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 in its ongoing Pre-Packaged Insolvency Resolution Process (PPIRP).

Appointment of Transaction Auditor

SAB Events & Governance Now Media Limited has appointed Mr. Parthajit Ghosh as Transaction Auditor for its ongoing Pre-Packaged Insolvency Resolution Process. This appointment follows the admission order received from the National Company Law Tribunal (NCLT), Mumbai Bench. Mr. Kedar Parshuram Mulye, the Resolution Professional, made the appointment to conduct an audit on transactions in accordance with the Insolvency and Bankruptcy Code, 2016.

Admission of Pre-Packaged Insolvency Resolution Process

The NCLT, Mumbai Bench, had previously admitted the company's petition for initiating a PPIRP under Section 54C of the Insolvency and Bankruptcy Code, 2016. This decision came 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 was appointed as the Resolution Professional to conduct the PPIRP. The NCLT order 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:

1. Mr. Ravi Adhikari has resigned from his positions as Chairman and Director. His departure is reportedly to pursue creative endeavors.

2. 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.

3. 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:

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, including the transaction audit to be conducted by Mr. Parthajit Ghosh, and the potential for business revival in the evolving digital media landscape.

SAB Events & Governance Now Media Limited has entered into a pre-packaged insolvency resolution process (PIRP) as ordered by the National Company Law Tribunal (NCLT) Mumbai Bench. The company has disclosed its list of claims totaling Rs. 8,89,79,647 under the Pre-Packaged Insolvency Resolution Process (PPIRP) that commenced on November 11, 2025, following the NCLT Mumbai Bench order.

Key Details of the Insolvency Process

• Commencement Date: The NCLT ordered the commencement of the PIRP on November 11, 2025.
• Resolution Professional: Kedar Parshuram Mulye has been appointed as the Resolution Professional to oversee the process.
• Registration Number: IBBI/IPA-001/IP-P-01365/2018-2019/12282

Claims Breakdown

The claims disclosed by the company include:

Company Information

SAB Events & Governance Now Media Limited is identified by the following details:

• CIN: L22222MH2014PLC254848
• ISIN: INE860T01019
• Registered Office: 7th Floor, Adhikari Chambers, Oberoi Complex, New Link Road, Andheri West, Mumbai City, Maharashtra, India - 400053

Process Timeline and Creditor Information

The company has taken steps to inform its creditors and set up a timeline for the insolvency process:

• Public Announcement: As required by insolvency regulations, the company has issued public announcements to creditors.
• Claims List: The list of claims has been made available as part of the PPIRP process.
• Claim Submission: Creditors can submit their claims to the resolution professional.

Contact Information for Stakeholders

Interested parties and creditors can reach out to the Resolution Professional through the following channels:

• Email: sabeventsppirp@gmail.com
• Address: 1301, Chaitanya Residency, Jay Prakash Nagar, Road No. 2, Goregaon East, Mumbai Suburban, Maharashtra - 400063

Implications and Next Steps

The pre-packaged insolvency resolution process is a mechanism introduced in India to provide a quicker and more efficient resolution for companies facing financial distress. It allows for a pre-negotiated resolution plan between the company and its creditors, which can potentially lead to a faster turnaround.

As the process unfolds, stakeholders will be watching closely to see how SAB Events & Governance Now Media Limited navigates this challenging period. The outcome of this PPIRP could have implications not only for the company but also for the broader media sector in India.

Creditors, shareholders, and other interested parties are advised to stay informed about the developments and adhere to the timelines set for claim submissions and other procedural requirements.

The resolution of this process will be crucial in determining the future trajectory of SAB Events & Governance Now Media Limited and may serve as a case study for other companies considering similar resolution mechanisms.