NCLT lists Star India-Viacom18 merger plea hearing on Aug 1 for final disposal: Report
The tribunal has reportedly instructed both parties to issue fresh notices of final hearing to governments, tax authorities and regulatory bodies
The National Company Law Tribunal (NCLT) has listed Star India and Viacom18’s merger plea hearing for August 1 for its final deposal, said a news report.
It added that in an order sheet of the July 11 hearing, the division bench of technical member Anu Jagmohan Singh and judicial member Kishore Vemulapalli asked both sides to issue fresh notice of the final hearing to state and central governments, tax authorities and the Competition Commission of India (CCI) and the Ministry of Information and Broadcasting.
NCLT also reportedly instructed the parties to ensure that the notices contain a statement that says if they do not respond in 30 days, it will be presumed that the authorities have no objections to the scheme.
After the scheme gets sanctioned by NCLT, the parties will need CCI clearance. The Star India and Viacom18 merger is reportedly under CCI scrutiny due to its potential impact on broadcasting and streaming businesses.
the potential impact it will have on the TV broadcasting and streaming businesses.
