Diligent Media Corporation Limited
Diligent Media Corp. Ltd is engaged in the printing and publication of newspapers, magazines, books, inserts, and annual reports. It also publishes online newspaper.
What Diligent files
- Others59
- Board Meeting13
- Important11
- Updates4
- Results2
- New Orders1
Diligent Media's Board approved reducing Preference Share Capital worth ~436.27 Cr. ~173.40 Cr will be adjusted against Inter Corporate Deposits, with the remaining ~262.86 Cr being entirely canceled. This restructures the company's capital.
Company's Board approved a scheme to reduce its Rs 436.27 Cr Preference Share Capital. All 6% NCRPS will be cancelled, with Rs 173.40 Cr adjusted against Inter Corporate Deposits and the remaining Rs 262.86 Cr fully reduced. This reorganizes capital, cutting future liability without impacting equity shares.
Company's Board approved a Scheme to reduce Preference Share Capital by ₹436.27 Cr. This offsets ₹173.40 Cr against Inter Corporate Deposits, enhancing liquidity and cutting future liabilities. Equity shareholding is unchanged.
Company settled a dispute with Veena Investments via an arbitration award. A liability of over Rs 436 Cr related to Non-Convertible Redeemable Preference Shares is reduced to Rs 173.40 Cr, entirely offset by Veena's outstanding debt. This extinguishes claims with no adverse financial impact.