Latest News | Airtel Shareholders Approve VSAT Operations Merger Scheme
Get latest articles and stories on Latest News at LatestLY. Bharti Airtel's shareholders have approved a proposed scheme of arrangement between Airtel, Bharti Airtel Services, Hughes Communications India and HCIL Comtel, with 99.98 per cent of votes cast in favour of the merger.
New Delhi, Aug 4 (PTI) Bharti Airtel's shareholders have approved a proposed scheme of arrangement between Airtel, Bharti Airtel Services, Hughes Communications India and HCIL Comtel, with 99.98 per cent of votes cast in favour of the merger.
In May last year, telecom operator Bharti Airtel and Hughes Communications India Ltd (HCIL) said they will combine their VSAT (very-small-aperture terminal) satellite operations in the country, with Hughes holding a majority stake in the merged entity.
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In a filing on Tuesday, Bharti Airtel informed the BSE about the details of voting results of court-convened meeting that was held on July 31, where the scheme of arrangement was put to vote.
Within the promoter and promoter group, 100 per cent of votes cast were in favour of the scheme.
In case of public institutions and public non-institutions, votes cast in favour were 99.96 per cent and 99.99 per cent, respectively.
With the shareholders' nod in place, NCLT will now be approached for the final approval, a source said.
The meeting held was as per the order of the principal bench of the National Company Law Tribunal (NCLT) at New Delhi.
Earlier, the NCLT directed a meeting of the shareholders of Bharti Airtel for approval of the proposed composite scheme of arrangement between Airtel, Bharti Airtel Services, Hughes Communications India and HCIL Comtel and their respective shareholders and creditors. PTI MBI ANZ HRS 08042037 NNNN played a competitive game since March 11 when it faced Borussia Dortmund in the second leg of the Champions League round of 16.
Saint-Étienne's previous match was three days earlier in the French league, before it was canceled with 10 rounds remaining on April 30.
Despite having an extra player, PSG hardly threatened in the second half other than a couple of speculative shots well saved by Moulin. AP
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)