Baba Arts Oct 9, 2026 board meet to seal control change

Baba Arts schedules Oct 9 board meeting

Baba Arts Limited has scheduled a meeting of its Board of Directors on October 9, 2026 to formally conclude a change in management and control. The company has indicated that the meeting is meant to operationalise the transition following a Share Purchase Agreement (SPA) dated February 25, 2026. The planned board actions come after an acquisition of promoter shareholding by Skybridge Interactive LLP.

The company’s stated agenda focuses on director and key managerial personnel (KMP) changes, alongside compliance items linked to the upcoming annual general meeting (AGM). Baba Arts has also taken an extension from the Registrar of Companies (ROC) for holding its AGM, which aligns with the timing of this governance transition.

What the October 9 board agenda covers

The October 9 meeting is intended to complete the internal steps required to implement the change in control. The company has outlined multiple business items tied to the transition.

Key items include accepting resignations of existing directors and KMPs, and appointing nominees of the acquirer to the board. The agenda also includes appointing a new Managing Director and a new Chief Financial Officer (CFO). Separately, the board is expected to take up corporate reporting and AGM-related approvals, including the Board’s Report and Notice for the 27th AGM.

The SPA and parties involved

Baba Arts has referenced a Share Purchase Agreement dated February 25, 2026 as the basis for the transfer of control. The SPA is stated to be between Skybridge Interactive LLP (described as the “Acquirer”) and Mr. Gordhan P. Tanwani (described as the “Promoter Seller”).

The company has also indicated that certain board actions were deferred earlier, pending completion of the share purchase agreement process and an open offer by Skybridge Interactive LLP. This context is important because it links the governance changes and the timing of statutory approvals to the completion of the acquisition-related steps.

Acquisition details: stake and share count

The provided information includes two closely reported data points about the stake transfer, both centred on 3.27 crore equity shares changing hands and representing a little over 62% of the company.

• Skybridge Interactive LLP is stated to have acquired 3.27 crore equity shares, representing a 62.28% stake, on October 5, 2026.
• Separately, it is stated that promoter Gordhan P. Tanwani sold 3.27 crore shares, representing a 62.29% stake, to Skybridge Interactive LLP via an off-market transfer on October 6, 2026.

The company has also stated that the October 9 board meeting will discuss the acquisition of promoter shareholding by an acquirer and effect the change in management and control.

Key dates and actions at a glance

AGM extension and pending annual disclosures

Baba Arts has secured a one-month extension from the ROC to hold its 27th AGM, moving the deadline to October 29, 2026. The company’s board agenda for October 9 includes approving the Board’s Report and the Notice for the AGM.

In addition, the company has stated that it deferred the approval of its FY26 Board Report and the scheduling of its upcoming AGM. The reason cited was that the approvals were held back pending completion of the SPA process and an open offer by Skybridge Interactive LLP.

This sequencing indicates the company is aligning statutory timelines and shareholder communications with the completion of its control transition steps.

Earlier governance event: independent director resignation

Separately from the control change, Baba Arts disclosed an independent director resignation earlier in 2026. Mr. Hasmukh Shah (DIN 00150891) resigned as an Independent Director with effect from January 15, 2026.

The company stated the resignation was necessitated due to his inability to clear the mandatory Online Proficiency Self-Assessment Test for Independent Directors, prescribed under Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014. The company also recorded that the board accepted the resignation with effect from the same date.

Disclosures framework and who is authorised

Baba Arts also disclosed that, in a board meeting held on February 11, 2026, it authorised specific officers for determining materiality of events and making stock exchange disclosures under applicable regulations.

The authorised individuals were:

• Mr. Nikhil G. Tanwani, Chairman and Managing Director
• Mr. Naishadh H. Mankad, Company Secretary and Compliance Officer

This disclosure matters in the context of a change in control because the company is expected to make timely updates as resignations, appointments, and AGM approvals are finalised.

Management and leadership references in the provided data

The provided information includes multiple references to leadership roles at Baba Arts. Management listings and tables describe Nikhil G Tanwani / Nikhil Gordhan Tanwani as Chairman and Managing Director, while Naishadh Harikesh Mankad is listed as Company Secretary and Compliance Officer.

At the same time, one statement in the provided material says: “As of the latest update, Naishadh Harikesh Mankad is the current chairman at Baba Arts.” Since the same dataset also repeatedly describes Nikhil as Chairman and Managing Director, readers should rely on the company’s formal exchange disclosures and the outcome of the October 9, 2026 meeting for the final post-acquisition board and leadership structure.

Market impact: what is confirmed and what is not

The confirmed impact in the provided information is centred on governance and compliance steps rather than quantified market moves. The company has linked the timing of its FY26 Board Report approval and AGM scheduling to the completion of the SPA and open offer process.

The planned resignations of existing directors and KMPs, plus appointments of acquirer nominees and new MD and CFO, point to a complete handover of board oversight and executive decision-making. For investors and shareholders, the near-term focus is on the formal board resolutions on October 9 and the AGM timeline now extended to October 29, 2026.

No stock price moves, financial performance metrics, or operational changes were provided in the supplied text. As a result, the observable market relevance here is procedural: the transition of control, statutory filings, and leadership continuity.

What to watch next

The next confirmed milestone is the October 9, 2026 board meeting, where resignations, nominee appointments, and senior management appointments are expected to be considered. The board is also expected to approve the Board’s Report and AGM notice as part of preparing for shareholder engagement.

After that, the company’s 27th AGM timeline, extended to October 29, 2026, becomes the next key date in the corporate calendar. Investors should track subsequent disclosures for the final list of directors, KMP changes, and any further updates tied to the acquisition process and open offer steps referenced by the company.