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| Exchange Received Time 29/09/2018 19:31:34 Exchange Disseminated Time 29/09/2018 19:31:41 Time Taken 00:00:07 | Further to our intimation dated September 26, 2018) pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (listing Regulations), we wish to inform you that the Company has transferred the Hotel Unit owned by it at Visakhapamam viz, 'The Gateway Hotel, Beach Road Visakhapamam' 'as a going concern', on an 'as is where is' basis to Varun Hospitality Private Ltd (VHPL) vide Business Transfer Agreement dated September 29, 2018.
The Hotel unit will be continued to be managed by The Indian Hotels Company Limited (IHCL) under a fresh Hotel Operating Agreement executed between IHCL and VHPL.
Additional disclosures as required under SEBI Circular No. CIR/ CFD /CMD / 4/ 2015, dated September 09, 2015 are provided in the Annexure A.
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