Indian authorities have stalled a bid by Finmeccanica to increase investment in its joint venture (JV) with Tata Sons: the holding company of Tata Group. The Foreign Investment Promotion Board (FIPB) said on 2 May that it has deferred judgement on a proposal submitted by Finmeccanica, which will change its name to Leonardo next year, to increase investment in the JV - named Indian Rotorcraft Ltd (IRL) - from INR176 million (USD2.6 million) to INR196.4 million.
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