SITI Networks appoints Raj Kumar Gupta as Independent Director

Posted in:

SITI Networks on Friday ratified the appointment of Raj Kumar Gupta as Additional Director in the category of Independent Directors with effect from February 5, 2021. The appointment has been done on the basis of the recommendation of the Nomination and Remuneration Committee confirming that Raj Kumar Gupta is not debarred from holding the office of Director pursuant to any SEBI order.

Raj Kumar Gupta is a Commerce Graduate from BITS University, Pilani and a Chartered Accountant. A veteran in Finance and Accounts Profession with experience of over 5 decades Gupta is a Senior Partner of Gupta Raj and Co Chartered Accountants providing Finance, Audit & Taxation services to various Business Houses.

SITI Networks has also approved the sale of 6,667 equity shares held by Variety Entertainment in the equity share capital of Voice Snap Pvt Ltd at an aggregate consideration of Rs 10 crores.

The Board is of the view that the technology and expertise of Voice Snap can not be used for the business of the Company or Variety Entertainment or any other group company/subsidiary of the Company. Moreover, since Voice Snap uses Primary Rate Interface (“PRI”) lines of telecom at core of their solution. The Board is of the view that it may not bring in synergies and future growth of Variety or the Company or any other group company subsidiary of the Company,” said SITI Networks in a regulatory filing.

DreamDTH is the source for breaking news and exclusive updates in DTH and Television industry! For the latest news and updates, follow us on Twitter, Google News, Telegram and Facebook. For the latest videos updates, subscribe to our YouTube channel.

Avatar of Basil Kannagi Arasu
Basil Kannagi Arasu

Editor-in-chief

Basil currently works as the Editor-in-chief at DreamDTH. He likes to write and cover the latest happenings in the Media and Entertainment Industry in India. You can always find him browsing his phone.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Visit our forums

Join the discussions with thousands of active members who share the same interests as you and learn something new...