Also, the Bombay Stock Exchange (BSE) and the National Stock Exchange of India had granted in-principle approval for the proposed name change of the company.
HVL said in a regulatory filing to the BSE: “The Ministry of Corporate Affairs (MCA) issued a fresh Certificate of incorporation pursuant to change in name of the Company on October 25, 2019. Accordingly the name of the Company changed to NXTDigital Limited.”
It added: “We will revert to you on completion of other requirements for obtaining your final approval for change in name.”
The board of HVL had approved the Scheme of Arrangement between IndusInd Media and Communications Limited (Demerged Company) and HVL (Resulting Company) and their respective shareholders subject to all statutory/ regulatory approvals and approval of the shareholders.
IMCL business includes digital content distribution using multiple platforms such as satellite and fibre. It also carries Broadband and internet business carried out through its subsidiary OneOTT Intertainment Limited (OIL). IMCL also has a dedicated unit that develops content for various platforms and owns a significant content library and movie negatives.