Velan Hotels Ltd — Results, 30-05-2025: Result

Velan Hotels has announced a board meeting on the audited financial results for the quarter and half-year, ending with the financial year. The board approved the appointment of Mrs. Sumathi Rajendran as Secretarial Auditor for five years, subject to shareholder approval, and re-appointed M/s. N. Sathiamoorthy & Associates as Internal Auditors for FY 2025-26. The company has suspended business operations with no revenue generation and continues to repay debt to Rare Asset Reconstruction Company, having paid Rs. 82.52 Cr till date through asset sales and director funds. Auditor’s qualified opinion cites material uncertainty on the company’s ability to continue as a going concern due to net worth erosion and pending asset sales. Significant delays in statutory dues remittance were noted, with efforts underway to regularize payments. Revised codes managing unpublished price sensitive information and insider trading were approved to enhance governance and compliance.