HC approves merger of HTMT Telecom with Hinduja Ventures

MUMBAI: Hinduja group company Hinduja Ventures today said the Bombay High Court has allowed the merger of HTMT Telecom Pvt Ltd with the company.

The High Court approved the scheme of amalgamation of HTMT Telecom with the company in its verdict dated April 15, Hinduja Ventures said in a filing with the Bombay Stock Exchange.

HVL, the holding company of one of India's largest integrated media companies, currently operates in three major business segments namely media and communications, real estate and treasury.

While the media is the principal business segment of the company which is operated through its subsidiaries, the real estate business relates to a property at Bangalore.

HTMT Telecom was incorporated in 2007 with an aim to establish and operate telecommunication infrastructure consisting cellular mobile telephone services and broadband value added services and to provide telephonic services.

This scheme envisages amalgamation of HTPL into HVL, resulting in consolidation of the business in one entity and strengthening the position of the merged entity, by enabling it to harness and optimise the synergies of the two firms.

Shares of HVL closed at Rs 273.60, marginally up from the previous close on the BSE.