News Headline
MCCS applies for uplink clearance; paid-up capital is Rs 625 million
NEW DELHI: Media Content Communications Services (MCCS) India, the holding company for the Star News venture in India, proposes to have a paid-up capital of Rs 625 million, according to the application submitted to the government today for necessary approvals.
The authorised share capital of the joint venture between the Aveek Sarkar family-controlled ABP Pvt Ltd and Star Group Pvt Ltd, the application states, would be Rs 700 million, while the current paid-up capital is Rs 100,000.
MCCS is the company that would uplink and look after the affairs of Star News from India wherein ABP holds 74 per cent equity stake and Star has a 26 per cent shareholding. The former shareholders of MCCS, including ad man Suhel Seth and Balaji Telefilms chairman and actor Jeetendra, were bought out by ABP.
A senior information and broadcasting ministry official said that the government does not foresee any apparent problems with the new structuring of MCCS. “The structure that we had objected to, has been dismantled. It now looks like a far more real company (than before),” the official added.
So, in effect, it would mean that ABP would be coughing up slightly less than Rs 500 million at the moment, which has been calculated at the rate of 74 per cent of Rs 620.5 million.
This figure is contrary to the figure of Rs 750 million that the media had been reporting, basing most of their observations on an authoritative report filed by a business newspaper two days before the final agreement was signed in Mumbai between Star India CEO Peter Mukerjea and ABP’s Aveek Sarkar last Friday.
A Star source told indiantelevision.com that in the coming months the investments would be ramped up and the paid-up capital is in consonance with the valuation of the company.
Meanwhile, Sarkar would be the chairman of the restructured MCCS that would have an eight-member board. The other members will include Aveek’s brother Arup Sarkar, ABP’s CEO A Lahiri, Star India CEO Peter Mukerjea, Star India CFO G Subramaniam, senior journalist and former editor of The Statesman and The Indian Express S Nihal Singh, Naresh Chandra and one yet-to-be nominated member.
However it is not clear whether the last three, including a yet-to-be-nominated person, are representatives of ABP Pvt Ltd or independent board members. Still, industry sources pointed out that the last three people are likely to be ABP nominees considering the board representation would have to be in the ratio of 6:2 as per the shareholding pattern.
MCCS filed its application for government approvals today afresh after the restructuring, including one with the Foreign Investment Promotion Board for bringing in foreign direct investment of 26 per cent from the Star Group. There are no FII, NRI or overseas corporate body (OCB) investments in the MCCS at the moment, the application states.
A government official pointed out that it may not be possible to get the whole process cleared within the deadline of 28 September as various clearances, including police verifications for new board members of MCCS, were needed. “I don’t think so (that the I&B ministry would be able to clear the application by Sunday),” the government official said to a pointed question on the time likely to be taken for processing the Star News application. He added, “But we don’t expect any real problem with the new application.”
So, Star News, the brand name that has been leased out to MCCS for an undisclosed amount, would continue to be on air with its motto of keeping the viewers’ needs and choices ahead (‘Aap ko rakhe aage’).
Having got the controversies behind it – and permanently too – it now needs to be seen whether the news channel can give the leader Aaj Tak, from The India Group, a real run for its money.
NEW DELHI: Hamdard Laboratories gathered a cross-section of India’s achievers in New Delhi on Friday, handing out the Hakeem Abdul Hameed Excellence Awards to figures who have left their mark across healthcare, education, sport, public service and the arts.
The ceremony, attended by minister of state for defence Sanjay Seth and senior officials from the ministry of Ayush, celebrated individuals whose work blends professional success with a sense of public purpose. It was as much a roll call of achievement as it was a reminder that influence is not measured only in profits or podiums, but in people reached and lives improved.
Among the headline awardees was Alakh Pandey, founder and chief executive of PhysicsWallah, recognised for turning affordable digital learning into a mass movement. On the sporting front, Arjuna Awardee and kabaddi player Sakshi Puniya was honoured for her contribution to the game and for pushing women’s participation onto bigger stages.
The cultural spotlight fell on veteran lyricist and poet Santosh Anand, whose songs have echoed across generations of Hindi cinema. At 97, Anand accepted the honour with characteristic humility, reflecting on a life shaped by perseverance and hope.
Healthcare honours spanned both modern and traditional systems. Manoj N. Nesari was recognised for strengthening Ayurveda’s place in national and global health frameworks. Padma shri Mohammed Abdul Waheed was honoured for his research-backed work in Unani medicine, while padma shri Mohsin Wali received recognition for his long-standing contribution to patient-centred care.
Education and social development also featured prominently. Padma shri Zahir Ishaq Kazi was honoured for decades of work in education, while former Meghalaya superintendent of Police T. C. Chacko was recognised for public service. Goonj founder Anshu Gupta received an award for his dignity-centred rural development initiatives, and the Hunar Shakti Foundation was honoured for empowering women and young girls through skill development.
The Lifetime Achievement Award went to former IAS officer Shailaja Chandra for her long career in public healthcare and governance, particularly in the traditional systems under Ayush.
Speaking at the event, Hamdard chairman Abdul Majeed said the awards were a tribute to those who combine excellence with empathy. “These awardees reflect Hakeem Sahib’s belief that healthcare, education and public service must ultimately serve humanity,” he said.
Minister Seth struck a forward-looking note, saying India’s young population gives the country a unique opportunity to become a global destination for learning, health and wellness by 2047.
The ceremony also featured the trailer launch of Unani Ki Kahaani, an upcoming documentary starring actor Jim Sarbh, set to premiere on Discovery on 11 February.
Instituted in memory of Unani scholar and educationist Hakeem Abdul Hameed, the awards have grown into a national platform that celebrates those building a more inclusive and resilient India. For one evening at least, the spotlight was not just on success, but on service with substance.
