Velan Hotels Limited has announced a delay in the registration of its hotel property sale due to discrepancies found in the Town Survey Land Register (TSLR) sketch. The company identified that while the Survey Nos in the TSLR are in order, the TSLR sketch displays incorrect details, necessitating rectification before the sale can be finalized. This regulatory hurdle impacts the completion timeline of the asset sale agreement previously entered into with M/s.J.P.Associates Asia Pacific Private Ltd.

The company has approached the relevant government authorities to update the correct survey numbers in the TSLR sketch. This corrective process is expected to be completed on or before June 30, 2026. Following this resolution, the registration of the hotel property sale is likely to take place in the first week of July 2026.

Timeline of Extensions and Agreements

The sale process has undergone several timeline adjustments since the initial agreement. The following table outlines the key dates and developments related to the asset sale:

Regulatory Disclosures

This update was submitted to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure follows earlier intimations made on January 13, May 1, and June 16, 2026, regarding the asset sale and subsequent extensions granted to the prospective purchaser, a non-related party. The company stated that the registration authority at Tirupur scrutinized the draft documents, leading to the discovery of the mismatch in the survey sketches.

Velan Inc. will release its financial results for the first quarter ended May 31, 2026, on Thursday, July 9, 2026. The company will hold an analyst call on Friday, July 10, 2026, at 8:00 a.m. (EDT) to discuss the performance for the period.

Conference Call Details

Investors can join the conference call by registering online for an automatic callback or by dialing 1-800-990-4777. The webcast will be available for streaming, with a replay accessible two hours after the call concludes until July 17, 2026.

Access Information

Supporting materials for the conference call will be available on the company’s Investor Relations section prior to the event. For further information, Imran Gibbons, Chief Financial Officer, and Martin Goulet of MBC Capital Markets Advisors are the designated contacts.