Baba Arts Limited has scheduled a Board of Directors meeting for October 9, 2026, to formally conclude the change in management and control. The agenda includes accepting the resignations of existing directors and key managerial personnel, appointing nominees of the Acquirer, and approving the Board’s Report and Notice for the 27th Annual General Meeting (AGM).

This development follows the earlier deferment of AGM approvals, which was pending the completion of a major share acquisition transaction. The Board had previously cited the incomplete status of the Open Offer launched by Skybridge Interactive LLP as the reason for delaying the approval of FY26 financial documents.

Management Restructuring Agenda

The upcoming meeting aims to operationalize the transition of control pursuant to the Share Purchase Agreement (SPA) dated February 25, 2026, between Skybridge Interactive LLP (the Acquirer) and Mr. Gordhan P. Tanwani (the Promoter Seller). The specific business items to be transacted include:

1. Taking note of the acquisition of the Promoter's shareholding by the Acquirer under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
2. Appointing the Acquirer's nominees as Additional Directors on the Board.
3. Accepting resignations tendered by existing Directors and Key Managerial Personnel.
4. Reconstituting Board Committees consequent upon these changes.
5. Appointing a new Managing Director and Chief Financial Officer (CFO).
6. Appointing an Internal Auditor for Financial Year 2026-27.

Regulatory Compliance and AGM Finalization

The Board will also approve the report on financials for the year ended March 31, 2026, and fix the date, time, and venue/mode for the 27th AGM. This aligns with the extension granted by the Registrar of Companies (ROC), Maharashtra, which moved the final AGM deadline from September 30, 2026, to November 15, 2026. The ROC approved an additional one month and fifteen days on September 29, 2026, under the second proviso to Section 96(1) of the Companies Act, 2013.

Key Dates and Details

The company stated that the reasons for seeking the ROC extension were detailed in the letter attached with the e-form application submitted to the ROC. No further operational or financial details regarding the delay were disclosed in the public filing beyond the dependency on the open offer completion.

Baba Arts has secured a one-month extension from the Registrar of Companies (ROC) to hold its 27th Annual General Meeting (AGM), pushing the new deadline to October 29, 2026. The ROC, Maharashtra, Mumbai, granted the approval on August 21, 2026, under Section 96(1) of the Companies Act, 2013.

The company had originally applied for a three-month extension, seeking to delay the meeting until December 31, 2026. However, the ROC approved only a one-month extension, citing the pendency of management change consummation as sufficient grounds for the shorter period.

Revised Timeline and Regulatory Compliance

The original due date for the AGM regarding the financial year ended March 31, 2026, was September 30, 2026. With the ROC's order dated August 21, 2026, the company now has until October 29, 2026, to convene the meeting. The Board of Directors must fix the final date, time, and venue, and intimate the exchange in accordance with Regulations 30, 34, 42, and 44 of the SEBI Listing Regulations, 2015.

Context for Delay

The delay is attributed to the ongoing consummation of a change in management and control. This process stems from a Share Purchase Agreement dated February 25, 2026, and the associated Open Offer. A substantial portion of the business proposed for discussion at the AGM is contingent upon the completion of these transactions.

Impact and Disclosures

Baba Arts stated that the extension will have no adverse impact on its operations or financial position. The audited financial results for FY26 have already been approved and published in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company disclosed this development pursuant to Regulation 30 read with Regulation 30(6) of the SEBI Listing Regulations, 2015. The ROC advised the company to be careful in future compliance with the provisions of the Companies Act, 2013.