Royal Orchid Hotels Limited - Reply to Clarification Sought

21 Feb 2022 , 12:00 AM

Royal Orchid Hotels Limited with respect to announcement dated 12-Feb-2022, regarding the proposal to provide security towards loan of Subsidiary Company, Maruti Comforts & Inn Private Limited. On basis of above the Company was required to clarify following: 1. Name of party for which such guarantees or indemnity or surety was given; 2. Whether the promoter/ promoter group/ group companies have any interest in this transaction? If yes, nature of interest and details thereof and whether the same is done at arms length; 3. Brief details of such guarantee or indemnity or becoming a surety viz. brief details of agreement entered (if any) including significant terms and conditions, including amount of guarantee; The response of the Company is attached.