Balaji Telefilms Merger Gets BSE, NSE Nod; Awaits NCLT Clearance
According to BSE's letter, there were no unfavourable observations; therefore, the plan may be sent to the NCLT for additional approval
To get its scheme of arrangement between Alt Digital Media Entertainment, Marinating Films, and Balaji Telefilms approved, Balaji Telefilms will submit a petition to the National Company Law Tribunal.
On January 3, 2025, the National Stock Exchange of India (NSE) sent the company an observation letter.
On January 2, Balaji Telefilms received an observation letter from SEBI from the BSE, as per its exchange filings.
According to BSE's letter, there were no unfavourable observations; therefore, the plan may be sent to the NCLT for additional approval.
"The company shall ensure that the observations of SEBI/Stock Exchanges shall be incorporated in the petition to be filed before NCLT and the Company is obliged to bring the observations to the notice of NCLT," it was said.
The validity of the NSE 'observation letter' shall be six months from January 03, 2025, within which the merger scheme shall be submitted to NCLT.
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