ITV closes its operations since 2007 and files lawsuits in opposition to the Prime Minister’s Office

Anupong Chayrith, the Deputy Director of the Public Relations Department of Thailand (PRD/Thai PBS), confirmed on Wednesday that ITV Co., Ltd. has ceased operations since 2007, and likewise, its subsidiary, which offered filming tools leases, has additionally closed down. However, they are sustaining their legal status as they take authorized action towards the Office of the Prime Minister’s Secretariat.
This disclosure comes as Ruangkrai Leekijwattana, the 22nd-ranked candidate on the Palang Pracharath Party’s record for the House of Representatives, who has a reputation of submitting quite a few complaints, accused Pitha Limjaroenrat, the chief of the Move Forward Party, of holding shares in media firms, which disqualifies him from being a member of the House of Representatives or a government minister. Pitha has gained recognition in current election surveys slated for May 14.
In a Facebook submit, the Thai PBS Deputy Director offered seven points confirming ITV and its subsidiary have ceased operations based on ITV’s 2022 annual report. The first six factors are presented from the annual report, while the seventh level is Anupong’s personal opinion:
1. ITV terminated its tv station operations at midnight on March 7, 2007, following the cancellation of contracts by the Prime Minister’s Secretariat.
2. The Stock Exchange of Thailand (SET) delisted ITV shares from buying and selling on July 24, 2014.
3. The firm is at present involved in a authorized dispute with the Prime Minister’s Secretariat, resulting from a call of an arbitration panel that said the contract termination was illegal and ordered the Secretariat to pay THB 2,890 million (US$87 million) in damages.
four. The Secretariat later filed a lawsuit with the Administrative Court to revoke the ruling of the arbitration panel, which the court docket dismissed.
5. In Refund , the Secretariat appealed the decision of the Administrative Court, and the case is now pending consideration by the Supreme Administrative Court.
6. In the 2022 financial yr, ITV earned revenues of THB 20.5 million (US$617,000) from its investments and curiosity income and had a net revenue of THB 8.5 million (US$256,000).
7. ITV has one subsidiary, Artware Media Co., Ltd., which used to lease tv manufacturing equipment, produce TV shows, trade film and TV program copyrights, and have interaction in different marketing actions. The company’s present status is listed as having ceased operations.
The main shareholder group that presently influences the coverage and operation of ITV is InTouch Holdings Public Company Limited..

Leave a Comment