ITV

Tag: Salem

  • TN assembly okeys cable bill; to implement phase-wise

    MUMBAI: Tamil Nadu Assembly has approved the state government take over of the administration of cable television network (Including Multiple Service Optical Transport System) bill, 2006. 
    The proposed law on cable television networks envisages phase-wise acquisition of the operations of eight large Multi-System Operators (MSOs) including Sun Network’s Sumangali Cable Vision (SCV), and Hathway of the Rajan Raheja group.
    The initial phase will cover cities Chennai, Coimbatore, Madurai, Tiruchi, Tirunelveli and Salem. According to chief minister Jayalalita, the implementation of the law will be done in phases to set right the deficiency and faults in the service offered by the cable TV networks.
    Speaking at the assembly, the CM also said that the law was aimed at correcting the imbalances and deficiencies in service offered by the MSOs. 

    Also read:
    Tamil Nadu moves to acquire Sumangali, Hathway in state 
    Tamil Nadu government move ‘politically motivated’

  • Deccan Chronicle acquires Odyssey for Rs 612 million

    Deccan Chronicle acquires Odyssey for Rs 612 million

    MUMBAI: Deccan Chronicle Holdings (DCHL) has acquired the Odyssey retail chain company in an all cash deal of Rs 612 million.

    DCHL informed the Bombay Stock Exchange (BSE) that in pursuant with the agreement executed with Odyssey India Ltd, the company incorporated under the Companies Act 1956 with all its branches where ever situated to acquire and take over and merge the business with all its rights, assets and liabilities recorded in its book as on 5 September, 2005 with effect immediately.
     
     
    The company has acquired 100 per cent, 1,15,14,140 equity shares of Re 1 each of Odyssey India LTD for a total cash consideration of Rs 612 million from the promoters of Odyssey India LTD and such other persons acting in consent besides financial investors.

     
    Odyssey is a leisure retail chain sells books, music, toys, greeting cards and FMCG products of leading domestic and international brands. Odyssey has 50,000 sqft of retail space in 12 locations in six cities – Hyderabad, Trichy, Chennai, Coimbatore, Varansai and Salem.