By IANS,
New Delhi : The government Tuesday cleared 10 foreign direct investment (FDI) proposals worth Rs.1,123 crore ($230.5 billion), including one by DishTV to raise Rs.750 crore through convertible bonds.
Vijay Mallya-promoted United Breweries’ proposal to issue convertible warrants worth Rs.219 crore also got the Foreign Investment Promotion Board’s (FIPB) approval.
However, nine proposals have been deferred, including those of two telecom companies – Unitech Wireles and ByCell Telecommunication — on security concerns.
The proposal from Forum Synergies (India) Fund Managers has been referred to the Cabinet Committee on Economic Affairs (CCEA) as the investment plan involved proposals worth over Rs.600 crore.