Sri Adhikari Brothers Television Network Directors Resign Following Open Offer

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:

Name	Position
Mr. Pritesh Rajgor	Independent Director
Dr. Ganesh Prasad Raut	Independent Director
Mr. Umakanth Bhyravajoshyulu	Independent Director
Ms. Latasha Laxman Jadhav	Non-Executive Director
Mr. Kailasnath Markand Adhikari	Managing Director
Mr. Ravi Gautam Adhikari	Chairman and Non-Executive Director

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.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+3.25%	+25.46%	+70.30%	+134.87%	-24.00%	+3,034.06%

Sri Adhikari Bros. Tele Network Limited (SABTNL) has reported a significant turnaround in its financial performance for the half-year ended September 30, 2025, alongside announcing plans for key leadership appointments.

Financial Performance

The company reported a profit of Rs. 1,227.04 lakhs for the half-year period, a substantial improvement from a loss of Rs. 2,236.83 lakhs in the previous year. This turnaround was largely driven by an exceptional gain of Rs. 1,543.59 lakhs from the sale of immovable properties in Andheri, as part of the NCLT-approved Resolution Plan dated December 8, 2023.

Revenue from operations for the quarter ended September 30, 2025, stood at Rs. 434.28 lakhs. The company's total income for the same quarter was Rs. 434.28 lakhs, compared to Rs. 37.07 lakhs in the previous quarter and Rs. 126.71 lakhs in the corresponding quarter of the previous year.

Key Financial Metrics

Particulars (in Lakhs)	Q2 FY2026	Q1 FY2026	Q2 FY2025	H1 FY2026	H1 FY2025
Revenue from Operations	434.28	3.47	126.71	437.75	226.71
Total Income	434.28	37.07	126.71	471.35	226.71
Profit/(Loss) Before Tax	1,410.61	(183.57)	17.15	1,227.04	23.63
Profit/(Loss) After Tax	1,410.61	(183.57)	17.15	1,227.04	23.63

Balance Sheet Highlights

As of September 30, 2025, SABTNL reported total assets of Rs. 1,797.93 lakhs, a decrease from Rs. 5,311.70 lakhs as of March 31, 2025. The company's equity share capital remained unchanged at Rs. 2,537.31 lakhs, while other equity improved to negative Rs. 2,454.60 lakhs from negative Rs. 3,680.89 lakhs at the end of the previous fiscal year.

Operational Updates

The company operates in a single segment of content production and distribution. During the quarter, SABTNL fully repaid its bank liabilities in accordance with the NCLT-approved Resolution Plan. However, the company has not yet received a No Dues Certificate or balance confirmation from Central Bank of India as of September 30, 2025.

Corporate Governance and Future Plans

The Board of Directors has approved a notice for a postal ballot seeking shareholder approval for several key appointments:

Mr. Srivatsava Sunkara as Managing Director for a 5-year term from October 10, 2025, to October 9, 2030.
Mr. Kiran Kumar Inampudi as Executive Non-Independent Director.
Mr. Ramavath Suresh, Mr. Sharath Kumar Rekhapalli Naga, and Mr. Sripal Reddy Molugu as Non-Executive Independent Directors.

Auditor's Note

The company's auditors, Hitesh Shah & Associates, have highlighted a material uncertainty related to the going concern status of SABTNL. They noted that current liabilities substantially exceed current assets, and the company has a negative Other Equity of Rs. 2,453.85 Lakhs as of September 30, 2025.

Despite these challenges, the management continues to prepare financial results on a going concern basis. The auditors have emphasized that the impact of pending direct and indirect tax assessments has not been accounted for in the current period's results.

As SABTNL navigates through its financial restructuring and operational changes, the proposed leadership appointments and improved financial performance may signal a new chapter for the company. However, the ongoing concerns raised by the auditors suggest that challenges remain in stabilizing the company's financial position.