TV18 Broadcast gives nod to amalgamation of four subsidiaries

The said scheme of amalgamation is subject to regulatory approvals

TV18 Broadcast on Sunday said its board of directors have approved amalgamation of four subsidiaries -- Equator Trading Enterprises, Panorama Television, RVT Media and ibn18 (Mauritius) -- into TV18 Broadcast.

"The board of directors of TV18 at its meeting held on January 14, 2017, on the recommendation of the Audit Committee, approved the scheme of amalgamation of the direct or indirect wholly-owned subsidiaries of the company, namely Equator Trading Enterprises, Panorama Television, RVT Media and ibn18 (Mauritius) into TV18 Broadcast with appointed date as April 1, 2016, under the applicable provisions of the Companies Act, 2013," the company said in a BSE filing.

However, the said scheme of amalgamation is subject to other regulatory approvals.