January 19, 2017
Show AI Summary
Foreign direct investment approvals include acquisitions and share issuances, while several proposals were deferred or rejected by authorities.
Government approved six FDI proposals across pharma, investing company arrangements and telecom, authorising acquisitions, share issuances, implementation of global non compete covenants, and recognition of increased foreign ownership in a telecom subsidiary. Several distinct proposals were deferred pending further scrutiny of large cross border acquisitions, amalgamation schemes and downstream transactions. Three proposals were rejected for seeking post facto regularisation or inappropriate investing company structures, and two proposals were held not to lie before FIPB due to their subject matter.