Operational Closures
The company has discontinued operations at two locations:
1. Hotel Closure: 'Vits Select' brand hotel at Bharuch, Gujarat managed by Vitizen Hotels Limited, which is a Material Subsidiary of the company
2. Restaurant Closure: 'Kamats Legacy' brand restaurant at Mira Road, Thane operated under lease and managed directly by Vikram Kamats Hospitality Limited
Rationale for Closure
The decision to close both the hotel and restaurant was taken after due consideration of operational and commercial factors, including Business Disruption.
Statutory Compliance
The company states that compliance with all applicable statutory requirements in connection with the closure of both units will be ensured.
Financial and Operational Impact
The closure is explicitly stated to not have any material adverse impact on the overall operations of either Vikram Kamats Hospitality Limited or its subsidiary Vitizen Hotels Limited.