Entertainment Network (India) has informed that Times Infotainment Media [TIML], the holding company of Entertainment Network (India) [ENIL / the Company] and Bennett, Coleman & Company (BCCL), the holding Company of TIML, had filed a Scheme of Amalgamation and Arrangement (Scheme) under the Companies Act, 1956. The Scheme was approved by the Hon’ble Bombay High Court vide Order dated July 03, 2015 (Order). The Hon’ble Bombay High Court’s approval was however subject to the approval of the Ministry of Information & Broadcasting, Government of India (MIB). The MIB has now vide its letter dated April 25, 2016 (received by the Company on April 26, 2016), accorded its approval to the change in ownership pattern of the Company under the Scheme. Consequently, TIMLs entire shareholding in ENIL shall stand transferred to BCCL, and BCCL shall be the sole promoter shareholder of ENIL.
The above information is a part of company’s filings submitted to BSE.
