NCLT Approves Resolution Plan for Sab Events & Governance Now Media, Merger Planned
NCLT approves the Resolution Plan for Sab Events & Governance Now Media Limited, submitted by Sri Adhikari Brothers consortium. The plan includes amalgamation of SABDNPL into the company, renaming it 'Sri Adhikari Brothers Digital Network Limited'. It involves capital restructuring, cancellation of promoter equity, and ₹32.62 crore fund infusion. Payment to creditors and revival measures are key components.
The approval of the resolution plan and the associated amalgamation/restructuring significantly alters the company's capital structure, management, and operational framework, indicating a high impact.
The NCLT's approval of the resolution plan is a positive development, signaling a path towards the revival and continued operation of the company.
The Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench, has officially approved the Resolution Plan for Sab Events & Governance Now Media Limited, marking a significant step in its Corporate Insolvency Resolution Process (CIRP). This approval follows the oral pronouncement on July 10, 2026, and the subsequent placement of the order on the NCLT website on the same day at 11:05 p.m.
The approved Resolution Plan, submitted under Section 54K of the Insolvency and Bankruptcy Code, 2016 (IBC), has received 100% approval from the Committee of Creditors (CoC) in their 4th meeting held on February 6, 2026. The plan is proposed by a consortium comprising Sri Adhikari Brothers Assets Holding Private Limited (SABAHPL) and Sri Adhikari Brothers Digital Network Private Limited (SABDNPL), collectively referred to as the Resolution Applicants (RAs).
A key aspect of the plan is the amalgamation of SABDNPL into Sab Events & Governance Now Media Limited, which will result in the merged entity being renamed "Sri Adhikari Brothers Digital Network Limited." This merger, along with other measures, aims to revive the company by integrating operations, infusing capital, and leveraging shared resources. The plan includes the cancellation of existing promoter equity, a reduction of public shareholding, and the issuance of new shares to RAs and other strategic/financial investors. The financial restructuring involves settling operational creditors in full, with financial creditors receiving agreed consideration from fresh capital infusion. Insolvency resolution process costs will be paid in priority.
The plan details a total source of funds amounting to ₹32,62,50,000. This includes ₹2,70,00,000 from SABAHPL's subscription to equity shares and ₹29,92,50,000 from various unrelated strategic and financial investors. If the capital infusion from investors is insufficient or delayed, SABAHPL will provide the shortfall via an intercorporate loan. The plan also outlines a capital restructuring where existing promoter equity will be cancelled, and public shareholding will be reduced on a 100:5 basis. The face value of each share will remain ₹10, and the company will continue its listing on the BSE and NSE Main Board.
The implementation timeline includes submission of the plan within 90 days of PPIRP commencement, NCLT approval within a further 30 days, and payment to Creditors within 90 days of the NCLT Order Date. A Monitoring Committee will oversee the implementation of the plan.
What to do with a filing like this
Sab Events & Governance Now Media Limited filed this with the NSE as a statutory disclosure, categorised under corporate insolvency resolution process. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Sab Events & Governance Now Media Limited. Read the original for the full detail.