GHCL ESOS Trust settles litigation, to receive 7.45L GHCL & 8.56L GHCL Textiles shares

GHCL Limited announced that its Employees Stock Option Trust (ESOS Trust) has settled all pending litigations with a broker by executing a settlement deed. As a result of this settlement, the ESOS Trust is entitled to receive 7,45,966 equity shares of GHCL Limited and 8,56,466 equity shares of GHCL Textiles Limited. Upon receipt, the ESOS Trust plans to dispose of these shares, and the net proceeds, after taxes, will be remitted to GHCL Limited. Both the company and the ESOS Trust will account for these transactions according to applicable accounting standards.