Hinduja Ventures’ subsidiary receives NCLT nod for demerger

Grant Investrade (GIL), a wholly-owned subsidiary of Hinduja Ventures and IndusInd Media and Communications (IMCL), a subsidiary of the company, has received NCLT approval for the scheme of arrangement.
 
As per the scheme of arrangement, GIL will demerge its Headened-in-the-Sky business undertaking into IMCL with effect from October 1, 2016. On receipt of the certified copy of the order, IMCL and GIL will proceed to file the same with the registrar of the companies and the scheme will be made effective.
 
Hinduja Ventures is engaged in trading of electronic equipments, and treasury and investments. The company’s segments include media and communications, real estate, investments, and treasury. The media and communications’ segment consists of various media-related activities.