NEXT MEDIAWORKS LTD. - 532416 - Sanction Of Scheme Of Arrangement U/S 230 To 232 And Other Applicable Provisions Of The Companies Act, 2013 Between Subsidiary Companies Viz. Syngience Broadcast Ahmedabad Limited ("Transferor Company" Or "SBAL") And Next Radio Limited ("Transferee Company" Or "NRL") And Their Respective Shareholders And Creditors
This is in furtherance to our letter dated April 01, 2021 informing the stock exchanges that the Board of Directors of the subsidiary companies i.e., Syngience Broadcast Ahmedabad Limited and Next Radio Limited had approved the Scheme of Amalgamation ("Scheme") of SBAL ("Transferor Company") with NRL ("Transferee Company") and their respective shareholders and creditors under Sections 230 to 232 of the Companies Act 2013. The Transferor Company is wholly owned subsidiary of Transferee Company. The Hon''ble National Company Law Tribunal, Mumbai Bench ("NCLT") in its order delivered on June 10, 2022, has sanctioned the Scheme (the order sanctioning the Scheme has been uploaded on the website of NCLT on June 28, 2022). Certified true copy of the order is awaited. The Scheme shall become effective on the date of filing of copy of the NCLT order by the Transferor Company and Transferee Company with the Registrar of Companies, Mumbai. This is for your information please.29-06-2022
