Chalet Hotels Ltd - Disclosure Under Regulation 30 Read With Para B Of Part A Of Schedule III Of The Listing Regulations - Orders Passed By The Hon''ble Karnataka High Court In Respect Of The Litigation With<BR> Hindustan Aeronautics Limited (''HAL'')
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| 11 Nov 2021 | |
| Further to the earlier intimation dated 23.10.21, wherein the Company had informed that it had arrived at a settlement with HAL in connection with cancellation of NOC for height permission in respect of its Residential Project at Koramangala Bengaluru, this is to inform that we have received today the certified copies of the final orders passed by the Hon''ble Karnataka High Court on 26.10.21, disposing of the Writ Appeal Nos. 704 of 2020 and 397 of 2020 filed by the Company and HAL respectively, in terms of the settlement.<BR> <BR> All customers who desired to exit have been refunded their amounts, and continuing customers have consented to revised development proposal for obtaining necessary approvals for proceeding with the development.<BR> <BR> This marks the closure of the long-standing litigation concerning the Company''s Residential Project at Koramangala and paves the way for completion of the project, as per proposed revised building plans and subject to obtaining the necessary approvals. | |
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