NCLT adjourns Star India-Novi Digital merger hearing to March 27
The hearing was earlier moved to February 21 after IPRS informed NCLT that its plea against the tribunal's February 9 order is pending judgment by the NCLAT
The National Company Law Tribunal (NCLT) has adjourned the hearing in the merger of Star India and Novi Digital, which owns Disney+ Hotstar, to March 27, as per news reports.
The hearing was earlier moved to February 21 after IPRS informed NCLT that its plea against the tribunal's February 9 order has been held for judgment by the NCLAT.
On February 9, NCLT had rejected IPRS's application and challenged the legal validity of the scheme or arrangement between Star India and Novi Digital Entertainment.
IPRS has claimed that the two parties went ahead with the merger scheme without taking its consent despite IPRS being an unsecured creditor for both entities.
