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HomeNewsCable NewsDEN Networks’ subsidiaryDEN Ambey gets MCA’s approval for merger
Monday, 09 July 2018 13:06

DEN Networks’ subsidiaryDEN Ambey gets MCA’s approval for merger

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The ministry of corporate affairs (MCA) has given its approval to the Cable and broadband service provider DEN Networks’ wholly owned subsidiary DEN Ambey Cable Network for the merger of subsidiaries into the parent company.

DEN Ambey Cable Networks is one of the leading cable network and distribution companies in Uttar Pradesh. It has rolled out its digital cable and broadband in the state.

DEN said in its filing to the BSE: “In continuation of earlier intimation dated 16th January, 2018, wherein, it was informed that the Board of Directors of DEN Networks have discussed and approved merger of eight indirect subsidiary companies (viz., merger of eight wholly owned subsidiary companies of DEN Ambey Cable Network Pvt. Ltd. with DEN Ambey) (DEN Ambey is a subsidiary company of DEN Networks), we wish to inform you that Honourable Regional Director, Northern Region has approved said Composite Scheme of Arrangement u/s 233 of the Companies Act, 2013 (i.e., Fast Track Merger) for merger of eight subsidiaries.”

As per company, the merger will improve operational efficiencies; integrate management functioning, streamline corporate structures and cash flows.

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