The Foreign Investment Promotion Board (FIPB) has approved Switzerland-registered telecom company ByCell Communications’ plans to invest over Rs 25 billion in India. Prior to this, the telecom company had taken the FIPB and DoT to court over the government’s failure to clear its licence applications. ByCell holds letters of intent for launching mobile services in Assam, Bihar, the north-eastern states, Orissa and West Bengal, but its licences had been withheld for the past 15 months due to its failure to obtain FIPB clearance.
