JioStar India moves to merge IndiaCast into parent under fast-track process

JioStar India, the Reliance Industries–Disney joint venture, has proposed merging its wholly owned television distribution subsidiary, IndiaCast Media Distribution, into the parent company through a fast-track process under Section 233 of the Companies Act, according to a report by The Economic Times.

Under the proposed scheme, all assets, liabilities, contracts, employees and ongoing legal proceedings of IndiaCast will be transferred to JioStar India, subject to regulatory approvals. As IndiaCast is a wholly owned subsidiary, the merger will not involve the issuance of shares or any monetary consideration, and the entity will be dissolved without a separate winding-up process once the scheme becomes effective.

The proposed effective date for the amalgamation is April 1, 2025, or another date as approved by JioStar India’s board. The board cleared the scheme on July 14, 2025, and a notice inviting objections or suggestions was filed with the Registrar of Companies on January 23, 2026.

IndiaCast is engaged in aggregating and distributing television channels to cable and direct-to-home operators. It was earlier a joint venture between Viacom18 and TV18. Since then, TV18 has been amalgamated into Network18, while Viacom18 merged with Star India to form JioStar. IndiaCast also distributes channels for Eenadu Television and AETN18, which operates History TV18.

Financially, IndiaCast reported total income of ₹240 crore and a net loss of ₹24 lakh for the financial year ended 2025, compared with income of ₹224 crore and a net loss of ₹2.63 crore in the previous year.

As part of the amalgamation, all intercompany investments, transactions and balances between IndiaCast and JioStar India will be cancelled. The company said the merger is intended to improve operational, managerial and strategic efficiency by consolidating assets and liabilities, rationalising the group structure and reducing administrative, legal and regulatory overheads.

Legal experts note that fast-track mergers under Section 233 typically take two to three months to complete if no objections are raised by regulators, and are increasingly used to simplify corporate structures. StoryBoard18