Asian Hotels (East) Limited promoter Ratna Saraf gifted 20,26,520 equity shares, representing an 11.72% stake, to Arun Kumar Saraf in an off-market transaction on August 27, 2026.

The inter-se transfer among immediate relatives within the promoter group does not alter the aggregate holding of the promoters. The total promoter holding remains at 65.63% of the company’s voting capital.

Transaction Details

The disposal was disclosed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The transaction qualifies for exemption under Regulation 10(1)(a)(i) as it involves a gift between persons acting in concert.

Ratna Saraf’s individual stake reduced from 23.44% to 11.72%, while Arun Kumar Saraf’s holding increased from 0.08% to 11.80%.

Promoter Group Structure

The other members of the promoter group maintained unchanged holdings:

• Umesh Saraf: 37,096 shares (0.21%)
• Saraf Industries Limited: 72,45,945 shares (41.90%)

The company’s total equity share capital remains ₹17,29,16,960, consisting of 1,72,91,696 equity shares of face value ₹10 each. No shares were encumbered or pledged in this transaction.

Regulatory Disclosure Timeline

The acquirer, Arun Kumar Saraf, filed the necessary disclosure under Regulation 10(6) of the SEBI Takeover Code with the stock exchanges on September 1, 2026. The initial disclosure regarding the proposed acquisition was made under Regulation 10(5) on August 19, 2026, adhering to the specified timeline.

Asian Hotels (East) shareholders approved the reappointment of Mr Sandipan Chakravortty as a non-executive independent director for a second five-year term. The resolution passed at the 19th annual general meeting held on August 27, 2026.

The board confirmed that Mr Chakravortty satisfies the independence criteria under the Companies Act, 2013 and SEBI Listing Regulations, 2015. The company also disclosed his continuation as a director under Regulation 17(1A) since he has attained the age of 75 years.

Voting Results

The total votes polled across all resolutions stood at 12,180,339, representing 70.44% of the outstanding shares held by 17,291,696 shareholders. The promoter group held 11,349,179 shares, while public institutional holders held 2,056,391 shares and other public shareholders held 3,886,126 shares.

Director Appointments

Shareholders approved the reappointment of Mr Devesh Saraf (DIN: 07778585), who retired by rotation. The resolution received 95.97% support in favour. Notably, while the promoter group voted unanimously in favour, institutional holders voted against the proposal at 99.68%. Other public shareholders supported the reappointment with 59.11% of their votes.

The board also secured approval for the reappointment of Mr Sandipan Chakravortty (DIN: 00053550) as an independent director for a second term of five years, from August 10, 2026 to August 9, 2031. This special resolution also passed with 95.97% votes in favour, mirroring the split seen in the previous resolution with strong promoter support and significant opposition from institutional investors.

Meeting Details

Mr Umesh Saraf, Joint Managing Director, chaired the proceedings. Ms Priyanka Rudra served as the scrutinizer for the voting process. National Securities Depository Limited facilitated the e-voting mechanism.

The statutory auditor's report on the FY26 financials carried a qualified opinion, whereas the secretarial auditor issued an unqualified opinion. The results have been uploaded to the company website in compliance with Regulation 44(3) of the SEBI Listing Regulations, 2015.