Adishakti Loha and Ispat543377Board key decisions

Board approves up to 100% stake MOU with Dream Media Network, Alvora Jewels MOU, director exits, office shift

Board meeting of 22nd October 2026 approved and noted several items.

By ScoutQuest · Thu 22 Oct 2026, 6:20 PM IST · 3 min read

100%Stake in Dream Media Network Pvt Ltd

Stake in Dream Media Network Pvt Ltd: 100%.

Board meeting date: 22nd October 2026
Independent directors resigned: Ms. Swati Jain, Mr. Kanwar Nitin Singh and Mr. Lovish Kataria, effective October 21, 2026
Stake contemplated in DMNPL: up to 100% stake through a share swap and/or equity issuance

Board meeting outcome, 22nd October 2026

The Board met from 04:00 p.m. and concluded at 4:30 p.m. It took note of three independent director resignations, reconstituted its committees, approved two Memoranda of Understanding, and approved a change in the registered office.

Three independent directors step down

Ms. Swati Jain (DIN: 09436199)
Mr. Kanwar Nitin Singh (DIN: 10204543)
Mr. Lovish Kataria (DIN: 06925922)

All three were non-executive independent directors. The Board took note of their resignations with effect from October 21, 2026. The update refers to a separate announcement dated October 21, 2026 in this regard.

Committees reconstituted

With effect from 21st October 2026, the three committees are

Audit Committee: Mr. Mohit Lochan (Chairman), Mr. Indrajeet Pradhan, Ms. Ritika Bachhawat
Nomination & Remuneration Committee: Mr. Indrajeet Pradhan (Chairman), Mr. Mohit Lochan, Ms. Ritika Bachhawat
Stakeholder Relationship Committee: Mr. Mohit Lochan (Chairman), Mr. Indrajeet Pradhan, Ms. Ritika Bachhawat

MOU with Dream Media Network Private Limited

The Board approved execution of an MOU with Dream Media Network Private Limited (DMNPL) to explore a potential strategic association. It contemplates the acquisition of up to 100% stake in DMNPL through a share swap and/or equity issuance arrangement, based on the valuation report of the independent valuer.

Consideration is to be discharged by issue and allotment of equity shares by the company to shareholders of DMNPL (or their nominees), at a share swap ratio derived from the independent valuer's report.
Valuation of the company and DMNPL is to be done by an independent registered valuer under the Companies Act, 2013, the Income-tax Rules (Rule 11UA / 11UAA) and SEBI regulations, where applicable. A fair opinion from a SEBI-registered merchant banker is to be obtained where required.
The company is to have the right to nominate directors on the DMNPL board in proportion to its shareholding.
Even with shareholding below majority, the company is to enjoy affirmative/protective rights equivalent to 100% control over reserved matters. These typically include alteration of capital structure, related party transactions, change in business line, borrowings beyond agreed limits, merger, acquisition or divestment, and appointment or removal of key managerial personnel.
The 100% stake is linked to financial performance benchmarks, operational growth metrics and regulatory and statutory compliance track record, with detailed milestones to be documented in definitive agreements.

MOU with Alvora Jewels

The Board approved an MOU between the company and Alvora Jewels and Gems Private Limited for the purchase and sale of jewellery and related products, on terms and conditions to be mutually agreed between the parties.

Registered office shifted

The registered office moves from "Plot 3, Shop 325, DDA C. CNTR, Aggarwal Plaza, Sec-14, Rohini, New Delhi, Delhi, India, 110085" to "D-4, Basement, Jangpura Extension, South Delhi, New Delhi, India, 110014", within the local limits of ROC Delhi I, with immediate effect.

How a retail investor may read this

The two MOUs point to a possible new business direction — an equity-share-based combination with a media network company and a trading arrangement in jewellery. The DMNPL proposal is described as a potential association to explore, with the actual terms, swap ratio and price to flow from an independent valuation and definitive agreements. Separately, the exit of all three non-executive independent directors and the consequent redrawing of committee memberships changes the board's oversight structure, and the update points to an earlier announcement explaining the resignations.

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