Euro Multivision Limited has informed the Exchange regarding Appointment of Mr Girish Jain as Managing Di of the company w.e.f. Jun 11, 2025.
Awaiting price reaction for this filing.
Euro Multivision Limited has been sold as a going concern under liquidation proceedings under the Insolvency and Bankruptcy Code, 2016, with the sale certificate dated April 18, 2025. The successful bidder/acquirer is now taking control of the company and has nominated a completely new management team effective June 11, 2025. Mr. Girish Jain has been appointed as Managing Director for 3 years, along with Mr. Chandra Prakash Ranka as Non-Executive Director, Mr. Nitin Khemnani and Ms. Meenal Kabra as Non-Executive Independent Directors for 5 years each, and Mr. Bhabesh Jain as Chief Financial Officer. The handover process is still ongoing, with further disclosures expected. The company is essentially getting a fresh start under new ownership after exiting insolvency.
For shareholders, this marks a significant turning point as the company exits liquidation under IBC with new management and likely a new strategic direction. The stock may see renewed investor interest given the change in control, though the handover is still in process and more disclosures about the new acquirer's plans are expected.