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We are pleased to announce that the process of demerger of the publishing business of Kasturi & Sons Limited (KSL) into a separate entity is complete under the Companies Act 2013, with the sanctioning of the Scheme of Arrangement (Demerger) by the Chennai Bench of the National Company Law Tribunal vide its order dated August 29, 2017.
The process of holding the requisite Board Meetings and Shareholder Meetings has been completed in phases in September 2017.
Mr N Murali has been appointed Chairman and Dr Nalini Krishnan Co-Chairperson of the holding company, Kasturi & Sons Limited. The existing Directors of the pre-merged KSL constitute the Board of the holding company.
Mr N Ram has been appointed Chairman and Dr Malini Parthasarathy Co-Chairperson of The Hindu Group’s publishing company, THG Publishing Private Limited, whose Board has been constituted with the existing Directors of Kasturi & Sons Limited. The Hindu Group’s newspapers, magazines, and digital news media publications are now a part of this company.
Mr N Ravi has been appointed Publisher of The Hindu and the other publications of The Hindu Group.
The demerger came into effect on September 6, 2017 with the adoption of the necessary resolutions confirming the demerger by the Boards of both entities and the filing of the necessary forms with the Registrar of Companies as prescribed under the Companies Act 2013.
All the above changes have come into effect from September 16, 2017.
N Ram
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