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ROYAL ORCHID HOTELS LTD. - Announcement under Regulation 30 (LODR)-Memorandum of Understanding /Agreements
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21 Oct 2021
With reference to the Regulation 30 read with Schedule III Part A Para A (1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (&quot;Regulations&apos;) we hereby inform you that the Royal Orchid Hotels Limited along with its subsidiary Company Royal Orchid Goa Private Limited had entered into a Memorandum of Understanding with Vascon Engineers Limited , Shri R. Vasudevan HUF (Promoter of VEL) and Conamore Resorts Private Limited (Related Party of Promoter of VEL) to acquire the remaining 50% stake in Cosmos Premises Pvt Ltd. in lieu of 100% stake in Rivershore Developers Pvt Ltd and settling of liabilities in the books of RSDPL on August 21, 2021.&lt;BR&gt; The Shareholders had approved the aforesaid MOU via special resolution passed on September 29, 2021.&lt;BR&gt; One of the conditions of MOU was completion of Due Diligence. Since the Due Diligence is in the process of completion all the parties to the aforesaid MOU have unanimously agreed to extend the MOU till15th Nov 2021&lt;BR&gt;
View all announcements for ROYAL ORCHID HOTELS LTD. Source: BSE India

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