STOCKWATCH

Royal Orchid Hotels Ltd. Wins Arbitration Case, Entitled to Refund and Damages

Royal Orchid Hotels Ltd. has received an arbitration award from the Sole Arbitrator Shri Justice Ajit J. Gunjal, a former Judge of the High Court of Karnataka. The award, received on September 12, 2024, pertains to the arbitration case between Royal Orchid Hotels Limited and Rock Reality Private Limited. The award states that Royal Orchid Hotels Limited is entitled to a refund of the Security Deposit from Rock Reality Private Limited amounting to Rs. 2,14,26,000/ and Damages of Rs. 25, 00,000/- carrying interest at the rate of 12% from the date of the award. The company is presently reviewing the award in detail and may file an appeal.

• Royal Orchid Hotels Ltd. wins arbitration case against Rock Reality Private Limited
• Company entitled to refund of Security Deposit of Rs. 2,14,26,000
• Company also entitled to Damages of Rs. 25, 00,000 carrying interest at 12% from the date of the award
• Company may file an appeal on the arbitration award
• Company to continue paying agreed rents and parking charges during use and occupation of the property