ALFA Filings
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Majestic Auto Ltd is transferring its stake in Sharan Hospitality Pvt Ltd to third-party funds for an aggregate consideration of ₹ 105.43 Crore.
Majestic Auto completed the SHPL resolution plan implementation and received Bonus RPS and NCDs. The company will now transfer these securities to NovumLake and 360 ONE.
Majestic Auto completed the Rs. 105.43 Cr infusion into Sharan Hospitality, making it a wholly owned subsidiary. The stake will be sold to identified purchasers.
Majestic Auto infused ₹35.79 Crore into Sharan Hospitality as part of a Resolution Plan, with future plans to transfer the acquired securities to designated purchasers.
Majestic Auto Ltd is selling its subsidiary, Sharan Hospitality Pvt Ltd, for ₹24.83 Crore. The transaction involves a cash consideration and is expected to close by October.
Majestic Auto will transfer securities acquired under a resolution plan for Sharan Hospitality to external investors for a total sale consideration of ₹105.43 Crore.
Majestic Auto received Supreme Court approval to proceed with the SHPL Resolution Plan, including securities purchase agreements and interest payments, settling pending legal proceedings.
Majestic Auto executed a settlement agreement with ARC regarding SHPL's resolution plan. The deal involves a ₹105.43 Crore total payment and transfer of securities to purchasers.