Latest news about Velan Hotels
Velan Hotels
6.16
+0.22(+3.70%)
Company Performance:
View Company Insights1D+3.70%
1M-6.67%
6M+4.23%
1Y+12.82%
5Y+58.35%
More news about Velan Hotels
01May 26
Velan Hotels Signs Asset Sale Agreement Addendum, Extends Property Sale Deadline to June 2026
Velan Hotels Limited executed an addendum with J.P.Associates Asia Pacific Private Ltd extending their Rs.37.17 crore hotel property sale deadline to June 15, 2026. The company received Rs.35.12 crore in advance payments and used portions to settle debts with RARE ARC, achieving secured debt-free status. The timeline extension accommodates the buyer's financing arrangements for the Tirupur property acquisition.
15Apr 26
Velan Hotels Limited Submits SEBI Compliance Certificate for Quarter Ended March 31, 2026
Velan Hotels Limited filed its SEBI compliance certificate under Regulation 74(5) for the quarter ended March 31, 2026, confirming proper dematerialization procedures. The certificate, submitted on April 15, 2026, was supported by confirmation from registrar MUFG Intime India Pvt. Ltd. that all regulatory timelines and verification processes were met during the reporting quarter.
31Mar 26
Velan Hotels Limited Settles Long-Standing Litigation with Rs.20 Lakh Payment
Velan Hotels Limited has resolved a multi-year legal dispute through an out-of-court settlement, paying Rs.20 lakhs to Mohan Clothing Company Pvt Ltd against original claims of Rs.33.61 lakh plus interest. The dispute involved demands for security deposit refund, fit-out costs, damages, and proceedings expenses. The settlement closes the arbitration case and associated appeal proceedings, providing a mutually beneficial resolution that avoids further litigation costs and uncertainties for both parties.
06Mar 26
Madras High Court Grants Velan Hotels 30-Day Appeal Window in ₹28.68 Lakh Tax Dispute
Madras High Court has disposed of Velan Hotels' writ petition regarding ₹28.68 lakh entry tax demand for 2006 Audi Q7 import, granting the company 30 days to file appeal and 60-day stay on recovery proceedings. The court directed the company to secure appropriate stay order from Appellate Authority for continued protection beyond the initial period.
04Feb 26
Velan Hotels Limited Reports Q3 FY26 Net Loss of ₹49.56 Lakhs Amid Suspended Operations
Velan Hotels Limited reported a net loss of ₹49.56 lakhs for Q3 FY26 ended December 31, 2025, compared to ₹44.05 lakhs in Q3 FY25. With operations suspended since March 2020, the company continues facing financial challenges while pursuing asset sales to settle debts with RARE Asset Reconstruction Limited, having already remitted ₹82.52 crores from previous asset disposals.
24Jan 26
Velan Hotels Limited Schedules Board Meeting on February 04, 2026 to Approve Q3FY26 Financial Results
Velan Hotels Limited has announced a board meeting on February 04, 2026, at 10:15 AM to approve unaudited financial results for the quarter ended December 31, 2025. The meeting notice, issued on January 23, 2026, complies with SEBI (LODR) Regulation 29(1)(a), and the company has already closed its trading window as per insider trading regulations.
13Jan 26
Velan Hotels Limited Signs Asset Sale Agreement for Hotel Properties Worth ₹5 Crores
Velan Hotels Limited signed an asset sale agreement on January 13, 2026, with J.P.Associates Asia Pacific Private Ltd for its hotel properties, receiving ₹5 crores as advance. The transaction involves properties under RARE Asset Reconstruction Limited's possession and requires shareholder approval before completion by March 31, 2026.
06Jan 26
Velan Hotels Limited Receives ROC Penalty Order for Delayed MGT-15 Filing
Velan Hotels Limited received an adjudication order from ROC Tamil Nadu imposing penalties under Section 454 of Companies Act 2013 for 30-day delay in filing MGT-15 form related to FY 2021-22 AGM. The company faces ₹1.15 lakh penalty while Managing Director, Executive Director, and CFO each face ₹40,000 penalties. The company stated no material impact beyond penalty amounts and will evaluate the order for future action.
14Nov 25
Velan Hotels Reports Widening Losses Amid Suspended Operations
Velan Hotels Limited, a hospitality company in Tirupur, Tamil Nadu, reported a net loss of Rs 56.39 lakh for Q2 2025, a 105% increase from Rs 27.51 lakh in Q2 2024. The company's operations have been suspended since March 2020, and it is exploring asset sale options to address financial challenges. The Board of Directors met on November 14, 2025, to approve the unaudited financial results, with the statutory auditor issuing a Limited Review Report.
09Aug 25
Velan Hotels Reports Q1 FY2026 Results, Reappoints Executive Director Amid Ongoing Operational Suspension
Velan Hotels Limited released Q1 FY2026 results, showing no revenue and a net loss of Rs. 11.90 crore due to suspended operations since March 2020. The company is relying on asset sales for debt repayment and has made partial payments towards statutory dues. M.R. Gautham was reappointed as Executive Director without remuneration. Auditors raised concerns about the company's ability to continue as a going concern.
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