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The latest update is out from Lemon Tree Hotels Ltd. ( (IN:LEMONTREE) ).
Lemon Tree Hotels Ltd. disclosed that the company and its subsidiaries have received a notice from the Employees State Insurance Corporation in Okhla, New Delhi. The notice demands payment of Rs 557 for a violation related to delayed payment of ESI contributions under the ESI (General) Regulations, 1950.
The company stated that the matter pertains to non-payment of contributions within the prescribed time and manner as required by regulation. It clarified that the notice does not have any material impact on its financial or operational activities, beyond the small monetary amount specified in the order.
More about Lemon Tree Hotels Ltd.
Lemon Tree Hotels Ltd. operates in the hospitality industry, running a portfolio of hotels across India with a focus on mid-priced and upscale accommodations. The company serves business and leisure travelers through a mix of owned and managed properties, positioning itself as a prominent player in the domestic hotel segment.
Average Trading Volume: 291,509
Technical Sentiment Signal: Sell
Current Market Cap: 84.18B INR
See more insights into LEMONTREE stock on TipRanks’ Stock Analysis page.