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NDL Ventures Limited — M&A Activity 2020
Aug 6, 2020
63401_rns_2020-08-06_75977771-e6ed-4a5e-a60c-d19045060cd8.pdf
M&A Activity
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Date: August 6, 2020
| Department of Corporate Services, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 Scrip Code: 500189 |
Department of Corporate Services, National Stock Exchange of India Limited Exchange Plaza, Bandra-Kurla Complex, Bandra (East), Mumbai – 400 051 Scrip Code: NXTDIGITAL |
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Sub: Approval of the Scheme of Arrangement between IndusInd Media & Communications Limited ““("IMCL” or “Demerged Company”) and NXT DIGITAL LIMITED (“NXT DIGITAL or ‘Resulting Company”) and their respective shareholders, by National Company Law Tribunal (NCLT)
Dear Sir/Madam,
Further to our letter dated July 15, 2020 , towards intimation of the final hearing scheduled on July 28, 2020 , towards the scheme of arrangement between IndusInd Media & Communications Limited ““("IMCL” or “Demerged Company”) and NXTDIGITAL LIMITED (“NXTDIGITAL or ‘Resulting Company”) and their respective shareholders by which Media and Communication undertaking of IMCL will be demerged into the Company.
In this regard, we would like to inform you that the National Company Law Tribunal (NCLT), Mumbai Bench (the Hon’ble NCLT) has approved the aforesaid scheme today, August 6, 2020 .
On receipt of a copy of the final order of the Hon’ble NCLT, as soon as received, we will submit the same to the exchanges.
Consequent to this order and filing of the order with the Ministry of Corporate Affairs all listing formalities are expected to be completed within the month of August 2020.
The intimation of the date of the Board meeting to declare the restated accounts for March 31, 2020 consequent to merger and Q 1 results on the merged basis in August 2020 will be communicated separately.
Kindly take the same on records
Thanking you.
For NXTDIGITAL LIMITED (formerly known as Hinduja Ventures Limited)
MANSUKHAN Digitally signed by MANSUKHANI ASHOK I ASHOK HIRANAND HIRANAND Date: 2020.08.06 13:58:13 +05'30' Ashok Mansukhani Managing Director
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(formerly known as Hinduja Ventures Limited)
Registered Office: IN CENTRE, 49/50 MIDC, 12[TH] Road, Andheri (E), Mumbai – 400 093 T: +91 – 22 – 2820 8585 W: www.nxtdigital.co CIN. No. L51900MH1985PLC036896
HINDUJA GROUP