Lemon Tree Hotels Limited has informed the Exchange about Sale or disposal of subsidiaryPursuant to the execution of the Joint Venture Agreement (JVA), RJ Corp Limited shall acquire 49% stake by subscribing to fresh issuance of equity shares of Arum Hotels Private Limited (Arum)As contemplated under the JVA, Carnation Hotels Private Limited shall hold 51% of the equity share capital in ArumUpon completion of the aforesaid transactions, Arum shall cease to be a step-down wholly owned subsidiary of the Company, and shall continue as a step-down subsidiary of the Company|SUBJECT: General Updates
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