Ceebros Hotels Private Limited agreed to acquire Chennai Project Division from Viceroy Hotels Ltd. (BSE:523796) for INR 4.8 billion on May 8, 2013. The transaction is subject to approval by shareholders of Viceroy and was approved by the Board of Directors of Viceroy Hotels. As on June 17, 2013, the shareholders of Viceroy Hotels have approved the deal. Aarthi Consultants Pvt Ltd acted as registrar to Viceroy Hotels.

Ceebros Hotels Private Limited completed the acquisition of Chennai Project Division from Viceroy Hotels Ltd. (BSE:523796) on January 1, 2014. The transaction was closed after reaching a settlement with the bankers of Chennai Project Division.