At meeting held on 26 August 2020
The Board of NxtDigital at its meeting held on 26 August 2020 has approved the issue of 34,95,655 new equity shares of Rs. 10/- each for allotment to the shareholders of IndusInd Media & Communications pursuant to clause 4 of the Scheme of Arrangement between NxtDigital and IndusInd Media & Communications (IMCL) and its respective shareholders by which Media and Communication undertaking of IMCL is demerged into the Company.The Scheme of Arrangement was approved by Hon'ble National Company Law Tribunal, Mumbai Bench vide its order dated 21 August 2020 and it became effective on filing of the said order with Registrar of Companies on 21 August 2020.
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