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Nod to six FDI proposals, JET plan deferred

Friday, 08 Oct 2010
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The Union Government has cleared six FDI proposals totalling to about Rs 5.46 crore. These include proposals of Praxair India, Newedge Broker India, and Zee Entertainment Enterprises.

The government deferred seven proposals including Jet Airways' plan to raise $400 million (approx Rs 1,770 crore) through qualified institutional placement (QIP). A proposal of GMR Airports Holding to raise Rs 960 crore in favour of Mauritius based Macquarie SBI Infrastructure Investments was also deferred.

It also rejected five FDI proposals of CNI Enterprises, Shriram Capital's plan to induct foreign equity and that of Quantium Solutions International.

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