Walt Disney, Zee among 12 FDI deals to get govt nod

The government today approved 12 FDI proposals worth over Rs 1,000 crore, including that of Walt Disney and Zee Entertainment.

"Based on the recommendations of Foreign Investment Promotion Board ... The government has approved 12 proposals of FDI amounting to Rs 1,045.61 crore," an official statement said.

The highest Foreign Direct Investment of Rs 529 crore is likely to come from Delhi-based Max India, followed by Hyderabad-based Soma Highways (Toll) Projects' Rs 360 crore proposal.

The government deferred 11 proposals, including Essar Capital Holdings, Verizon Communications, Star India Holding, and Etisalat DB Telecom.

It, however, rejected seven FDI proposals and referred the proposal of Bharat Oman Refineries to the Cabinet Committee on Economic Affairs (CCEA) for its consideration.