Board defers FY26 Board's Report and 27th AGM decisions pending completion of open offer transaction

Board meeting on 29th September, 2026 deferred key annual items.

Tue 29 Sep 2026

Board Meeting Date

29th September, 2026

Share Purchase Agreement Date

25th February, 2026

Acquirer

Skybridge Interactive LLP

Promoter Seller

Mr. Gordhan P. Tanwani

Financial Year End

31st March, 2026

What the Board decided

The Board of Baba Arts Limited met on Tuesday, 29th September, 2026 and, with the permission of the Chairman and the unanimous consent of all Directors present, deferred three annual-cycle items to a subsequent Board meeting:

• Consideration and approval of the Board's Report with annexures and the Management Discussion and Analysis Report for the financial year ended 31st March, 2026
• Fixing the day, date, time and venue/mode of the 27th Annual General Meeting
• Approval of the AGM Notice, fixing of the cut-off date and book closure/record date, appointment of the scrutinizer and e-voting agency, and incidental matters

Why it was deferred

The Board was apprised that the transaction contemplated under the Share Purchase Agreement dated 25th February, 2026, executed between M/s. Skybridge Interactive LLP (the Acquirer) and Mr. Gordhan P. Tanwani (the Promoter Seller), is yet to be completed. Pursuant to that agreement, the Acquirer made an Open Offer to the public shareholders of the Company under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Because the Board's Report and the AGM Notice are required to reflect the position on completion of that transaction — including the resulting change in control and management of the Company — the Board chose to wait rather than approve documents that would soon be out of date.

What comes next

The day, date, time and venue/mode of the Annual General Meeting, the cut-off date and the book closure/record date will be intimated to the Exchange once approved by the Board.

How investors may read this

This is a procedural postponement tied to an ongoing change-of-control process, not a decision on business performance. Shareholders will need to watch for the follow-up intimation setting the AGM date and for news on completion of the Share Purchase Agreement and Open Offer.

The meeting commenced at 3.30 p.m. and concluded at 4.30 p.m.

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