Advent Hotels is forming a 50:50 joint venture for its hotel subsidiary, ACHIL, with Prestige Estates investing ₹504 Cr for a 50% stake. This transforms ACHIL into a JV.
Subsidiary received an income-tax demand notice for ₹4.54 Cr. The company is evaluating remedies; operations remain unaffected.
Advent Hotels International Limited's representative attended an investor session. No Unpublished Price Sensitive Information (UPSI) was disclosed.
