Regulatory18 Jul 2026, 02:00 pm
MIB Approves Transfer of 4 FM Stations to ENIL Subsidiary
AI Summary
Entertainment Network (India) Ltd (ENIL) has received approval from the Ministry of Information and Broadcasting (MIB) to transfer four identified FM Stations assets (Kanpur 91.9 FM, Lucknow 107.2 FM, Nagpur 91.9 FM, and Hyderabad 104 FM) to its wholly owned subsidiary, Alternate Brand Solutions (India) Limited (ABSL). This transfer is subject to ABSL fulfilling certain conditions, including submitting fresh Performance Bank Guarantees for each FM channel, a certified board resolution delegating power of attorney, no-dues certificates from AIR and BECIL, and stamp paper for the fresh Grant of Permission Agreement (GOPA) for the balance period of Phase-III permission.
Key Highlights
- MIB approves transfer of four FM stations to ENIL's subsidiary.
- Transfer includes stations in Kanpur, Lucknow, Nagpur, and Hyderabad.
- Subsidiary ABSL must meet conditions before fresh GOPA execution.
- Conditions include submitting PBGs and no-dues certificates.
Price Impact
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