Dish TV has taken a view to fully study the relevance and impact of the Proceedings on this transaction and, accordingly, on 11th January 2018, notified the same to stock exchanges in India.
The Company, for abundant caution, would like to further clarify that:
1. The Proceedings are initiated only against VIL and VTL.
2. Videocon d2h has not provided any guarantees with regards to any loans subject matter of the Proceedings.
3. The promoters of the Company have intimated to the Company that they have provided a very small number of their respective shares in the Company as an additional collateral to the loans subject matter of the Proceedings.
4. Mr. Saurabh Dhoot, the Executive Chairman of Videocon d2h, is neither an employee of VIL or VTL nor a guarantor to any of the loans which are subject matter of the Proceedings.
Based on this development, the Company is unable to notify the effective date of the Scheme until a final view is taken jointly by Videocon d2h Limited and Dish TV.
The Company shall update the development as soon as possible.
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