Siti Cable Network, the multi-system operator (MSO) in India, will soon change the name of the company to Siti Networks Limited. This has been decided after seeking the approval from its shareholders. Casting of votes are open to shareholders who wish to go ahead with the renaming or not.
In addition to conventional method of voting, e-voting facility will also be available. The deadline for the submission of votes is on the 27 July and the results will be delivered on the 29 July. The availability of the company name ‘Siti Networks Ltd’ was approved under Section 4(5) of the Companies Act, 2013, by the Registrar of Companies at the Central Registration ministry of Corporate Affairs.
The reason given for the change of name is the presence of the word ‘cable’. It actually gives the impression the firm is into the manufacture and trade of cable wires. Also, it limits the scope and area of business operation across any city’s boundary.
On the other hand, the ‘Siti’, being distinctive, is popular brand in the media and entertainment industry and it is unique to the company. That is why, according to the company, the specific word ‘Siti’ is enough to differentiate the company from others. Quoted from the company’s statement: “It has thereof, become imperative to change the name of the company to ‘Siti Networks Ltd’ by removing the word ‘cable’ from the name of the company”.