The Indian Hotels Company Limited (IHCL), India’s leading hospitality group and the parent company of the iconic Taj brand, has announced a significant update related to its agreements with Taj GVK Hotels & Resorts Limited. The disclosure was made through a regulatory filing dated December 31, 2025, following developments that took place a day earlier.
What Has Been Announced?
On December 30, 2025, IHCL executed a Termination Agreement that formally ends its long-standing contractual arrangements with Taj GVK Hotels & Resorts Limited (referred to as the Target Company). This update relates to the termination of both shareholder and trademark-related agreements between the parties.
Background of the Transaction
The termination follows IHCL’s decision to sell its entire shareholding of 1,60,00,400 equity shares, representing 25.52% stake in the Target Company. The shares, with a face value of ₹2 each, were sold at a price of ₹370 per share to Ms. Shalini Bhupal, a promoter shareholder, through an inter-se transfer.
Agreements That Have Been Terminated
As part of the Termination Agreement, the following contracts now stand cancelled and annulled:
Restated and Amended Shareholders’ Agreement (RSHA) dated November 4, 2011
Name and Trademark License Agreement dated November 22, 2007
These agreements were originally entered into between IHCL, Taj GVK Hotels & Resorts Limited, and the GVK promoter group.
Parties Involved
The termination agreement was executed between:
The Indian Hotels Company Limited
Taj GVK Hotels & Resorts Limited
Mrs. G. Indira Krishna Reddy
Mrs. Shalini Bhupal
Blue Moon Trust
Moonshot Trust
Starlight Trust
(Collectively referred to as the GVK Promoters)
Reason for Termination
The agreements were terminated based on mutually agreed terms among all parties involved.
Impact of the Termination
The termination has important implications for both entities:
IHCL will no longer have any management or controlling rights in Taj GVK Hotels & Resorts Limited.
All rights and obligations under the shareholder and trademark license agreements have been fully cancelled.
The Target Company will initiate steps to discontinue the use of the ‘Taj’ name from its corporate identity and proceed with a change in its corporate name, in line with the Termination Agreement.
