Royal Orchid Hotels has acquired the shares of Cosmos Premises by entering into the shareholders’ agreement with Vascon Engineering. As per the said agreement, Royal Orchid Hotels is empowered to appoint the majority of the directors on the board of Cosmos Premises (i.e. three out of five directors).
In view of the above, the shareholders of Cosmos Premises have passed the special resolution at the annual general meeting by altering the Articles of Association to make the Cosmos Premises as subsidiary to the Royal Orchid Hotels.
Royal Orchid Hotels, is the flagship of the entity of Royal Orchid Group of Hotels, operates 13 business and leisure hotels in six popular destinations. With 17 unique hospitality concepts in the offing, the Royal Orchid Group of Hotels is amongst India’s fastest growing hotel groups.
