The Indian government has approved 21 proposals of Foreign Direct Investment (FDI) valued approximately at Rs 280.70 crore, based on the recommendation of the Foreign Investment Promotion Board (FIPB) last month. The Internet and Media companies which have received approvals from the FIPB include: Hubert Burda Media India Pvt Ltd: Hubert Burda Media (formerly HT Burda Media, a joint venture between German publishing company Burda Druck and The Hindustan Times) has received FIPB approval to get Rs 4.67 crore capital infusion from the parent company. It's worth noting that Burda Druck had acquired HT Media's entire 51% stake in HT Burda Media Ltd for Rs 60 crore, in March 2013. Previously, Hubert Burda Media India had sought for an approval from FIPB for an investment of up to Rs 7 crore, in June 2013. Integrated Databases India Limited (IDIL): India Today Group owned IDIL, which runs the online B2B marketplace Indiabizsource.com, has received approval to issue equity shares worth Rs 7 crore to Nikkei Business Publications, Inc., Japan, which is equivalent to 20% of the shareholding of IDIL. Tokyo-based Nikkei Business Publications is a well-known book and magazine publisher. The internet and telecom companies deferred by the government include: IIFL Holdings: IIFL Holdings' (formerly India Infoline) proposal to increase foreign equity from 54.7% to 100% by way of issuing shares to FIIs has been deferred. IIFL Holdings is a non-bank financial company (NBFC) offering brokering and wealth management services. India Value Fund IV: India Value Fund's proposal to invest in the capital of Atria Convergence Technologies (ACT) in excess of 49% and…
