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The National Company Law Tribunal (NCLT) has scheduled the final hearing for Star India and Viacom18's merger plea on August 1, according to a news report.
The July 11 hearing’s order sheet indicated that the division bench, comprising technical member Anu Jagmohan Singh and judicial member Kishore Vemulapalli instructed both parties to issue new notices for the final hearing to the state and central governments, tax authorities, the Competition Commission of India (CCI) and the Ministry of Information and Broadcasting.
The NCLT also directed the parties to include a statement in the notices specifying that if no response is received within 30 days, it will be assumed that the authorities have no objections to the merger scheme.
Once the NCLT approves the scheme, it will require clearance from the Competition Commission of India (CCI). The merger of Star India and Viacom18 is currently under CCI review due to its potential impact on the broadcasting and streaming sectors.
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