Advent Hotels International Limited announced the resignation of Rajeev RA as an Independent Director, effective September 25, 2026. The departure stems from a regulatory conflict involving a pending loan facility from an NBFC where he also serves on the board.

The resignation was disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. In his resignation letter, Rajeev RA cited Paragraph 2(c) of RBI Circular No. RBI/2022-23/29 dated April 19, 2022. This circular restricts Non-Banking Financial Companies (NBFCs) from granting financial facilities to companies that share a common director.

Regulatory Compliance and Conflict of Interest

Rajeev RA served as an Independent Director on the board of both Advent Hotels International and Authum Investment & Infrastructure Limited. The latter is an NBFC from which Advent Hotels is seeking a financial loan. The director stated that his continuance on the board would be inconsistent with the aforementioned regulatory requirement, prompting his resignation in the best interest of the company.

Upon resignation, he ceased to be a member of various statutory committees within the company. He confirmed there were no other material reasons for his departure beyond the regulatory constraint described.

Directorship Details

The disclosure highlights the specific overlap in directorships that triggered the regulatory issue:

The filing confirms that Rajeev RA held no membership in the Board Committee of Authum Investment & Infrastructure Limited at the time of resignation. The company’s Company Secretary, Chirag Sojitra, submitted the necessary disclosures to both BSE and NSE listing departments to ensure compliance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Advent Hotels International issued a revised disclosure on September 9, 2026, correcting significant discrepancies in its earlier filing regarding the release of encumbrance over promoter shares. The company clarified that the mismatch in reported percentages and share counts was due to inadvertent human error.

The revision addresses observations raised by stock exchanges concerning its initial intimation dated August 26, 2026. The filing is submitted under Regulation 31(1) and 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Disclosure Details

The corrected filing pertains to the release of pledge over 21,70,000 equity shares held by promoter Sanjana Goenka. The event dates for the release are August 18, 2026 (for 13,15,000 shares) and August 19, 2026 (for 8,55,000 shares). The shares were pledged in favor of IDBI Trusteeship Services Limited, acting as trustee for HDFC Limited.

The underlying facility was sanctioned to MIG (Bandra) Realtors & Builders Private Limited, a wholly owned subsidiary of Valor Estate Limited. The pledge was released after the underlying facility was fully repaid.

Promoter Holding Structure

The disclosure provides a snapshot of the total promoter group holding, which stands at 1,31,06,183 shares, representing 24.31% of the total share capital. Following the release, the encumbered portion of the promoter group's holding is corrected to 4.02% of the total share capital.

Key entities within the promoter group include:

• Goenka Family Trust: 70,75,000 shares (13.12%)
• Sanjana Vinod Goenka: 23,38,211 shares (4.33%)
• Jayardhan Goenka: 13,63,211 shares (2.53%)
• Aseela Vinod Goenka: 16,10,478 shares (2.99%)

Other promoters listed include Vinod Goenka, Vinod Goenka HUF, Top Notch Buildcon LLP, Shravan Kumar Bali, Shanita Deepak Jain, Karim Gulamali Morani, Shruti Ahuja, and V S Erectors and Builders Private Limited.

The clarification notes that Ms. Aseela Goenka had also pledged 10,90,529 shares for the same financial facility, which were fully released along with Ms. Sanjana Goenka's shares.