Archive · 15 Sep 2026
Lemon Tree Hotels Partners RJ Corp for Shillong Project
Lemon Tree Hotels is working with RJ Corp to develop the Aurika Shillong project.
The project company is called Arum Hotels.
RJ Corp will buy 49% of that company by purchasing newly issued shares.
Lemon Tree’s subsidiary, Carnation Hotels, will keep 51%.
This means Lemon Tree will still control the project company.
Both partners will appoint the same number of directors to Arum’s board.
Neither partner can sell its shares to outsiders outside its affiliate group.
The share purchase is expected to finish within seven days of the agreement becoming effective.
Arum had no turnover and a negative net worth in the last financial year.
Lemon Tree Hotels’ subsidiary Carnation Hotels signed a Joint Venture Agreement with RJ Corp for the Aurika Shillong project.
RJ Corp will acquire a 49% stake in Arum Hotels by subscribing to 47,65,394 newly issued shares.
Carnation Hotels will retain a 51% majority stake in Arum Hotels.
Arum’s board will have an equal number of directors nominated by Carnation and RJ Corp.
Arum reported nil turnover and negative net worth of ₹12.97 lakh in the last financial year.
- Who
- Lemon Tree Hotels’ subsidiary Carnation Hotels Private Ltd and RJ Corp.
- What
- They signed a Joint Venture Agreement for the development of the Aurika Shillong project.
- When
- The disclosure was published on September 15, 2026; the company said the agreement was disclosed on Sunday.
- Where
- Shillong, through the project company Arum Hotels Private Ltd.
- Why
- To bring RJ Corp into the Aurika Shillong project as a 49% equity partner.
- Project
- Aurika Shillong
- Project company
- Arum Hotels Private Ltd
- RJ Corp stake
- 49%
- Carnation Hotels stake
- 51%
- New shares
- 47,65,394 equity shares
- Share face value
- ₹10 per share
- Expected completion
- Within seven days of the JVA’s effective date
- Last financial year performance
- Nil turnover and net worth of negative ₹12.97 lakh