Leela Palaces Hotels & Resorts Limited has successfully completed its postal ballot process, with shareholders approving two special resolutions related to the company's Employee Stock Option Scheme 2024. The remote e-voting concluded on April 16, 2026, demonstrating strong shareholder participation and support for the proposed amendments.

Postal Ballot Process Overview

The company conducted the postal ballot through remote e-voting process in accordance with Section 108 and Section 110 of the Companies Act, 2013. The voting period commenced on March 18, 2026, at 9:00 a.m. and concluded on April 16, 2026, at 5:00 p.m. The postal ballot notice was dispatched electronically to shareholders on March 16, 2026.

Resolution Details and Comprehensive Voting Results

Both special resolutions pertained to the ratification and amendment of The Leela Employee Stock Option Scheme 2024. The first resolution focused on the ESOP scheme for the company's employees, while the second resolution extended the scheme to employees of subsidiary, holding, and associate companies.

Resolution 1: ESOP Scheme Ratification

Resolution 2: Extended ESOP Scheme

Scrutinizer's Report and Regulatory Compliance

Komal Shrimankar, Partner at BMP & Co. LLP, served as the appointed scrutinizer for the postal ballot process. The scrutinizer was appointed by the Board of Directors on March 16, 2026, and submitted the final report on April 16, 2026. The scrutinizer confirmed that both resolutions were passed with requisite majority in a fair and transparent manner.

The voting data was downloaded from NSDL's e-voting portal on April 16, 2026, at 5:03 p.m. in the presence of two independent witnesses. The process ensured complete transparency and compliance with regulatory requirements under the Companies Act, 2013, and SEBI Listing Regulations.

Stock Exchange Notification

The company has submitted the voting results and scrutinizer's report to BSE Limited and National Stock Exchange of India Limited for regulatory compliance under Regulation 44 of SEBI Listing Regulations. The postal ballot process was conducted in full compliance with various regulatory frameworks including the Companies Act, 2013, SEBI Listing Regulations, and relevant MCA circulars. The company published newspaper advertisements in The Economic Times and Navbharat Times on March 17, 2026, as required under the Companies (Management and Administration) Rules, 2014.

Leela Palaces Hotels & Resorts Limited has informed stock exchanges about an updated GST order received by its material subsidiary under regulatory disclosure requirements. The company disclosed this development on April 1, 2026, pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Updated GST Order Details

Tulsi Palace Resort Private Limited (TPRPL), a material subsidiary of the company, received an order from the Office of the Superintendent, Central GST Range-XXII, Jaipur on March 31, 2026. The order confirms a GST demand along with interest and penalty components.

Nature of Alleged Violation

The GST order alleges that endorsement from the specified officer of the SEZ is required to evidence receipt of services by the SEZ unit for its authorised operations. This relates to compliance requirements for Special Economic Zone (SEZ) operations and service receipt documentation under GST regulations.

Company's Response and Impact Assessment

Leela Palaces Hotels & Resorts Limited has stated that there is no material impact on the financial, operational or other activities of the company. The subsidiary TPRPL is currently in the process of evaluating appropriate legal remedies available under applicable laws, including the possibility of filing an appeal against the said order.

Regulatory Compliance

The disclosure was made in compliance with SEBI regulations and circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The company has also made this information available on its investor website at www.theleela.com/investors as part of its transparency obligations to stakeholders.