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MUMBAI:
Reliance Adlabs Films has made some modifications in its scheme
of amalgamation and arrangement of its various entities.
The
company has sought the sanction of the Bombay High Court to
amalgamate Entertainment One (India) Ltd (EOIL) with Adlabs
Films. Besides, it has sought the court's sanction to demerge
the digital cinema business of Mukta Arts Adlabs Digital Exhibition
Pvt Ltd (Madel).
Earlier,
the company had proposed to transfer and vest the radio business
venture which operates under the brand name Big FM into Reliance
Unicom Ltd. As it did not get the necessary approval from
the information and broadcasting ministry, the company could
carry forward with the scheme of amalgamation.
An
official press release said that as far as the amalgamation
of EOIL with the company and demerger of digital cinema business
are concerned, no further approval by any authority is required;
the company has made the modification in the scheme of amalgamation.
However,
the board of directors of the company has already approved
the proposal amended vide the board resolution on 13 February.
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