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| Exchange Received Time 08/06/2017 16:36:36 Exchange Disseminated Time 08/06/2017 16:36:44 Time Taken 00:00:08 | We wish to inform you that the Board of Directors of Next Radio Limited ('NRL') (the Company's subsidiary) has, at its meeting held on 8th June 2017, approved transfer of its FM radio broadcasting business at Ahmedabad (the 'Undertaking') to its wholly owned subsidiary viz. Syngience Broadcast Ahmedabad Limited. The Board of Directors of NRL has also, at the aforementioned meeting, approved the Scheme of Arrangement, with appointed date as 1st April 2017. The said transfer of the Undertaking is subject to the approval of the National Company Law Tribunal and the Ministry of Information & Broadcasting.
About Next Radio Limited:
Next Radio Limited is engaged in the business of private FM broadcasting and has established "Radio One" as a premium FM brand in the country, with operations in 7 cities at Delhi, Mumbai, Chennai, Kolkata, Bangalore, Pune, and Ahmedabad.
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