Hathway Cable & Datacom has sold its entire 51% stake in its subsidiary, Hathway Prime Cable & Datacom to Manmohan Singh Bajwa for an aggregate consideration of Rs. 7,80,300/-. With this transaction, Hathway Prime has ceased to be a subsidiary of the company effective from today.
“After receipt of the consideration, the Company has completed the transfer of the equity shares and consequently, Hathway Prime has ceased to be a subsidiary of the Company effective from today,” the communication stated.
“Manmohan Singh Bajwa is one of the existing shareholders of Hathway Prime and does not belong to Promoter/ Promoter Group/ group companies of the Company. The transaction does not fall within related party transaction,” it read further.
