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Hyderabad, July 10

Color Chips India Ltd has proposed to merge its entities to form a mega company and give greater value to its shareholders. In a notice to the BSE, the company said a meeting of the board of directors will be held on July 16, to consider the proposal to merge Color Chips India Ltd, Color Chips Animation Park Ltd, and Millitoon Animation Pvt Ltd with Color Chips New Media Ltd. The merger is being proposed in order to avoid conflict of interest amongst the companies and to c reate better value for the shareholders, the notice from the company said.

— Our Bureau

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