Kamat Hotels receives approval from Canara Bank for OTS proposal

Kamat Hotels (India) Ltd. | Hotel, Resort & Restaurants | Travel & Hospitality | BSE: 526668 | NSE: KAMATHOTEL

29 Aug 2017 Evaluate

Kamat Hotels (India) has received an approval from Canara Bank approving the One Time Settlement (OTS) proposal.

The company has been facing cash flow mismatch due to which the debt has become a Non- Performing Asset (NPA). As per the approved OTS scheme, the entire repayment under OTS is to be completed in two installments which shall be paid latest by first week of October, 2017.

Kamat Hotels (India) is engaged in the business of hospitality and allied businesses. The company principally operates hotels and restaurants.

Peers

Company Name	CMP
The Indian Hotels Co	742.00
ITC Hotels	161.35
Mahindra Holi.&Resor	201.30
EIH	302.05
Chalet Hotels	886.05
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Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
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SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045

Compliance Officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com	Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com	Telephone: +919860919463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com	Telephone: +919175899463 Address: Same as IA
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