SUN TV to enter into aviation business

SUN TV Ltd has initiated a clutch of ordinary and special resolutions to be approved by the shareholders of the company through postal ballot. The company has planned to increase the authorised share capital to enable the company undergo stock-split and issue of bonus shares to the shareholders.

Apart from this, the company is planning to alter the memorandum of articles to enable the company enter into new business areas including Direct to Home Broadcast, Direct Satellite Service, Internet, I.P.TV, Broadband, Telephone, Telephony, Cell Phone, Radio (all dimensions), CVD, DVD, Laser Disc, Inflight, Airborne, Railborne Seaborne, Terrestrial Television Broadcast (all dimensions) etc.

The company has also announced the below in the postal ballot: 'To purchase, take on lease and / hire or otherwise, own, employ, maintain, work, manage, control, let on hire, charter, lease all forms of aerial conveyance for the purpose of transporting or carrying passengers, baggage, mail and freight and merchandise of all and every kind and description whether as principals, agents or otherwise on national and international routes and to maintain, operate and provide chartered domestic and international aviation services, scheduled domestic and international aviation services both for commercial and non commercial purposes in India and outside India.'

With this announcement the company might launch its own airlines or takeover existing operations of any airline.

Source : Equity Bulls

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