Sunday, November 15, 1998
FIPB clears Rs 1,500cr plans; Mercedes gets nod
The Foreign Investment Promotion Board (FIPB) cleared 30 foreign direct investment (FDI) proposals worth Rs 1,500 crore on Saturday which included projects of Ispat Telecom, AES Power and Mercedes Benz.
DGFT spikes Skoda plea on indigenisation
The Directorate General of Foreign Trade (DGFT) has turned down the application of Skoda Automobilova A.S. seeking 70 per cent indigenisation in over 10 years. The DGFT told Skoda Auto, part of the Volkswagen group, that "no relaxation of the automobile policy can be made".
JCT seeks Knight Frank help to sell city office
Leading property consultants Knight Frank has been given the mandate for finding out a buyer for MM Thapar-controlled JCT Ltd's corporate office in Mumbai. The company has earlier announced that the corporate office in Mumbai will be put on the block as part of a larger restructuring exercise.
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