Muzali Arts Limited, a Nagpur-based listed company, has formally announced the completion of its disinvestment in its US-based subsidiary, Jalan Collections, Inc. The company held 800 common stocks representing 80% of the equity capital in the overseas entity. With the disinvestment finalized in the quarter ending June 30, 2024, Jalan Collections ceased to be a subsidiary of Muzali Arts.

The disclosure was submitted to BSE Limited on 21st August 2025, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company acknowledged a delay in submission due to inadvertent oversight and assured that enhanced internal monitoring and compliance mechanisms have been implemented to avoid future delays.

According to the annexure provided in the disclosure:

• The sale/disposal was completed, and the management committee was authorized by the board to identify buyers and negotiate the best possible terms.

• Details regarding the buyers and consideration remain at the discretion of the management committee, and no related-party transactions were involved.

• The transaction was conducted outside any scheme of arrangement, and no indicative disclosures related to amalgamation or merger apply.

The company confirmed that financial contributions from the subsidiary to the group’s turnover, revenue, or net worth were not available for disclosure, reflecting the subsidiary’s standalone operational focus.

Mr. Mansoorbhai Murtuza, Director of Muzali Arts, signed off the communication, reinforcing the company’s commitment to transparency, corporate governance, and timely regulatory compliance. The update is also available on the company’s website, ensuring accessibility to stakeholders.

This strategic divestment aligns with Muzali Arts’ objective of streamlining operations and optimizing resource allocation, allowing the company to focus on core domestic and international operations while ensuring compliance with SEBI disclosure norms.

Muzali Arts Limited continues to maintain its robust internal monitoring systems and reaffirms its commitment to timely disclosure of corporate developments, investor protection, and adherence to SEBI’s regulatory framework.

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