JMD Telefilms gets nod to demerge mobile division

JMD Telefilms has received an approval to demerge mobile division of the company into another company. The board at its meeting held on September 19, 2011 has considered and approved the same. This fits with the overall strategy of the company to restructure its business as accordance to the external macro economy factors and as well as unleashing its internal businesses and optimization of resources.

Further, the board has also decided to form a committee to finalize the roadmap and to look into the various compliance and regulatory procedures for the same. This committee will be chaired by Jagdish Purohit. The committee will consult with the advisors and will bring back to the board as quick as possible the recommendations, procedures to enable the demerging of the Mobile Business division.

Earlier in February this year, the company had decided to enter in the Mobile handset and devices industry. To continue with the expansion plans and diversifying the JMD business, the company’s board had decided to enter the business of distribution, trading and retailing of Mobile Devices (including mobile phones, mobile devices like tablet PCs and also mobile accessories).

JMD Telefilms Industries is a leading entertainment and media solutions company. It has restructured and diversified from a pure content production company to a trading, ecommerce, digital solutions and MVAS Company in 2010 and looking to add new areas of business in 2011 for further growth and development.