The Business Development Department (BDD) has explained that the status of iTV Public Company is “currently operational”, which has no legal definition, but means that it is a corporate entity which was registered in accordance with the Public Company Act.
The company has not changed its status, such as entering receivership, going bankrupt, delisting from the system or registering for termination of operations, said BDD Director-General Thosapone Dansuputra today (Friday).
The status does not indicate whether that the company is or is not engaged in business activities. If it is engaged in any business activities, the information will show up in the financial statement, said the BDD chief, as he attempted to explain the legal status of iTV, especially regarding its financial statements, in the wake of the latest controversy about whether iTV is still a media company.
“Compare it to the status of a human being, it is like a man who was born and is alive. He may or may not be working,” he said.
In a statement issued to its shareholders via the company’s website, iTV said, citing the minutes of the April 26th shareholder meeting, that the company did not intend to send a message that it is operating as a media firm, but is operating in accordance with the objectives that are registered with the BDD and it has not yet folded.
