Jindal Hotels Limited held its 41st Annual General Meeting on September 22, 2026, via Video Conferencing. The meeting concluded with the approval of audited financial statements for FY26 and key director re-appointments.

Meeting proceedings and attendance

The meeting commenced at 2:00 pm IST and was presided over by Mrs. Palak Gandhi, Non-executive Independent Director. A total of 60 members participated in the virtual meeting out of 5,449 shareholders on the register as of the cut-off date, September 15, 2026. The Company Secretary welcomed the members, confirming that the meeting was convened in accordance with Ministry of Corporate Affairs and SEBI circulars.

The Statutory Auditors, Internal Auditors, and Secretarial Auditor expressed unqualified opinions in their respective reports for the financial year ended March 31, 2026. No qualifications or adverse comments were noted regarding the financial statements or matters bearing material impact on the company's functioning.

Resolutions passed

Members approved the following items of business:

Management interaction

Mr. Piyush Shah, Managing Director, addressed shareholder queries regarding the company's accounts, business operations, and future roadmap. The Chairperson thanked bankers, government authorities, and the hotel team for their support during the year. The formal business concluded at 2:50 pm, followed by a 15-minute window for e-voting completion.

Voting and scrutiny

The company engaged MUFG Intime India Private Limited to facilitate remote e-voting and participation through VC/OAVM. Mr. Ranjit Kumar Singh, Practising Company Secretary, served as the Scrutinizer for the voting process. The consolidated Scrutiniser's Report will be submitted to stock exchanges and published on the company's website.

Jindal Hotels has announced its 41st Annual General Meeting (AGM) for September 22, 2026. The meeting will address a material related-party transaction involving the acquisition of immovable property from company promoters.

The special business includes the purchase of 2,015 square metres of land in Vadodara, where the Grand Mercure Surya Palace is located. The transaction aims to consolidate ownership titles and eliminate lease uncertainties.

AGM Schedule and Logistics

The meeting will be held via Video Conferencing or Other Audio-Visual Means (VC/OAVM). Shareholders must hold shares on the register as of September 15, 2026, to participate and vote.

Key Agenda Items

Land Acquisition from Promoters

The most significant item on the agenda is the approval of a material related-party transaction. The company proposes to acquire land admeasuring 2,015 sq metres from Managing Director Mr. Piyush D. Shah and Non-Executive Director Ms. Chanda Agrawal.

The total consideration for the transaction is capped at ₹18.94 crore (₹18,93,80,000). This amount represents approximately 38.96% of the company's annual consolidated turnover for the preceding financial year. The valuation was determined by M/s. Hitesh Shah & Associates, registered government valuers, based on prevailing market prices and jantri values.

Currently, Jindal Hotels owns the superstructure on this land but holds it under a 30-year lease deed expiring in May 2030. Acquiring the freehold title will consolidate ownership of the entire property area (approx. 4,249 sq metres) and remove succession-related uncertainties associated with the lease.

Re-appointment of Directors

Shareholders will vote on the re-appointment of two directors:

• Mrs. Chanda Agrawal: Retiring by rotation, she seeks re-appointment as a Non-Executive Director. She holds 12.36% of the company's shares.
• Ms. Palak Gandhi: An Independent Director since July 2022, she seeks re-appointment for a second term of five years, from July 12, 2027, to July 11, 2032.

Voting Instructions

Remote e-voting begins on September 19, 2026, at 9:00 am and ends on September 21, 2026, at 5:00 pm. Shareholders holding shares on the cut-off date can cast votes electronically through NSDL, CDSL, or the InstaVote platform provided by MUFG Intime India Private Limited.