Cinevista Limited has intimated the Bombay Stock Exchange Limited and National Stock Exchange of India Limited about an upcoming Board of Directors meeting scheduled for Tuesday, 22nd September, 2026 at 2:00 p.m. The meeting will be held at the company's registered office at Flat no. 7 & 8, Silver Croft, OFF T.P.S III, Corner of 16th & 33rd Road, Bandra (W), Mumbai - 400050.
The Board will consider and approve two main agenda items:
1. A 100% provision for Expected Credit Losses (ECL) on loans/advances
2. A 100% impairment allowance on long-term equity investments
These provisions concern three specific Subsidiaries/Associates in the Standalone Financial Statements of the Company for the current financial year:
- Chimera Entertainment Private Limited
- Heritage Productions Private Limited
- Cinevista Eagle Plus Media Private Limited
The Board will also consider approval for write-off of long-term investments and outstanding loans/advances, followed by voluntary strike-off of two inactive subsidiary/associate companies: Chimera Entertainment Private Limited and Heritage Productions Private Limited.
The disclosure notes that these three downstream subsidiaries have been inactive with no business activity for the last 10 consecutive years. The Board's decision follows recommendations from the Audit Committee, which met earlier and reviewed detailed financial evaluation and Expected Credit Loss (ECL) Matrix prepared in accordance with Indian Accounting Standards (Ind AS 27 and Ind AS 109).
Key findings from the audit committee review:
- The net worth of all three subsidiaries is completely eroded
- They possess nil/negligible realizable assets
- There are absolutely no outstanding external commercial debts
- No statutory liabilities are pending against them
The intimation is signed by Kilpa M. Goradia, Compliance Officer (Membership No.: F11934), and is submitted pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015.