Deals15 Jul 2026, 11:10 pm
Majestic Auto Settles SHPL Resolution Plan with ARC
AI Summary
Majestic Auto Ltd has executed a Consent and Dispute Settlement Agreement with Assets Care & Reconstruction Enterprise Limited (ARC) on July 15, 2026. This agreement settles disputes related to the Resolution Plan of Sharan Hospitality Private Limited (SHPL) and allows for its implementation. The company has also entered into inter-related transaction documents for financing the resolution plan. The implementation involves a payment of ₹81.84 crore towards the Resolution Plan Amount and ₹23.59 crore towards the Additional Interest Amount, subject to Supreme Court orders. This settlement is a crucial step towards proceeding with the resolution process of SHPL.
Key Highlights
- Majestic Auto settles SHPL Resolution Plan with ARC.
- Agreement facilitates implementation of SHPL's Resolution Plan.
- Total payment includes ₹81.84 Cr for Resolution Plan Amount.
- Additional ₹23.59 Cr payment for interest, subject to court orders.
- Settlement paves way for proceeding with SHPL's resolution.
Price Impact
More from MAJESAUT