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Kerala Ayurveda Ltd informed the stock exchange that liquidation proceedings against its majority shareholder, Katra Holdings Limited (KHL), Mauritius, have been officially terminated by the Supreme Court of Mauritius on May 7, 2025. KHL holds 53.58% of Kerala Ayurveda's issued share capital and had been ordered wound up in June 2024 after Standard Chartered Bank (Mauritius), a creditor, initiated action. The debt has now been settled, and all parties have mutually agreed to withdraw ongoing litigation. This removes a significant uncertainty that had been hanging over the company since mid-2024.
This is a positive development for shareholders as it removes the risk of a forced change in ownership or control of the 53.58% promoter stake, which had been a major overhang on the stock. Greater stability at the promoter level should be viewed favorably by investors.