Muzali Arts Limited conducted its mandatory separate meeting of Independent Directors on March 31, 2026, fulfilling key corporate governance requirements under Indian regulatory framework. The meeting was held at the company's registered office located at Plot No. 3 B-44 Near Manav Mandir Katol Road Yerla Nagpur.

Regulatory Compliance Framework

The meeting was conducted in strict compliance with Section 149(7) read with Schedule IV of the Companies Act, 2013 and Regulation 25 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. These regulations mandate separate meetings of Independent Directors to ensure robust corporate governance and independent oversight of board functions.

Meeting Agenda and Key Discussions

The Independent Directors' meeting addressed three critical areas of board evaluation and governance:

Meeting Timeline and Participation

The meeting was efficiently conducted within a focused timeframe, demonstrating the directors' commitment to structured governance processes. The session commenced at 11:00 AM IST and concluded at 11:45 AM IST, lasting exactly 45 minutes.

Sohan Chaturvedi, serving as Independent Director with DIN 09629728, signed the formal communication to the Bombay Stock Exchange Limited, confirming the meeting's completion and compliance with regulatory obligations.

Corporate Governance Significance

This separate meeting of Independent Directors represents a crucial component of the company's corporate governance framework, ensuring independent evaluation of board performance and management effectiveness. The structured assessment of information flow between management and the Board helps maintain transparency and enables directors to fulfill their fiduciary responsibilities effectively.

Mukta Arts Limited has entered into a strategic partnership with Green Gold Animation to develop animated content based on its extensive intellectual property portfolio. The collaboration was formalized through a Memorandum of Understanding announced on February 18, 2026, marking a significant expansion into the animation sector for the film production company.

Strategic Partnership Details

The MOU establishes a framework for developing and producing animated shows and feature films utilizing Mukta Arts' iconic IP library built over four decades. The partnership combines Mukta Arts' rich storytelling legacy with Green Gold Animation's expertise in creating scalable, character-driven franchises for television, OTT platforms, and feature films.

SGM Animation Studio Launch

Mukta Arts launched SGM Animation Studio in 2025 as its dedicated Animation and Games division, representing the company's strategic expansion into animation. The studio focuses on developing, producing, and co-producing animated films, series, comic books, and games. This division leverages Mukta Arts' extensive IP library while also creating new original properties rooted in the company's established storytelling legacy.

Green Gold Animation's Expertise

Green Gold Animation, founded by Rajiv Chilaka, stands as India's leading animation studio with a proven track record in creating successful homegrown animation intellectual properties. The studio is renowned for creating the globally popular Chhota Bheem universe and brings decades of experience with hundreds of hours of animated content to the partnership.

Iconic IP Portfolio for Animation

The collaboration will focus on developing multiple animated properties inspired by landmark films from Mukta Arts' celebrated catalogue. The partnership will explore character-led spin-offs and animated adaptations from these established universes.

Leadership Perspectives

Rajiv Chilaka, Founder and CEO of Green Gold Animation, emphasized the partnership's potential to apply proven IP-building experience to Mukta Arts' iconic film catalogue. He highlighted the goal of creating animated worlds rooted in legendary stories while designed to connect with contemporary young, global audiences.

Subhash Ghai, Filmmaker and Founder of Mukta Arts Ltd., reinforced the company's commitment to creating stories with lasting emotional value. He noted that animation represents an extension of the company's IP into a new medium specifically designed for the next generation of audiences.

Development Progress

Creative teams from both Mukta Arts and Green Gold Animation have already initiated discussions regarding the partnership's implementation. The first project under this collaboration is currently in development, with both companies working together to establish the creative framework for future animated content based on the extensive IP portfolio.