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Legal | HT Media gets Delhi HC nod to demerge biz

Legal | HT Media gets Delhi HC nod to demerge biz
PTI
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First Published: Thu, Mar 26 2009. 11 03 PM IST
Updated: Thu, Mar 26 2009. 11 03 PM IST
Mumbai: HT Media Ltd on Thursday said it has received the Delhi high court’s approval for the demerger of its radio business, known for its FM channel Fever 104, from its subsidiary HT Music and Entertainment Co. Ltd and merge it with itself. (HT Media also publishes Mint and the ‘Hindustan Times’.)
The court, in terms of the order passed on 19 March, has sanctioned the scheme of arrangement and restructuring between HT Media and HT Music and Entertainment Co., which entails the demerger of its radio business, HT Media said in a filing to the Bombay Stock Exchange. The company further said that the scheme would be effective after necessary approvals have been secured.
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First Published: Thu, Mar 26 2009. 11 03 PM IST