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| Exchange Disseminated Time | Saregama India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 19, 2007 has approved the amalgamation of Saregama Films Ltd (SFL) with the Company with effect from March 31, 2007.
SEL is a wholly owned subsidiary of the Company and is engaged in the business of production and distribution of films and also production and exhibition of Television Software in regional languages. The amalgamation is Subject to the approval of the shareholders of both the Companies and the sanction by the Hon'ble High Court at Calcutta under section 391 and 394 and other applicable provisions of the Companies Act, 1956.
The Company shall take steps for filing of the Petition for sanction of the Hon'ble High Court at Calcutta to the Scheme in due course. |
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