NEW DELHI: The government has said that the proposal of Turner General Entertainment Networks India for post facto approval for transfer of one share held by resident shareholder to WoS of the foreign investor does not lie before Foreign Investments Promotion Board (FIPB) and is under automatic route.

Meanwhile, Panacea Publishing, Mumbai, has got approval for 50 per cent foreign equity by Panacea Publishing International, UK, to engage in the business of print and advertising media. This involves FDI of Rs1 million.

Vogel Business Media, engaged in publishing, got clearance for post facto approval for (i) induction of a new foreign investor in the approval letter to whom shares had been issued in 2011, (ii) change of name of one existing investor and (iii) induction of name of one foreign investor which was inadvertently not inserted in the approval letter. This did not involve any FDI.

GETIT Infoservices, engaged in publishing, got approval for increasing foreign equity participation in its share capital from present 96.266 per cent to up to 100 per cent involving Rs 184 crore.