Aditya Birla Group, through its private investment company, has acquired a 27.5% stake in Aroon Purie-controlled Living Media India Ltd., the promoters of India Today magazine and TV Today Network. Ambit Corp was the advisor to the deal. Media reports place the deal value at Rs. 600-700 crore. Living Media acts as a holding company and owns a 57.46% stake in publicly listed TV Today Network, which runs the Aaj Tak and Headlines Today news channels.
Living Media will use the cash from the deal to expand its presence in media including launching its New Delhi-based tabloid, Mail Today, in other metros, including Mumbai.
The Motor Vehicle Act of 1988 is a comprehensive Act that has replaced the Motor Vehicle Act, 1939. It was implemented on 1st July 1989. The first Act that came in force regulating the road transport More
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