Furtherance of letter dated 16th October, 2017 informing that the Board of Directors of Hindustan Media Ventures had approved a Scheme of Arrangement under section 230 to 232 of the Companies Act, 2013 between the Company (HMVL) and India Education Services Private Limited (IESPL) and their respective shareholders [Scheme], and was followed by another intimation vide its letter dated 9th March, 2019, on the outcome of meeting of Equity Shareholders and Unsecured Creditors of HMVL approving the Scheme; Hindustan Media Ventures has now informed that Hon'ble National Company Law Tribunal (NCLT) Kolkata Bench vide order dated 5th August, 2019 (modified vide order dated 28th August, 2019) has sanctioned the Scheme and the certified copy of the Order was received by the Company on 8th November, 2019; Hon'ble NCLT, New Delhi Bench vide order dated 22nd October, 2019 has also sanctioned the Scheme. Certified copy of the order is awaited; and Scheme shall become effective on the date of filing of certified copy of orders of NCLT, Kolkata and New Delhi Bench with the concerned Registrar of Companies, upon fulfilment of other conditions prescribed in the Scheme. The Company will communicate to the stock exchanges the effective date of the Scheme, in due course.
The above information is a part of company’s filings submitted to BSE.
