The State Bank of India, according to media reports, will start insolvency proceedings against 12 firms including Videocon Industries and Video Telecom, which has become defunct after its closed operations and sold spectrum to Bharti Airtel.
Dish TV said that it is studying the insolvency proceedings to know whether this will have an impact on its merger with Videocon d2h.
Dish TV has also asked the advisors to the transaction to evaluate the position and advise the company with its findings within a period of 60 days. Earlier, the DTH operator had told the BSE on 22 December that the effective date of the amalgamation scheme, the filing of the relevant intimation / E-Forms with the Registrar of Companies, Ministry of Corporate Affairs, Maharashtra, Mumbai, would be getting delayed beyond 27 December 2017.
Dish TV said in a filing to the BSE: “In light of the foregoing, the Company is evaluating as to whether there is any impact of the same on its rights and obligations under the definitive agreements, and consequential effects on the transactions contemplated thereunder.”
Dish TV has also asked the advisors to the transaction to evaluate the position and advise the company with its findings within a period of 60 days. Earlier, the DTH operator had told the BSE on 22 December that the effective date of the amalgamation scheme, the filing of the relevant intimation / E-Forms with the Registrar of Companies, Ministry of Corporate Affairs, Maharashtra, Mumbai, would be getting delayed beyond 27 December 2017.
Dish TV said in a filing to the BSE: “In light of the foregoing, the Company is evaluating as to whether there is any impact of the same on its rights and obligations under the definitive agreements, and consequential effects on the transactions contemplated thereunder.”
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