BSE, NSE approves Balaji Telefilms merger scheme; NCLT approval awaits

Balaji Telefilms will approach the National Company Law Tribunal to approve its Scheme of Arrangement between Alt Digital Media Entertainment, Marinating Films, and Balaji Telefilms.

By  Storyboard18Jan 6, 2025 12:40 PM
BSE, NSE approves Balaji Telefilms merger scheme; NCLT approval awaits
Balaji Telefilms received an Observation Letter from National Stocks Exchange of India Limited (NSE) on January 3, 2025.

Balaji Telefilms Limited will be moving to the National Company Law Tribunal for approval of its Scheme of Arrangement between Alt Digital Media Entertainment, Marinating Films, and Balaji Telefilms.

The company received an Observation Letter from National Stocks Exchange of India Limited (NSE) on January 3, 2025.

According to its exchange filings, Balaji Telefilms received an Observation Letter of SEBI from BSE, on January 2.

BSE, in its letter, found no adverse observation indicating that the scheme can be submitted to the NCLT for further approval.

"The company shall ensure that the observations of SEBI/Stock Exchanges shall be incorporated in the petition to be filed before NCLT and the Company is obliged to bring the observations to the notice of NCLT," it was said.

The validity of the NSE 'Observation Letter' shall be six months from January 03, 2025, within which the merger scheme shall be submitted to NCLT


Tags
First Published on Jan 6, 2025 12:40 PM

More from Storyboard18

How it Works

No Small Feat: Building a ratings agency in India cost upwards of Rs 1,000 crore

No Small Feat: Building a ratings agency in India cost upwards of Rs 1,000 crore

How it Works

Microsoft lays off 830 employees in home state of Washington

Microsoft lays off 830 employees in home state of Washington

How it Works

Two channels acquire vacant MPEG-4 slots of DD Free Dish in 89th e-auction

Two channels acquire vacant MPEG-4 slots of DD Free Dish in 89th e-auction

How it Works

Fashion brands see 97% video completion rate on CTV, southern cities lead engagement surge: VDO.AI report

Fashion brands see 97% video completion rate on CTV, southern cities lead engagement surge: VDO.AI report

How it Works

Haryana bets big on global tourism; announces to build India's own Disneyland

Haryana bets big on global tourism; announces to build India's own Disneyland

How it Works

As Zee eyes Rs 2,237 cr cash push, Chandra spurs governance debate, rejects loan claims

As Zee eyes Rs 2,237 cr cash push, Chandra spurs governance debate, rejects loan claims

How it Works

Advertisers on X’s hashtag ban and vertical ad pricing: Inward focus could trigger lower ad spends

Advertisers on X’s hashtag ban and vertical ad pricing: Inward focus could trigger lower ad spends

Brand Makers

The trio of video, social and retail to lead India’s adex growth in 2025: MAGNA

The trio of video, social and retail to lead India’s adex growth in 2025: MAGNA