Sun TV to issue 20 % equity to SAHEL

Saturday, March 17, 2007, 22:02 [IST]

New Delhi, Feb 22 (UNI) Tamil Nadu-based M/s Sun Direct TV Private Limited was allowed today to issue equity shares of only upto 20 per cent of the total subscribed and paid up capital of the company, amounting to around 150 US million dollars (around Rs 675 crore), to the South Asia Entertainment Holdings Limited (SAHEL), Maurities.

Finance Minister P Chidambaram told mediapersons the decision to this effect was taken at the Cabinet Comittee on Economic Affairs (CCEA) meet and the approval would be subject to guidelines issued by the Ministry of Information and Broadcasting (I&B).

He said the move would generate a revenue of 50 US million dollars in the form of Foreign Direct Investment (FDI).

UNI

Topics: CABINET-SUN TV-SAHEL

Other articles published on March 17, 2007

UP Election may necessitate changes in Parliament sittings

Saturday, March 17, 2007,22:02 [IST]

New Delhi, Feb 22 (UNI) The UP assembly election may necessitate readjustment of the Lok Sabha sittings to enable leaders of various political parties to participate in the campaign, Lok Sabha Speaker Somnath Chatterjee said today. Talking to newspersons after an all-party meeting convened by him on the eve of the Budget Session of Parliament, Mr Chatterjee said the dates of Railway Budget, and General Budget would remain as February 26 and February 28 respectively, and there would not reduction in.....

New north east industrial policy referred to GoM

Saturday, March 17, 2007,22:02 [IST]

New Delhi, Feb 22 (UNI) The Cabinet Committee on Economic Affairs (CCEA) today referred to a Group of Ministers (GoM) the much-awaited new north Eastern Industrial Policy (NEIP-2007). The GoM has been requested to submit its report as early as possible as the exisiting policy will come to an end by March. The new policy will take shape by April 1, 2007, Finance Minister P Chidambaram said after the CCEA meeting here. Union Minister for the Development of North Eastern Region.....

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Traders protest as Wal-Mart Chief arrives in India

Saturday, March 17, 2007,22:03 [IST]

New Delhi, Feb 22 (UNI) Traders and small retailers in the national capital today gathered to strongly voice their protest against the entry of retail giant Wal-Mart, as the company's Vice Chairman Mike Duke arrived in Mumbai. Over 100 protesters waving banners ''Save Small Retailers'' and shouting slogans ''Go Back Wal-Mart, Long Live Justice'' marched on government buildings here. Some broke through police barricades and burnt an effigy representing Wal-Mart. The trade union will again hold protest demonstrations at the.....

India bans transfer of nuclear technology to Iran

Saturday, March 17, 2007,22:03 [IST]

New Delhi, Feb 22 (UNI) In compliance with the UN Security Council resolution passed last year, India has prohibited export of any material and technology to Iran that could contribute to its nuclear weapons and delivery systems. The Directorate-General of Foreign Trade (DGFT) said in a notification that "direct or indirect export and import of all items, materials, equipment, goods and technology which could contribute to Iran's enrichment-related, reprocessing or heavy water related activities, or to the development of nuclear weapon.....

Electric locomotive factory to be set up at Madhepura

Saturday, March 17, 2007,22:03 [IST]

New Delhi, Feb 22 (UNI) A greenfield high horsepower electric locomotive factory will be set up at a cost of Rs 1294 crore at Madhepura in Bihar, once the parliamentary constituency of Railway Minister Lalu Prasad. This was announced by Finance Minister P Chidambaram after a meeting of the Cabinet Committee on Economic Affairs (CCEA), presided over by Prime Minister Manmohan Singh. After becoming operationalised, it will produce 120 electric locomotives of high horsepower annually. Railway Ministry sources said these.....