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Mumbai, Dec. 24 Advani Hotels & Resorts India Ltd in a notice to Bombay Stock Exchange said that the company’s board of directors has ratified and approved the sale of the flight catering unit for a price of Rs 20.3 crore at its meeting held on December 21, in terms of a memorandum of understanding dated December 8 subject to appropriate approvals including the consent of the shareholders.

The company informed that its board has directed that a postal ballot be taken for the purpose of obtaining the consent of the shareholders.

Advani Hotels’ shares closed at Rs 96.75, 1.88 per cent down from previous day’s close.

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