In continuation to letter dated January 30, 2021 intimating about the receipt of Observation Letters as required under Regulation 37 of the Listing Regulations with No adverse observation/ No-objection, to the proposed Scheme, Music Broadcast has informed that Company has filed the draft Scheme of Arrangement between Music Broadcast and its members under Sections 230 to 232 of the Companies Act, 2013, with National Company Law Tribunal (NCLT) on February 03, 2021 which provides for issuance and allotment of Bonus Non-Convertible Non-Cumulative Redeemable Preference Shares to Non-promoter shareholders of the Company subject to requisite statutory approvals for its approval.
The above information is a part of company’s filings submitted to BSE.
