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The merger scheme has two stages: the transfer of Viacom18 s TV and streaming assets to Digital18 and the demerger and vesting of these assets from Digital18 to Star India. As consideration for the scheme, Viacom18 will transfer streaming platform JioCinema to Digital18, which will pay the company a consideration of Rs 24,186 crore through an allotment of 24.18 billion fully paid-up shares of Rs 10 each. ....
The hearing was postponed on February 21 because the Indian Performing Right Society (IPRS), which opposes the scheme, has informed the NCLT that its application challenging the tribunal s dismissal order dated February 9 has been held for judgment by the National Company Law Appellate Tribunal (NCLAT). ....