Punjab and Haryana High Court cancels land allotment to DLF by Haryana government

Punjab and Haryana High Court cancels land allotment to DLF by Haryana government pic.twitter.com/NoBcvsHrkI
— Press Release Watch (@PrReleaseWatch) September 3, 2014

Residents of Wazirabad village had filled a public interest litigation (PIL) in the Punjab and Haryana High Court against allotment of around 350 acres prime land to the real estate giant DLF, that was acquired for public purpose by the Haryana government.
The PIL was filed by Rajkumr Yadav and other residents of Wazirabad village, who alleged that acting on the instance of DLF, the Haryana government acquired the land for public purpose and then allotted it to the company.
First, 75 acres of land was acquired by HUDA through notification of Sep 8, 1997, and then around 275 acres of land was acquired by HSIIDC through notification of Aug 8, 2003.The land was transferred to DLF Ltd. on February 9, 2010, on free hold basis.

DLF completes the sale of Aman Resorts to Adrian Zecha and Peak Hotels

DLF GLOBAL HOSPITALITY LTD “DGHL” a 100% step down subsidiary of DLF Ltd. announced that it has completed the sale of 100% equity stake in Silverlink Resorts Ltd. “SRL” the owner of Amanresorts to Aman Resorts Group Ltd. “ARGL” a Joint Venture between Peak Hotels & Resorts Group Ltd. “PHRL” and Mr. Adrian Zecha, the founder of Amanresorts for an Enterprise Value of USD 358 million. The sale has been in the form of management buyout. DLF Global Hospitality Limited had purchased 100% equity in Amanresorts in 2007 from a group of investors. The deal excludes the iconic Lodhi Hotel in Delhi which shall remain a part of DLF Ltd.

Commenting on the sale, Mr. Saurabh Chawla, Executive Director Finance at DLF said – “this sale of business is another major milestone in DLF’s strategy to focus on its core business of real estate and divest non-core businesses and assets.”

Adrian Zecha commented, “I am delighted to partner with Peak as they share my vision for Aman’s future growth and are committed to sustain our Company’s reputation for many decades to come.”

About DLF
Information is available on the Company website www.dlf.in

About Aman
The first Amanresorts property, Amanpuri, opened January 1988 in Phuket, Thailand.  Adriaan Zecha envisioned a group of intimate retreats in beautiful surroundings with discreet service and the unassuming, warm hospitality of a gracious residence. Today Amanresourts has grown to encompass 26 of the world’s most beautifully designed resorts in 18 countries including the recently opened Aman Venice and Aman Vietnam, and has garnered more than 2000 awards and accolades.

About Peak Hotels & Resorts Ltd.
Peak Hotels & Resorts Ltd. is an investor in the luxury hospitality industry.  It pursues investments globally in sustainable, socially responsibly luxury brands in partnership with seasoned management teams.