Majestic Auto Limited has completed the acquisition of 50 lakh Bonus Redeemable Preference Shares (RPS) of Sharan Hospitality Private Limited (SHPL). This milestone finalizes the holding of all securities contemplated under the SHPL Resolution Plan, paving the way for their transfer to external purchasers.

Completion of Corporate Actions

The company disclosed in a filing dated September 23, 2026, that the requisite corporate actions with depositories for SHPL have been completed. Consequently, the Bonus RPS have been credited to Majestic Auto’s demat account. This follows earlier disclosures regarding the approval of these shares and the procedural steps required for their issuance.

With this credit, Majestic Auto now holds all securities—including Equity Shares, Non-Convertible Debentures, and Bonus RPS—issued pursuant to the implementation of the Resolution Plan in dematerialized form.

Transfer to Purchasers

The completion of this acquisition enables Majestic Auto to proceed with the transfer of these securities to the designated purchasers: NovumLake Property Fund and 360 ONE Real Assets Advantage Fund. These transfers are governed by Securities Purchase Agreements executed with the purchasers.

The disclosure confirms that the transfer is subject to the fulfillment of applicable conditions under the transaction documents and relevant laws. The agreement does not confer any special rights such as director appointments or restrictions on capital structure changes.

Key Transaction Details

Regulatory Compliance

The disclosure was made in terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company stated it would keep stakeholders informed of further material developments as required by law. The transaction is not classified as a related party transaction.

Majestic Auto appointed Puneet Verma as its new Chief Financial Officer effective September 22, 2026. The appointment was approved by the Board of Directors based on recommendations from the Nomination and Remuneration Committee and the Audit Committee.

Appointment details

Verma joins as a Whole-time Key Managerial Personnel (KMP). His appointment aligns with Regulation 30 and Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company disclosed that the decision was taken at a Board meeting held on Tuesday, September 22, 2026.

Professional background

Verma is an experienced finance professional with over 10 years of comprehensive experience. His expertise spans financial management, accounting, taxation, regulatory compliance, financial reporting, and audit. He holds a Bachelor of Laws (LL.B.) with specialization in Taxation and Legal Matters, a Master of Commerce (M.Com), and a Bachelor of Commerce (B.Com).

Key areas of expertise

• Direct and indirect taxation, including GST and TDS
• NBFC compliances and statutory audits
• Financial reporting and working capital management
• Internal controls and governance-oriented approaches

The company stated that Verma brings a strong combination of financial expertise, taxation knowledge, and leadership capabilities to support its financial objectives and sustainable growth.