This disclosure, made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, provides an update on the implementation of the Resolution Plan for Sharan Hospitality Private Limited (SHPL), for which Majestic Auto Limited is the Successful Resolution Applicant (SRA). The update is in furtherance to earlier communications dated April 17, 2021, November 29, 2021, December 13, 2021, December 23, 2024, July 15, 2026, July 23, 2026, and August 24, 2026.
Nature of the Event
The disclosure details the progress in infusing funds as mandated by the Hon'ble Supreme Court order dated July 17, 2026, and the approved Resolution Plan.
Key Quantitative Figures and Transactions
The total commitment under the Resolution Plan is ₹1,05,42,80,536 (Rupees One Hundred Five Crore Forty-Two Lakh Eighty Thousand Five Hundred Thirty-Six Only). The mode of infusion is broken down as:
- ₹76,14,80,536 to be provided via subscription to various securities of SHPL.
- ₹29,28,00,000 to be infused by way of an Inter-Corporate Deposit (ICD) to SHPL.
Previous Phase (August 24, 2026):
The Monitoring Committee of SHPL allotted securities aggregating ₹40,00,00,000 to Majestic Auto Limited. The corresponding funds were infused into SHPL. The breakdown is:
- 5,00,000 Equity Shares of face value ₹100 each, allotted at ₹100 per share, aggregating ₹5,00,00,000.
- 35,00,00,000 Non-Convertible Debentures (NCDs) of face value ₹1 each, allotted at ₹1 per NCD, aggregating ₹35,00,00,000.
Current Phase (September 01, 2026):
The Monitoring Committee of SHPL allotted 35,79,00,000 Non-Convertible Debentures (NCDs) of face value ₹1 each, allotted at ₹1 per NCD, aggregating ₹35,79,00,000 to Majestic Auto Limited. The corresponding funds have been infused into SHPL.
Aggregate Infusion to Date
As of September 01, 2026, the company has infused an aggregate amount of ₹75,79,00,000 out of the total ₹1,05,42,80,536. This comprises:
- ₹40,00,00,000 infused in the first phase (August 24, 2026).
- ₹35,79,00,000 infused in the current phase (September 01, 2026).
Pending Infusion and Future Actions
In subsequent phases, the company shall complete the infusion by:
- Subscribing to the balance 35,80,536 NCDs.
- Receiving 50,00,000 bonus Redeemable Preference Shares.
- Extending the ICD of ₹29,28,00,000.
Securities Transfer Agreement
Upon completion of the acquisition of all securities (Equity Shares, Redeemable Preference Shares, and NCDs), the company is obligated to transfer them to NovumLake Property Fund and 360 ONE Real Assets Advantage Fund ("Purchasers"). This transfer is governed by pre-executed Securities Purchase Agreements and is subject to the fulfillment of conditions under those transaction documents and applicable laws.
Annexure A Details
The enclosed annexure provides further details on the agreements with the Purchasers as required by SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026:
- Parties: NovumLake Property Fund and 360 ONE Real Assets Advantage Fund, along with related transaction counterparties under escrow and funding arrangements.
- Purpose: To set the framework for the proposed transfer of securities acquired by Majestic Auto through the SHPL Resolution Plan.
- Shareholding: The Purchasers hold no shares in Majestic Auto Limited.
- Significant Terms: The agreement provides for the transfer of securities for an agreed total sale consideration (as per the August 24, 2026, disclosure). It confers no special rights like appointing directors, pre-emptive rights, or restrictions on Majestic Auto's capital structure.
- 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.
- Other Disclosures: Not Applicable.