VELAN HOTELS LTD.

Velan Hotels Ltd announced its unaudited financial results for the quarter ended June 30, 2026. The Board of Directors approved the results and the Limited Review Report issued by M/s. Krishaan & Co. The company has been actively settling its debts with RARE Asset Reconstruction Limited, having fully repaid the loan and obtained a 'No Due Certificate' as of the results date. This repayment involved Rs. 100.76 crores remitted up to March 31, 2026, and an additional Rs. 15.19 crore during the quarter from the advance received on the sale of a hotel in Tiruppur. The company also reported settling past statutory liabilities, with ongoing disputes pending before authorities for certain dues.

Velan Hotels Ltd announced the re-appointment of Mr. E.V. Muthukumara Ramalingam as Managing Director and Mr. M.R. Gautham as Executive Director. Both appointments are for a further period of three years, commencing from August 7, 2026, to August 6, 2029. The re-appointments are subject to shareholder approval at the upcoming AGM and will be without managerial remuneration. Both directors have confirmed they are not debarred from holding office by any SEBI order. Mr. Ramalingam, aged 75, is a Commerce Graduate and has been a director since incorporation, with extensive experience in hospitality and finance. Mr. Gautham, 49, is a Commerce and Finance Graduate with over 26 years of business involvement, primarily in finance and operations.

Velan Hotels Ltd announced the re-appointment of Mr. E.V. Muthukumara Ramalingam as Managing Director and Mr. M.R. Gautham as Executive Director. Both appointments are for a further period of three years, commencing from August 7, 2026, to August 6, 2029. The board confirmed that neither appointee is debarred from holding directorships by any SEBI order or other authority. Mr. Ramalingam, aged 75, is a Commerce Graduate with extensive experience in hospitality and finance, holding a significant stake in the company. Mr. Gautham, 49, a Commerce and Finance Graduate, has been with the company since 2001 and is instrumental in its financial and operational activities.

Velan Hotels Ltd has announced that its Board of Directors will convene on August 12, 2026, to consider and approve the Un-Audited Financial Results for the quarter ended June 30, 2026. The meeting is scheduled to be held at the company's registered office in Tirupur. This announcement follows the company's prior disclosure regarding the closure of the trading window for insiders, in compliance with SEBI regulations.

Velan Hotels Ltd has announced the completion of the sale of its hotel property located in Tirupur. The transaction, finalized on July 2, 2026, was for a sale consideration of ₹37,16,02,048. The purchaser is M/s. J.P. Associates Asia Pacific Private Ltd, a non-related party. This sale follows previous disclosures made by the company regarding the property disposal. The consideration received is subject to applicable TDS deductions. The company has confirmed the completion after rectification of mistakes in the Town Survey Land Register (TSLR) of the property.

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.