Majestic Research approves Resolution Plan, cancels existing equity shares

Majestic Research Services and Solutions Ltd announced that its Board of Directors, in a meeting held on October 1, 2026, approved a Resolution Plan in accordance with the Insolvency and Bankruptcy Code, 2016. The plan involves the cancellation and extinguishment of all existing equity shares held by the Promoter and Promoter Group (51,36,992 shares) and existing public shareholders (48,89,008 shares) without consideration. Additionally, 20,650 fresh equity shares will be allotted to existing public shareholders without consideration, and 3,92,350 fresh equity shares will be allotted on a preferential basis at ₹10 per share to specific individuals, including Parth Shaileshbhai Patel, Rashmikaben S Patel, Alpesh Amrutlal Patel, NiƟn Dahyabhai Patel, and Jalak Shaileshbhai Patel.