Nimbus Communications

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Nimbus Communications
Founded1987 (1987)
FounderHarish Thawani
Headquarters
Mumbai
ServicesEntertainment, Sports Marketing & Broadcasting
Website www.nimbus.co.in

Nimbus Communications Limited was an Indian media and entertainment company, and sports broadcaster, known for its Neo Prime and Neo Sports channels. [1] It had integrated, end-to-end media services focusing on Sports broadcasting, marketing, and filmed entertainment. Headquartered in Mumbai, Nimbus was established in 1987 by Harish Thawani, [2] and had a network of customers across the United States, Canada, UK, Asia, Africa, Australia, New Zealand, Europe, and the Middle East. In addition to India, its operations were also spread across Singapore, the Middle East, and the Caribbean.[ citation needed ]

In 2006, the company won a four-year global media rights for cricket with BCCI, at $612.18 million (Rs 2,714 crore). [3] [4] In 2010, The Times of India Group acquired a small stake in Nimbus Communications [5] BCCI was one of their main clients during the 1990s and in the decade of 2010. [6]

In 2018, the Bombay high court ordered the liquidation of Nimbus Communications. According to a lawsuit filed by Union Bank in 2012, Nimbus had failed to pay dues owed on short term loans from UB totaling $375,806,550 (Rs 35 crore). [7]

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References

  1. ↑ "Nimbus Communications plans to raise around Rs 900 crore via IPO in January". The Economic Times . 11 November 2010.
  2. ↑ "Interview with Nimbus Communications Ltd executive chairman Harish Thawani". indiantelevision. 20 June 2003.
  3. ↑ "Nimbus scores big, bags cricket rights for $612 m". The Financial Express . 18 February 2006.
  4. ↑ "New boss, old telecast game". The Telegraph (Kolkata) . 18 February 2006. Archived from the original on 3 March 2006.
  5. ↑ "Times buys stake in Nimbus, Neo Sports". Mint . 22 March 2010.
  6. ↑ "Archived copy". Archived from the original on 27 September 2022. Retrieved 27 September 2023.{{cite web}}: CS1 maint: archived copy as title (link)
  7. ↑ Vyas, Maulik (12 March 2018). "HC orders winding up of Nimbus Communications for defaulting on Union Bank dues". mint. Retrieved 10 January 2023.
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