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| Exchange Disseminated Time | Saregama India Ltd has informed BSE that the Board of Directors of the company have at their meeting held June 25, 2003 approved a scheme of reconstruction of the company upon transfer of its Television Software Business to Saregama Films Ltd (SFL), a wholly owned subsidiary of the company wef June 30, 2003. The rest of the business and undertaking of the company will continue to remain with the company. In consideratio0n of the transfer, SFL will issue and allot to the company, equity shares of Rs 10 each credited as fully paid up in SFL.
The scheme is subject to and conditional upon the requisite approvals being received therefor, including approval of shareholders and the sanction by the Hon'ble High Court at Culcutta. |
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