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TV Today board raises foreign investment limit to 26%
MUMBAI:
The
board
of
TV
Today
Network
has
approved
the
increase
in
foreign
investment
limit
by
Foreign
Portfolio
Investors
(FPI)
and
Foreign
Institutional
Investors
(FII)
up
to
26
per
cent
and
by
non-
resident
Indian
(NRI)
up
to
24 per cent of the paid-up capital of
the company.
However, this will be subject to the
maximum permissible limit of 26 per
cent of the paid-up capital of the
company, under the Portfolio
Investment Scheme pursuant to FEMA
(Transfer or issue of Security by a
person resident outside India)
Regulations, 2000 ('FEMA
Regulations') and approval of Foreign
Investment Promotion Board (FIPB).
Additionally, the FIBP approval should
be in accordance with the revised
uplinking guidelines for news and
current affairs channel by the
Ministry of Information &
Broadcasting, Government of India
and other applicable laws.
The network informed the same to the
Bombay Stock Exchange (BSE), saying
that the infusion of foreign
investment would be subject to the
shareholders’ approval.
http://www.indiantelevision.com/televisi...-26-150720
ANIL G
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