HC approves demerger of Zee's direct consumer biz.
Economic Times (New Delhi, India), January, 2007
Jan. 16--MUMBAI, India -- Zee Entertainment on Monday said the Bombay High Court has approved the demerger of its direct consumer business.
The High Court of Judicature of Bombay's approval for the demerger will allow Zee to set the record date -- the day for updating its books to list the company's investors -- and also unlock the potential of the company.
The company is to be renamed as Dish TV India Ltd. It is among India's first direct-to-Home service provider reaching about 1.6 million homes.
Zee chairman Subhash Chandra recently told Economic Times that Dish TV plans to raise about Rs 400 crore by diluting about 10 percent of its equity stake, to part finance future plans that include extending direct-to-home services onto various...
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