Tag: GEC

  • &TV to replace ‘Saubhaghyalakshmi’ with ‘Meri Awaaz Hi Pehchaan Hai’ at 8 pm

    &TV to replace ‘Saubhaghyalakshmi’ with ‘Meri Awaaz Hi Pehchaan Hai’ at 8 pm

    MUMBAI: Zee Entertainment Enterprises Ltd’s (ZEEL) Hindi general entertainment channel (GEC) &TV is all set to launch an ambitious show titled Meri Awaaz Hi Pehchaan Hai produced by Nivedita Basu’s House of Originals. The show, which is slated to go on air from 7 March will air from Monday – Friday at 8 pm.

    According to information available with Indiantelevision.com, Meri Awaaz Hi Pehchaan Hai will be replacing Saubhaghyalakshmi, which will go off air 4 March as it reaches its logical end. Produced by Rashmi Sharma Telefilms Ltd, the show was launched a year back on 2 March, 2015.

    The channel’s new show Meri Awaaz Hi Pehchaan Hai marks the television debut of Bollywood actress Amrita Rao, who portrays the character of Kalyani, whereas Aditi Vasudev will be seen as her younger sister Ketaki.

    Stalwarts like Deepti Naval and Zarina Wahab have been roped in to play the older versions of the two sisters along with Pallavi Joshi, who will be seen making a comeback on TV.

    Meri Awaaz Hi Pechaan Hai will be a finite series and will showcase the musical journey of two sisters – Kalyani and Ketaki – who also happen to be arch-rivals.

    Speaking about the new show, &TV business head Rajesh Iyer said, “At &TV it has been our constant endeavour to present differentiated concepts and Meri Awaaz Hi Pehchaan Hai is in line with this promise. The concept, an untold story set against the backdrop of music, brings in freshness both in terms of storytelling and execution. Moreover, the show brings together a powerhouse of talent from Bollywood and Television adding to the gamut of faces on TV.”

    & TV’s new offering Meri Awaaz Hi Pechan Hai will be pitched against Zee TV’s Tashan-e-ishq, one of Colors’ longest running shows Balika Vadhu, Star Plus’ mythological show Siya Ke Ram, Sony TV’s Sankatmochan Mahabali Hanuman, Life OK’s Jaane Kya Hoga Rama Re and Sab TV’s Bal Veer in the 8 pm time slot.

  • &TV to replace ‘Saubhaghyalakshmi’ with ‘Meri Awaaz Hi Pehchaan Hai’ at 8 pm

    &TV to replace ‘Saubhaghyalakshmi’ with ‘Meri Awaaz Hi Pehchaan Hai’ at 8 pm

    MUMBAI: Zee Entertainment Enterprises Ltd’s (ZEEL) Hindi general entertainment channel (GEC) &TV is all set to launch an ambitious show titled Meri Awaaz Hi Pehchaan Hai produced by Nivedita Basu’s House of Originals. The show, which is slated to go on air from 7 March will air from Monday – Friday at 8 pm.

    According to information available with Indiantelevision.com, Meri Awaaz Hi Pehchaan Hai will be replacing Saubhaghyalakshmi, which will go off air 4 March as it reaches its logical end. Produced by Rashmi Sharma Telefilms Ltd, the show was launched a year back on 2 March, 2015.

    The channel’s new show Meri Awaaz Hi Pehchaan Hai marks the television debut of Bollywood actress Amrita Rao, who portrays the character of Kalyani, whereas Aditi Vasudev will be seen as her younger sister Ketaki.

    Stalwarts like Deepti Naval and Zarina Wahab have been roped in to play the older versions of the two sisters along with Pallavi Joshi, who will be seen making a comeback on TV.

    Meri Awaaz Hi Pechaan Hai will be a finite series and will showcase the musical journey of two sisters – Kalyani and Ketaki – who also happen to be arch-rivals.

    Speaking about the new show, &TV business head Rajesh Iyer said, “At &TV it has been our constant endeavour to present differentiated concepts and Meri Awaaz Hi Pehchaan Hai is in line with this promise. The concept, an untold story set against the backdrop of music, brings in freshness both in terms of storytelling and execution. Moreover, the show brings together a powerhouse of talent from Bollywood and Television adding to the gamut of faces on TV.”

    & TV’s new offering Meri Awaaz Hi Pechan Hai will be pitched against Zee TV’s Tashan-e-ishq, one of Colors’ longest running shows Balika Vadhu, Star Plus’ mythological show Siya Ke Ram, Sony TV’s Sankatmochan Mahabali Hanuman, Life OK’s Jaane Kya Hoga Rama Re and Sab TV’s Bal Veer in the 8 pm time slot.

  • FM players seek FDI at par with GECs since only AIR news permitted

    FM players seek FDI at par with GECs since only AIR news permitted

    NEW DELHI: The Foreign Direct Investment (FDI) in the radio sector should be increased and the government should consider a 15 per cent national ceiling for future auctions and allow news on private FM radio, private FM players have said.

    A Stakeholders’ Consultation on 22 January on the Phase III e-Auction showed that the players wanted a lock-in period of three years on composition of largest Indian shareholder.

    Information & Broadcasting Ministry Secretary Sunil Arora said that the aim of FM Phase III was to enhance radio density in the country and efforts should be made for supporting FM radio to grow into a viable business model. He wanted all stakeholders to give their suggestions and inputs in writing by 30 January if they so desire considering that some stakeholders have already submitted their suggestions in meeting.

    FM operators felt that the reserve prices recommended by TRAI on 24 March 2015 were very high and unviable. However, Ministry officials said the TRAI recommendations were advisory in nature.

    Similarly, it was stated that the rentals by Prasar Bharati were very high.

    It was also argued that the FDI limit could be increased to 100 per cent to bring it at par with the general entertainment channels as no news other than that from All India Radio was permitted.

    This suggestion from Reliance Broadcasting found favour with many of the participants but some companies like ENIL and DB Corp wanted permission to make news bulletins on their own. The Association of Radio Operators in India (AROI) said news from PTI and ANI could be permitted.

    AROI said if subsequent auction takes place in batches without relaxing the 15 per cent national cap, then this cap should be applied on overall number of channels being put to auction in phase III and not batch wise. 

    ENIL found it unreasonable that Phase II migrant licenses were made to undergo three years’ lock-in restriction under Phase III regime as well when they had already served five years’ lock-in under Phase II. But HT Media said the lock-in requirement was fundamental to FM Phase III policy.

    Representative of Digital Radio Broadcasting also suggested that connected companies of a Group be treated as a single entity for participation in online bidding / auction process.

    Suggestions for future rounds included more clock rounds per day; increase of Auction Activity Requirement (AAR); apart from auction report at the end of the day, and report of each round.

    ENIL referred to delay of security clearance of its directors and key operatives from Home Ministry.

  • FM players seek FDI at par with GECs since only AIR news permitted

    FM players seek FDI at par with GECs since only AIR news permitted

    NEW DELHI: The Foreign Direct Investment (FDI) in the radio sector should be increased and the government should consider a 15 per cent national ceiling for future auctions and allow news on private FM radio, private FM players have said.

    A Stakeholders’ Consultation on 22 January on the Phase III e-Auction showed that the players wanted a lock-in period of three years on composition of largest Indian shareholder.

    Information & Broadcasting Ministry Secretary Sunil Arora said that the aim of FM Phase III was to enhance radio density in the country and efforts should be made for supporting FM radio to grow into a viable business model. He wanted all stakeholders to give their suggestions and inputs in writing by 30 January if they so desire considering that some stakeholders have already submitted their suggestions in meeting.

    FM operators felt that the reserve prices recommended by TRAI on 24 March 2015 were very high and unviable. However, Ministry officials said the TRAI recommendations were advisory in nature.

    Similarly, it was stated that the rentals by Prasar Bharati were very high.

    It was also argued that the FDI limit could be increased to 100 per cent to bring it at par with the general entertainment channels as no news other than that from All India Radio was permitted.

    This suggestion from Reliance Broadcasting found favour with many of the participants but some companies like ENIL and DB Corp wanted permission to make news bulletins on their own. The Association of Radio Operators in India (AROI) said news from PTI and ANI could be permitted.

    AROI said if subsequent auction takes place in batches without relaxing the 15 per cent national cap, then this cap should be applied on overall number of channels being put to auction in phase III and not batch wise. 

    ENIL found it unreasonable that Phase II migrant licenses were made to undergo three years’ lock-in restriction under Phase III regime as well when they had already served five years’ lock-in under Phase II. But HT Media said the lock-in requirement was fundamental to FM Phase III policy.

    Representative of Digital Radio Broadcasting also suggested that connected companies of a Group be treated as a single entity for participation in online bidding / auction process.

    Suggestions for future rounds included more clock rounds per day; increase of Auction Activity Requirement (AAR); apart from auction report at the end of the day, and report of each round.

    ENIL referred to delay of security clearance of its directors and key operatives from Home Ministry.

  • BARC Week 3: Bhojpuri Cinema claims lead in Bhojpuri GEC genre

    BARC Week 3: Bhojpuri Cinema claims lead in Bhojpuri GEC genre

    MUMBAI: The third week of Broadcast Audience Research Council (BARC) all India data witnessed Bhojpuri Cinema claiming its leadership position back from Big Magic Ganga, which was the leader in the Bhojpuri GEC genre in week 2. 

     

    On the other hand, other regional channel leaders continued to dominate their respective genres.

     

    Bangala GECs
     

    Star Jalsha remained in the first position with 245951 (‘000s) followed by Zee Bangla in the second place with 147074 (‘000s). Jalsha Movies stayed on the third pole with 66295 (‘000s). Zee Bangla Cinema with 41069 (‘000s) and Colors Bangla with 33826 (‘000s) stood at the fourth and fifth position respectively. 

     

    Bhojpuri GECs

     

    In this week’s data, Bhojpuri Cinema emerged as the number one channel with 20844 (‘000s) followed in the second rung by Big Magic Ganga with 10430 (‘000s), which was in the first slot last week, Dabangg retained its third position with 9327 (‘000s), while Dangal TV with 6703 (‘000s) grabbed the fourth spot. ETV Bihar Jharkhand with 3565 (‘000s) stood in the fifth slot.

     

    Kannada GECs

     

    Colors Kannada retained its leadership position with 298660 (‘000s). Udaya Movies stood at the number two position with 151706 (‘000s) followed by Suvarna with 150918 (‘000s) in third place. While Udaya TV stood in the fourth position with 141511 (‘000s), while Zee Kannada bagged the fifth spot with 137970 (‘000s).

     

    Marathi GECs

     

    In week 3, Zee Marathi maintained its top position with 177406 (‘000s). Colors Marathi grabbed the second slot with 95476 (‘000s) and Zee Talkies stood at number three with 59153 (‘000s). Star Pravah garnered the fourth slot with 45468 (‘000s) and Maiboli was at number five with 22994 (‘000s).

     

    Malayalam GECs

     

    Asianet secured the leadership position in the genre with 375213 (‘000s) followed by Mazhavil Manorama in the second spot with 98950 (‘000s). Following it was Flowers TV with 76016 (‘000s) in the third rung. Asianet Movies came in fourth with 59365 (‘000s), whereas Surya TV with 52931 (‘000s) stood on the fifth berth.

     

    Oriya GECs

     

    Sarthak TV secured the leadership position in the genre with 106117 (‘000s) followed by Tarang TV in the second spot with 53934 (‘000s), while Colors Oriya came third with 20239 (‘000s). Odisha TV bagged the fourth spot with 13923 (‘000s) and Prameya News 7 with 9129 (‘000s) took the fifth berth.

     

    Tamil GECs

    Sun TV retained its leadership position with 969791 (‘000s), while KTV followed in the second position with 282331 (‘000s). Star Vijay stood third with 210192 (‘000s), whereas Polimer with 97732 (‘000s) was in the fourth position. Kalaignar TV bagged the fifth spot with 83628 (‘000s).

     

    Telugu GECs

     

    ETV Telugu emerged as the number one channel in the Telugu GEC genre and grabbed number one position with 400566 (‘000s) followed by Zee Telugu in second place with 388443 (‘000s) and Gemini TV in the third spot with 365872 (‘000s). Maa TV with 352350 (‘000s) bagged the fourth place, while Gemini Movies with 194995 (‘000s) stood at number five.

  • BARC Week 3: Bhojpuri Cinema claims lead in Bhojpuri GEC genre

    BARC Week 3: Bhojpuri Cinema claims lead in Bhojpuri GEC genre

    MUMBAI: The third week of Broadcast Audience Research Council (BARC) all India data witnessed Bhojpuri Cinema claiming its leadership position back from Big Magic Ganga, which was the leader in the Bhojpuri GEC genre in week 2. 

     

    On the other hand, other regional channel leaders continued to dominate their respective genres.

     

    Bangala GECs
     

    Star Jalsha remained in the first position with 245951 (‘000s) followed by Zee Bangla in the second place with 147074 (‘000s). Jalsha Movies stayed on the third pole with 66295 (‘000s). Zee Bangla Cinema with 41069 (‘000s) and Colors Bangla with 33826 (‘000s) stood at the fourth and fifth position respectively. 

     

    Bhojpuri GECs

     

    In this week’s data, Bhojpuri Cinema emerged as the number one channel with 20844 (‘000s) followed in the second rung by Big Magic Ganga with 10430 (‘000s), which was in the first slot last week, Dabangg retained its third position with 9327 (‘000s), while Dangal TV with 6703 (‘000s) grabbed the fourth spot. ETV Bihar Jharkhand with 3565 (‘000s) stood in the fifth slot.

     

    Kannada GECs

     

    Colors Kannada retained its leadership position with 298660 (‘000s). Udaya Movies stood at the number two position with 151706 (‘000s) followed by Suvarna with 150918 (‘000s) in third place. While Udaya TV stood in the fourth position with 141511 (‘000s), while Zee Kannada bagged the fifth spot with 137970 (‘000s).

     

    Marathi GECs

     

    In week 3, Zee Marathi maintained its top position with 177406 (‘000s). Colors Marathi grabbed the second slot with 95476 (‘000s) and Zee Talkies stood at number three with 59153 (‘000s). Star Pravah garnered the fourth slot with 45468 (‘000s) and Maiboli was at number five with 22994 (‘000s).

     

    Malayalam GECs

     

    Asianet secured the leadership position in the genre with 375213 (‘000s) followed by Mazhavil Manorama in the second spot with 98950 (‘000s). Following it was Flowers TV with 76016 (‘000s) in the third rung. Asianet Movies came in fourth with 59365 (‘000s), whereas Surya TV with 52931 (‘000s) stood on the fifth berth.

     

    Oriya GECs

     

    Sarthak TV secured the leadership position in the genre with 106117 (‘000s) followed by Tarang TV in the second spot with 53934 (‘000s), while Colors Oriya came third with 20239 (‘000s). Odisha TV bagged the fourth spot with 13923 (‘000s) and Prameya News 7 with 9129 (‘000s) took the fifth berth.

     

    Tamil GECs

    Sun TV retained its leadership position with 969791 (‘000s), while KTV followed in the second position with 282331 (‘000s). Star Vijay stood third with 210192 (‘000s), whereas Polimer with 97732 (‘000s) was in the fourth position. Kalaignar TV bagged the fifth spot with 83628 (‘000s).

     

    Telugu GECs

     

    ETV Telugu emerged as the number one channel in the Telugu GEC genre and grabbed number one position with 400566 (‘000s) followed by Zee Telugu in second place with 388443 (‘000s) and Gemini TV in the third spot with 365872 (‘000s). Maa TV with 352350 (‘000s) bagged the fourth place, while Gemini Movies with 194995 (‘000s) stood at number five.

  • Q3-2016: TV18 YoY EPS up 31%

    Q3-2016: TV18 YoY EPS up 31%

    BENGALURU: The Mukesh Ambani magic seems to be rubbing off on TV18 Broadcast Limited (TV18) acquired by his group in late May 2014. Be it Business News or GEC, most TV18 channels were rated at No. 1 or 2 as per BARC India ratings for the month of December 2015. In the case of general news, the company’s CNN-IBN was rated at the third spot.

     

    TV18 reported a 31.4 per cent YoY increase in consolidated earnings per share at Rs 0.46 in the quarter ended 31 December, 2015 (Q3-2016, current quarter) as compared to the Rs 0.35. EPS in the current quarter almost quadrupled QoQ (3.83 times) as compared to the Rs 0.12. The company reported net profit after tax (PAT) for the current quarter at Rs 78.29 crore (11.3 per cent margin) as compared to Rs 60.38 crore in Q3-2016 (9.9 per cent margin) and Rs 20.27 crore (3.3 per cent margin) in the immediate trailing quarter.

     

    EPS for the nine-month period ended 31 December, 2015 (9M-2016) was Rs 0.57 as compared to a negative (loss) EPS of Rs 0.30 for 9M-2015. PAT for 9M-2016 was Rs 98.51 crore (5.2 per cent margin) as compared to a loss of Rs 50.94 crore during the corresponding nine-month period of the previous year. The company says that Q3-2016 numbers include operating loss of Rs 45 crore on account of new ETV news channels and Colors Infinity and also a one-time expense of Rs 10 crore for rebranding ETV regional entertainment channels as Colors. Further, 9M-2015 profitability vis-?-vis 9M-2016 was significantly influenced by advertisement income on account of the general elections and the union budget says the company.

     

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore

     

    TV18 reported 14 per cent YoY growth in total income from operations (TIO) in Q3-2016 at Rs 692.42 crore as compared to Rs 607.23 crore and a 13.8 per cent QoQ growth as compared to Rs 608.53 crore. TIO for 9M-2016 increased 12.4 per cent at Rs 1897.63 crore as compared to the Rs 1688.65 crore in the corresponding period of last year.

  • Zee TV’s first fiction presentation of 2016: ‘Meri Saasu Maa’

    Zee TV’s first fiction presentation of 2016: ‘Meri Saasu Maa’

    MUMBAI: With its first new fiction offering for 2016, Zee TV is aiming for a fresh approach albeit with a much saturated concept. The channel is all prepped to launch Meri Saasu Maa on 26 January, which will be aired from Monday to Saturday at 7.30 pm.

    The new infinite fiction show comes from the makers of popular serials like Yeh Rishta Kya Kehlata Hai, Navya and Mahabharat. The show will be produced by Mumtaz Saba Productions — a collaboration between Saba Mumtaz, Siddharth Tewary and Rahul Kumar Tewary of Swastik Productions.

    Explaining the concept behind the show, Mumtaz shares, “Our protagonist is a young 22 year old girl, whose biggest aspiration in life is to find a mother in her mother-in-law. Pari is a Cinderella troubled by her step-mother and siblings, but the only distinction is that she is looking for a mother in her marriage rather than a Prince Charming. She wants a world where her mother will embrace her with open arms every time she enters the house. Pari’s positive thoughts and belief in finding a mother in her mother-in-law will drive her actions. Meri Saasu Maawill be a highly relatable show and every woman out there will empathise with Pari.”
     

    Talking about the new show, Zee TV business head Pradeep Hejmadi adds, “For years, we have seen shows on television exploring the stereotypical relationship of a saas and bahu, where the two are placed at loggerheads, constantly scheming and plotting against each other. Times have changed now and so have relationships. Meri Saasu Maa is our attempt to showcase the changed relationships in society.”

    The show will replace Qubool Hai in the 7.30 pm time slot. Hejmadi adds, “Qubool Hai has been one of our longest running, successful shows with a glorious run of almost three years. We have introduced several exciting sub-plots that have intrigued the audience. It’s now time to make way for another interesting story.”

    With BARC rural inclusive ratings coming in the picture, the industry seems to have woken up to rural and Tier II and III towns, which still enjoy saas bahu sagas over modern contemporary shows. More so, advertisers and content producers are also keen to grab a pie of these eyeballs, which forms almost 50 per cent of BARC’s sample viewership. One can’t help but wonder if the need to cater to these freshly discovered eyeballs is leading broadcasters to return to their tried and tested ‘saas bahu’ formula for GECs.

    “I consider that we are leaders in rural. A lot of the shows we do, we curate from the point of view that the content should also work in LCs and smaller cities and towns, making sure that it resonates with viewers from across markets. We will continue in that direction, keeping our rural and Tier II and III viewers in mind. I feel that in order to achieve that there is no reason to treat a story very differently. Viewers in these pockets are very aspirational, so a familiar storyline that offers a different approach and solution to an issue they relate with, will resonate well with them,” Hejmadi opines on the matter.
     

    Having said that, Mumtaz asserts that she kept viewers beyond the metros in mind when curating content for the show. “With the rural viewership ratings coming in the picture, we tried to keep small towns and rural preference and taste in mind when conceptualising the show. The show also covers the majority of the demography in those markets who are more likely see the show at 7.30 pm. We do a general survey each time before coming up with a show on who’s watching what. We carry it out in metros as well as small markets, and accordingly the show is crafted,” she reveals, adding that the entire process took close to six months to complete.
     

    It is interesting to note that the show’s time slot of 7:30 pm too plays a vital role in targeting a mixed demography and preferred market for the show. “For us, 7.30 pm is an important time slot to place tent pole shows. While curating content we paid special heed to come up with something that resonated with the two demographies — the younger generation, the daughters-in-law and the mothers-in-law, who form the bulk of our viewership in that time frame,” says Hejmadi.

    With the show’s content carefully crafted to strike a chord with both metros and beyond, Zee TV is confident in keeping advertisers happy. The show has already got on board Patanjali as its primary sponsor. “We are in conversation with several other brands to come onboard as sponsors and advertisers for the show,” Hejmadi informs.
     

    “Since most advertisers move according to eyeballs, they are waiting for the numbers to come out as soon as the sow releases and and gains momentum. The response from consumers to the show’s promos has been good and we have received several letters from fans and followers who are eagerly waiting for the show,” he adds.

    So far the channel has released several TV promos that are being heavily pushed through its network channels. “Since the audience we are targeting is a domestic audience that we cater to, it only made sense to heavily promote our show through the network and our electronic arms. Going outdoors with hoardings didn’t fit in our marketing strategy for the show,” Hejmadi says. However, he adds that the show will see some digital presence to reach out to a younger audience that the channel feels can resonate with the contemporary outlook of the protagonist in the show.

    The shows that Meri Saasu Maa will be pitted against on other Hindi GECs in the time slot are: Ye Hai Mohabbatein on Star Plus, Crime Patrol Dial 100 on Sony, Adhuri Kahani Hamari on &TV, Sasural Simar Ka on Colors and Zindagi Abhi Baaki Hai Mere Ghost on Life OK.

  • Zee TV extends its weekday programming to 6 days with ‘Sunehra Shaniwar’

    Zee TV extends its weekday programming to 6 days with ‘Sunehra Shaniwar’

    MUMBAI: Zee Entertainment Enterprises Ltd (ZEEL)’s Hindi GEC Zee TV extended its weekday primetime shows to six days a week from Monday to Saturday. 28 November onwards, the shows on the channel’s 7 to 9 pm  time slot will also  be telecasted on Saturdays.

     

    Zee TV business head Pradeep Hejmadi said, “The objective of extending our weekday primetime properties to Saturdays is to give our audiences more. The move brings our protagonists even closer to our viewers.”

     

    While Satrangi Sasural and Sarojini have already been airing six days a week, popular shows like  Kala Teeka, Qubool Hai, Tashn-e-Ishq and Jamai Raja will now start airing at their respective time slots on Saturdays as well. With the introduction of ‘Sunehra Shaniwar’, Neeli Chhatri Wale will also air every Sunday at 8 pm.

  • Steps taken to allow level-playing field in FDI for all MSOs and LCOs, rules tightened on ownership

    Steps taken to allow level-playing field in FDI for all MSOs and LCOs, rules tightened on ownership

    MUMBAI: In a major step to create a level-playing field, cable operators or multi-system operators who are not undertaking upgradation of networks towards digitalization and addressability will also be entitled to 100 per cent foreign direct investment.

     

    However as in other cases where it has increased the FDI to 100 per cent, entry beyond 49 per cent will be through the government route.

     

    There is also a change in the policy with regard to uplinking and downlinking of channels. The investment will be 49 per cent through the government route with regard to uplink of news and current affairs channels but uplinking of non-news and current affairs channels (GECs) will be 100 per cent through the automatic route. Downlinking of TV channels is also 100 per cent through the automatic route.

     

    The investment for terrestrial FM radio continues to be 49 per cent through the automatic route, subject to such terms and conditions specified from time to time by the Information and Broadcasting Ministry for grant of permission for setting up of FM Radio stations.

     

    These changes have come after a re-assessment of the relaxations allowed in fifteen sectors including broadcasting on 10 November.

     

    It was also clarified that in the I and sector where the sectoral cap is up to 49%, the company would need to be’owned and controlled’ by resident Indian citizens and Indian companies, which are owned and controlled by resident Indian citizens.

     

    The Department of Industrial Policy and Promotion of the Commerce Ministry said for this purpose, the equity held bythe largest Indian shareholder would have to be at least 51% of the total equity, excluding the equity held by Public Sector Banks and Public Financial Institutions, as defined in Section 4A of the Companies Act 1956 or Section 2 (72) of the Companies Act 2013, as the case may be.

     

    The term ‘largest Indian shareholder’ will include any or a combination of individual shareholders, or a relative of the shareholder within the meaning of Section 2 (77) of Companies Act 2013; and a company/group of companies in which the individual shareholder/HUF to which he belongs has management and controlling interest; in the case of an Indian company, a group of Indian companies under the same management and ownership control.

     

    For the purpose of this Clause, “Indian company” will be a company which must have a resident Indian or a relativeas defined under Section 2 (77) of Companies Act 2013/ HUF, either singly or in combination holding at least 51%of the shares.

     

    This is subject to the provision that in case of a combination of all or any of the entities will have entered into alegally binding agreement to act as a single unit in managing the matters of the applicant company.