SAB Events & Governance Now Media Limited (SAB Events) has taken a significant step in its corporate structure by seeking approval for the reclassification of a key promoter's status. The company has submitted applications to both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) for this purpose.

Reclassification Details

The company is seeking approval to reclassify Mr. Markand Navnitlal Adhikari's status from the 'Promoter' category to the 'Public' category. This move comes following a request from Mr. Adhikari himself, dated November 11, 2025, which was approved by the company's Board of Directors on November 12, 2025.

Application Process

SAB Events has provided a detailed timeline of the reclassification process:

Next Steps

The company has outlined the following steps in the reclassification process:

1. Await no-objection or approval from the stock exchanges (BSE and NSE).
2. Upon receiving approval from the exchanges, seek shareholder approval.

SAB Events has emphasized that shareholder approval will be sought in accordance with the provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Implications

This reclassification, if approved, could potentially alter the ownership structure of SAB Events & Governance Now Media Limited. However, the full implications of this change will only become clear once the reclassification process is complete and approved by all necessary parties.

Investors and market watchers will likely keep a close eye on this development, as changes in promoter categories can sometimes signal shifts in company control or strategy. However, it's important to note that at this stage, the reclassification is still pending approval from both the stock exchanges and the company's shareholders.

SAB Events & Governance Now Media Limited trades on both BSE and NSE. As always, investors are advised to conduct their own research and consider seeking professional advice before making investment decisions based on corporate actions such as this.

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.