Dish TV Lanka is an overseas subsidiary of the company. Accordingly, the said subsidiary company ceases to be the subsidiary of the company effective from September 28, 2022.
Union Network International Pvt Ltd has agreed to acquire the said stake in Dish TV Lanka.
The consideration will be approximately 25 million Sri Lankan rupees, subject to relevant legislation and required modifications, and will be received following the completion of share transfer requirements.
The Share Sale Agreement was signed on March 30, 2021, after Board approval on January 29, 2021, said the company.
Further, the company also informed that the board has approved the appointment of Rajeev Kumar Dalmia as an Additional Director effective from September 28, 2022.
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