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| Exchange Disseminated Time | TV Today Network Ltd has informed BSE that in respect to the application made to Ministry of Information and Broadcasting (MIB), Government of India seeking its approval regarding the sale of Radio FM Business [Seven Radio Stations] to Entertainment Network (India) Limited, MIB by their order dated May 01, 2015, received on May 08, 2015, has declined its approval on the grounds that the proposal sale is not in conformity with the FM Radio Guidelines. However the company reserves its right to seek appropriate legal remedy, as and when required.
Further, the Committee meeting of senior officials was held on May 08, 2015 to take note of the said order. Keeping in view the said order, the Committee has considered and approved the amendment letter to the Non binding Memorandum of Understanding to be signed between the Company and Entertainment Network (India) Limited. |
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