Download Document(31 KB) 2. The MIB vide its letter dated February 27, 2004 has subject to certain conditions, given its no objection to the Initial Public Offering (“IPO”) which inter-alia includes the condition that the company shall continue to fulfill the revised eligibility criteria under the Guidelines for Uplinking of News and Current Affairs TV Channels from India and only 26 % FDI of the paid up equity is allowed. Other forms of foreign investment are not permitted. 3. Our Prospectus dated April 30, 2004 also stated the following in this regard: “As per conditions mentioned in the MIB approval dated February 27, 2004, we are not offering shares in this Issue to persons resident outside India including FIIs, NRIs and companies in which there is majority ownership and control by persons resident outside India.” 4. Further, we wish to state that persons resident outside India including FIIs, NRIs and companies in which there is majority ownership and control by persons resident outside India cannot buy or sell or trade or deal in the shares of the Company. 5. Further, for complying with March, 2003 Guidelines and the August 2003 Revised Guidelines, we wish to bring to your notice that we reserve our right to rectify the register of members, as and when such breach come to our notice. The Company will take due action in this regard only on the basis of the data made available to us by the Registrars from the share transfer related documentation and no other mode. PUBLIC, INVESTORS AND BROKERS SHOULD TAKE DUE NOTE OF THE ABOVE IN DEALING/TRADING IN COMPANY’S SHARES TO AVOID INCONVENIENCE TO THEM. << Back