Scheme becomes effective on 21 August 2017
Hinduja Ventures announced that the NCLT vide its order dated 10 August 2017 had sanctioned the Scheme of Arrangement between Grant Investrade ('GIL'), a wholly owned subsidiary of the Company & IndusInd Media & Communications ('IMCL'), a subsidiary of the Company ('Scheme of Arrangement').The effective date of the Scheme is 21 August 2017.
Accordingly, pursuant to the aforesaid arrangement, the Headend-in-the- Sky (HITS) business undertaking of GIL vested in to IMCL w.e.f 01 October 2016, being the appointed date.
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