Nazara Technologies Limited informs the Exchange regarding 'Intimation under Regulation 30 of the SEBI (LODR) Regulations, 2015 - Approval of Resolution Plan submitted by Nazara Technologies Limited ( the Company ) for acquisition of Smaaash Entertainment Private Limited by the Hon ble National Company Law Tribunal, Mumbai '.
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Nazara Technologies has received approval from the National Company Law Tribunal (NCLT), Mumbai for its Resolution Plan to acquire Smaaash Entertainment Private Limited, which is currently undergoing the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016. The approval was pronounced on May 7, 2025, though it comes with a modification to the provisos related to the 'effective date' of the resolution plan. This is a follow-up to Nazara's earlier intimation dated August 8, 2024. The company has stated it will share the NCLT order once available and provide further updates as the process moves forward.
NCLT approval is a key milestone enabling Nazara to proceed with the acquisition of Smaaash Entertainment, expanding its presence in the gaming and entertainment segment. The modification to the effective date clause may introduce some procedural uncertainty, but overall this is a positive development for the company's growth strategy. Shareholders should watch for the order copy and any next steps on the acquisition timeline.