Saregama India - Outcome of Board Meeting
Saregama India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 26, 2007 has approved in-principle for investing in a new joint venture Company incorporated in India alongwith Regency Media Pty Ltd., Australia, for manufacture and sale of Optical Media. Pursuant to the said joint venture, Regency Media Pty Ltd. will subscribe to 74% of the issued capital of the new joint venture Company and the Company shall subscribe to the balance 26% shares.26-07-2007