You will be redirected back to your article in seconds

Takeover attempt hits TIFC

Master Fund wants to remove directors

Viacom-backed Bollywood production house the Indian Film Co. is fighting off what looks like a hostile takeover bid from a fund management group.

Altima India Master Fund has notified TIFC, in which it holds a 14% stake, that it wants to remove Raghav Bahl and Alok Verma as directors and replace them with its own nominees, Aashish Vyas and Atul Setia.

It also has asked TIFC to distribute spare cash in the form of a special dividend payment.

TIFC, which holds Indian theatrical and satellite rights to recent megahit “Ghajini,” will hold a general meeting Feb. 5 to vote on the proposals.

TIFC is listed on London’s Alternative Investment Market and operated by investment management company BK Enterprises, jointly owned by Viacom and Bahl’s BK Media Mauritius.

More Scene

  • Esquire 'Mavericks of Hollywood' party

    Terry Crews on His Sexual Assault Lawsuit: 'If I Don’t Get Justice, Nobody Can'

    Viacom-backed Bollywood production house the Indian Film Co. is fighting off what looks like a hostile takeover bid from a fund management group. Altima India Master Fund has notified TIFC, in which it holds a 14% stake, that it wants to remove Raghav Bahl and Alok Verma as directors and replace them with its own […]

  • 20th Annual Costume Designers Guild Awards

    'I, Tonya,' 'The Shape of Water' Win at 2018 Costume Designers Guild Awards

    Viacom-backed Bollywood production house the Indian Film Co. is fighting off what looks like a hostile takeover bid from a fund management group. Altima India Master Fund has notified TIFC, in which it holds a 14% stake, that it wants to remove Raghav Bahl and Alok Verma as directors and replace them with its own […]

  • 'Atlanta' TV show premiere

    'Atlanta Robbin' Season' Will 'Show What Makes the City Tick,' Producer Says

    Viacom-backed Bollywood production house the Indian Film Co. is fighting off what looks like a hostile takeover bid from a fund management group. Altima India Master Fund has notified TIFC, in which it holds a 14% stake, that it wants to remove Raghav Bahl and Alok Verma as directors and replace them with its own […]

  • Mr Chow 50th Anniversary celebration

    Mr. Chow 50th Anniversary Party Draws Stevie Wonder, Heidi Klum & More Stars

    Viacom-backed Bollywood production house the Indian Film Co. is fighting off what looks like a hostile takeover bid from a fund management group. Altima India Master Fund has notified TIFC, in which it holds a 14% stake, that it wants to remove Raghav Bahl and Alok Verma as directors and replace them with its own […]

  • Paley Center for Media presents They

    African-American Showrunners Talk Strides in TV Representation

    Viacom-backed Bollywood production house the Indian Film Co. is fighting off what looks like a hostile takeover bid from a fund management group. Altima India Master Fund has notified TIFC, in which it holds a 14% stake, that it wants to remove Raghav Bahl and Alok Verma as directors and replace them with its own […]

More From Our Brands

Access exclusive content