SABEVENTS faces severe financial distress.

Its board has approved initiating a Pre-Packaged Insolvency Resolution Process (PPIRP) and appointed a Resolution Professional, citing inability to service debt and 'going concern' issues.

For the quarter ended June 30, the company reported a net loss of ₹0.24 Cr on income from operations of ₹0.41 Cr.

To support potential resolution efforts, the company also proposed increasing its authorized share capital from ₹11.03 Cr to ₹32.00 Cr, pending shareholder approval.

This move aims to facilitate future capital raising.