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Our Bureau

New Delhi, Nov 2 The Finance Minister, Mr P Chidambaram, has approved 12 foreign direct investment (FDI) proposals involving investment inflow of Rs 211.66 crore.

The approvals are based on the recommendations of the Foreign Investment Promotion Board (FIPB) in its meeting held on October 26.

Those cleared include the US-based Millennium India Acquisition Company’s proposal to induct foreign equity of Rs 159.92 crore in two non-banking finance companies (NBFCs) having subsidiaries engaged in securities market as stock broker, distribution of mutual fund units, commodity trading/broking, insurance broking and merchant banking.

The application of the Delhi-based Mail Today Newspapers for induction of foreign equity up to 26 per cent in joint venture with Living Media Group, in the field of printing and publishing daily newspapers in English language, also received the approval of the Finance Minister.

The FDI component involved is Rs 18.02 crore.

LFP DSE Ltd, Mauritius proposal to take 5 per cent stake in Delhi Stock Exchange for Rs 10.61 crore also received approval.

Meanwhile, an official release said that 13 proposals, including two from BAG Films, were deferred by the Government.

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