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Our Bureau

New Delhi , March 26

THE Government today cleared IndusInd International Holdings Ltd's proposal to invest Rs 16.90 crore in the company's Indian operations to acquire shares of IndusInd Bank from the secondary market.A total of 34 FDI proposals worth Rs 30.98 crore were cleared by the Minister for Finance and Company Affairs, Mr Jaswant Singh.Nico J Morgan's proposal to invest Rs 4 crore in Jay Gee Fashion Private Ltd was also approved by the Minister.

Network Digital Distribution Services' plan to acquire 20 per cent stake in Space TV Private Ltd too was okayed.Hitachi Construction Machinery Co Ltd's plan to increase its stake in Telco Construction Equipment Co Ltd involving FDI inflow of Rs 2 crore also received the go ahead from the Minister.

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