The Company has acquired remaining 20% equity shares of Siyana Resorts Private Limited, thereby making the Company a Wholly Owned Subsidiary. After Acquisition the Company has transferred ....
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Spectrum Foods has acquired the remaining 20% equity shares in Siyana Resorts Private Limited from Mr. Girdhar Saboo (15%) and Mr. Aditya Saboo (5%), making Siyana Resorts a 100% wholly owned subsidiary. The full consideration for this stake purchase has already been paid. Additionally, the company has approved transferring its 'Samskara Resort & Spa, Pushkar' business to Siyana Resorts as a going concern via a business transfer arrangement. The company has clarified this transfer does not amount to disposal of the whole undertaking under Section 180(1)(a) of the Companies Act and does not require shareholder approval. The stated purpose is to streamline the group structure and align hospitality operations under one subsidiary.
This is a purely internal group restructuring with no cash outflow to third parties or change in ultimate ownership. Shareholders should see no material impact on consolidated financials since the resort will still belong to the group. The related-party aspect (selling shareholders include the company's MD) may draw governance scrutiny, but operational continuity is maintained.