Acquisition of Business on Slump Sale Basis ( Material Event & Related Party Transaction )

JOJO Ltd (formerly Madhuveer Com 18 Network Limited) has approved acquisition of its Media and Entertainment Production Business Vertical-1 (including JOJO digital platform) from Navkar Events Private Limited, a wholly-owned subsidiary, via slump sale under Section 50B of the Income Tax Act. The lump sum consideration is ₹1,00,000, effectively adjusted against outstanding loans extended by the Company to the subsidiary, resulting in no material cash outflow. The transaction qualifies as both a Material Event (exceeding 10% of consolidated turnover) and a Material Related Party Transaction due to common promoter and director Mr. Dhruvin Shah. The target had turnover of ₹2.59 crore in FY 2024-25. The Company states this is strategic internal restructuring to consolidate operations, eliminate duplication, and bring JOJO platform ownership directly under the listed entity. Shareholder approval and standard compliance approvals are required. Expected completion by June 30, 2026.