The Live Nagpur
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Crime
  • Entertainment & Lifestyle
  • Featured
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary

The Live Nagpur

  • Home
  • Nagpur City
  • Politics
  • Business
  • Nagpur Education
  • Entertainment
  • Nagpur Sports
  • Health
  • Vidarbha
  • Crime
  • Obituary
Nation

Ministry of I&B requests compliance of policy on FDI in digital media within a month

by TLN Team November 16, 2020
written by TLN Team November 16, 2020
Ministry of I&B requests compliance of policy on FDI in digital media within a month

Union Ministry of Information and Broadcasting has today issued a public notice to facilitate eligible entities involved in uploading/streaming of news and current affairs through digital media, to comply with the decision of Union Government on 18th September 2019, which had permitted 26% FDI under Government approval route.

In a Public Notice, available on its website, the Ministry has today laid out the detailed actions to be undertaken by eligible entities to comply with this decision, within a month. Under the notice,

Entities having  foreign investment below 26% may furnish an intimation to the Ministry of Information & Broadcasting within one month from today giving the following:-

(a) Details of the company / entity and its shareholding pattern along with the names and addresses of its Directors / shareholders,

(b) The names and address of Promoters/Significant Beneficial Owners,

(c) A confirmation with regard to compliance with pricing, documentation and reporting requirements  under the FDI Policy, Foreign Exchange Management (Non-debt Instruments) Rules, 2019 and  Foreign Exchange Management (Mode of Payment and Reporting of Non-debt Instruments) Regulations, 2019 along with copies of relevant reporting forms in support of the past/existing foreign investment  and downstream investment(s), if any, and

(d)  Permanent Account Number and the latest audited / unaudited Profit & Loss Statement and Balance Sheet along with the Auditor report.

(ii) Entities which, at present, have an equity structure with foreign investment exceeding 26% would give similar details as at (i) above to the Ministry of Information & Broadcasting within one month from today, and to take necessary steps for bringing down the  foreign investment to 26% by 15th October, 2021 and seek approval of the Ministry of Information & Broadcasting.

(iii) Any entity which intends to bring fresh  foreign investment in the country has to seek prior approval of the Central Government,  through the Foreign Investment Facilitation Portal of DPIIT,  as per the requirements   of  (a) FDI Policy  of Government of India  and  DPIIT Press Note No. 4 of 2019 (dated 18.9.2019)  in this regard  and (b) Foreign Exchange Management (Non-debt Instruments)(Amendment) Rules, 2019 vide Notification dated 5.12.2019.

(iv) Every entity has to comply with the requirements of citizenship of Board of Directors and of the Chief Executive Officers (by whatever name called). The entities are required to obtain security clearance for all foreign personnel likely to be deployed for more than 60 days in a year by way of appointment, contract or consultancy or any other capacity for functioning of the entity, prior to their deployment. For this purpose, the entities will apply to Ministry of Information & Broadcasting at least 60 days in advance and the proposed foreign personnel shall be deployed by the entity only after prior approval of this Ministry.

0 comment
FacebookTwitterLinkedin
TLN Team

previous post
Any attack on press freedom is detrimental to national interests: Vice President
next post
EPFO facilitates multiple options for submission of Digital Life Certificate by EPS pensioners

You may also like

Howrah-Ahmedabad-Howrah special train halted at Bamra

February 27, 2021

Ban on international passenger, commercial flights extended till...

February 27, 2021

Good news, flight tickets to get cheaper if...

February 27, 2021

Yusuf Pathan Announces Retirement From All Forms Of...

February 26, 2021

Govt extends existing COVID-19 guidelines till Mar 31

February 26, 2021

Students of class 6 – 12 to get...

February 26, 2021

Know how to register yourself for COVID vaccine...

February 26, 2021

Car with explosive material found near Ambani’s residence...

February 25, 2021

India beats England with 10 wickets within two...

February 25, 2021

More than 8 crore traders to join ‘Bharat...

February 25, 2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.



Trending News

  • Govt extends existing COVID-19 guidelines till Mar 31

    February 26, 2021
  • Ishara’s Paapnaashini Ganga Title Track Pays Tribute to Goddess Ganga in Kailash Kher’s Voice

    February 26, 2021
  • Bhumi Pednekar and UNESCO Join Whisper®’s mission to #KeepGirlsInSchool

    February 26, 2021
  • Aditya TATA Cars Delivers the 1st TATA Safari

    February 25, 2021
  • Social Media, OTT platforms to take down objectionable unlawful content within 24 hours: Central Govt

    February 25, 2021

Important Links

  • Politics
  • Crime
  • Business
  • Education
  • Entertainment
  • Sports

Available on Playstore & Coming Soon on Appstore

Search

November 2020
M T W T F S S
« Oct   Dec »
 1
2345678
9101112131415
16171819202122
23242526272829
30  

Sign-Up Form

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Footer Logo
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Crime
  • Entertainment & Lifestyle
  • Featured
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary
  • Privacy Policy
  • Disclaimer
  • Cookie Policy
  • Terms Of Use
  • Advertise with Us
  • Work with us
  • Contact Us

© 2020 - The Live Nagpur . All Rights Reserved.