SAB Events & Governance Now Media Limited has officially entered the Pre-Packaged Insolvency Resolution Process (PPIRP) as of November 4, 2025, following the admission of their petition by the National Company Law Tribunal (NCLT). This decision comes after the company filed an application under Section 54C of the Insolvency and Bankruptcy Code, 2016, on October 17, 2025. The petition, referenced as CP(IBPP)/1(MB)2025, was filed to address urgent financial issues stemming from a significant debt owed to Moviestar Production Services Pvt. Ltd., amounting to ₹4.53 crore. The company received the official NCLT order on November 11, 2025, marking a crucial step in its restructuring efforts.

The financial difficulties faced by SAB Events can be traced back to a ₹10 crore facility agreement established with Moviestar in March 2020, which stipulated a repayment period of 36 months. As the company struggled to meet its obligations, a demand notice was issued in June 2025, leading to failed negotiations over a proposed partial payment. In response, the company’s Board of Directors convened on August 14, 2025, to authorize the initiation of insolvency proceedings, ultimately seeking the approval of unrelated financial creditors. This approval was granted during a meeting on October 8, 2025, allowing SAB Events to move forward with the PPIRP.

To oversee the insolvency process, Kedar Parshuram Mulye has been appointed as the Resolution Professional, tasked with guiding SAB Events through the complexities of financial restructuring in accordance with the IBC. The company, established in March 2014, operates in the digital media sector and is known for its flagship brand, Governance Now, which focuses on participatory journalism and governance analysis. As SAB Events navigates this challenging period, the PPIRP aims to provide a structured approach to resolving its financial distress and creating a pathway towards recovery and sustainability.