AHNL to deposit ₹159.66 Cr for Hyatt Regency title deeds release

Asian Hotels (North) Ltd (AHNL) announced that the Delhi High Court has disposed of interim applications in commercial suits involving AHNL and Exclusive Capital Limited. The Court found a strong prima facie case for AHNL and directed DBS Bank India Limited to release the original title deeds and other security documents for Hyatt Regency, Bhikaji Cama Place, New Delhi, to AHNL. This release is conditional upon AHNL depositing ₹1,59,66,05,228 with the Registrar General of the Delhi High Court within four weeks. The deposited amount will be held in an interest-bearing fixed deposit, subject to the final outcome of the suit. The Court clarified that all observations are prima facie and will not influence the final adjudication of the suits. The company states that the release of these documents will not have a material financial or operational impact, apart from the required deposit.