PVR-INOX gets NCLT approval for merger

13 Jan 2023 , 08:54 AM

The National Company Law Tribunal (NCLT) on Thursday has approved the amalgamation of two multiplex chains — PVR Limited and INOX Leisure.

The Mumbai bench of NCLT has cleared the scheme of amalgamation between INOX Leisure (transferor) and PVR (transferee company), PVR said in a regulatory filing.

‘NCLT, Mumbai Bench, has allowed the proposed scheme on January 12, 2023,’ it said. The merged entity, to be known as PVR-INOX, will become the largest film exhibition company in India, operating 1,546 screens across 341 properties in 109 cities, according to the merger announcement made earlier.

Further, the branding of existing screens will continue as INOX and PVR, respectively. Only new theatres opened post the merger will be branded as PVR-INOX.

For feedback and suggestions, write to us at [e-mail]