Sayaji Hotels (Indore) Limited has received official regulatory disclosure from Century 21 Officespace Private Limited regarding the release of pledge on 1,78,000 equity shares. The pledge release was executed on March 23, 2026, following the repayment of loan obligations to A R Hospitality Limited, as disclosed through official filing under SEBI Takeover Regulations.

Official Regulatory Filing

The company filed the disclosure on March 26, 2026, through Company Secretary & Compliance Officer Aaditya Kasera to BSE Limited. The filing includes comprehensive documentation pursuant to Regulation 31(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011:

Pledge Release Specifications

The regulatory disclosure reveals detailed information about the encumbrance release executed by Century 21 Officespace Private Limited:

Promoter Shareholding Analysis

Century 21 Officespace Private Limited maintains substantial promoter holdings in Sayaji Hotels with the following shareholding structure:

Original Encumbrance Background

The pledge was originally created on August 1, 2024, as part of a financing arrangement with specific security parameters:

Regulatory Compliance Framework

Century 21 Officespace Private Limited, incorporated under CIN U47990MP2021PTC057258, maintains its registered address at 11th floor, C21 Business Park, C21 Square, Opposite Radisson Blue Hotel, Mr-10, Indore-452010. The regulatory filing confirms that the encumbered shares represented less than 50% of promoter shareholding and less than 20% of total share capital, ensuring full compliance with SEBI regulatory thresholds.

The pledge release strengthens the promoter's unencumbered shareholding position in the hospitality company, with all documentation properly filed and authenticated through digital signatures as per regulatory requirements.

Sayaji Hotels (Indore) Limited has received a substantial penalty order from the Indore Municipal Corporation (IMC) regarding property tax assessment violations. The company disclosed this development to BSE Limited on March 17, 2026, in compliance with regulatory requirements under SEBI Listing Regulations.

Penalty Details and Timeline

The Commissioner of Indore Municipal Corporation imposed a penalty of ₹32,69,780 on the company under the provisions of the Madhya Pradesh Municipal Corporation Act, 1956. The order was originally passed on March 6, 2026, but was received by the company on March 16, 2026.

Nature of Violation

The penalty order pertains specifically to property tax assessment issues. The Indore Municipal Corporation has classified this as a case involving tax assessment violations, leading to the substantial financial penalty imposed on the hospitality company.

Company's Response and Legal Action

Sayaji Hotels (Indore) Limited has announced its intention to challenge the penalty order through appropriate legal channels. The company stated it will take necessary legal action against the said order and committed to keeping the stock exchange informed of any further developments as required under regulatory obligations.

Financial Impact

The penalty of ₹32,69,780 represents a quantifiable monetary impact on the company's financial position. This amount will need to be accounted for in the company's financial planning, pending the outcome of any legal proceedings the company may initiate.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Aaditya Kasera signed the regulatory filing, ensuring proper compliance with stock exchange notification requirements.