Lemon Tree Hotels Limited disclosed outcomes from the Board Meeting of its material subsidiary, Fleur Hotels Limited, held on September 18, 2026.
Key Decisions Approved:
1. Land Purchase in Mumbai for Hotel Development
- Fleur Hotels Limited approved the purchase of a land parcel in Mumbai for development of a hotel.
- The subsidiary company is in the process of executing definitive agreement(s) in accordance with applicable laws and procedural requirements.
2. Incorporation of Wholly-Owned Subsidiary in Maldives
- The board approved the incorporation of a wholly-owned subsidiary in the Republic of Maldives.
- The entity name is yet to be finalized and subject to approval by concerned regulatory authorities in Maldives.
- The incorporation process has not yet been initiated.
- The subsidiary will be engaged in the hospitality sector and other ancillary activities.
- Initial subscription to capital will be made by cash (bank transfer as per RBI guidelines).
- Initial subscription amount: 2000 Maldivian Rufiyaa (MVR) or such other amount in accordance with applicable local laws and requirements.
- 100% share capital of the WOS will be held by Fleur Hotels Limited.
- Governmental/regulatory approvals from Maldivian authorities may be required for incorporation.
Additional Information:
- The information is available on the company website at www.lemontreehotels.com
- Signed by Pawan Kumar Kumawat, Company Secretary & Compliance Officer (Membership No: A25377)