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Velan Hotels Limited has resolved a long-standing legal dispute with Mohan Clothing Company Pvt Ltd through an amicable out-of-court settlement. The original arbitration award had demanded a refund of Rs.0.0982 Cr security deposit and additional claims totaling Rs.0.2379 Cr (plus 9% interest on fit-out costs). The company has now paid Rs.0.20 Cr against the total initial claim of Rs.0.3361 Cr plus interest. This mutually beneficial agreement closes the appeal case and concludes a significant past liability, avoiding further litigation costs.