1. CIRP resolution completed - NCLT Mumbai closed Company Petition CP (IB) No. 1874 of 2019 on April 30, 2026, recording that the approved resolution plan has been successfully implemented and nothing remains. The company exits insolvency with a clean slate, freeing management to execute its new business plan without legacy litigation or creditor overhang.
2. Entertainment pivot - The company changed its name to Prabhat Entertainment Limited effective July 14, 2026, with altered objects covering music creation, production, distribution, cinematograph trade, and theatre management. This shifts the business from a defunct telecom handset operation with zero revenue to a new addressable market where the new management has stated expertise.
3. New managing director - Mr. Shivanshu Pandey, aged 34 with entertainment industry experience, was appointed Managing Director for 5 years effective May 15, 2026, approved by shareholders on June 18, 2026. A dedicated entertainment-sector leader with a fresh mandate replaces the insolvency-era board, giving investors a clear execution owner for the pivot.
4. CEO appointment - Mr. Kamlesh Mohanlal Gori was appointed CEO effective April 30, 2026, described as a seasoned business leader with experience in corporate affairs, finance, and general management. This adds operational depth alongside the MD, creating a two-person leadership team to drive the new entertainment business from a standing start.
5. Board reconstitution - The board was fully reconstituted on November 3, 2025, with three new directors appointed pursuant to the resolution plan approval. A clean governance slate aligned with the new promoters removes legacy directors and aligns board incentives with the entertainment pivot.
6. Fresh certificate of incorporation - The Registrar of Companies issued a fresh Certificate of Incorporation confirming the name change to Prabhat Entertainment Limited with effect from July 14, 2026. This legal milestone completes the corporate identity shift, enabling the company to sign contracts, raise capital, and pursue opportunities under its new entertainment charter.