| According to TV18, the aforesaid restructuring was
necessitated on account of a change in business model and shifting
of value of the company's overseas investment into its own business,
due to change in government guidelines for uplinking of foreign news
channels from India.
Last year, the board of directors of TV18 had approved alteration
of the company's bylaws to enhance its authorised capital and provide
flexibility for capital restructuring, the sale of business news
undertaking and investment to its subsidiaries. It was than placed
before Delhi High Court in accordance with due procedure required
under law.
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