Deals13 Jan 2026, 08:31 pm
Velan Hotels Ltd Enters Asset Sale Agreement with JP Associates Asia Pacific for Hotel Properties
AI Summary
Velan Hotels Ltd has entered into an Asset Sale Agreement with JP Associates Asia Pacific Private Ltd, Coimbatore, for the sale of its hotel properties. The agreement was made on 13th January 2026, with an expected completion date before 31st March 2026. The Company has received Rs. 5 Crores as an advance for the sale. The buyer is not related to the promoter/promoter group. The sale is not a part of any scheme of arrangement and the Company is in the process of obtaining shareholder’s approval for the proposed sale.
Key Highlights
- Velan Hotels Ltd enters Asset Sale Agreement with JP Associates Asia Pacific
- Agreement for sale of Company’s Hotel properties
- Expected completion date before 31st March 2026
- Rs. 5 Crores received as advance for the sale
- Company in process of obtaining shareholder’s approval for the proposed sale