FIPB defers decision on Vodafone application

New Delhi, Mar 20 (UNI) The Foreign Investment Promotion Board (FIPB) today deferred its decision on the application filed by British telecom giant Vodafone to pick stake in India's Hutch-Essar.

''There are certain issues which have to be clarified before the clearance can be given,'' official sources said here.

Vodafone had applied to the FIPB for clearance on February 22.

FIPB had sought comments from the Department of Telecom, Ministry of Commerce and the Reserve Bank of India (RBI).

Sources, however, said that as all requisite comments have yet to be received by the FIPB which resulted in the deferrment of the decision on the Vodafone's application.

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