Demise of Shri Tekchand Shewakramani, promoter of the company
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Ras Resorts & Apart Hotels Ltd has informed the stock exchange about the passing of Shri Tekchand Shewakramani, one of its promoters. He jointly held 6,95,188 shares (17.51% of the company) with Shri Vishamber Shewakramani. As a result of his demise, he will cease to be classified as a promoter under SEBI's Listing Regulations. The jointly held shares have been transmitted to Shri Vishamber Shewakramani, the surviving joint holder, who already had promoter status. The shareholding pattern will be updated accordingly.
There is no change in the ultimate beneficial ownership of the shares — they simply move from joint holding with the deceased to the surviving joint holder, who is already a promoter. Shareholders should expect minimal impact on the stock, though the formal promoter group composition changes.