Takeover attempt hits TIFC
Master Fund wants to remove directors
|
More Articles:
Most Viewed:
Anderson working on 'Master'(6281 views)Sundance unveils competition lineup(5833 views)NBR's best: 'Up in the Air'(3777 views)Comcast, GE unveil NBC U deal(3388 views)Sundance unveils complete lineup(3143 views)Johnny Depp eyes Pancho Villa role(2068 views) |
Altima India Master Fund has notified TIFC, in which it holds a 14% stake, that it wants to remove Raghav Bahl and Alok Verma as directors and replace them with its own nominees, Aashish Vyas and Atul Setia.
It also has asked TIFC to distribute spare cash in the form of a special dividend payment.
TIFC, which holds Indian theatrical and satellite rights to recent megahit "Ghajini," will hold a general meeting Feb. 5 to vote on the proposals.
TIFC is listed on London's Alternative Investment Market and operated by investment management company BK Enterprises, jointly owned by Viacom and Bahl's BK Media Mauritius.
