TIPS INDUSTRIES LTD. - 532375 - Clarification
This is with reference to your letter dated December 28, 2020 seeking clarification on the news item which appeared in www.economictimes.com dated December 28, 2020 captioned 'Music record label Tips Industries, Facebook ink global licensing deal' We wish to inform you that being a content ownership Company, we are in constant discussions with telecom/social media players/ OTT for content sharing. The referred subject on content sharing on facebook is one such revenue model of the Company. Given it is in the ordinary course of business, we do not feel there is anything special it can be attributed. The Company has a practice to share such deals in the press through small press note. We hope the above explanation meets with your requirement.28-12-2020