The Board of Directors of Kamat Hotels India Ltd has approved the deal which was negotiated with prospective buyers to enter into MOU with respect to the sale of VITS, Mumbai, Unit of the company which shall not be less than Rs. 125 crores on such terms and conditions, including the price considered which is in the interest of the company, final approval will be subject to members of the company.
The sale consideration will be used to reduce overall debt of the company.
