Amid talks of a proposed hike in tax rate for bank deposits in Cyprus, Media conglomerate Network18 Media and Investments along with subsidiaries has reported to have less than $260,000 (about Rs 1.41 crore or Euro 200,830) as bank deposits in the Mediterranean island.
However, the company has highlighted its Joint Venture-Viacom 18’s subsidiary in Cyprus- The Indian Film Company, holds no bank balances in Cyprus.
The Euro group, which brings together the finance ministers of the 17-member euro-zone, disclosed on March 16, a 10 billion euro ($13 billion) rescue package for Cyprus that requires the fiscal haven island to raise another 5.8 billion euros from its banks by taxing depositors.
Network 18 Media & Investments is one of India's leading full play media conglomerates with interests in television, print, internet, filmed entertainment, mobile content and allied businesses.
| Company Name | CMP |
|---|---|
| Zee Entertainment | 81.06 |
| Sun TV Network | 641.25 |
| GTPL Hathway | 69.83 |
| Network 18 Media Inv | 36.38 |
| TV Today Network | 114.27 |
| View more.. | |
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