TV18 India oks scheme of arrangement between co & Web18

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TV18 India oks scheme of arrangement between co & Web18

Television Eighteen India has sanctioned the scheme of arrangement between Television Eighteen India Ltd, Web18 Software Services Ltd, IBN18 Media & Software Ltd, iNews.com Ltd, Television Eighteen Commoditiescontrol.com Ltd, RVT Investments Pvt. Ltd, Network18 India Holdings Pvt. Ltd.

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Television Eighteen India has sanctioned the scheme of arrangement between Television Eighteen India Ltd, Web18 Software Services Ltd, IBN18 Media & Software Ltd, iNews.com Ltd, Television Eighteen Commoditiescontrol.com Ltd, RVT Investments Pvt. Ltd, Network18 India Holdings Pvt. Ltd, Care Websites Pvt. Ltd, ibn18 Broadcast Ltd and Network 18 Media & Investments Ltd and their respective shareholders and creditors pursuant to the provisions of section 391-394 of the Companies Act, 1956.

The said court order has been duly filed with the Registrar of Companies, NCT of Delhi & Haryana on June 10, 2011, making this date as the 'effective date' for the scheme of arrangement. The appointed date under the scheme is April 01, 2010, as per notice available on BSE.

(Note: Web18, which owns Moneycontrol.com and Indiaearnings.com, belongs to the Network 18 Group).