To apply to Ministry of I&B for approval of the scheme
Next Mediaworks announced that the National Company Law Tribunal ('NCLT') has, at the hearing conducted on 5 October 2017, sanctioned the Scheme of Arrangement between the shareholders of Next Radio ('NRL') and Syngience Broadcast Ahmedabad ('SBAL') pursuant to which NRL's FM radio broadcasting business at Ahmedabad shall be demerged and transferred to its wholly owned subsidiary SBAL. The said Scheme is subject to the approval of the Ministry of Information & Broadcasting ('MIB') and shall be effective on the date MIB accords its approval. NRL will soon be making an application to MIB for seeking its approval.NRL has received certified true copies of the Order from NCLT.
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