Mukta Arts Limited has disclosed the termination of previously executed agreements related to its subsidiary Mukta A2 Cinemas Private Limited (formerly Mukta A2 Cinemas Limited).
Termination Details
The Shareholders Agreement and Securities Subscription Agreement executed on 7th August 2024 between the following parties have been terminated effective 22nd September 2026:
- Mukta Arts Limited (Company)
- Mukta A2 Cinemas Private Limited (Subsidiary Company)
- Mr. Rajiv Malhotra
- Maverick Media Private Limited (Proposed Investor in Mukta A2)
Background and Rationale
The termination follows the Binding Term Sheet dated 28th February 2024 and represents mutual agreement between all parties due to "unresolvable differences." The parties executed Consent Terms on 15th September 2026 to formalize the termination.
Financial and Operational Impact
The company explicitly states that "the said termination does not have any material adverse impact on the operations, revenue or business of the Company."
Annexure Details
The annexure provides specific responses to regulatory requirements:
- Parties to agreement: Mukta Arts Limited, Mukta A2 Cinemas Private Limited, Maverick Media Private Limited, and Mr. Rajiv Rameshchandra Malhotra
- Nature of agreement: Termination of Binding Term Sheet, Securities Subscription Agreement, and Shareholders Agreement (collectively referred to as "Transaction Documents")
- Execution dates: Binding Term Sheet (28th February 2024), Securities Subscription Agreement and Shareholders Agreement (7th August 2024)
- All other regulatory query responses marked as "NA" or "Not Applicable"
Effective Date
The termination is effective from the "Share Transfer Date" as referenced in the Consent Terms dated 15th September 2026, with the formal announcement made on 22nd September 2026.