Govt seeks compliance of 26 percent FDI in digital news within 1 month
New Delhi: The Ministry of Information and Broadcasting on Monday issued a public notice asking entities involved in the streaming of news and current affairs through digital media to comply with the Centre's earlier order permitting 26 per cent foreign direct investment under the government approval route to such entities.
The ministry, in its notice to the news portals, websites and news agencies, has laid out the detailed actions to be undertaken by eligible entities to comply with the government's September 18, 2019 decision within a month.
Under the notice, "entities having foreign investment below 26 per cent may furnish an intimation to the Ministry of Information and Broadcasting within one month giving details of the company and its shareholding pattern along with the names and addresses of its directors/shareholders.
It has directed such entities to also provide the names and addresses of its promoters/significant beneficial owners and also a confirmation with regard to compliance with pricing, documentation and reporting requirements under the FDI policy, Foreign Exchange Management (Non-debt Instruments) Rules, 2019 and Foreign Exchange Management (Mode of Payment and Reporting of Non-debt Instruments) Regulations, 2019.
"Entities which, at present, have an equity structure with foreign investment exceeding 26 per cent would give similar details as above to the ministry within one month from today, and take necessary steps for bringing down the foreign investment to 26 per cent by October 15, 2021, and seek approval of the ministry," the notice said.
The notice comes exactly a month after the Supreme Court issued a notice to the Centre seeking its response on a PIL for regulating over-the-top (OTT) platforms such as Netflix and Amazon Prime by an autonomous body.
Recently, the Centre brought OTT platforms like Netflix, Amazon Prime Video and Disney+Hotstar, besides other online news and current affairs content, under the ambit of the Ministry of Information and Broadcasting, giving it powers to regulate policies and rules for the digital space.
In its notice issued on Monday, the ministry also said that any entity which intends to bring fresh foreign investment in the country has to seek prior approval of the central government, through the Foreign Investment Facilitation Portal of DPIIT, as per the requirements of the FDI policy of the government.
"Every entity has to comply with the requirements of citizenship of the Board of Directors and of the Chief Executive Officers (by whatever name called). The entities are required to obtain security clearance for all foreign personnel likely to be deployed for over 60 days in a year by way of appointment, contract or consultancy or any other capacity for the functioning of the entity, prior to their deployment.
"For this purpose, the entities will apply to the ministry at least 60 days in advance and the proposed foreign personnel shall be deployed by the entity only after prior approval of this ministry," the public notice said.
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Another North Goa nightclub sealed; Kejriwal says corruption led to fire tragedy
Panaji (PTI): As part of a crackdown against tourist establishments violating laws and safety norms in the aftermath of the Arpora fire tragedy, Goa authorities on Saturday sealed a renowned club at Vagator and revoked the fire department NOC of another club.
Cafe CO2 Goa, located on a cliff overlooking the Arabian Sea at Vagator beach in North Goa, was sealed. The move came two days after Goya Club, also in Vagator, was shut down for alleged violations of rules.
Elsewhere, campaigning for local body polls, AAP leader Arvind Kejriwal said the fire incident at Birch by Romeo Lane nightclub at Arpora, which claimed 25 lives on December 6, happened because the BJP government in the state was corrupt.
An inspection of Cafe CO2 Goa by a state government-appointed team revealed that the establishment, with a seating capacity of 250, did not possess a no-objection certificate (NOC) of the Fire and Emergency Services Department. The club, which sits atop Ozrant Cliff, also did not have structural stability, the team found.
The Fire and Emergency Services on Saturday also revoked the NOC issued to Diaz Pool Club and Bar at Anjuna as the fire extinguishers installed in the establishment were found to be inadequate, said divisional fire officer Shripad Gawas.
A notice was issued to Nitin Wadhwa, the partner of the club, he said in the order.
Campaigning at Chimbel village near Panaji in support of his party's Zilla Panchayat election candidate, Aam Aadmi Party leader Kejriwal said the nightclub fire at Arpora happened because of the "corruption of the Pramod Sawant-led state government."
"Why this fire incident happened? I read in the newspapers that the nightclub had no occupancy certificate, no building licence, no excise licence, no construction licence or trade licence. The entire club was illegal but still it was going on," he said.
"How could it go on? Couldn't Pramod Sawant or anyone else see it? I was told that hafta (bribe) was being paid," the former Delhi chief minister said.
A person can not work without bribing officials in the coastal state, Kejriwal said, alleging that officers, MLAs and even ministers are accepting bribes.
