Deals13 Aug 2025, 06:37 pm
Samhi Hotels Ltd. Announces Slump Sale of Business Undertaking to Deventure Hotel and Resorts Private Limited
AI Summary
Samhi Hotels Ltd. and Deventure Hotel and Resorts Private Limited have executed a Business Transfer Agreement (BTA) for the transfer of the Business Undertaking from Samhi Hotels Ltd. to Deventure Hotel and Resorts Private Limited. The transfer will take place by way of a ‘slump sale’ as defined in Section 2(42C) of the Income-tax Act, 1961. The transaction is not a related party transaction and the sale is not part of an arrangement. The details of the transaction are provided in Annexure-A.
Key Highlights
- Samhi Hotels Ltd. and Deventure Hotel and Resorts Private Limited have entered into a Business Transfer Agreement (BTA).
- The transfer of the Business Undertaking will take place by way of a ‘slump sale’ as defined in Section 2(42C) of the Income-tax Act, 1961.
- The transaction is not a related party transaction and the sale is not part of an arrangement.
- The details of the transaction are provided in Annexure-A.