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Bharti Airtel Ltd. - Outcome of Board Meeting

| Updated on May 07, 2019 Published on May 07, 2019

We wish to inform you that the Board of directors of the Company, in its meeting held on Monday, May 06, 2019, has approved the Composite scheme of arrangement between Bharti Airtel Limited (Transferor Company 1), Bharti Airtel Services Limited (Transferor Company 2), Hughes Communications India Limited (Transferee Company 1), and HCIL Comtel Limited (Transferee Company 2) and their respective shareholders and creditors under sections 230 to 232 and other applicable provisions of the Companies Act, 2013 for: (a) transfer of the VSAT business undertaking of the Transferor Company 1 and vesting of the same with the Transferee Company 1; and (b) transfer of the VSAT business undertaking of the Transferor Company 2 and vesting of the same with the Transferee Company 2, both on a going concern basis by way of a slump sale in accordance with section 2(42C) of the Income-tax Act, 1961.

The details as required to be disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Annexure I of the SEBI Circular dated September 9, 2015, will be intimated separately.

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Source : BSE - www.bseindia.com

Published on May 07, 2019
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