New Delhi, May 26 (UNI) United News of India (UNI), one of the oldest and credible news agencies of the country, is embarking on a journey towards better financial prospects through a Resolution Process set in motion by the National Company Law Tribunal (NCLT).
The 62-year-old media company has been going through financial distress for over a decade and the NCLT has recently initiated the Corporate Insolvency Resolution Process (CIRP) with the goal of turning its fortunes.
The NCLT has appointed Pooja Bahry, a veteran in the insolvency matters, as the Interim Resolution Professional (IRP).
The IRP is tasked with preparing a Resolution Plan and in the near future, she will be inviting prospective investors to pump in the much-needed funds.
“It is indeed my pleasure to be a part of the resolution of this esteemed company.
I look forward to a fruitful resolution of UNI and I truly will try my best to successfully turn around this company,” says Bahry, who took charge as the IRP on May 19.
“I assure you that I will try my very best and to the best of my professional capabilities to find a resolution for UNI, so that the CIRP process can be fruitfully completed and the company again becomes a successful organisation,” she said.
“I am extremely hopeful that an appropriate Resolution Plan will come for the company and the corporate debtor will be revived,” the IRP said.
The process will involve invitation of expression of interest from companies which would be willing to invest in this reputed media firm to clear its liabilities and take it towards a better future.
Founded in 1961, UNI is a multilingual agency which provides news in 3 languages – English, Hindi and Urdu – besides the Photos to over 600 media outlets and others across the country.
In fact, UNI is the only credible news agency in Asia having service in Urdu language and most of the newspapers and news websites in this language are dependent on UNI.
The subscribers of UNI include NDTV, Sun TV, ETV Bharat, HT Syndication, Hindustan (Hindi daily), Dainik Bhaskar, Rajasthan Patrika, Punjab Kesari, Rashtriya Sahara, Saamna, Daily Thanthi (leading Tamil newspaper) and also various state governments, Raj Bhawans and leading political parties.
At present, the company has around 350 employees, including Journalists, Photo-Journalists and Non-Journalists, besides a vast network of stringers up to the level of districts spread across the country.
The agency remains committed to serve its subscribers with quality news in a speedy and accurate manner. With zeal and commitment of its journalists, UNI continuously endeavours to expand its subscriber base and a new investment would help this in a big way.
UNI NK/AKK ARN SSP