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Informist, Friday, Jul. 10, 2026

 

NEW DELHI – The Mumbai bench of the National Company Law Tribunal Friday approved Sri Adhikari Brothers Assets Holding Pvt. Ltd. and Sri Adhikari Brothers Digital Network Pvt. Ltd.'s resolution plan for SAB Events & Governance Now Media Ltd. The resolution plan incorporates a scheme of amalgamation by which Sri Adhikari Brothers Digital Network and SAB Events will merge. Friday, shares of SAB Events ended at INR 9.20 on the National Stock Exchange, up 4.9% from Thursday.

 

The successful resolution applicants form part of the well-established Sri Adhikari Brothers Group and propose to facilitate the revival and restructuring of SAB Events through infusion of capital by way of equity subscription, operational synergies, and shared infrastructure, the tribunal noted. The amalgamation of SAB Events and Sri Adhikari Brothers Digital Network will create a stronger integrated entity with the deployment of professional management and industry expertise and leveraging of shared content libraries, production facilities, technology platforms, and talent resources, it further noted.

 

The resolution plan provides for infusion of funds by the successful resolution applicants and investors towards payment of the pre-packaged insolvency resolution process costs, settlement of operational creditors' dues, and resolution of the financial debt of INR 45.35 million. According to the plan, the successful resolution applicants will preserve and expand the media, digital broadcasting, and over-the-top operations of SAB Events by integrating them with its existing platforms, leveraging shared content libraries, production facilities, technology, and talent to restore revenue and improve unit economics over the next 18-24 months.

 

The plan states that there will be cancellation of existing promoter equity in the debt-ridden company without consideration, reduction of public shareholding on a 100:5 basis to clean up capital while retaining value, and a nominal equity infusion by Sri Adhikari Brothers Assets Holding to assume control. There will be allotment of equity shares and convertible share warrants to various unrelated strategic and financial investors to raise capital to pay all financial obligations under the plan and build business, according to the plan.

 

Sri Adhikari Brothers Assets Holding will subscribe to up to 1.2 million equity shares of the post-resolution equity of SAB Events at a fully diluted basis at an issue price not less than INR 22.50 per share, according to the plan. Simultaneously, shareholders of Sri Adhikari Brothers Digital Network will receive 436 equity shares of SAB Events for every 100 equity shares held in the former pursuant to the amalgamation.

 

In addition, various unrelated strategic and financial investors will infuse capital into SAB Events through the issuance and allotment of equity shares and convertible share warrants in exchange for up to 13.30 million equity shares of post-resolution equity in the corporate debtor. SAB Events will remain listed on the stock exchanges and the successful resolution applicants undertake to restore and maintain minimum public shareholding of 25%.

 

In 2025, the tribunal had admitted an application by SAB Events to initiate the pre-packaged insolvency resolution process. In February, the committee of creditors of SAB Events approved the resolution plan with 100% voting share.  End 

 

Reported by Surya Tripathi

Edited by Rajeev Pai

 

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