UPDATED: India‘s National Company Law Tribunal (NCLT) Mumbai Bench approved the high-profile merger between Reliance Industries Limited’s (RIL) media arm and Disney‘s Indian entertainment assets on Friday. This follows the approval – that may be subject to so-far unspecified conditions – by the Competition Commission of India on Wednesday.
The NCLT order states that the merger was approved by shareholders and creditors of the involved companies and that regulatory bodies, including the ministry of corporate affairs and the income tax department, raised no objections after clarifications.
Also noted by the NCLT is that while no prior approval is required from the ministry of information and broadcasting for
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