Summary of Key Information:
Nature of Filing / Announcement: Outcome of Board Meeting under Regulation 30 of SEBI LODR
Entity Details:
Chimera Entertainment Private Limited:
- Status: Subsidiary (99.88% ownership by Cinevista Limited)
- Date of Incorporation: 28/07/2000
- Turnover: NIL for last 10 years (0%)
- Net Worth: Fully eroded / Negative
- No contribution to consolidated turnover
Heritage Productions Private Limited:
- Status: Associate (49.90% ownership by Cinevista Limited)
- Date of Incorporation: 02/05/2003
- Turnover: NIL for last 10 years (0%)
- Net Worth: Fully eroded / Negative
- No contribution to consolidated turnover
Materiality Assessment:
- Total write-off amount: ₹2.388 Crores
- Represents 9.96% of annual consolidated turnover (₹23.972 Cr for FY 25-26)
- Below 10% threshold under Regulation 23 of SEBI LODR
- No shareholder approval required
- Classified as Related Party Transaction (RPT)
- Audit Committee has approved the write-off
Financial Impact:
Standalone Financial Statements: Write-off of ₹2.388 Cr
Consolidated Financial Statements: NIL impact (as per Ind AS 110, inter-company loans are eliminated on consolidation)
Rationale for Write-off:
- No revenue generation for last 10 years
- No third-party liabilities
- Nil/negligible assets
- Financial status indicates inability to continue operations sustainably
- Management made innumerable efforts to revive business without success
Audit Committee Details:
- Meeting Date: 17th September, 2026 (1:30 p.m. to 1:50 p.m.)
- Location: Registered Office of the Company
- Committee reviewed detailed financial evaluation note and Expected Credit Loss (ECL) Assessment Matrix
- Assessment prepared in accordance with Indian Accounting Standards (Ind AS 27 and Ind AS 109)
- Certified by Mahrukh Chikliwala (DIN: 10178021)