BSE •
Promoters of Popular Vehicles and Services executed a Family Settlement Agreement to realign business ownership. Outgoing promoter John K. Paul will resign from directorships and transfer his 20.4% holding to continuing promoters Francis K. Paul and Naveen Philip in tranches by December 31, 2029.
Management and control will remain with Francis K. Paul and Naveen Philip. Popular Vehicles and Services is not a party to the agreement, bears no financial liability, and fresh shares will not be issued under the settlement.