SAB Events & Governance Now Media Initiates Pre-Packaged Insolvency Process Amid Leadership Changes

SAB Events & Governance Now Media Limited , a public company operating in the digital media and MICE (Meetings, Incentives, Conferences, and Exhibitions) sector, has announced significant developments that signal a period of restructuring and leadership transition.

Admission of Pre-Packaged Insolvency Resolution Process

The National Company Law Tribunal (NCLT), Mumbai Bench, has admitted the company's petition for initiating a Pre-Packaged Insolvency Resolution Process (PPIRP) under Section 54C of the Insolvency and Bankruptcy Code, 2016. This decision comes in response to the company's financial distress, which it attributes to a prolonged decline in revenue, exacerbated by the COVID-19 pandemic's impact on its MICE business segment.

Mr. Kedar Parshuram Mulye has been appointed as the Resolution Professional to conduct the PPIRP. The NCLT order, dated November 4, 2025, includes a moratorium on legal proceedings against the company and restrictions on asset transfers.

Leadership Changes

Concurrent with the PPIRP initiation, the company has announced key changes in its leadership:

Mr. Ravi Adhikari has resigned from his positions as Chairman and Director, effective November 11, 2025. His departure is reportedly to pursue creative endeavors.
Mr. Markand Navnitlal Adhikari, holding 4.59% of the company's equity shares, has requested reclassification from 'Promoter' to 'Public' shareholder category. This move is part of his stated intention to withdraw from corporate affairs and focus on social service and personal pursuits.
Mr. Kailasnath Adhikari continues as the Managing Director, now overseeing the company's operations during this critical phase.

Financial Challenges

The company's financial statements reveal significant challenges:

Financial Indicator	Value
Net loss for Q3 2025	Rs. 38.31 lakhs
Current liabilities to current assets ratio	4.44
Total equity as of September 30, 2025	Rs. -237.58 lakhs

These factors, along with the inability to service debt obligations, have contributed to material uncertainty regarding the company's ability to continue as a going concern.

Path Forward

As part of the PPIRP, the company has outlined a base resolution plan that includes provisions for:

Payment of PPIRP costs, estimated at Rs. 50 lakhs
Addressing the claims of financial creditors and employees

The management of SAB Events & Governance Now Media Limited will remain vested with the Board of Directors during the PPIRP, subject to the oversight of the Resolution Professional.

As the company navigates through this challenging period, stakeholders will be closely watching the outcomes of the insolvency process and the potential for business revival in the evolving digital media landscape.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.71%	+2.38%	+7.86%	+20.11%	-53.63%	+437.50%

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, has been admitted into a Pre-Packaged Insolvency Resolution Process (PPIRP) by the National Company Law Tribunal Mumbai Bench.

Financial Distress and Debt

The company filed for PPIRP following a period of financial distress, which was exacerbated by the COVID-19 pandemic and its restrictions on public gatherings. The financial situation of the company is as follows:

Creditor	Amount Owed
Moviestar Production Services	Rs. 4.53 crores
Employee Dues	Rs. 2.52 lakhs
Total Debt	Rs. 4.56 crores

Resolution Plan

Under the proposed resolution plan:

Financial creditors will receive Rs. 2.00 crores within 90 days
This amount represents a full settlement of their claims

Appointment of Resolution Professional

Kedar Parshuram Mulye has been appointed as the Resolution Professional to conduct the PPIRP.

Impact of COVID-19 on Business

The company's MICE vertical, which organized on-ground events, was severely impacted by the pandemic:

Operations came to a complete halt during the peak of COVID-19
The business has not fully recovered since then

Moratorium Declaration

A moratorium has been declared, prohibiting any legal proceedings against the company during the resolution process. This measure is designed to provide SAB Events & Governance Now Media Limited with the necessary breathing space to restructure its operations and settle its debts.

The admission of SAB Events & Governance Now Media Limited into PPIRP highlights the ongoing challenges faced by companies in the events and media sector, particularly those heavily reliant on in-person gatherings. The success of the resolution process will be crucial for the company's future operations and its ability to adapt to the post-pandemic business landscape.