The board of Fleur Hotels Limited, a material subsidiary of Lemon Tree Hotels , approved two strategic expansion moves on September 18, 2026. The decisions include acquiring land in Mumbai for hotel development and incorporating a wholly-owned subsidiary in the Maldives.

These approvals were made during a board meeting held on September 18, 2026. The disclosures were made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mumbai Land Acquisition

Fleur Hotels Limited is in the process of executing definitive agreements for the purchase of a land parcel in Mumbai. The acquisition is intended for the development of a new hotel property. The subsidiary is proceeding in accordance with applicable laws and procedural requirements.

Maldives Subsidiary Incorporation

The board also approved the incorporation of a wholly-owned subsidiary in the Republic of Maldives. The entity will operate in the hospitality sector and other ancillary activities. Key details of the proposed structure are outlined below.

The initial subscription to the capital of the proposed company will be made via cash bank transfer as per Reserve Bank of India guidelines. The name of the entity is yet to be finalized and remains subject to regulatory approval in the Maldives. The incorporation process has not yet been initiated.

Further details regarding the overseas direct investment were enclosed as Annexure-A in the filing, in accordance with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Lemon Tree Hotels held its 34th Annual General Meeting on September 18, 2026, where shareholders approved key governance changes and adopted the financial statements for FY26. The meeting was conducted via video conferencing in compliance with SEBI and MCA regulations.

The most significant resolution passed was the appointment of Mr. Patanjali Govind Keswani as Non-Executive Chairman effective April 1, 2027. Currently serving as Chairman and Executive Director, Keswani will transition to a non-executive role, marking a structural shift in the company's leadership hierarchy.

Governance and Board Changes

Shareholders also approved the reappointment of two directors retiring by rotation:

• Mr. Aditya Madhav Keswani (DIN: 07208901)
• Mr. Willem Albertus Hazeleger (DIN: 0790239)

Mr. Patanjali Govind Keswani chaired the proceedings, welcoming members and introducing the board of directors, key managerial personnel, and statutory auditors. Deloitte Haskins & Sells LLP served as the statutory auditors, while DPV & Associates acted as secretarial auditors.

Financial Statements and Audit

The meeting addressed the adoption of the Audited Standalone and Consolidated Financial Statements for the financial year ended March 31, 2026. Both the Statutory Auditors' Report and the Secretarial Audit Report for FY26 were unqualified, containing no comments or remarks.

What the Numbers Show

The clean audit opinions indicate no material irregularities in the financial reporting or corporate governance practices for FY26. The absence of qualifications suggests that the company's internal controls and compliance mechanisms functioned effectively during the period under review.

Voting Process

Remote e-voting was available from September 14, 2026, at 9:00 am until September 17, 2026, at 5:00 pm. Members attending via VC/OAVM who had not voted remotely could cast their votes electronically during the meeting through the NSDL portal. Mr. Prakash Verma, a practicing company secretary, was appointed as the scrutinizer to supervise the voting process.

The results of the e-voting will be submitted to the stock exchanges within two working days of the meeting's conclusion. The AGM concluded at 1:29 pm.