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Majestic Auto’s resolution plan for Sharan Hospitality received Supreme Court approval in July 2026
17-Sep-2026, 10:54
Majestic Auto Limited announced that the Resolution Plan for Sharan Hospitality Private Limited (SHPL) has been successfully implemented following an order from the Supreme Court of India on July 17, 2026. SHPL's reconstituted board has approved the issuance and allotment of 50,00,000 Bonus Redeemable Preference Shares, which received approval from SHPL members at an Extraordinary General Meeting held September 17, 2026, and will be transferred to NovumLake Property Fund and 360 ONE Real Assets Advantage Fund, along with Equity Shares and Non-Convertible Debentures, upon completion of corporate actions.