Velan Hotels Limited has submitted a regulatory disclosure to BSE Limited under SEBI Listing Regulation 30 regarding the registration process for the sale of the company's hotel properties.
The disclosure references two previous communications to BSE Ltd:
- Disclosure dated January 13, 2026: Intimation of an Asset Sale Agreement entered on January 13, 2026
- Disclosure dated May 1, 2026: Intimation of an Addendum to the Asset Sale Agreement entered on April 28, 2026
The agreement is between Velan Hotels Limited and M/s. J.P. Associates Asia Pacific Private Ltd, Coimbatore, described as a prospective purchaser and non-related party.
According to the Addendum to the Asset Sale Agreement, the registration of sale was required to be completed on or before June 15, 2026. However, the buyer experienced a delay in the registration process due to the non-availability of a key person from the buyer's side, who was held up by another urgent assignment.
The Addendum contains a provision granting a grace period of 10 days from the due date for completing the sale process. Consequently, the registration of the sale process is now expected to be completed within 10 days from the original June 15, 2026 deadline, meaning by approximately June 25, 2026.
The disclosure is signed by Garima Maheshwari, Company Secretary, and is digitally dated June 16, 2026 at 15:00:08 +05:30.