India Infoline.com: Cyber Media India Ltd., India’s largest IT-focused publishing company, said on Wednesday that its Board of Directors has agreed to acquire, in-principal, the business of two of its 100 per cent subsidiaries, Cyber Media Digital Ltd. and Cyber Media Events Ltd.
The company’s Board has also constituted a sub-committee to examine financial and legal viability of the proposal and submit a report on the same at a later date along with a draft scheme, if considered viable, Cyber Media said.
In addition, the Board of Cyber Media has also granted and in-principle approval to introduce ESOS/ESPS for the benefit of the group’s employees. It has instructed the remuneration committee to make recommendation to the Board in this matter and submit a scheme, if considered appropriate.
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