Auduth Timblo, Chairman and Anju Timblo, Managing Director of Fomento Resorts & Hotels Limited made an offer to acquire the remaining 25% stake in Fomento Resorts & Hotels Limited (BSE:503831) on January 16, 2016. Under the terms of the offer, Auduth Timblo and Anju Timblo will acquire 4 million shares of Fomento Resorts & Hotels Limited at or above the floor price to be determined in accordance with the delisting regulations. Auduth Timblo currently holds 13.2% stake and Anju Timblo holds 61.2% stake in Fomento Resorts & Hotels. The offer is subject to approval by Board of Directors of Fomento Resorts & Hotels Limited, approval from the stock exchange and receipt of all regulatory approvals. Post-acquisition, Fomento Resorts & Hotels Limited shares will be delisted from stock exchange. As of January 22, 2016, meeting of the Board of Directors of Fomento Resorts & Hotels Limited it was unanimously decided to defer the delisting proposal for consideration at a future date. Centrum Capital Limited (BSE:501150) acted as financial advisor to Fomento Resorts & Hotels. Auduth Timblo, Chairman and Anju Timblo, Managing Director of Fomento Resorts & Hotels Limited cancelled the acquisition of the remaining 25% stake in Fomento Resorts & Hotels Limited (BSE:503831) on January 16, 2017.