According to recent directives issued by the Government, the transport department will be dispatching driving licences and vehicle registration certificates directly at the applicant’s postal address. Just like passports, people now are no more required to visit the transport office a multiple number of times to collect their documents.
The increasing intervention of middle-men and agents create hassles, and as such, the step has been taken to avoid troubles faced by consumers. The directives were issued on 1st of August, following which the Udaipur Transport Department has enforced the same from 7th August Wednesday.
Applicants are required to give the exact postal address for the delivery of their certificates. If the address is found to be incorrect or incomplete, the post will return to the RTO office.
Rajasthan government’s long-awaited battle for the possession of historic Udaipur House in New Delhi has come to rest with the recent directives of Supreme Court. The property is situated near the Tees Hazari court at Civil Lines in Delhi. The Historic building was built before Independence by the then ruling Maharana of Mewar, which was occupied by Delhi government post-independence.
The majestic building is sprawling over 12000 meters of land at a prime location of Delhi, whose current worth is evaluated around 1500 crore. Before Independence, when Luteyn’s Delhi was being designed, the property was built by Udaipur’s Royal family. That time the British asked the Maharana of Udaipur to build a mansion in Delhi like other princely houses.
Post-independence Delhi government was granted the possession only for use. However, in 2010, Ashok Gehlot, the then Chief Minister of Rajasthan held talks with Delhi government to hand over the property back to Rajasthan, but the plea was declined. Following which the government took the issue to Supreme Court.
Recently Supreme Court issued directives to both the governments to settle the issue. After which a meeting among the representatives from Rajasthan and Delhi was held, where it was decided to hand over the property to Rajasthan government.
How many of us knew that 11th July is observed as World Population day? And even if we get to know about it, do we really know why it is celebrated or what impact does it have? Lets get to know some really interesting facts!
As per the United Nations Development Program 11th of July, every year, is observed as World Population Day. The chief aim behind this, is to create awareness about increasing world’s population and to search solutions to the issues pertaining to it. It is not an event that has got a recent recognition, however it would be quite interesting to know that it was established by Dr KC Zachariah in 1989 to recognize this day as World Population Day. The inspiration for this was drawn from”Five Billions Day” which was celebrated on the same date in 1987. UN’s Development Council back then recognized the urgency and need to divert the focus of international community on increasing population and consequently depleting global resources. Since then it has been celebrated for nearly 3 decades from now.
Now it’s crucial to know that India in the second most populous country of the world after China. Lets see a sneak peak at some statistics:
The current population of India is 1,369,018,830 as of Wednesday, July 10, 2019, based on the latest United Nations estimates.
India’s population is equivalent to 17.74% of the total world’s population
India ranks number 2 in the list of most populated countries
The average growth rate of India is around 1.1 % per year.
This means that India will add 1.49 Cr in 2019 that is near to current population of 74th ranked Somalia. While it is estimated that by 2024, India will most likely overtake China to become the most populous country on the earth.
Now, having a look at regional data, it has been identified that Rajasthan is ranked #7 in the list with population of 7.83 Cr which is an equivalent to the population of Thailand. While we talk about Udaipur, as per the data revealed by Medical, Health and Family Welfare Department, it has been recognized that Udaipur’s population is growing at an average rate of 1.8-2 % annually, which means population goes up by about 20,404 every year, which is quite alarming. Even if we compare it with India’s growth rate it is pretty much higher. In 2018 it was measured to be 642,518.
However, Lakecity has an enhanced economic base. Tourism, horticulture and mineral industries make real contributions to its economy . The handicraft and cottage industry divisions of the city critically impact in adding to the growth of economy of the city. However, the increasing population in adding extraordinary pressure on local economy and resources. In Udaipur, about 2% of households are below poverty line. Other major challenges include water shortages, traffic, congestion and unemployment among youngsters.
On this day it is crucial to think high about the consequences if we continue to grow at this threatening rate!
Forum Celebration Mall, the most preferred hang-out destination amongst the Udaipur folks is celebrating it’s 8th Anniversary today!
With a surfeit of International and National brands peppered across Forum’s Celebration Mall, it is one such place that provides ace shopping experience together with transforming the “hanging-out at mall” culture which was not even existent a few years back. Forum celebration mall is one of its kind and an absolute delight for the shoppers with an average annual footfall of around 47 lakhs.
Largest and the most fancied amid other Udaipur malls, Forum Celebration Mall features the architectural majesty, which the city boasts from ancient times, showcasing magnificent arches and the prodigious central dome. However, what distinguished this mall from other malls in town is the contemporary youth culture which has been spinning since the day of its inception.
Entering into the eighth year of its commencement on July 2nd ’19 let’s know about 8 things that brought a huge transformation in Udaipur:
Mall Culture: Forum Celebration Mall is the first mall which claims of developing the true mall culture in Udaipur. It was only till 2011-12 when most locals were completely new to mall culture having big shopping brands, and international food joints like McDonald’s and Dominos for the first time; entertainment section and many other recreational activities to cherish upon on weekends. Most people admit that they experienced stair escalators for the first time in Celebration Mall back then. Thus a pioneer in building the so-called “big city” culture in Lakecity.
Shopping Destination: From apparels to accessories, Forum celebration Mall provides a one-stop solution to shopaholics. It is the one that redefined the shopping culture transforming it from street bargain hunting to window shopping culture. In fact, it is the hub of big brands including Clarks, Louis Philippe, Adidas, Woodlands are just to name a few. This mall not only offers a wide shopping experience but also a private excursion tour to domestic visitors. This is one of the reasons it is counted among the best places to visit in Udaipur.
Community Building at Forum Celebration Mall: Unlike shopping culture which every other shopping mall in Udaipur offer, Forum Celebration Mall is a prominent place for social cause and other cultural activities. It not only provide reasons for people to unite and cherish but at the same time makes them aware of recent activities and things going on around the globe. An event like Junior Master Chef, Just Dance Competition, the Forum Purple Run (a marathon for awareness regarding Alzheimer’s) is some of the exemplary events that bring people of Udaipur together for a social cause.
Recreational Activities: Before the spread of mall culture which is believed to come from metropolises, there were only a few places within the town where families could gather for fun and leisure. However, with the advent of Forum’s mall, it became the hotspot for foodies, youngsters, families and also tourists. The Gaming zone, Hungama 7D, the external kids play zone, spa nation, the fish spa, and the rides offers far more recreational assortments than ever before.
Movies and Entertainment Hub: Apart from shopping, leisure and entertainment are what people look for while entering a mall or an amusement park. Likewise, the Forum Celebration Mall offers an extensive range of entertainment options which captures the interest of all age groups. The successful establishment of PVR is one of the milestones which management must count for. The PVR cinema is recognized to be the first successfully running multiplex within the town.
Atrium: Forum Celebration Mall has the biggest atrium in terms of areas all over Rajasthan. The central entrance with huge overhead dome provides a ceremonial view to the visitors. The biggest advantage that it enjoys is the huge atrium which provides ample space for car shows and other auto workshops.
A societal junction: The best part that one could notice in this mall is that this place is the hangout junction for all kinds of social classes. People from all classes and interest hit this place most prominently. Existence of big bazar also engrossed crowds from ration shops to mall shopping.
Lifestyle: Lifestyle stores like Lenskart, Iconic, Reliance Trends, Max, etc., provide wide options to come and have a completely different kind of shopping experience. The biggest transformation is earlier people used to visit malls only for fashion commodities only but now the brands like Boxania, Lenskart, Reliance Digital and the like have transformed the buying culture over the years.
Knowing the fact that it is the only junction for all fun, leisure, relaxation, family time, shopping and entertainment, are you all ready to plan a visit?
Beauty pageants have become one of the greatest platforms for the young and budding beauties and handsome hunks to build their career in the glamour industry. These competitions boost confidence and also teach them to get their point across platforms, to work for a cause and to make a difference in the world.
Addressing to the grand success and love received by the Fashion Star last season, they are back with the best beauty pageant of the Rajasthan this year.
Rajasthan’s Next Top Model 2019 is a Rajasthan level beauty contest/pageant. The show is conceptualized and directed by Damini Sharma and Aayush Gupta of well-known brand Fashion Star.
The event aims at encouraging new talent across the state and brings together young talents who want to build their career in fashion, lifestyle and entertainment industry. This contest acts as a unique platform for such youngsters and helps them put a step forward towards the achievement of their bigger dreams. It also helps them showcase their skills and talent.
Unlike many other beauty pageants, Rajasthan’s Next Top Model 2019 is open for all boys and girls aged between 18 to 26. The event is organized and managed by a highly experienced team who keep a check on every aspect during the course of the event.
Auditions for Rajasthan’s Next Top Model 2019 will be held in Udaipur, Jaipur, Jodhpur, and Kota.
The winners of Rajasthan’s Next Top Model 2019 will be entitled to rewards of:
Amount of Rs.50,000
Gift hampers worth Rs.30,000
1 Designer Dress worth Rs.50,000
Crown and Sash
Exclusive Portfolio Photoshoot
The 1st Runner Up will be rewarded with:
Amount of Rs.30,000
Crown and Sash
Gift hampers worth Rs.30,000
Last year the beauty pageant, Mr and Miss Udaipur, was organized by Fashion Star where famous Punjabi singer Jassie Gill, Punjabi and Bollywood Star Ikka Singh, and Big Boss fame Arshi Khan were the esteemed judges for the event. The event received enormous success and love from Udaipurites.
The winners of Mr and Miss Udaipur, Rashid and Ranu Sharma stated that Mr and Miss Udaipur has let them overcome their fears and boosted their confidence as well. The event has taught them the very basics required to go a long way in the fashion and glamour industry.
So while being a part of this contest, the contestants not only get great exposure but also, reach to over thousands of people across the state which are associated with the fashion and glamour industry. An amazing experience is promised by our side.
Cricket, the most entertaining thing that keeps the heartbeat of this 1.3 Billion strong nation alive, is followed as a religion in India. It is not just a sport for the 1.3 billion Indians of the country, it’s an emotion. The gentleman’s game is the most popular sport in this country and witnesses an unmatched fan following, be it, for the teams or any cricketer in particular. Some of them are not just players, they have biopics made after them as well.
It is the same time of the year again where the cricket fans all across the country just cannot take their eyes off from phones and TV screens.
Yes! ‘ICC Cricket World Cup’ is here.
After the super-exciting finish of IPL season, we all were eagerly waiting for the world cup. Who wouldn’t like to sit and watch our favorite players smash some big sixes and crush the rival team while sitting on a couch? Be it workspaces, classrooms, or any other institution, nobody can ever dream to miss even a single moment of the craziness that spreads during the world cup.
The cherry on the cake for the Indians is, tomorrow, i.e on 16th June 2019, we will be witnessing the most epic and the biggest rivalry in the Cricket history of all time. Yes, you guessed it right, it’s…
‘INDIA vs PAKISTAN’
With emotions flowing hot in the veins, watching this epic rivalry only gets better when you have a whole gang of people cheering for your favorite team, binging on delectable food and refreshing drinks! Isn’t it?
So here, we have compiled a list of places where you can catch this super-emotional extravaganza live on the big screen with your ‘Cricket-Bhakt’ gang.
The Artist House: The Artist House Udaipur is set in a striking 80-year-old theatre building. The house offers thematic menu drawing from seasonal and global trends of cocktails and scrumptious food. The in-house mixologists experiment with flavors quintessential to the city which makes the place perfect to come and cheer their favorite team this ICC Cricket World Cup.
Location: Near Ashoka Cinema, Thakre Baba Colony, Surajpole, Nada Khada, Udaipur, Rajasthan 313001
Contact: 073573 68111/ 073573 68222
Twist Family Lounge & Bar: A place where people meet to celebrate some unforgettable moments especially the ones from the ongoing ICC Cricket World Cup in a twisted manner. Situated in the heart of the city and quoted truly as Udaipur’s one of the most exquisite hangout spot.
Special Offer: Buy beer bucket consisting premium brands like Bira, Kingfisher Ultra, Heineken, Corona and get another bucket of beer at flat 30% off.
Location: Connaught Place, Near Shobhagpura Circle, Udaipur, Rajasthan 313001
Contact: 083062 31050
Enigma Restaurant and Lounge: Enigma Restaurant and Lounge have literally got everything a cricket fanatic is looking for. From fine dining to super delicious food to a big screen, Enigma has it all.
Special Offer: Bring your father and get flat 15% discount on all bills on the live screening on Father’s day.
Location: 10 / 11 Haridas Ji Ki Magri, Malla Talai, Udaipur
Contact: 097844 49554
Sun N Moon Restaurant and Cafe: Be it their wacky style of serving food or the simple presentation, that’s quite lit, you are in for an unforgettable treat if you want to watch live matches on a giant screen. Avail discounts and great deals during the 2019 World Cup.
Special Offer: 15% off on food bills up to Rs.1500
20% off on food bills up to Rs.2000
Location: Sun N Moon, Above hotel Udai Niwas, Udaipur, Rajasthan 313001
Contact: 090010 06762
AIR Bar & Kitchen: A sprawling rooftop offering a majestic view of the mighty Monsoon Palace is equipped with a fully stocked bar, a 100 ft long live kitchen, a covered discotheque, a specialty community cooking pad and an entertainment zone with live screening, pool table, speed hockey, foosball. Fancy cocktails and classic drinks with a chic food menu from the streets across the world is a perfect companion to cheer for your favorite team this Cricket World Cup.
Special Offer: Cheer for India with your friends & family at AIR, Udaipur’s only rooftop pub & lounge in a five-star resort. Enjoy Beer Bucket with 5 pints @799 or Nonstop Premium drinks at a special rate of @1099 per person, Selected Snacks @199 and get a flat 20% discount on World Cup Special food menu.
Location: JüSTA Sajjangarh resort & spa, Near Sajjangarh Biological park entrance, Udaipur, Rajasthan 313001
Contact: 099995 38959
Bluemoon Kinaraz: Enjoy the biggest cricket rivalries of this world cup with the best view of the magnanimous City Palace from lakeside with delicious food, amazing dinner arrangements.
Rootage Restaurant And Bar Lounge: With exclusive Interiors and very attractive menu, the Restaurant is located in the heart of the City. With different types of dining spaces which offer cluster spaces, isolated units of different typologies and Dance floor at the center which make Rootage Udaipur’s Biggest Restro Lounge a major attraction for local people and tourist to watch a super-exciting cricket match on big-screen.
Special Offer: Buy 2 get one drink and a dessert free till 7 pm.
Blu Feather Hotel & Spa: Inspired by the elegant and magnificent peacock, Blu feather is designed to host visitors at Udaipur with the utmost care, comfort, and convenience. Love is the key ingredient for all recipes and care is the only formula to manage guests which makes the place the best for any cricket match.
La favela by Aqua Lounge: A restaurant where you can be yourself without pretending anything. Just unculture yourself to break the rules. Get tipsy to the beats of fun, chill and cheer your favorite team over delectable food and refreshing drinks.
Location: Plot No.1, Cross Way Building, 3rd floor, Near Celebration Mall, Bhuwana, Udaipur, Rajasthan 313001
Contact: 096496 86364
Level 5 Rooftop Bistro: One of the best places to go if you want to watch live sports screening. Enjoy delicious food with rejuvenating drinks and more with your favorite game screened live for you.
Location: 57/2, New Fatehpura, Panchwati, Udaipur, Rajasthan 313001
Contact: 082335 00000
The Balcony: “THE BALCONY” was made with a vision of Giving City of Udaipur a Gourmet Experience with a Casual Environment & hangout Place. The place is open for all age group. A Causal Diner is designed to enchant the audience. The rustic-looking, fashionable eatery, with Teal Colors makes the place most suitable to enjoy a super-exciting cricket match.
The Engineer is a 12th Science Maths Achiever’s Award Ceremony. It is a felicitation program for Class 12th PCM students of 2019 Pass out with 75% and above. It is an initiative by Techno NJR Udaipur and Dainik Bhaskar. Any Udaipur class 12th student, 2019 Pass out from CBSE or RBSE board is eligible for the felicitation. Students have registered for the event on NJR Open School for confirming their seat in the event.
हर शहर अपने अंदर बहुत सारी कहानियाँ समेटे हुए होता है। जिसके शहरी उन कहानियों से अनजान होते है,और वो कहानियाँ इतिहास के तह-खाने में कहीं पड़ी पड़ी धूल फ़ाँक रही होती हैं। उदयपुर शहर की भी कुछ ऐसी ही कहानियाँ जो इतिहास के झरोखों से किसी नयी पीढ़ी के ज़हन में बस जाने के इंतज़ार में झांक रही है, पर आज की पीढ़ी की ज़रूरतों ने ज़िंदगी को इस क़दर व्यस्त कर दिया है कि हमें उन बातों को जानने की फ़ुरसत ही नहीं मिलती है। लेकिन हमने आपका काम आज आसान करने की सोची और आपके लिए लाए हैं शहर की कुछ बातें।
क्या आपने कभी उदयपुर शहर के चौराहों के नामों पर गौर किया है?
हर एक शहर में कुछ चीज़ें उसकी पहचान से जुड़ी होती हैं । आप आम तौर पर किसी शहर में चले जाओ तो वहाँ आपको शास्त्री सर्कल, प्रताप सर्कल,अम्बेडकर चौराहा या गांधी चौराहा मिल जाएगा। लेकिन उदयपुर शहर में प्रवेश करते ही आपकी मुलाकात ठोकर चौराहा,सेवाश्रम चौराहा, भट्टा चौराहा से होगी और तब तक होती रहेगी जब तक कोई योगी जी आकर इनका नाम ना बदल दें । आप अक्सर इन चौराहो को पार करते समय सिर्फ इतना ख़याल रखते है कि कोई पुलिस कांस्टेबल आपको ना पकड़ ले और झट से उसे पार कर लेते है और अगर बिना पकड़ाए पार कर लेते हैं , तो खुश हो जाते हैं |
लेकिन क्या कभी आपने थोड़ा ठहर कर इन चौराहों के बारे में जानने कि कोशिश की है, कि इनके नाम ऐसे क्यों है?
नहीं की होगी, हम बता देते है।
शहर में प्रवेश करते ही आपका सामना ठोकर चौराहे से होगा. “ठोकर” एक मेवाड़ी शब्द है जिसका मतलब एक ब्रेकर भी हो सकता है, और कोई ऐसी जगह भी होती है जहाँ लोग आकर कुछ पल के लिए रुकते हो। अब नाम भी जनता ने रखा है तो जनता के पास अलग अलग कहानियाँ भी है।
सिंघानिया लॉ कॉलेज के डीन डॉ.धर्मेश जैन ने बताया कि मादड़ी इंडस्ट्रियल से आते वक़्त यहाँ चौराहे से पहले चढ़ाई होती थी जिसकी वजह से इसे ठोकर कहाँ जाने लगा और इस चौराहे का नाम ठोकर चौराहा पड़ा।
वहीं आयड़ में रहने वाले एक बुजुर्ग से बात की, तो उन्होंने कहा कि आयड़ से आने वाली सड़क पर यह पहला चौराहा था और यहाँ आस पास के लोग मजदूरी पर जाने से पहले रुका करते थे, बातचीत किया करते थे, और इसे ठोकर कहा जाने लगा, एक लैंडमार्क की तरह। फिर बाद में साल बीतते गए और मादड़ी से आने वाली चढ़ाई को भी ख़त्म कर दिया गया पर इस चौराहे ने ठोकर नाम को अपना लिया और खुद का एक अस्तित्व स्थापित कर दिया है।
सेवाश्रम चौराहे पर बजाज कॉर्प लिमिटेड नाम की एक कंपनी का ऑफिस है जिसकी स्थापना 1965 में हुई थी। अब आप सोच रहे होंगे कि कैसा लेखक है, चौराहे की बात करते करते कंपनियों की बात करने लगा है, पर सेवाश्रम चौराहे के नाम के पीछे हाथ भी इसी कंपनी का है। इस का नाम पहले बजाज सेवाश्रम था और इसी कंपनी के नाम के कारण इस चौराहे ने सेवाश्रम नाम से अपनी पहचान बनाई जो आज भी कायम है।
कुम्हारों का भट्टा
अगले विचित्र नाम के साथ नंबर आता है भट्टे चौराहे का और आप सोच रहे होंगे इसमें क्या है, यह तो सामान्य नाम है, और हम सभी इसके बारे में जानते है। पर ज़रा ठहरिये! कुछ नया लाये है।
यह हम सभी जानते हैं कि यहाँ रहने वाले कुम्हार समुदाय के कारण इसका नाम कुम्हारों का भट्टा है पर क्या आप यह जानते हैं कि भट्टे पर रहने वाले कुम्हारों को मेवाड़ राजघराना उत्तरप्रदेश से लेकर आया था, मिट्टी के सामान की अपनी ज़रूरतों को पूरा करने के लिए। आज यहाँ रहने वाले लोगो की छठी, सातवीं पीढ़ी है| शहर का फ़ैलाव होने के बाद यह चौराहा शहर के बीच में आ गया और भट्टों से निकलने वाले धुँए के प्रदूषण कारण सरकार ने भट्टों पर रोक लगा दी। आप जब चौराहे के अंदर गलियों में प्रवेश करेंगे तो लोग आपको आज भी वहां मिट्टी के सामान बनाते हुए मिल जायेंगे और दीवाली के मौके पर शहर के दीयों की जरूरत भी यही पूरी करते है। भट्टे तो रहे नहीं पर एक छाप रह गयी है उन भट्टो की, जो इस चौराहे के नाम के रूप में लोगों को अतीत की याद दिलाता रहेगी ।
दुनिया में चल रही रेट रेस हमें अपनेपन के एहसासों से बहुत दूर ले गयी है। हम उन चीज़ों के बारे में भी कुछ नहीं जानते जहाँ अपनी ज़िंदगी के सबसे हसीन पल गुजार दिए हैं ।
कुछ जगहों से आपको जुड़ाव जरूर होगा पर आप उनके बारे में अगर कुछ नहीं जानते हैं तो वो जुड़ाव आपको आनंदित नहीं करेगा। मैं आशा करता हूँ कि इस आर्टिकल को पढ़ने के बाद आपका इन चौराहों को देखने का नज़रिया बदलेगा। ऐसी कई बातें और कहानियां हैं जो आपका इंतज़ार कर रही हैं । ज़रूरत है तो बस आपकी कुछ पलों की फुर्सत की…
अगर आप भी शहर की ऐसी जगहों के बारे में जानते है तो हमें बताएं कमेंटबॉक्स में और अगर किसी जगह की कहानी जानना चाहते है तो भी सुझाएँ ताकि हम आपके लिए ऐसी और कहानियाँ निकाल कर ला सकें |
India’s first online custom furniture store Wooden Street instigates to make its physical presence in the ‘Capital of Mewar Kingdom’ – Udaipur.
Amidst the beautiful lakes and the lavish island hotels, Wooden Street planned the 14th brick and mortar store in a 1238 Sq.ft. to bring this royal city one step closer to their dream furniture.
On this, Mr. Lokendra Ranawat, the CEO of the company stated, “Every home has some sense of commonness and this is why we have designed the entire store like a lived-in apartment. This is the place where the Udaipur folks will be able to see the reflection of their home’’.
Why Brick and Mortar Store in the form of a House?
Believing that the people connect more to a well-furnished home rather than the chaotic stores, Wooden Street is showcasing its products in a 3-BHK apartment.
From the social center of the abode, i.e., living room to the cooking mansion, i.e., kitchen, Wooden Street has showcased all of its wooden furniture delicacies in the different rooms.
A Store Tour- Discover Your Home Vibe
Living room: With the loveliness of the floral fabric upholstered wing-back chair to the naturalness of the wooden sofa set, everything is painted in a singular theme to provide an inspiring regal living room decor.
Bedroom: The bedroom sanctuary stretches from a comfortable king size bed with the floral bed-sheet and assorted cushions to the upholstered bench and a lounge chair, everything is brought up together.
Dining: In accordance with the wooden theme, the dining room consists of all the necessary furniture units, ranging from the ‘essential’ wooden dining table set to the storage space ‘backer’ dining cabinet.
Kitchen: Coming to the cooking mansion, they have equipped it with the right furniture units that excel in storage as well as functionality to satiate current requirements with a traditional vibe.
Wooden Street’s Journey to the Top – The Blooming Success
Wooden Street embarked its journey in 2015 with only 10 efficient employees, and now has a team of 300+ powerful creative minds.
Their great skills of customizing furniture have served happiness and allowed customers to reflect their personalities in their homes.
With the vision of PAN India presence, the company continues to extend painstakingly with 13+ experience stores including major cities such as Bangalore, Pune, Mumbai, and Hyderabad.
In the past 4 years, they have served 50,000+ customers in 100+ cities across India. Towards the end of the financial year 2019, they have planned to expand their experience stores to 25!
“Shopping is all about experience and spreading love in form of furniture across 300+ cities, and this gives us the confidence to provide you different buying experience through our brick and mortar stores,” says COO, Virendra Ranawat.
Do Visit, bond and thoroughly inspect the quality of furniture at Wooden Street’s first brick and mortar store in our lovely city Udaipur at Mangalam Complex!
Stomping down heavily on Hotel Leela Venture Ltd, market regulator Securities and Exchange Board of India (SEBI) has barred Leela Venture from selling its 4 high-profile hotels, comprising Hotel Leela Palace Udaipur and other assets to the Canadian investment fund Brookfield Asset Management.
The dramatic move came just after a day when India Tobacco Company (ITC) which holds around 8% of stake in the company, moved the National Company Law Tribunal (NCLT) in contrary to Hotel Leela Venture claiming “oppression and mismanagement”.
ITC also claimed that the deal between Leela Venture Ltd and the Canadian investment fund Brookfield was against the company’s and stockholders’ interests. SEBI has also received representations from ITC on the same matter and had mentioned this in its letter to Leela.
ITC’s plea was cited before the Mumbai bench of the NCLT, which postponed the matter for hearing on the coming Wednesday, Hotel Leela Venture had said in a regulatory filing on Tuesday.
“Representations and allegations against Hotel Leela Venture Ltd, as received by SEBI in relation to the issue, concerns the interest of the investors in the security market. While the representations are still being examined by SEBI, in scarcity of time involved and keeping the interest of investors in mind, they are advised to make sure that none of the transactions planned in the postal ballot notice dated 18 March 2019 are acted upon till further directions from SEBI,” states Hotel Leela Venture in the filing.
With the petition to Company Law Tribunal, ITC also filed two applications seeking a waiver of the requirement of the minimum threshold of 10% shareholding. ITC holds a 7.92% stake in Hotel Leela Venture. Earlier, the board of Hotel Leela Venture, while selling the hotel business, together with all assets and liabilities of the hotels located at Bangalore, Chennai, Delhi and Udaipur on a slump sale basis, split out Rs.150 crore each to the former promoters – Vivek and Dinesh Nair. Further, the sale to Brookfield also included 100% shareholding of the company in Leela Palaces and Resorts Ltd which owns the property and holds licenses for the development of a hotel in Agra.
All other management contracts currently in operation including the employees have been reassigned to Brookfield. The total payable amount to the company is of Rs.3,950 crore which is subject to adjustments on account of net working capital plus the applicable transaction cost. It is being said that the company will continue to operate the hotel in Mumbai, own a piece of land in Hyderabad and the joint development project of residential apartments in association with Prestige Developers in Bangalore.
Canadian corporation Brookfield still reserves the right of refusal over the company’s hotel in Mumbai, as a part of the business transaction.