The Law Ministry is understood to have given a clean chit to Vodafone's acquisition of mobile firm Hutch-Essar in its response to FIPB, which today deferred a decision on the deal for the third time in a row.The ministry has given a green signal to Hutch-Vodafone deal on the basis of documents provided by FIPB, official sources said. The board, however, was not fully satisfied with the ministry's comments, they added.The Law Ministry's comments on the alleged breach of foreign shareholding cap in India's fourth-largest mobile player was sent to the Finance Ministry on April 20, but since it was circulated to other ministries only today, the matter is deferred till the next meeting on April 27."FIPB will meet next Friday to discuss the issue. The law Ministry's views have been received only today and have been circulated among the members. We shall take some time to study them," Ajay Dua, Secretary in the Department of Industrial Policy and Promotion, told reporters after the meeting.Asked what the Law Ministry said in its comments, he said it can only be known after studying them in detail.However, Vodafone was unfazed by the prolonged delay and remained positive about the chances of being able to complete the acquisition soon."We are still hopeful that transaction will complete in second quarter of 2007, that is before June-end," a Vodafone spokesperson said.FIPB had earlier failed to reach a decision on March 22 and March 29.
