U. P. Hotels Limited failed to secure shareholder approval for its proposal to extend the timeline for voluntarily delisting equity shares from BSE Limited. The special resolution, put to a postal ballot, did not receive the requisite majority, as detailed in the scrutinizer's report dated July 3, 2026. Consequently, the company cannot proceed with the application to SEBI for the requested time extension.

The remote e-voting process commenced on June 3, 2026, and concluded on July 2, 2026. A total of 68 shareholders participated, casting 1,209,217 valid votes. The voting rights of the Promoter and Promoter Group were subject to restrictions imposed by a SEBI order dated June 4, 2013, due to non-compliance with minimum public shareholding requirements. This order limited the promoters' voting rights to 39.41% of their shareholding.

Voting Results Breakdown

The resolution required a special majority to pass. While the aggregate votes showed a majority in favour, the specific regulatory requirements regarding promoter voting rights and the overall approval threshold were not met. The table below details the voting pattern across different categories.

Regulatory Constraints on Promoter Voting

The SEBI order dated June 4, 2013, played a critical role in the final outcome. The Promoter and Promoter Group held 4,772,960 equity shares, but their voting rights were capped at 1,881,120 shares, representing 39.41% of their holding. This restriction significantly impacted the total votes considered for the resolution. Of the total votes polled, 1,099,076 were attributed to the promoters under the SEBI order formula.

Deepak Bansal, a Practicing Company Secretary appointed as the Scrutinizer, confirmed that the postal ballot process was conducted fairly and transparently. The report explicitly states that the special resolution was "Not Approved." The results have been disclosed on the company's website and the BSE Limited website. The failure of this resolution means the voluntary delisting process, as proposed, cannot proceed with the requested extension.

U P Hotels Ltd has closed its trading window for all insiders, designated persons, and their immediate relatives effective July 1, 2026. The restriction will remain in effect until 48 hours after the declaration of the unaudited financial results for the quarter ending June 30, 2026. This measure is implemented to comply with the SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's internal code of conduct designed to regulate and monitor trading by insiders.

The company stated that the specific date for the Board meeting to consider the unaudited financial results for the quarter ending June 30, 2026, will be communicated in due course. The trading window closure is a standard procedural step to prevent potential insider trading during the period leading up to the financial announcement.

Key Dates and Restrictions

The following table outlines the critical timelines and the scope of the trading window closure:

The closure applies strictly to securities of U P Hotels Ltd and encompasses all designated insiders and their immediate relatives. Shareholders and market participants should note that the window will reopen only after the stipulated period following the results declaration.