The Foreign Investment Promotion Board (FIPB), however, deferred decisions on 27 proposals, including that of Essar Capital Holdings and Forbo Holding AG, Lindenstrasse, Switzerland.

"Based on the recommendations of FIPB...Government has approved 14 Proposals of FDI amounting to Rs 1289.855 crore," an official statement said.

The FIPB , which falls under the Finance Ministry, gave its nod to Kolkata based Dhunseri Investments FDI proposals worth Rs 715 crore. The company had proposed to issue and allot equity shares to the non-resident shareholders consequent upon demerger.

Ghir Investments got the approval of the Board for induction of foreign equity in an investing company. The Mauritius based company proposes to bring in FDI worth Rs 530 crore.

PTI