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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HLV Limited has disclosed an update in its long-running dispute with the Airports Authority of India (AAI) over two land leases (totalling 18,000 sq metres) at its Mumbai hotel. AAI had terminated the leases in September 2016 and sought eviction along with arrears of around Rs. 39.8 crore as of January 2017, plus an arbitrary hike in lease rent from October 2014 amounting to Rs. 119.5 crore cumulatively till June 2023. The Bombay High Court, in its judgment on 9 June 2025, has ruled that the Eviction Officer can continue the eviction process against the company, while sending the commercial matters (rent, arrears) to arbitration as per the lease agreement. The earlier stay on eviction granted by the High Court has effectively been vacated.
Negative for shareholders — the company now faces the risk of losing possession of the Mumbai hotel land, which is a core operational asset, while the financial claims will be decided separately in arbitration. This increases uncertainty around the company's revenue base and could put downward pressure on the stock until the arbitration outcome is known.