Inox Leisure Ltd. (ILL) has scaled down its expansion plans for 2016-17 largely due to regulatory delays, according to Deepak Asher, Director and Group Head – Corporate Finance, Inox Group of Companies. During the current year, ILL will open 59 to 60 screens against 80 screens announced earlier. This would involve expenditure of Rs.200 crore.
“This is largely due to regulatory delays. We have seen properties which are completely fitted out, ready for operations but we are yet to receive approvals from authorities. One case in point is a property which has been completely ready for 12 months and the permission is not coming,” he said.
