Agreement Details

PRO CLB Global Limited executed a Strategic Investment, Share Subscription and Shareholders' Agreement with K Globes Digital Media Private Limited on 29th July, 2026. The agreement supersedes a previous Memorandum of Understanding dated 01 June 2026.

Investment Terms

  • PCGL may subscribe to fresh equity shares of KGDMPL by investing an aggregate amount of up to INR 30,00,00,000 (Indian Rupees Thirty Crore Only)
  • Investment will be made in one or more tranches
  • PCGL's aggregate shareholding may increase up to 90% of the paid-up equity share capital of KGDMPL
  • Investment is discretionary and subject to project requirements, business growth, financial capability, regulatory approvals, valuation, and Board approvals
  • No fixed investment commitment - neither party can compel the other to invest any specified amount

Business Scope of K Globes Digital Media

KGDMPL is engaged in television broadcasting, digital media platforms, financial news, business communication, print publications, digital marketing and allied media activities. The agreement specifically mentions development of:

  • Kubera Now Media Network
  • Digital broadcasting
  • TV Channel
  • Digital portal
  • Print publications
  • Corporate communication
  • Media production
  • Financial news
  • Digital marketing

Use of Funds

Amounts subscribed by PCGL shall be utilized only for:

  • Media expansion
  • Television broadcasting
  • Kubera Now
  • Technology
  • Software
  • Content creation
  • Marketing
  • Working capital
  • Acquisition of licences
  • Any other business approved by the Board

Management Rights

Immediately after PCGL acquires majority shareholding, PCGL shall have the right to:

  • Appoint majority Directors
  • Nominate Managing Director
  • Nominate CFO
  • Nominate Company Secretary (where applicable)
  • Appoint Internal Auditor
  • Appoint Statutory Auditor (subject to law)
  • Approve annual budget

Reserved Matters

Without prior written consent of PCGL, KGDMPL shall not:

  • Issue further shares
  • Alter capital
  • Amend Articles
  • Borrow beyond Board-approved limits
  • Dispose of substantial assets
  • Create charge over assets
  • Enter into merger
  • Liquidation
  • Change business objects

Additional Provisions

  • Existing promoters shall not transfer controlling interest for three years without written approval of PCGL (lock-in)
  • PCGL has first right to subscribe to any future share issuances (pre-emptive rights)
  • KGDMPL must provide monthly MIS, quarterly financials, annual audited accounts, cash flow, budgets, and project progress
  • Promoters of KGDMPL cannot establish competing Gujarati business news platforms without PCGL approval during agreement term and for two years thereafter
  • All intellectual property created after execution belongs to KGDMPL

Governance and Dispute Resolution

  • Agreement governed by laws of India
  • Disputes to be resolved through arbitration under Arbitration and Conciliation Act, 1996
  • Seat and venue of arbitration: Ahmedabad, Gujarat