NEW DELHI: The Government today deferred approval to a proposal by Nickelodeon Asia Holdings Pte. Ltd., Singapore for purchasing the entire holdings of Shinano Retail Private Limited, India.

Nickelodeon Asia Holdings plans to purchase the holdings of Shinano in Prism TV Private Limited.

The Finance Ministry on the recommendation of the Foreign Investments Promotion Board (FIBP) approved a proposal of Viacom 18 Media Pvt. Ltd. for the deletion of one condition in the amendment.

However, this does not involve any foreign direct investment (FDI).