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NEW DELHI, Sept. 13

THE UK-based Kodak Ltd's plan to increase its stake in the Indian subsidiary, Kodak India Ltd, from 74.76 per cent to 100 per cent involving foreign direct investment (FDI) worth Rs 99 crore has been cleared.

This is among the 30 FDI proposals approved by the Minister for Commerce and Industry, Mr Murasoli Maran, today involving a combined FDI worth Rs 212 crore.

The Netherlands-based GVK International's plan to acquire 51 per cent stake in GVK Infrastructure Investments involving FDI worth Rs 51 crore has been approved .

The UK-based J&P Coats Ltd has been permitted to increase its stake in Madura Coats Ltd from 63.21 per cent to 100 per cent, with foreign direct investment worth Rs 21.67 crore.

International Finance Corporation has been permitted to invest Rs 13 crore to acquire 34.54 per cent stake in Mahindra Shubhalav Services Ltd engaged in providing services to farmers through franchisee network. The Minister has also given the go-ahead to GE Capital Mauritius Ltd to acquire 7.5 per cent stake in TV Today Network Ltd, the company that runs the Hindi news channel Aaj tak, involving FDI worth Rs 10.50 crore. Hindustan Lever Ltd's proposal to issue 1,375 shares of Re 1 each to foreign institutional investors due to the merger of International Best Foods Ltd, pending for several months, also received the Minister's clearance.

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