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SEs told to inform brokers on FII investments in print media
Our Markets Bureau
Mumbai, March 12: The Securities and Exchange Board of India (Sebi) has advised the stock exchanges on Monday to bring to the notice of brokers the recent Reserve Bank of India (RBI) notification disallowing purchase of shares of companies engaged in print media by foreign institutional investors and foreign venture capital investors (FVCI).The RBI has issued the notification on February 16, 2001, after there was a hue and cry by the Union minster for information and boardcasting Sushma Swaraj and some other political leader at the initial public offering of shares by the Mumbai-based Mid-Day Multimedia to FIIs, overseas corporate bodies (OCBs) and non-resident Indians (NRIs), after duly obtaining the apex bank's permission. Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
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