Imagicaaworld Entertainment’s Board of Directors has approved allotment of Equity Shares and 0.01% Redeemable Non-Convertible Preference Shares on preferential-basis as part of the resolution plan agreed by the lenders dated May 11, 2022 under the RBI Prudential Framework.
This successfully completes the Debt Resolution process of the company outside of NCLT and is outcome of the continuous efforts made by the company for over the past 4 years since the company turned NPA. Accordingly, the directors from the new promoter group have been inducted on the Board of Directors and would be ratified in ensuing shareholders meeting.
Imagicaaworld Entertainment is engaged in the business of development and operations of theme-based entertainment destinations in India, including theme parks, water parks and associated activities including retail merchandising and food and beverages.
