BSE and NSE reject promoter reclassification request
SABEVENTS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
SAB Events & Governance Now Media had applied in November 2025 to reclassify Mr. Markand Navnitlal Adhikari from the Promoter category to Public category. Both BSE and NSE rejected the application on July 16, 2026. Reason: Mr. Markand's immediate relative, his son Kailasnath Adhikari, serves as the company's Managing Director, which violates SEBI rules that bar board representation or key managerial roles for promoters or their relatives seeking such reclassification. The Adhikari family therefore retains Promoter status.
No change in promoter classification or shareholding structure. The Adhikari family remains a promoter of the company. Neutral for shareholders in the near term.