Sri Adhikari Bros. Tele Network , a company with a history in the television industry, has announced a significant strategic shift towards artificial intelligence (AI) and machine learning technologies. The company has issued a postal ballot notice seeking shareholder approval for several major changes, including a proposed name change to Aqylon Nexus Limited, reflecting its new focus on cutting-edge technologies.

Key Developments

Name Change and Business Pivot

• Proposed new name: Aqylon Nexus Limited
• Focus shift: AI and machine learning technologies
• Amendment of main business objectives to align with the new direction

Changes in Statutory Auditor

• Resignation accepted: M/s Hitesh Shah Associates
• New appointment: M/s. Bilimoria Mehta & Co.

Shareholder Approval Process

• Remote e-voting scheduled from December 3 to January 1

Previous Announcements

AI Green Data Centre Project

• Proposed setup: 50MW AI Green Data Centre Campus in Telangana
• Purpose: To support India's national AI ambitions and strengthen digital infrastructure

Withdrawal of Share Applications

• Withdrawn from BSE and NSE:
  • 1,50,00,000 equity shares
  • 6,80,20,000 convertible warrants

Financial Overview

The company's financial position, based on the latest balance sheet data, shows some concerning trends:

The financial data indicates a significant deterioration in the company's financial health over the past year. The negative total equity and substantial decrease in fixed assets are particularly noteworthy, potentially reflecting the challenges faced by the company in its traditional business model.

Analysis

The strategic pivot towards AI and machine learning, along with the proposed name change, suggests a radical transformation in Sri Adhikari Bros. Tele Network's business model. This move could be seen as an attempt to revitalize the company's prospects in the face of financial difficulties.

The proposed AI Green Data Centre in Telangana aligns with India's growing focus on digital infrastructure and AI capabilities. However, given the company's current financial position, the feasibility and funding of this ambitious project remain unclear.

The withdrawal of applications for equity shares and convertible warrants from stock exchanges might indicate a reassessment of the company's capital raising strategies in light of its new direction.

Investors and stakeholders should closely monitor how the company plans to finance its transition and new ventures, especially considering its current negative equity position. The success of this strategic shift will likely depend on the company's ability to secure funding, attract talent in the AI sector, and effectively execute its new business plan.

As Sri Adhikari Bros. Tele Network embarks on this transformative journey, it will be crucial to observe how it addresses its current financial challenges while pursuing opportunities in the rapidly evolving AI and machine learning sectors.

In a significant corporate development, Sri Adhikari Bros. Tele Network has announced the resignation of several key directors, including independent directors and the managing director. The resignations, set to take effect on November 18, 2025, come in the wake of management changes following an open offer.

Board Restructuring

The company has disclosed that the following directors have tendered their resignations:

Reason for Resignations

According to the company's filing, all the resigning directors have cited the change in management and control of the company as the primary reason for their departure. This change is attributed to an open offer triggered under Regulation 3(1) and Regulation 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Impact on Corporate Governance

The mass resignation of directors, particularly independent directors, may have significant implications for the company's corporate governance structure. Independent directors play a crucial role in ensuring transparency and protecting shareholder interests.

Next Steps

As Sri Adhikari Bros. Tele Network faces this leadership transition, stakeholders will be keenly watching for announcements regarding new appointments to the board. The reconstitution of the board will be critical in shaping the future direction of the company.

The company has stated that it will file the necessary forms with the Registrar of Companies to give effect to these resignations. As this situation develops, shareholders and market watchers will be looking for further clarity on the company's future leadership and strategic direction.