Majestic Auto Limited has announced the completion of its property sale transaction, executing the final sale deed for its Greater Noida leasehold property on March 30, 2026. The company disclosed this development to BSE Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Transaction Overview

The property sale involves three plots situated at B-6, B-7, and B-9 Ecotech I Extension, Sector-Ecotech-I, Greater Noida, District Gautam Budh Nagar, Uttar Pradesh. The leasehold property measures approximately 54,312 square meters and has been sold to Cyrrus Manufacturing LLP.

Approval Timeline and Process

The transaction received necessary approvals through a structured process spanning multiple years. The Board of Directors initially approved the property sale at their meeting held on December 23, 2022. Subsequently, the company obtained shareholder approval through a postal ballot conducted on February 4, 2023.

Following these approvals, Majestic Auto Limited executed an Agreement to Sell on February 6, 2023, with Cyrrus Manufacturing LLP. At the time of signing the agreement, the company received an advance payment of ₹5,00,00,000 towards the total sale consideration.

Financial Impact and Contribution

The sold property made significant contributions to the company's financial performance in the previous financial year. Based on consolidated financial results for 2024-25, the property's financial impact was substantial across key metrics.

Buyer Information

Cyrrus Manufacturing LLP, the purchasing entity, maintains its registered office at A-68, Ground Floor, New Friends Colony, New Delhi-110025. The company confirmed that the buyer does not belong to the promoter, promoter group, or group companies, making this an arm's length transaction.

The designated partners of Cyrrus Manufacturing LLP are Mr. Prem Gupta and Mr. Kunal Gupta, who have been active in the real estate sector in Noida since 1989. Their business activities encompass development of industrial buildings, logistic buildings, and IT/ITES facilities.

Regulatory Compliance

The transaction complies with all applicable SEBI regulations and disclosure requirements. The total consideration of ₹1,43,51,50,000 includes transfer charges, GST on transfer charges, stamp duty, and registration fees. The company has received the full and final sale consideration, thereby completing the transaction.

The sale is not classified as a related party transaction and falls outside the purview of Regulation 37A of SEBI (LODR) Regulations, 2015, as the transaction received shareholder approval prior to the regulation coming into effect.

Majestic Auto Limited has announced an interim dividend declaration for the Financial Year 2025-26, accompanied by detailed communication regarding Tax Deduction at Source (TDS) provisions. The company has issued comprehensive guidelines to shareholders regarding the dividend payment process and applicable tax regulations.

Interim Dividend Declaration Details

The Board of Directors of Majestic Auto Limited, at their meeting held on Wednesday, February 11, 2026, declared an interim dividend with the following specifications:

The dividend payment will be completed within 30 days from the date of declaration, ensuring timely distribution to eligible shareholders.

Tax Deduction at Source (TDS) Guidelines

In accordance with Section 194 of the Income Tax Act, 1961, as amended by the Finance Act, 2020, dividend payments are subject to TDS provisions. The company has outlined specific tax rates and exemption criteria for different categories of shareholders.

Resident Shareholders Tax Provisions

For resident shareholders, TDS will be deducted at 10% under Section 194 of the Income Tax Act, 1961, unless specifically exempted. However, no TDS will be applicable in the following circumstances:

Individual Shareholders Exemptions:

• Total dividend for FY2025-26 does not exceed Rs. 10,000
• Income below taxable limit with Form 15G (up to 60 years) or Form 15H (above 60 years) submission

Institutional Exemptions:

• Insurance companies with IRDAI registration
• Mutual funds under Section 10(23D)
• Alternative Investment Funds (Category I or II)
• New Pension System Trust
• Approved Gratuity and Provident Funds

Non-Resident Shareholders Provisions

Non-resident shareholders face TDS at 20% (plus applicable surcharge and cess) on dividend amounts. However, they can avail benefits under Double Tax Avoidance Agreement (DTAA) by submitting required documentation including Tax Residency Certificate, Form 10F, and self-declarations regarding beneficial ownership.

Documentation Requirements and Deadlines

Shareholders must submit necessary documents by February 22, 2026 to ensure appropriate tax treatment. The company emphasizes that late or incomplete submissions will not be considered for tax benefits.

Required Documentation:

• Valid PAN card (linked with Aadhaar)
• Contact details and bank account information
• Relevant exemption certificates or forms
• Updated specimen signatures for physical shareholders

SEBI Compliance and Electronic Payment Mandate

Following SEBI Master Circular No. HO/38/13/(4)2026-MIRSD-POD/I/4298/2026 dated February 06, 2026, physical shareholders must furnish PAN, contact details, bank account details, and specimen signatures. Effective April 1, 2024, dividend payments will be made only through electronic mode, with no physical warrants issued.

Shareholder Service Information

The company's Registrar and Transfer Agent, M/s. Alankit Assignments Limited, will handle shareholder services and documentation. Shareholders can access online facilities at https://einward.alankit.com for submitting tax exemption forms. The company has established comprehensive procedures to ensure compliance with regulatory requirements while facilitating smooth dividend distribution to eligible shareholders.