Mumbai: The Delhi High Court has directed Hotel Leelaventure to pay Airports Authority of India (AAI) arrears of Rs 258 crore in relation to the land leased by the airport operator near Mumbai airport.
"The dispute relates to payment of minimum guaranteed royalty amount on 11,000 sq mt of land leased by AAI adjacent to the existing hotel of the company in Mumbai for construction of another hotel. The court has given a time of 15 days to the company to file an undertaking to pay the arrears of royalty", said Hotel Leelaventure in a statement sent to the Bombay Stock Exchange.
The company is seeking legal advice on the further course of action, including appeal to the Division Bench of the High Court, the hotel company further stated.
18/07/16 Business Standard
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"The dispute relates to payment of minimum guaranteed royalty amount on 11,000 sq mt of land leased by AAI adjacent to the existing hotel of the company in Mumbai for construction of another hotel. The court has given a time of 15 days to the company to file an undertaking to pay the arrears of royalty", said Hotel Leelaventure in a statement sent to the Bombay Stock Exchange.
The company is seeking legal advice on the further course of action, including appeal to the Division Bench of the High Court, the hotel company further stated.
18/07/16 Business Standard
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