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.

SAB Events & Governance Now Media Limited has taken a significant step towards addressing its financial challenges by filing an application for a Pre-Packaged Insolvency Resolution Process (PPIRP) with the National Company Law Tribunal (NCLT), Mumbai Bench.

Key Details of the PPIRP Application

Background and Approvals

The company's decision to initiate the PPIRP follows a series of internal approvals:

1. Board of Directors' approval on August 14, 2025
2. Company members' approval on September 25, 2025

About the Financial Creditor

Saturn Fund, the unrelated financial creditor to whom the debt is owed, is registered as an Alternative Investment Fund (AIF) Category II with SEBI. Their registration number is IN/AIF2/19-20/0682.

Implications of PPIRP

The Pre-Packaged Insolvency Resolution Process, introduced under Section 54C of the Insolvency and Bankruptcy Code, 2016, is designed to provide a quicker, cost-effective insolvency resolution framework for corporate debtors classified as micro, small, and medium enterprises (MSMEs).

This move by SAB Events & Governance Now Media Limited indicates the company's proactive approach to addressing its financial obligations and potentially restructuring its debt. The PPIRP could offer the company an opportunity to negotiate with its creditors and formulate a resolution plan that could help in its financial recovery.

As this process unfolds, stakeholders, including investors and creditors, will be keenly watching the developments and their potential impact on the company's future operations and financial health.