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| Exchange Disseminated Time 03/12/2015 17:53:01 | TV Today Network Ltd has informed BSE that pursuant to the shareholders approval taken in Annual General Meeting held on August 20, 2015 by passing a special resolution pursuant to item no. 9 of the AGM Notice for increasing in limit of foreign investment by foreign portfolio investors (FPI)/ foreign institutional investors (FII)/ Non resident Indians (NRI) under portfolio investment scheme, the Company have received the notice from the Reserve Bank of India (RBI) dated December 01, 2015 and December 02, 2015 respectively regarding following:
a. Approval for increase in Foreign investment limit in M/s TV Today Network Ltd. under PIS-FIIs/RFPIs to 26%.
b. Approval for increase in Foreign investment limit in M/s TV Today Network Ltd. under PIS-NRIs to 24% provided aggregate foreign investment (Composite) will not exceed the maximum permissible limit of 26%.
These above limits are subject to the Regulation 5(3) of FEMA Notification dated May 03, 2000 (as amended from time to time) issued under FEMA, 1999. |
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