RARE ARC to e-auction mortgaged properties of Velan Hotels Ltd

RARE Asset Reconstruction Limited (RARE ARC) vide their letter dated 28th February, 2020 received by us today (04/03/2020) informed that pursuant to applicable provisions of SARFAESI Act and rules framed thereunder, an e-auction has been fixed on March, 17, 2020 for sale of mortgaged properties of the Company for recovery of outstanding amount due to them.

All efforts are being made to expeditiously resolve the matter and the management of the Company shall keep all stakeholders updated on any further developments.

Shares of VELAN HOTELS LTD. was last trading in BSE at Rs.2.52 as compared to the previous close of Rs. 2.4. The total number of shares traded during the day was 306 in over 1 trades.

The stock hit an intraday high of Rs. 2.52 and intraday low of 2.52. The net turnover during the day was Rs. 771.

Source : Equity Bulls

Keywords