Tuesday, February 06, 2018

Hotel Leela to pay Rs260cr to airport

Mumbai: Shares of Hotel Leelaventure fell nearly 7% in the morning trade after reports said the Supreme Court has asked the company to pay Rs260cr to Airports Authority of India as royalty for possession of its property near Mumbai International Airport.

The court held that there was no infirmity in the High Court order and the appeal filed by Hotel Leelaventure lacked merit, reports said.

Earlier, the airports authority of India had terminated the lease contract for Hotel Leela's property and initiated eviction process after the company defaulted on payments.
06/02/18 India Infoline 
To Read the News in full at Source, Click the Headline

0 comments:

Post a Comment