Under Portfolio Investment Scheme
T.V. Today Network announced that pursuant to the shareholders approval taken in Annual General Meeting held on 20 August 2015 by passing a special resolution pursuant to item no. 9 of the AGM Notice for increasing in limit of foreign investment by foreign portfolio investors (FPI)/ foreign institutional investors (FII)/ Non resident Indians (NRI) under portfolio investment scheme, the Company have received the notice from the Reserve Bank of India (RBI) dated 01 December 2015 and 02 December 2015 respectively regarding following:a. Approval for increase in Foreign investment limit in TV Today Network under PIS-FIIs/RFPIs to 26%.
b. Approval for increase in Foreign investment limit in TV Today Network under PIS-NRIs to 24% provided aggregate foreign investment (Composite) will not exceed the maximum permissible limit of 26%.
These above limits are subject to the Regulation 5(3) of FEMA Notification dated 03 May 2000 (as amended from time to time) issued under FEMA, 1999.
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