tomorrow. I am happy that the Supreme Court passed the order granting bail," added Chidambaram.
Karti granted interim protection from arrest till July 10 .
The Finance Ministry further said decision on seven FDI proposals has been deferred.
Eight FDI proposals worth Rs 1,311.54 crore (Rs 13.11 billion), including that of Norwegian telecom firm Telenor, have been cleared by the government on the basis of FIPB approvals.
The 15 proposals were cleared following recommendations by Foreign Investment Promotion Board.
Apart from INX Media and Aircel-Maxis, the four other firms which are under the scanner are Diageo Scotland, Essar Steel, Katara Holdings and Elforge Ltd. These firms were granted FIPB approval when Chidambaram was the FM, reports Shrimi Choudhary.
'...you evaluate three key factors before committing your money.'
The CBI suspects that Chidamabaram and his son Karti also received kickbacks from other companies.
The Singapore subsidiary of the UK-based GlaxoSmithKline plans to buy 24.33 per cent stake or 2.06 crore equity shares in GlaxoSmithKline Pharmaceuticals Ltd through an open offer.
The Cabinet on Thursday approved 49 per cent foreign investment in insurance companies through the Foreign Investment Promotion Board route ensuring management control in the hands of Indian promoters.
Last fortnight, State Bank of India Chairman C S Setty lifted the veil on a subject long spoken of in corporate corridors: Why can't our banks finance mergers and acquisitions (M&As)? Change is in the air: Indian Banks' Association (of which Setty is the chairman) is to "make a formal request" to Mint Road to make way for it. Thus far the exclusive turf of foreign banks even though its funding remains offshore - as in, it's not on these entities rupee-book (and a few select shadow banks) - a most lucrative segment in the investment banking suite, M&As, will be homeward-bound.
The case relates to alleged violation of norms by directors of the aviation company for relaxation of 5/20 rules to get licenses for international operations
Tesco proposal entailing investment of $110 million has been cleared, sources said after the FIPB meeting held in New Delhi.
FIPB has deferred 18 proposals.
Shares of Ranbaxy Lab and Sun Pharma on Tuesday gained as much as 4 per cent after the drug-makers got CCI's approval for their long-pending $4-billion merger.
Reliance Group Chairman Anil Ambani on Tuesday appeared before the Enforcement Directorate here for questioning in a money laundering case linked to alleged multiple bank loan fraud cases worth crores of rupees against his group companies, official sources said.
The long-pending Jet-Etihad deal envisaging foreign investment of Rs 2,058 crore will come up before Foreign Investment Promotion Board (FIPB) for approval on July 29.
Torrent Pharmaceuticals' Rs 3,000 crore proposal for increasing FII investment limit to 35 per cent was the biggest in terms of value
