PRIME FOCUS LTD.

The Supreme Court dismissed Raspalfa Services Private Limited's appeal against an interim order by the NCLAT regarding Prime Focus. The NCLAT had stayed an NCLT order and directed the Interim Resolution Professional to halt further actions. The Supreme Court noted the NCLAT's interim order and advised parties to raise contentions before the NCLAT, which is scheduled to hear the main appeal on July 9, 2026. Raspalfa's application to vacate the NCLAT's interim order was dismissed.

Prime Focus Ltd has scheduled a Board of Directors meeting on May 28, 2026, to consider and approve the audited financial results (standalone & consolidated) for the fourth quarter and financial year ended March 31, 2026. The board will also consider recommending a final dividend, if any, for the financial year 2025-26. The trading window, currently closed, will reopen 48 hours after the declaration of the audited financial results.

Prime Focus Ltd submitted a Monitoring Agency Report by CARE Ratings for the quarter ended March 31, 2026, in compliance with SEBI regulations. The report, reviewing the utilization of funds from a preferential issue of equity shares, found no deviation from the stated objectives. This report is available on the company's website and has been reviewed by the Audit Committee and Board of Directors.

The National Company Law Appellate Tribunal (NCLAT) has stayed the NCLT order for Corporate Insolvency Resolution Process (CIRP) against Prime Focus Ltd. The NCLAT directed Prime Focus to deposit ₹353.79 crores in an interest-bearing account with the Registrar, NCLAT, by May 20, 2026. The company argued it is solvent with 12,000 employees and has sufficient assets. The matter is listed for further hearing on July 9, 2026.

The National Company Law Appellate Tribunal (NCLAT) has continued the interim order dated May 8, 2026, which directed the Interim Resolution Professional not to take further steps pursuant to the NCLT order. The matter, Comp. App. (AT) (Ins.) No. 850 of 2026, was heard on May 11, 2026, and has been adjourned to May 12, 2026, for further hearing. The appellant is allowed to file an additional affidavit.

Prime Focus Ltd has disclosed that the National Company Law Tribunal (NCLT), Mumbai Bench, admitted a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 against the company. The NCLT order appointed NPV Insolvency Professionals Private Limited as the Interim Resolution Professional (IRP). The amount of default is ₹353.79 crores, inclusive of interest on a principal amount of ₹200 crores. The National Company Law Appellate Tribunal (NCLAT) directed that the IRP shall not take any further steps until the next hearing on May 11, 2026.

The National Company Law Appellate Tribunal (NCLAT) heard the appeal filed by Prime Focus Ltd against the admission of a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016. The NCLAT has directed the Interim Resolution Professional (IRP) to refrain from taking further steps based on the NCLT order, pending the next hearing scheduled for May 11, 2026.

Prime Focus Ltd has been notified of an oral pronouncement by the National Company Law Tribunal (NCLT), Mumbai Bench, admitting a petition filed by Reliance Alpha Services Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition alleges a financial debt of ₹353.79 crores (including interest) under a Loan Agreement executed in 2019. Prime Focus disputes the claim, stating no funds were disbursed and that the petitioner doesn't qualify as a financial creditor. The company has filed an appeal with the NCLAT and asserts its business operations continue without disruption.

Prime Focus Limited (PFL) has announced an internal restructuring within the group to streamline business operations. The restructuring involves two key steps: (1) transfer of 100% equity shareholding of Prime Focus Technologies Inc. (PFT US) from Brahma AI Services India Limited (formerly known as Prime Focus Technologies Limited) to DNEG S.a.r.l., and (2) transfer of 100% equity shareholding of Brahma AI Services India Limited from DNEG S.a.r.l. to Brahma AI Holdings Limited. These transfers do not involve any fresh infusion of capital and pertain to the restructuring of existing financial exposure. The transactions have been approved by the Audit Committee and are expected to be completed as per the agreed timelines under the agreement.

Prime Focus Limited subsidiaries have proposed to undertake certain steps for internal restructuring. The restructuring involves the transfer of the entire 100% equity shareholding of Prime Focus Technologies Inc. to DNEG S.a.r.l. and the transfer of the entire 100% equity shareholding of Brahma AI Services India Limited to Brahma AI Holdings Limited. These transfers are aimed at streamlining the business operations of the group. The transactions do not involve any fresh infusion of capital and are being done at arm’s length.