VELAN HOTELS LTD.

Velan Hotels Ltd has announced the closure of its trading window for all directors, connected persons, and designated employees. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015. The window will be shut from July 1, 2026, until 48 hours after the declaration of the company's un-audited financial results for the quarter ending June 30, 2026. The exact date of the board meeting to consider these results will be communicated later. Insiders are advised against trading in the company's securities during this period.

Velan Hotels Ltd has announced a delay in the registration of its hotel property sale to M/s.J.P.Associates Asia Pacific Private Ltd. The delay is due to discrepancies found in the survey numbers in the TSLR sketch compared to the Town Survey Land Register. The company is working with government authorities to rectify these errors, which is expected to be completed by June 30, 2026. Consequently, the sale registration is now anticipated in the first week of July 2026. This follows previous extensions granted to the purchaser, with the latest deadline being June 25, 2026.

Velan Hotels Ltd has granted a 10-day extension to M/s. J.P. Associates Asia Pacific Private Ltd for the registration of its hotel property sale. The original deadline was June 15, 2026. The delay was caused by the buyer's key person being unavailable due to an urgent assignment. The sale process is now expected to conclude within 10 days from the original due date, as per the addendum to the Asset Sale Agreement.

Velan Hotels Ltd announced its audited financial results for the quarter and year ended March 31, 2026. Key highlights include net sales of ₹0.18 crore for the year ended March 31, 2026. The company's operations have been suspended since March 24, 2020, and it is exploring options to sell assets to settle liabilities. The Board also approved the re-appointment of M/s.N.Sathiamoorthy & Associates as the Internal Auditors for FY 2026-27.

Velan Hotels Ltd announced audited financial results for the quarter and year ended March 31, 2026. Key highlights include net sales of ₹0.18 Cr for the financial year, and a total comprehensive loss of ₹3,196.41 Cr. The Board also approved the re-appointment of M/s.N.Sathiamoorthy & Associates as Internal Auditors for FY 2026-27. The company has suspended revenue-generating operations since March 24, 2020, and is exploring the sale of assets to settle liabilities, impacting its ability to continue as a going concern.

Velan Hotels Ltd has scheduled a Board of Directors meeting on May 22, 2026, to consider and approve the audited financial results for the quarter and year ended March 31, 2026. The meeting will be held at the company's registered office in Tirupur, commencing at 10.15 a.m. The company has already disclosed the closure of the trading window to BSE Ltd, in accordance with SEBI regulations.

Velan Hotels Ltd. announced an addendum to its asset sale agreement with M/s. J.P. Associates Asia Pacific Private Ltd. for the sale of hotel properties in Tirupur, Tamilnadu, for ₹37,17,14,968. As of the report, ₹35,12,02,048 has been received, excluding TDS. The company has settled its debts with RARE Asset Reconstruction Ltd. through this transaction, receiving a No-Due Certificate. The remaining balance of ₹1,67,95,770 will be paid upon registration of the sale deed, expected before June 15, 2026. With the debt settled, all mortgaged properties are now freehold, and the company is now secured-debt free.

Velan Hotels Ltd has resolved its litigation with Mohan Clothing Company Pvt Ltd through an out-of-court settlement. The dispute was regarding an award issued by a sole Arbitator, demanding the refund of a Rs. 9.82 lakh interest-free security deposit and additional claims. The Company, having challenged the claim in higher courts, has now agreed to pay Rs. 20 lakhs to Mohan Clothing Company Pvt Ltd, thereby avoiding further litigation. The appeal case is now considered closed.

Velan Hotels Ltd has announced the closure of its trading window for all Directors, Connected, and Designated Persons, effective from 01st April 2026. The trading window will remain closed until 48 hours after the declaration of the Audited Financial Results for the year and quarter ending 31st March 2026. The date of the board meeting for the consideration of these results has not been announced yet. Directors, Connected, and Designated Persons have been advised not to trade in the securities of the company during this period.

Velan Hotels Ltd has received an order from the Hon'ble Madras High Court in relation to the demand of payment of Entry Tax on an Audi Car imported in 2006, along with Penalty and Interest. The High Court has disposed of the writ petition and passed an order allowing the Company to file an appeal before the Appellate Authority within 30 days from the date of the order. The recovery of the Entry Tax, Penalty and Interest has been kept in abeyance for 60 days from the order, and the Company is required to secure an appropriate order from the Appellate Authority to stay further recovery thereafter. Velan Hotels will continue to make disclosures updating material developments till the event is resolved or closed, with relevant explanations.