Key Quantitative Figures

  • 3,27,00,000 equity shares (62.29%) transferred from Mr. Gordhan P. Tanwani to Skybridge Interactive LLP on 6th October 2026
  • Additional 65,00,000 equity shares (12.38%) pending transfer as Final Tranche
  • Managing Director remuneration: Rs. 9,60,000 per annum (all-inclusive) for Ms. Vidya Pishe

Dates of Action

  • Board Meeting: 9th October 2026 (1:30 PM to 3:45 PM)
  • Share transfer completion: 6th October 2026
  • Resignations effective: Close of business hours on 9th October 2026
  • 27th AGM: Tuesday, 3rd November 2026 at 11:30 AM IST
  • Cut-off date for e-voting: Tuesday, 27th October 2026
  • E-voting period: 30th October 2026 (9:00 AM) to 2nd November 2026 (5:00 PM)

Parties Involved

Acquirer: Skybridge Interactive LLP

Promoter: Mr. Gordhan P. Tanwani

New Appointments:

  • Mr. Eknath Bade (DIN 11523239) - Non Independent Non-Executive Director
  • Mr. Hardeep Darshan Singh Sangha (DIN 11752789) - Non Independent Executive Director
  • Ms. Neeru Saini (DIN 03617003) - Independent Director (5-year term until 8th October 2031)
  • Mr. Chandresh Dutt Upadhyay (DIN 01140078) - Independent Director (5-year term until 8th October 2031)
  • Ms. Vidya Pishe (DIN 11881924) - Additional Director and Managing Director (5-year term until 8th October 2031)

Resignations:

  • Mr. Nikhil G. Tanwani (DIN 01995127) - Managing Director and Director
  • Mrs. Malavika A. Acharya (DIN 07007469) - Director
  • Mr. Hemraj Chheda (DIN 00113766) - Independent Director
  • Mr. Shekhar Mennon (DIN 02262964) - Independent Director
  • Mr. Ajay D. Acharya - Chief Financial Officer

Auditor Changes:

  • M/s. Dholakia & Associates LLP resigned as Secretarial Auditor
  • M/s. G. R. Gupta & Associates appointed as new Secretarial Auditor (casual vacancy until 27th AGM, proposed 5-year term from 27th to 32nd AGM)
  • M/s. Jitendra Chandulal Mehta & Co. appointed as Internal Auditor for FY 2026-27

Purpose and Rationale

All changes are consequent upon the change in management and control of the Company following the successful completion of the Open Offer process by Skybridge Interactive LLP under SEBI SAST Regulations. All resigning directors and officers confirmed no other material reasons for resignation beyond the change in control.

Committee Reconstitution

Audit Committee: Ms. Neeru Saini (Chairperson), Mr. Chandresh Dutt Upadhyay, Mr. Eknath Bade

Nomination and Remuneration Committee: Mr. Chandresh Dutt Upadhyay (Chairperson), Ms. Neeru Saini, Mr. Eknath Bade

Stakeholders' Relationship Committee: Mr. Hardeep Darshan Singh Sangha (Chairperson), Ms. Neeru Saini, Mr. Chandresh Dutt Upadhyay

Authorization

Ms. Vidya Pishe (Managing Director) and Mr. Hardeep Darshan Singh Sangha (Executive Director) authorized under Regulation 30(5) of Listing Regulations to determine materiality of events.

Additional Approvals

  • Board's Report, Corporate Governance Report, and Management Discussion and Analysis Report for FY 2025-26 approved
  • Extension of time for AGM by ROC up to 15th November 2026 (approval dated 29th September 2026)

Confirmation

None of the newly appointed directors are debarred from holding office by any order of SEBI or any other authority.