Decision on IPL franchisee's FDI plea deferred

The Centre on Friday announced that it had deferred a decision on allowing induction of 100 per cent foreign equity in Jaipur IPL Cricket Pvt. Ltd. , one of the owners of Rajasthan Royals.

The proposal from the JIPL was one of the 17 deferred by the Foreign Investment Promotion Board. The company had sought “to induct 100 per cent foreign equity by way of issue of shares for consideration other than cash.” Last October, the FIPB rejected a proposal from the company to allow induction of foreign equity.