| 22 May 2024
Govt. defers decision on merger of 9X Jhakaas Marathi Channel into M/s INX Music Pvt Ltd.

NEW DELHI: The Finance Ministry has deferred a decision on a proposal by M/s Insight Media City (India) Pvt. Ltd. for uplinking and down linking of General Entertainment Channel (Non-News Category) and uplinking and down linking of News and Current Affairs Channel (News Category).

Following the recommendations by the Foreign Investments Promotion Board, the Ministry also deferred a decision on the proposal under which the 9X Jhakaas Marathi Channel will be merged into M/s INX Music Pvt Ltd.

M/s INX Music Private Limited has 70.85 per cent indirect foreign investment and proposes to undertake the additional activity of broadcasting of a non-news and current affairs channels in various Indian languages.

The decision was also deferred on a proposal by M/s India Value Fund IV (IVF IV) for making downstream investment in companies engaged in ISP and Multi Subscriber Operator (MSO) activities.

M/s Chorus Call INC, USA will also have to wait as the FIPB deferred its proposal for increase in the foreign equity from 74 per cent to 100 per cent in M/s Chorus Call Conferencing Services India Private Limited engaged in providing services like transmission of voice, video and data.

FIPB also deferred a decision on M/s Thaicom Public Company Limited proposal for incorporating a WoS for providing leasing of satellite space for video broadcasting DSNG, VSAT services.