Hathway disinvests stake in Hathway Palampur Cable Network
Hathway has sold its entire shareholding of 51 percent to Preetika Kakkar, one of the existing shareholder of Hathway Palampur.

Multi System Operator (MSO) Hathway Cable and Datacom Limited yesterday in a regulatory filing notified the disinvestment of its entire equity stake of 51 percent i.e 15,300 equity stakes of Hathway Palampur Cable Network for a consideration of Rs 8,10,900. Pursuant to the same, the company has now ceased to be a subsidiary of the company.
Hathway Palampur was a non-operating company with nil contribution to the consolidated turnover of the company as well to its net worth for FY 19 – 20. Hathway has sold its entire shareholding of 51 percent to Preetika Kakkar, one of the existing shareholder of Hathway Palampur.
“Ms. Preetika Kakkar does not belong to Promoter/ Promoter Group/ Promoter Companies. This sale does not fall within Related Party Transaction. Further, the transaction is in the nature of sale of entire (51%) stake in a subsidiary and hence it is not a slump sale,” added Hathway in its regulatory filing.
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