 "Indian Hotels seeks shareholder nod to lend Rs 700 cr to subsidiary")
Tata-controlled Indian Hotels Company has sought shareholders' nod to provide Rs 700 crore as loan to its wholly-owned subsidiary Lands End Properties.
Lands End Properties owns 100% in Skydeck Properties and Developers, which owns a significant stake in ELEL Hotels and Investments that owns leasehold rights for the Sea Rock land in Bandra, Mumbai.
The loans shall be utilised to refinance or redeem its existing debt.