MUMBAI: Even as media watchers await the detailed order of the Competition Commission of India, (CCI) another hurdle has been cleared by Reliance Industries relating to the merger of Viacom18 and Disney Star India - that of the National Company Law Tribunal (NCLT).

It was on Friday that the NCLT gave it the green signal. Judicial member Kishore Vemulapalli and technical member Anu Jagmohan Singh gave the thumbs up to what will become India’s leading media conglomerate valued at over Rs 70,000 crore.

Reliance owns a clutch of channels including the Colors and Sports 18 brands through its offshoot Viacom18 as well as the OTT platform JioCinema. It is seeking to merge these into Star India creating a giant merged combined entity.

The NCLT has directed the companies to get ministry of information and broadcasting approval before resorting to any such transfer of channels. 

Additionally, it has directed the firms to file the NCLT order and the approved scheme with  the registrar of companies within 30 days as well as approach the superintendent of stamps for stamp duty adjudication, if applicable, within 60 days.