Radio City files scheme of arrangement with NCLT post receipt of approvals from Stock Exchanges

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BSE Limited and the National Stock Exchange of India Limited, vide their letters dated 29th January 2021, have issued their Observation Letters with ‘No adverse observation/ No-objection’, to the proposed Scheme of Arrangement between Music Broadcast Limited and its members which inter alia provides for issuance and allotment of Bonus Non-Convertible Non-Cumulative Redeemable Preference Shares (“NCRPS”) to Non-promoter shareholders of the Company subject to requisite statutory approvals.

Post receipt of the exchanges approval, the Company on February 03, 2021 has filed the said Scheme with National Company Law Tribunal (“NCLT”), Mumbai for its approval.

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