SAB TV Network sees MD, chairman, directors quit amid open offer

Media company Sri Adhikari Brothers Television Ltd on Tuesday announced a series of major resignations, including that of Managing Director Kailasnath Markand Adhikari, effective November 18, 2025, citing a change in management and change in control following an Open Offer.

In his resignation letter, Adhikari wrote, "I kindly request the Board of Directors to relieve me from my duties with effect from the date of signing of this letter. Further, I request you to file the necessary forms with the Registrar of Companies to give effect to my resignation."

Along with him, independent directors Pritesh Rajgor, Dr. Ganesh Prasad Raut, Umakanth Bhyravajoshyulu, and non-executive director Latasha Laxman Jadhav have also stepped down from their positions.

Ravi Gautam Adhikari has additionally resigned from his role as Chairman and Non-Executive Director for the same reasons.

These exits follow Grow House Wealth Management Pvt Ltd, on behalf of Kurjibhai Premjibhai Rupareliya and Leading Leasing Finance and Investment Company Ltd (LLFICL), submitting a Letter of Offer to acquire up to 53,46,238 equity shares, representing 13.24% of the emerging voting share capital of Sri Adhikari Brothers Television Network Ltd (SABTNL).

Earlier in June, the promoters of SAB TV Network sold 1.5 crore equity shares to Kurjibhai Rupareliya. As per a stock exchange filing, Ruani Media Service Limited, part of the promoter group, sold 1,50,00,000 shares, amounting to approximately 59.12% of the existing equity share capital.