NCLT clears Bharti Infratel Indus Towers merger

first_imgNew Delhi: The Chandigarh bench of National Company Law Tribunal (NCLT) has approved the proposed merger of telecom infrastructure companies Bharti Infratel and Indus Towers. “National Company Law Tribunal (NCLT), Chandigarh Bench, vide its order dated May 31, 2019, has sanctioned the scheme of amalgamation and arrangement between Indus Towers Limited (transferor company) and Bharti Infratel Limited (transferee company) and their respective shareholders and creditors under Section 230 to 232 of the Companies Act, 2013,” Bharti Infratel said in a regulatory filing on Sunday. Also Read – SC declines Oil Min request to stay sharing of documents As per the filing, the amalgamation scheme would become effective on the date on which certified copy of the NCLT order is filed with the registrar of companies upon fulfilment or waiver of other conditions prescribed in the scheme. The merger would also require approval from the Department of Telecommunications. In April 2018, Bharti Airtel, and erstwhile Idea Cellular and Vodafone Group had agreed to merge both the tower companies to create a mega company born with an estimated 1.63 lakh towers in 22 telecom circles in the country.last_img read more

Juul move to end vaping advertising in the US not extended to

TORONTO — A commitment by San Francisco-based Juul Labs to no longer promote its e-cigarettes in print, digital and TV advertisements applies only in the United States, not in Canada, a spokesman says.Alex Cerelli of Juul Labs Canada says in an email that Juul Labs is a global company and “this announcement impacts the U.S. only.” He didn’t answer a question about how Juul markets its products in Canada.On Wednesday, the largest e-cigarette maker in the U.S. also announced its CEO, Kevin Burns, will step down and pledged not to lobby against a sweeping ban on vaping flavours proposed by the Trump administration.Juul and hundreds of smaller e-cigarette companies are fighting for their survival as they face two public health debacles linked to vaping: a mysterious lung illness and rising use of e-cigarettes by teenagers.Juul entered the Canadian market in August 2018, vowing to help Canada’s five million adult smokers quit by providing an alternative to combustible cigarettes.It said its Juul devices, USB docking stations and flavoured vaping liquids that contain nicotine would be available for purchase in convenience stores, vape shops and on its e-commerce site.In July, Juul opened its first corporate store in Canada in Toronto. It opened its second in Edmonton two weeks ago.Since 2018, Juul has tried to head off a crackdown in the U.S. with a series of voluntary steps, halting retail sales of several flavours and shutting down its social media presence.The company now faces multiple investigations from Congress, several federal agencies and state attorneys general. This report by The Canadian Press was first published Sept. 25, 2019.— With files from The Associated Press The Canadian Press read more