CYBER MEDIA (INDIA) LTD. - 532640 - Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 - Conversion Of Capital Advance Into Loan
We, earlier vide our letter dated May 31, 2022, informed about the approval of the Board of Directors of the Company at its meeting held on May 31, 2022 to the sale of the Company's property, 'Cyber House' located at Plot No. B-35, Sector-32, Gurugram-122001 to Cyber Media Research & Services Limited ('CMRSL'), a related party, for a total sale consideration of Rs. 19 crore against which the Company had received a sum of Rs. 7.60 crore as capital advance from CMRSL. Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that the Board of Directors of the Company at its meeting held on February 07, 2023 has approved the conversion of the Capital Advance of Rs. 7.60 crore into loan and has entered into a Loan Agreement with CMRSL, subject to approval of shareholders. The details as required under Regulation 30 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 are enclosed as Annexure.08-02-2023