Kamat Hotels India Ltd (KHIL) today announced the merger of its restaurant business, Kamat Restaurants, and its Lotus Resorts units in Murud and Goa with itself.
The board of directors of KHIL has approved, in principle, the amalgamation of Kamat Restaurants, Lotus Resort Murud and Lotus Resort Goa into KHIL at a meeting on March 26, KHIL said in a filing to the Bombay Stock Exchange.
While the restaurant business is run by Kamats Restaurants Pvt Ltd, Lotus Resorts, Murud, is operated by Kamat Holiday Resorts Pvt Ltd and Lotus Resorts, Goa, by Kamats Holiday Resorts (Silvassa) Ltd.
The amalgamation will be done on the basis of valuation by an independent valuer, subject to compliance with regulatory requirements and approval of the competent court.
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