With reference to the earlier announcement dated January 30, 2009, HT Media Ltd has informed BSE that the Honble Delhi High Court in terms of the order passed on March 19, 2009, has sanctioned the Scheme of Arrangement and Restructuring u/s 391-394 read with Sections 100 to 104 of the Companies Act, 1956 between HT Media Ltd (HTML) and HT Music and Entertainment Company Ltd (HTME). The said Scheme, inter alia, provides for demerger of Radio business of HTME and transfer and vesting thereof with HTML w.e.f. the Appointed Date i.e. January 01, 2009.
The Scheme shall however, come into effect on receipt of necessary consent, approval, permission of other statutory, ministry or regulatory authority, winch may be necessary for implementation of the Scheme.
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