 7th edition of Eforum Media Ace Awards was held on 2nd November at a star-studded event in Mumbai. Sam Balsara, Chairman of Madison World, was honored with Lifetime Achievement Award and among other key winners were IPG Media Brands Shashi Sinha and Essence Media Com's Naveen Khenka. Securities Applied Tribunal on Monday paved the way for Puneet Goenka to remain the Managing Director of the Merge Z Sony Entity, setting aside the SEBI order barring him from holding any key positions in the entity. However, the market regulator is likely to move to the Supreme Court following this move, said a news report. The 24th annual general meeting of the Indian Broadcasting and Digital Foundation was held on 31st October. K. Madhavan, Country Manager and President of Disney Star was re-elected as the President of the Foundation. In the IBDF Board of Directors meeting that followed the AGM, John Ritters and Kevin Was were co-opted to the Board. Sapphire Media has placed a bid of Rs. 251 crore to acquire Big FM. Radio Minchi is also in the race and has supposedly placed a bid of Rs. 242 crores.