HLV LIMITED has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
HLVLTD · price
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Awaiting price reaction for this filing.
HLV Limited (operator of The Leela Mumbai) has been in a long-running dispute with the Airports Authority of India (AAI), which terminated two leases in September 2016 and sought possession along with arrears of about Rs. 39.80 crore. AAI also arbitrarily raised the lease rent for the Mumbai hotel from October 2014, leading to additional demands of Rs. 11,950 lakhs (~Rs. 119.5 crore) up to June 2023. The Bombay High Court ruled on June 9, 2025 that the Eviction Officer should continue eviction proceedings while the Arbitrator handles other commercial aspects. HLV challenged this in the Supreme Court, but on July 21, 2025, the Supreme Court declined to interfere, meaning the eviction process will now proceed and the matter will go before the AAI Act Adjudicating Authority.
This is a negative outcome for shareholders. The refusal of the Supreme Court to grant relief clears the way for eviction proceedings on The Leela Mumbai's land and exposes the company to potentially large financial liabilities (arrears plus enhanced lease rent of over Rs. 150 crore combined). Investors should expect continued overhang on the stock and watch for the Adjudicating Authority's order and arbitration outcome.