Velan Hotels Settles Debt via Rs 37.17 Cr Asset Sale

Velan Hotels settles entire debt with RARE ARC using Rs 35.12 Cr advance from asset sale to J.P. Associates Asia Pacific.
Total sale consideration for Tirupur hotel property is Rs 37.17 Cr, with balance Rs 1.68 Cr due by June 15, 2026 registration.
Company becomes secured-debt free after OTS settlement, retaining only unsecured loans from promoter-directors.
Addendum to January 13 Asset Sale Agreement extends completion deadline to June 15, 2026 for buyer financing.