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EIH Associated Hotels plans rights issue.
Byline: Our Bureau
Board meet on March 28 to consider merger of subsidiary
The board of EIH Associated Hotels Ltd will consider on March 28, a proposal of rights issue as well as merger of the company's wholly owned subsidiary Island Hotel Maharaj Ltd with EIH Associated. Both the companies' headquarters are located in Chennai.
The realty major Rahejas, and EIH Ltd (as also Oberois) are principal promoters of the EIH Associated.
Ring-fenced
According to market observers, Oberois with the help of Mukesh Ambani Group has already ring-fenced the control over EIH Ltd. aoeThis move could be seen as an obvious extension of a consolidation and …
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