Resolution Plan Implementation Status

Pursuant to the Hon'ble Supreme Court order dated July 17, 2026, Majestic Auto Limited (as Successful Resolution Applicant) has successfully implemented the Resolution Plan approved for Sharan Hospitality Private Limited. The Monitoring Committee constituted for implementation of the Resolution Plan has been dissolved, and the reconstituted Board of Directors of SHPL has assumed management and control of SHPL.

Corporate Actions Completed

  • The Board of Directors of SHPL at its meeting held on September 17, 2026 approved the issuance and allotment of 50,00,000 (Fifty Lakh) Bonus Redeemable Preference Shares (Bonus RPS) to Majestic Auto Limited, subject to member approval.
  • The members of SHPL at the Extraordinary General Meeting held on September 17, 2026 accorded requisite approval for the issuance of the Bonus RPS.
  • The credit of Bonus RPS to the demat account of Majestic Auto Limited remains subject to completion of necessary corporate actions with the depositories by SHPL.
  • Corporate actions in respect of the Non-Convertible Debentures allotted to Majestic Auto Limited pursuant to the Resolution Plan have been completed, and the said Non-Convertible Debentures have been credited to the demat account of the Company.

Securities Transfer Arrangements

Upon credit of the Bonus RPS to its demat account, Majestic Auto Limited shall transfer the following securities to the purchasers:

  • The Bonus Redeemable Preference Shares
  • Equity Shares already held by the Company
  • Non-Convertible Debentures already held by the Company

The transfer will be made to NovumLake Property Fund and 360 ONE Real Assets Advantage Fund (Purchasers) in accordance with Securities Purchase Agreements executed with such Purchasers, subject to fulfillment of applicable conditions under the transaction documents and applicable laws.

Transaction Details from Annexure A

Parties: NovumLake Property Fund and 360 ONE Real Assets Advantage Fund (Purchasers) along with related transaction counterparties under escrow and funding arrangements.

Purpose: To set out the framework for proposed transfer of securities already issued to the Company pursuant to implementation of the Resolution Plan of SHPL and other related transaction documents.

Shareholding: No shareholding in the entities with whom the agreement is executed.

Significant Terms: The Agreements provide for the proposed transfer of securities for an agreed total Sale consideration as mentioned in the disclosure dated August 24, 2026. The Agreement does not confer any special rights such as appointment of directors, pre-emptive rights or restrictions on the capital structure of the Company.

Related Party Status: The purchasers are not related to the Promoter, Promoter Group or Group Companies of Majestic Auto Limited.

Related Party Transaction: The Agreement does not constitute a related party transaction.

Shares Issuance: No shares are being issued to the parties under this agreement.

Future Communications

The Company shall keep stakeholders informed of further material developments in accordance with applicable provisions of SEBI Listing Regulations.