Velan Hotels has notified BSE Limited of a forthcoming Board of Directors meeting to consider and approve its audited financial results for the quarter and year ended March 31, 2026. The intimation, dated May 15, 2026, was filed pursuant to Regulation 29(1)(a) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Meeting Details

The board meeting is scheduled to be held at the company's registered office located at 41, Kangeyam Road, Tirupur. The following table summarises the key details of the scheduled meeting:

Insider Trading Compliance

In accordance with the company's Code of Conduct to regulate, monitor, and report trading by insiders — adopted pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 — Velan Hotels has already communicated to BSE Limited the closure of the Trading Window ahead of the board meeting.

The intimation was signed by Garima Maheshwari, Company Secretary and Compliance Officer of Velan Hotels, on May 15, 2026.

Velan Hotels Limited has signed an addendum to its asset sale agreement with J.P.Associates Asia Pacific Private Ltd, extending the completion timeline for a significant hotel property transaction. The company disclosed this development under Regulation 30 of SEBI regulations on May 01, 2026.

Transaction Details and Payment Structure

The total sale consideration for the hotel property located in Tirupur, Tamil Nadu amounts to Rs.37,17,14,968. The transaction structure demonstrates substantial progress in execution:

The buyer has already remitted Rs.35.12 crore as advance payment, excluding applicable Tax Deducted at Source (TDS). The remaining balance will be settled on the registration date, with TDS deduction handled during the sale deed registration process.

Timeline Extension and Completion Schedule

The addendum modifies the original completion timeline due to the buyer's financing arrangements. The key dates have been restructured as follows:

J.P.Associates Asia Pacific Private Ltd requested additional time to complete their financing arrangements for the property acquisition, leading to the timeline extension through the addendum agreement.

Debt Settlement and Financial Impact

A significant portion of the advance payment was utilized to settle the company's obligations with RARE Asset Reconstruction Ltd through a One-Time Settlement (OTS) arrangement. RARE ARC issued a No-Due Certificate dated April 30, 2026, confirming the settlement of all company dues.

This debt settlement has transformed Velan Hotels' financial position:

• All mortgaged properties have become free-hold properties
• The company achieved secured debt-free status
• Only unsecured loans from promoter-directors and associate companies remain

Buyer Profile and Transaction Compliance

J.P.Associates Asia Pacific Private Ltd, based in Coimbatore, Tamil Nadu, serves as the prospective purchaser. The company confirmed that this buyer does not belong to the promoter, promoter group, or group companies, ensuring the transaction remains at arm's length.

The sale does not qualify as a related party transaction and falls outside any scheme of arrangement. Velan Hotels obtained necessary shareholder approval through a special resolution passed via postal ballot and remote e-voting process, completed on February 19, 2026, ensuring compliance with Companies Act 2013 and SEBI-LODR Regulations.

Property Performance Context

The hotel properties being sold have not generated any turnover, revenue, or income since March 2020, indicating the strategic nature of this divestment decision. The transaction represents a significant step in the company's asset optimization and debt management strategy.