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| Exchange Received Time 27/08/2019 19:56:30 Exchange Disseminated Time 27/08/2019 19:56:37 Time Taken 00:00:07 | | We would like to inform you that, the Board of Directors of our Company at its meeting held today have unanimously approved the Scheme of Arrangement between IndusInd Media and Communications Limited ('IMCL') and Hinduja Ventures Limited ('HVL') in accordance with the provisions of Section 230 to 232 read with Section 52 and 66 of the Companies Act, 2013.The meeting commenced at 12:45 p.m. and concluded at 7:45 p.m. The Scheme inter alia provides for demerger of the Media and Communications Undertaking (as defined in the Scheme) of IMCL into HVL. As consideration for the proposed Scheme, equity shares of the HVL shall be issued to the eligible shareholders of IMCL. Shares issued by HVL pursuant to demerger will be listed for trading. |
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