Madhuveer Com 18 Network Ltd to Acquire Media and Entertainment Business from Navkar Events Private Ltd on Slump Sale Basis

Madhuveer Com 18 Network Limited, now known as JOJO Limited, has approved the acquisition of the Media and Entertainment Production Business of Navkar Events Private Limited, its wholly owned subsidiary, on a going concern basis by way of slump sale. The transaction, which is a material event and a material related party transaction, is expected to enhance operational efficiencies, strengthen content production, intellectual property portfolio, and distribution capabilities. The acquisition will also eliminate fragmentation of operations, duplication of compliance and reporting, and related party dependency for core revenue-generating assets. The transaction is a strategic internal restructuring and consolidation exercise, with no incremental economic burden or cash outflow for the Company.