Sagar Ratna founder Jayaram Banan regains control

Banan took full control of the venture after six years

Jayaram Banan, founder of the south Indian restaurant chain Sagar Ratna, took full control of the venture after six years. Banan, who had sold 77 per cent stake in Sagar Ratna Restaurants Pvt Ltd to Fander Equity Holdings in 2011 for Rs 135.7 crore, bought the stake through his company Ocean Pearls Hotels Pvt Ltd for an undisclosed amount last week after months of negotiation.

During the past six years, disputes over management and operations of Sagar Ratna had emerged a number of times between Ocean Pearls Hotels and Fander Equity. Last year, Fander Equity had put up its stake