Digicable to absorb subsidiaries with itself

MUMBAI: Digicable Network (India), which is being acquired by Reliance Communications in an all-stock deal, has proposed to absorb its cable TV subsidiaries across the country with itself.

The subsidiaries that would be amalgamated include Life Style Communications (cable network in Hyderabd), Central India Digital Network (Jaipur), Digi Multinational Network (Delhi), Digi Ruby City Network (Hyderabad), Digi Maharaja Network, Digi Raigadh Network, Digicable Central (India) Cable Network and Digi Corporate Services ( a services company).
The decision to amalgamate all the subsidiaries will enable Digicable Network to have a strong financial and operational structure. Digicable will be capable of mobilising resources and the financial consolidation will be necessary to withstand the new competitive environment.

The amalgamated company will, thus, have the benefit of synergy and stability of operations, helping it to achieve economies of scale through efficient utilisation of resources and facilities. The companies concerned would be able to combine their resources, expand their activities, rationalise and streamline their management, business and finances as well as eliminate duplication of work to their common advantage.  
The Bombay High Court is seeking the nod from the unsecured creditors to the Scheme of Arrangement. The appointed date of the Scheme will be 1 April 2009.

Digicable will take up the debts, liabilities, duties and obligations of the companies that are to merge under the Scheme.

The authorised share captal of Digicable is Rs 1 billion, divided into 20 million equity shares of Rs 10 each and 80 million redeemable preference shares of Rs 10 each.

Latest Reads
Highly-beneficial interactions take place at Broadcast India '16

The 26th Broadcast India Show concluded over the weekend in Mumbai, and was easily the most exciting Broadcast India Show yet. With thousands of eager, high-quality trade visitors swarming the show floor, a sentiment signalling highly-beneficial exchanges and interactions echoed through the halls...

Technology Software Applications
India, China to propel APAC, beat CAS Europe market share

APAC is expected to overtake the market share of Europe in future due to an increasing demand for digital TV set-up boxes in countries such as China and India. North America and Europe dominated the global CAS market in 2015. APAC region is estimated to mark a growth rate of 12.0 per cent CAGR...

Technology Hardware Set-top Boxes
India lucrative market for 4K UHD STBs: Grand View Research

Here’s a view on the demand for 4K or ultra high definition (UHD) set-top boxes (STBs) in India.

Technology Hardware Set-top Boxes
Infor appoints Dass as south Asian subcontinent V-P

Infor, a leading provider of business applications specialized by industry and built for the cloud, has appointed Ashish Dass as the vice president and managing director for the south Asian subcontinent. Infor software helps eliminate the need for costly customization through embedded deep...

Technology Software Applications
Siti & DishTV opt for Conax conditional access

The Essel group has been using Conax’s tech for sometime now for its Siti Network (earlier known as Siti Cable). Now the group has extended that partnership for another product for both Siti Network and DTH operator Dish TV India. This time it is for the cardless set top boxes that the two are...

Technology Hardware Set-top Boxes
Imagine Communications extends functionality of Selenio One unified transcoding platform to OTT

MUMBAI: Imagine Communications, empowering the media and entertainment industry through transformative innovation, today introduced a high-density adaptive bitrate (ABR) transcoding product built on Selenio One™, the company’s software-defined linear transcoding platform. Selenio One is designed...

Technology Hardware Components
DJI Makes Your Smartphone Smarter with the New Osmo Mobile

DJI, the world leader in creative camera technology, Thursday launched the Osmo Mobile, an extension for smartphones that turns them into intelligent, precision camera systems.

Technology Hardware Components
Prime Focus Tech gets funding from PE firm Ambit Pragma

MUMBAI: Prime Focus Technologies (PFT) – the technology offshoot of media services company Prime Focus - informed the Bombay stock exchange today that it had received its first round of funding from growth capital private equity fund Ambit Pragma.

Technology Software Applications
Three new products developed by C-DOT launched on its Foundation Day

Communications Minister Manoj Sinha today expressed the hope that 100,000 Gram Panchayats (GPs) will be connected through Optical Fibre Cable (OFC) by March next to set up a network infrastructure to serve the rural masses.

Technology Hardware Distribution

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories