Palladium Constructions Private Limited agreed to acquire Gangetic Hotels Private Limited in stock on January 11, 2017. In consideration, Palladium Constructions will issue 1 share for every 12 share of Gangetic Hotels. As on March 31, 2016 Gangetic Hotels Private Limited reported revenue of INR 2.58 billion. The transaction is approved by Board of Directors of Palladium Constructions Private Limited and Gangetic Hotels Private Limited and subject to approval of regulatory board. The transaction has been approved by the National Company Law Tribunal at Mumbai & Allahabad on July 20, 2017 & October 24, 2017 respectively. Nayyar Maniar & Associate LLP acted as accountant for Palladium Constructions.