KAMAT HOTELS (INDIA) LTD. - 526668 - Announcement under Regulation 30 (LODR)-Strikes /Lockouts / Disturbances
Sub: Clarification with respect to an announcement submitted to the Stock Exchanges dated: May 08, 2019 pursuant to the requirements of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 regarding damages caused at Company's unit at Lotus Resorts situated at Konark, Odisha due to 'Fani Cyclone'. Re: NSE email dated 15th May, 2019. With reference to the email dated 15th May, 2019 by National Stock Exchange seeking clarification on the captioned subject matter, please find below point wise clarification to the queries raised therein: 1. Estimated impact on the production/operations in case of strikes/lock outs- The Company's unit at Lotus Resorts situated at Konark, Odisha has been heavily affected by 'Fani Cyclone' and the hotel operations are temporarily at halt. The Company is also in the process to revive the same at earliest. 2. Whether loss/damage covered by insurance or not including amount- Yes, the loss/damage caused due to 'Fani Cyclone' is covered by insurance. The Company has insurance cover of approx Rs. 9 crore for the said unit at Lotus Resorts situated at Konark, Odisha. 3. Expected quantum of loss/damage caused- The Company along with the insurance agency is in the process of identifying the expected quantum of loss/damages due to 'Fani Cyclone' and loss/damages are substantially covered in the insurance by the Company of the said unit. The same has been delayed due to lack of power and access over 10 days. Please take the same on your record. Yours faithfully, For Kamat Hotels (India) Limited Smita Nanda Chief Financial Officer16-05-2019