Board of Saregama India approves scheme of arrangement

At meeting held on 30 March 2022

The Board of Saregama India at its meeting held on 30 March 2022 approved the Scheme of Arrangement between the Company and Digidrive Distributors (Resulting Company) and their respective shareholders and creditors, which inter alia provides for the demerger, transfer and vesting of the Demerged Undertaking (as defined in the Scheme) from the Company into the Resulting Company, on a going concern basis.

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