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Imagicaaworld Entertainment board nods resolution plan with Malpani Group as anchor investor


Imagicaaworld Entertainment Limited, Board of Administrators of their assembly held on Wednesday have authorised the preferential subject as a part of the decision plan agreed by the lenders underneath the RBI Prudential Framework.

It was knowledgeable on Might 7 2022, that the Lenders of the Imagicaaworld Leisure Restricted (“Firm”) had pursuant to a Bid Doc dated August 30, 2021 undertook an open bidding course of to solicit binding bids from eligible entities/bidder(s) for project/one-time settlement of the debt obligations of the Firm in accordance with the necessities of the Reserve Financial institution of India (Prudential Framework for Decision of Pressured Belongings) Instructions, 2019.

As part of this course of, Malpani Parks Non-public Restricted (“MPPL” or “Acquirer”) had submitted its decision plan/provide (as amended/modified every now and then) in direction of decision of debt obligations to the Lenders of the Firm together with change in administration and management of the Firm in accordance with the necessities of the RBI Prudential Framework (“Decision Plan”).

The Lenders have accorded their unanimous in-principle approval to the Decision Plan and have declared the Decision Plan submitted by MPPL and its nominees because the “Anchor Provide” for enterprise the “Swiss Problem bid course of” by way of the RBI Prudential Framework.

Union Financial institution of India (appearing on behalf of all of the Lenders) has instructed the Firm and the promoters of the Firm vide its electronic mail dated Might 6, 2022 to undertake all the mandatory steps/ actions that could be required for the graceful implementation of the Decision Plan and to increase requisite help to MPPL to make sure that the Decision Plan is applied in a well timed method.

The important thing phrases of the Decision Plan submitted by MPPL are as enclosed. It holistically addresses the decision of all debt obligations of the corporate excellent with the Lenders.

Contemplating the entire above, the Board of Administrators of the Firm of their assembly held at present (Might 11, 2022) have thought of the next:

IMAP India acted as strategic and monetary advisor to the Firm and DSK Authorized acted as authorized advisor to the Firm for the above-mentioned transactions.

At round 9:17 AM, Imagicaaworld Leisure was buying and selling at Rs15.31 per piece decrease by 1.23% on the BSE.


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