SAB Events & Governance Now Media Limited , a company operating in the digital media, websites, and MICE (Meetings, Incentives, Conferences, and Exhibitions) sectors under the Governance Now brand, continues its Pre-Packaged Insolvency Resolution Process (PPIRP) with the announcement of its third Committee of Creditors meeting.

Latest Development: Third CoC Meeting Notification

On January 19, 2026, SAB Events & Governance Now Media Limited informed the stock exchanges about its upcoming 3rd Committee of Creditors meeting. The meeting is scheduled for Friday, January 23, 2026, at 04:30 P.M., in accordance with Section 54(I) and other applicable provisions of the Insolvency and Bankruptcy Code, 2016.

Meeting Agenda and Purpose

The primary agenda for the upcoming meeting includes the approval and ratification of PPIRP costs incurred by the Resolution Professional from the 2nd CoC Meeting till the date of this meeting. This represents a continuation of the structured insolvency resolution process that began earlier.

Previous PPIRP Milestones

The company's insolvency resolution journey has progressed through several key stages:

Formation of Committee of Creditors

On November 24, 2025, SAB Events & Governance Now Media Limited constituted a Committee of Creditors under Section 54(I)(1) of the Insolvency and Bankruptcy Code, 2016. This development followed the admission order received from the National Company Law Tribunal (NCLT) Mumbai Bench on November 11, 2025.

First Committee of Creditors Meeting

The company held its first Committee of Creditors meeting on December 1, 2025. During this meeting, several important decisions were made including approval of the Resolution Professional, appointment of registered valuers, appointment of a transaction auditor, ratification of PPIRP costs, and approval for the circulation of Information Memorandum to creditors.

Financial Position and Debt Structure

The company's financial distress was exacerbated by the COVID-19 pandemic and its restrictions on public gatherings. The current debt structure shows:

Resolution Plan Framework

Under the proposed resolution plan, financial creditors will receive ₹2.00 crores within 90 days, representing a full settlement of their claims. A moratorium has been declared, prohibiting any legal proceedings against the company during the resolution process.

Business Impact and Recovery

The company's MICE vertical, which organized on-ground events, was severely impacted by the pandemic, with operations coming to a complete halt during the peak of COVID-19. The business has not fully recovered since then, leading to the current insolvency proceedings.

The upcoming third Committee of Creditors meeting represents another step forward in SAB Events & Governance Now Media Limited's structured approach to resolving its financial challenges through the Pre-Packaged Insolvency Resolution Process.

SAB Events & Governance Now Media Limited , a company listed on the Indian stock exchanges, has recently received two significant corporate updates that may impact its governance structure.

Promoter Reclassification Request

Mr. Markand Navnitlal Adhikari, a promoter of SAB Events & Governance Now Media Limited, has submitted a request to reclassify his shareholding from the 'Promoter' category to the 'Public' category. This request comes as Mr. Adhikari seeks to distance himself from the company's operations and focus on personal pursuits.

Key details of the reclassification request:

Mr. Adhikari stated that he resigned from his position as a non-executive director a year ago and has not been associated with the company's business operations for the past two years. At 68 years of age, he expressed his desire to withdraw from corporate affairs to focus on social service and prayer.

In his request, Mr. Adhikari confirmed that he does not:

• Hold more than 10% of the voting rights
• Exercise direct or indirect control over the company's affairs
• Have any special rights through formal or informal arrangements

It's worth noting that Mr. Adhikari's son, Kailasnath Adhikari, serves as the Managing Director of the company but is said to function independently.

Chairman's Resignation

In a separate development, Mr. Ravi Adhikari has tendered his resignation from the positions of Chairman and Director of SAB Events & Governance Now Media Limited. The resignation is effective from the close of business hours on November 11, 2025.

Mr. Ravi Adhikari cited his intention to pursue creative endeavors as the reason for his departure. In his resignation letter, he expressed gratitude to the management, fellow directors, and staff for their support during his tenure.

The company has stated that it will take necessary steps to comply with regulatory requirements, including filing the required forms with the Registrar of Companies and informing the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) of these changes.

These developments may signal a shift in the company's leadership structure and potentially its strategic direction. Shareholders and market observers will likely be watching closely to see how these changes may impact the company's governance and operations moving forward.