B.A.G. Films and Media Limited has incorporated a new step-down wholly owned subsidiary, Skyline FM Radio Network Private Limited, to strengthen its presence in the FM radio broadcasting sector. The entity was registered in Delhi on October 3, 2026, under the Companies Act, 2013.

The new company is a wholly owned subsidiary of Skyline Radio Network Limited (SRNL), which is itself a subsidiary of BAG Films. Consequently, Skyline FM Radio Network Private Limited becomes a step-down subsidiary of the listed entity. The incorporation was disclosed to stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Strategic rationale and operational scope

The primary objective of incorporating Skyline FM Radio Network Private Limited is to establish, own, manage, acquire, and operate FM radio broadcast stations. This move aligns with BAG Films' broader media portfolio, which includes television channels like News 24 and digital platforms. The filing confirms that the industry segment for this new entity is specifically FM Radio Broadcasting.

Financial structure and ownership details

The acquisition of shares in the new entity was executed via cash consideration towards the initial share subscription to the memorandum of association. The shares were subscribed at face value. Skyline Radio Network Limited holds 100% shareholding in the new entity, making it a wholly owned subsidiary of SRNL and a related party to BAG Films.

Regulatory disclosures and approvals

The company stated that no governmental or regulatory approvals were required for the incorporation process itself. As a newly incorporated private limited company, it does not have a history of turnover or operational presence prior to this date. The disclosure was signed by Ajay Mishra, Company Secretary and Compliance Officer, confirming the event's compliance with SEBI Master Circular guidelines.

BAG Films & Media has submitted the consolidated scrutiniser's report and voting results for its 33rd Annual General Meeting, confirming that all 13 resolutions were passed with the requisite majority.

The meeting, held on September 17, 2026, via video conferencing, concluded at 4:45 pm. Chairperson and Managing Director Anuradha Prasad Shukla presided over the proceedings, which included the adoption of audited financial statements for the fiscal year ended March 31, 2026.

Voting Participation

The company had 73,639 shareholders on the record date of September 10, 2026. Voting was conducted entirely through electronic means, with no physical attendees.

• Promoter group: Six promoters attended virtually and cast votes on key resolutions.
• Public shareholders: 178 public shareholders attended the virtual meeting.

The voting results were scrutinized by Balika Sharma of M/s Balika Sharma & Associates and filed with stock exchanges on September 19, 2026.

Resolution Outcomes

Shareholders approved ordinary business items, including the re-appointment of Sudhir Shukla as a non-executive director and Chandan Kumar Jain as an independent director. The special business agenda focused on consolidating operational synergies within the group through related-party approvals.

The approved transactions involve:

• News24 Broadcast India Limited
• E24 Glamour Limited
• Skyline Tele Media Services Limited
• B.A.G. Live Entertainment Limited
• B.A.G. Convergence Limited

These resolutions cover direct transactions between the listed entity and its subsidiaries, as well as inter-company agreements among these group entities.

Governance and Compliance

The statutory auditor report and secretarial audit report for FY26 contained no qualifications or adverse remarks. Six registered shareholder speakers raised queries during the session, receiving clarifications from the management team.

All six directors were present virtually. Independent Director Chandan Kumar Jain was re-appointed to the board. The voting results, scrutinized by Balika Sharma of M/s Balika Sharma & Associates, have been filed with stock exchanges.

What the Numbers Show

Promoter support was decisive for the adoption of financial statements, with the promoter group casting 109,324,062 votes (100% participation) entirely in favour. In contrast, public non-institutional shareholders showed lower engagement, polling only 4.74% of their outstanding shares. While promoter interest was abstained from related-party transaction votes, public shareholders approved these deals with roughly 88.4% support, indicating broad acceptance of the group's internal restructuring despite some dissent.