BENGALURU: In September last year, the Balaji Telefilms Limited (BTL) board had approved the demerger of the film production business of Balaji Motion Pictures Limited (BMPL) and merger of Bolt Media Limited (Bolt) with the company. Both the companies are wholly owned subsidiaries of BTL.
With these moves, the company seeks to combine similar business interests, improve capital allocation, enhance operational efficiencies, optimise cash flows, consolidate business operations and streamline the group structure.
BMPL is engaged in the business of production and distribution of motion pictures and films while Bolt is in the business of production of non-fiction, fiction, factual television shows, event management, etc. After the demerger, BMPL will focus on film distribution business, while Bolt is in the same line of business as BTL and its amalgamation with BTL will help in focussed and effective utilisation of production activities.
The company has called for a court convened meeting of equity shareholders of the companies on 24 May 2017 at The Club, 197, D N Nagar, Andheri West, Mumbai. Voting by equity shareholders can be done physically at the court convened meeting at the venue, or by postal ballot or by e-voting.
Shareholders who have opted for the latter two methods of voting can attend the court convened meeting, but they shall not be allowed to vote at the court convened meeting.
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