Big FM to be listed as Reliance Media World Ltd
Big FM, the radio business of Adlabs Films Ltd (AFL), has been demerged from AFL into Reliance Unicom Ltd pursuant to the approval of the scheme of arrangement under Sections 391 to 394 of the Companies Act, 1956 (‘Scheme’), which was approved by the High Court of Judicature at Mumbai by its orders dated April 4, 2009. The Ministry of Information and Broadcasting has also given its approval to the Scheme on May 29, 2009. The scheme has been made effective on June 30, 2009, with effect from the appointed date, April 1, 2008.
Big FM, the radio business of Adlabs Films Ltd (AFL), has been demerged from AFL into Reliance Unicom Ltd pursuant to the approval of the scheme of arrangement under Sections 391 to 394 of the Companies Act, 1956 (‘Scheme’), which was approved by the High Court of Judicature at Mumbai by its orders dated April 4, 2009. The Ministry of Information and Broadcasting has also given its approval to the Scheme on May 29, 2009. The scheme has been made effective on June 30, 2009, with effect from the appointed date, April 1, 2008.
The name of Reliance Unicom Ltd has thereafter been changed to ‘Reliance Media World Limited’ on July 22, 2009. The radio business stands de-merged from AFL and transferred to and vested in Reliance Media World Ltd.
The shareholders of AFL as on August 7, 2009 will be given one equity share of Reliance Media World Ltd for every equity share held by them in AFL. Reliance Media World Ltd will thereafter be listed on the Bombay Stock Exchange and the National Stock Exchange.
