Mumbai: The ministry of finance said on Thursday that the meeting scheduled by the Foreign Investment Promotion Board (FIPB) to consider, among other proposals, one from Tata Sons and Singapore Airlines (SIA) for a full-service airline had been postponed to October 24, from this Friday.
“Due to some unavoidable circumstances the 197th Meeting of the Foreign Investment Promotion Board (FIPB) scheduled to be held on Friday, the October 18…has been postponed and will now be held on Thursday, the October 24”, the Ministry of Finance said in a statement.
Besides the SIA-Tata proposal, the FIPB (chaired by Economic Affairs Secretary Arvind Mayaram) was to take up 29 other foreign investment applications. All these will now be considered on October 24.
The proposed Tata SIA Airlines is to have an initial investment of $100 million, said the entities’ announcement on September 19. The Tatas will have 51 per cent stake and SIA the rest.
Read news in full 18/10/13 Business Standard
Sunday 20 October 2013
FIPB meeting on Tata-SIA postponed to October 24
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