After evaluating the consequences of parent company Videocon’s insolvency proceedings, Dish TV India has decided to proceed with the merger with Videocon D2H.
The company has appointed two directors to the board of Videocon D2H Limited to aid the integration of the two businesses. Earlier in January, Dish TV had said that it was evaluating the impact of insolvency proceedings against the Videocon Group companies.
Previously, on January 11, the company said in a regulatory filing, “It has come to our knowledge that certain entities belonging to the Videocon group, including the promoters of Videocon d2h Ltd, have become subject to insolvency and/or enforcement proceedings by lenders. In light of the foregoing, the company is evaluating if there is any impact of the same on its rights and obligations under the definitive agreements and consequential effects on the transactions contemplated thereunder.”
Full Content: Financial Express
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