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| Exchange Received Time 22/11/2017 14:48:11 Exchange Disseminated Time 22/11/2017 14:48:19 Time Taken 00:00:08 | Further to our letter dated 14th July 2017, we wish to inform you that the National Company Law Tribunal ('NCLT') has, at the hearing conducted on 5th October 2017, sanctioned the Scheme of Arrangement between the shareholders of Next Radio Limited ('NRL') and Syngience Broadcast Ahmedabad Limited ('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.
This intimation is being given subsequent to NRL receiving certified true copies of the Order from NCLT and post intimation received in this regard by the Company from NRL.
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