In accordance with the provisions of the Regulation 23 and 30 of the SEBI Listing Regulations, we have to inform you that pursuant to the recommendation of Audit Committee of the Company, ....
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Baba Arts' Board, on the recommendation of its Audit Committee, approved amendments to a Distribution Agreement dated 15 February 2025 with Graceland New Media LLP, in which the company's Chairman & Managing Director Nikhil G. Tanwani is interested. The security deposit repayment schedule has been revised — instead of Rs. 5 Crore by 30 September 2025 and Rs. 5 Crore by 31 March 2026, the company will now repay Rs. 2 Crore before 15 November 2025, Rs. 1 Crore before 30 November 2025, Rs. 2 Crore before 31 December 2025, and Rs. 5 Crore by 31 March 2026. Additionally, Graceland has granted licensing rights for two more Marathi TV serials — Mahalakshmi and Kamdhenu Gomata — expanding the company's content portfolio beyond what was in the original Schedule III.
For shareholders, this is largely procedural — a related-party deal between Baba Arts and a promoter-linked entity has been rest on friendlier cash-flow terms (smaller near-term payouts) while adding two more Marathi serials to the library. The reduced near-term outflow eases short-term liquidity pressure but keeps the total commitment unchanged.