Nettlinx applise for broadcasting license

Nettlinx Ltd has informed that one of the Company's 100% wholly owned subsidiary Company i.e. M/s. Nettlinx Channel Pvt Ltd, Hyderabad applied to Ministry of I&B for the License to set up Broadcasting Teleport and T.V. Channels.

As per one of the conditions stipulated under Foreign Exchange Management Act, the holding Company can not holding more than 24% of Foreign Share Holding. In this connection the Company bring to notice that the Company is having Foreign shareholding of 1.05% as on August 17, 2007.

As per the request of Foreign Exchange Management Act, the Company undertake that foreign shareholding in the Company i.e. M/s Nettlinx Ltd will be Freezed at 24%.