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Dish TV evaluating insolvency impact on Videocon d2h merger

Press Trust of India  |  New Delhi 

Dish said it is evaluating the impact of reported insolvency proceedings initiated against certain entities of the group on its proposed with d2h.

The proposed has already received regulatory approvals from the Ministry of Information and Broadcasting, NCLT and from the Competition Commission of

"It has come to our knowledge that certain entities belonging to the group, including the promoters of ltd, have become subject to insolvency and /or enforcement proceedings by lenders," firm said in a filing.

It further added, "In the light of the foregoing, the company is evaluating as to whether there is any impact of the same on its right and obligations under the definitive agreement and consequential effects on the transactions contemplated thereunder."

According to the reports, several lenders of the debt ridden Videocon group, which have interest in consumer electronics and home appliance and and besides others, are gearing up to approach bankruptcy courts to recover their money.

On November 11, 2016, the board of and Videocon d2h had approved scheme of arrangement for the amalgamation of into

If Dish TV and are merged, then the merged entity would have a subscriber base of over 27 million, creating the largest DTH service provider in the industry.

Dish TV has an active subscriber base of 15.5 million, while that of Videocon d2h stands at around 12.2 million.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, January 11 2018. 22:00 IST