Velan Hotels has completed the sale of its hotel property in Tirupur to M/s.J.P.Associates Asia Pacific Private Ltd, a non-related party.

VH

Velan Hotels Ltd526755 · Filed with the exchange

The sale was finalized after necessary rectifications in the property's land register.

The company received a sale consideration of Rs. 37.16 crore, paid in multiple tranches after applicable TDS deductions.

This completion marks a significant asset divestment for Velan Hotels, impacting its balance sheet and operational focus.

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