Key Event Details
The Board of Directors of Baba Arts Limited noted the resignation of Mr. Nikhil G. Tanwani as Chairman of the Company during its meeting held on Friday, 9th October, 2026. The meeting commenced at 1:30 PM and concluded at 3:45 PM.
Effective Date of Resignation
Mr. Tanwani's resignation is effective from close of business hours on 9th October, 2026.
Reason for Resignation
The resignation is consequent upon the change of management and control of the Company following the successful completion of an Open Offer process conducted by Skybridge Interactive LLP (the Acquirer) under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Additional Confirmation
Mr. Tanwani has confirmed in his resignation letter that there are no other material reasons for his resignation apart from the change in management control.
Roles and Positions Relinquished
Mr. Tanwani resigned from the offices of:
- Managing Director (governed by Sections 196, 197, 198 and 203 read with Schedule V of the Companies Act, 2013)
- Director of the Company
His resignation from the office of Managing Director simultaneously operates as resignation from the office of Director under applicable provisions of the Companies Act, 2013.
Request for Regulatory Compliance
Mr. Tanwani has requested the Company to make requisite disclosures to BSE Limited, SEBI, Registrar of Companies, and other regulatory authorities as required under applicable laws.
Document Attachments
The filing includes a copy of the resignation letter from Mr. Nikhil G. Tanwani dated 9th October, 2026.
#Tags: #BabaArts #ManagementChange #SEBIDisclosure #RegulatoryCompliance #OpenOffer #Neutral