Asian Hotels (North) Limited, a prominent player in the hospitality sector, recently held an Extraordinary General Meeting (EGM) that saw the passage of two significant resolutions. The meeting, conducted through video conferencing on November 8, 2025, marked important decisions for the company's future.

Key Resolutions Passed

The EGM, which commenced at 11:30 AM and concluded at 12:11 PM, saw robust participation from shareholders. Two resolutions were put to vote:

1. Increase in Authorized Share Capital: An ordinary resolution to increase the authorized share capital and amend the capital clause of the memorandum of association.
2. Issuance of Equity Shares: A special resolution for the issuance of equity shares on a preferential basis.

Both resolutions received overwhelming support from the shareholders, with over 99% votes cast in favor.

Shareholder Participation and Voting Results

The meeting witnessed significant engagement from public shareholders:

The voting results for the resolutions were as follows:

Corporate Governance and Compliance

The EGM was conducted in compliance with the applicable provisions of the Companies Act, 2013, and relevant circulars issued by the Ministry of Corporate Affairs (MCA) and the Securities and Exchange Board of India (SEBI). The company ensured transparency by appointing M/s. Chandrasekaran Associates as the scrutinizer for the e-voting process.

Management Presence

The meeting was attended by key management personnel, including:

• Mr. Arjun Raghavendra Murlidharan (Chairman & Independent Director)
• Dr. Arun Gopal Agarwal (CEO & Executive Director)
• Mr. Krishna Kumar Acharya (Executive Director)
• Dr. Sharad Sharma (Whole Time Director)
• Other independent directors and key executives

Implications for Investors

The passage of these resolutions signals potential strategic moves by Asian Hotels (North) Limited. The increase in authorized share capital could pave the way for future fundraising activities, while the approval for issuing equity shares on a preferential basis might indicate plans for targeted capital infusion or strategic partnerships.

Investors and market watchers may keep a close eye on how the company utilizes these newly granted authorizations to drive growth and enhance shareholder value in the competitive hospitality sector.

Asian Hotels (North) Limited may provide further announcements detailing the specifics of the share capital increase and the terms of the preferential share issuance in the coming weeks.

Asian Hotels (North) Limited has disclosed an amendment to the fair value assessment for its ongoing preferential issue, as part of regulatory compliance under SEBI Listing Regulations. The company announced on December 15, 2025, that the fair value per share has been revised upward while maintaining the original issue price for the Rs 764.94 crore investment from Elana Holdings Pte. Ltd., Singapore.

Fair Value Revision Details

The independent registered valuer, M/s GAA Advisory LLP, has updated the fair value assessment for the preferential issue:

Investment Structure Remains Unchanged

Despite the fair value revision, the core terms of the investment agreement with Elana Holdings remain intact:

Regulatory Compliance and Documentation

The fair value revision has been made in compliance with Regulation 166A(1) of SEBI ICDR Regulations, 2018. The updated valuation report is now available on the company's website at the dedicated preferential issue section. This disclosure follows the original EGM notice dated October 14, 2025, and the subsequent corrigendum dated October 31, 2025.

Capital Structure and Approval Status

The preferential issue remains subject to shareholder approval, with the company having scheduled an Extraordinary General Meeting for November 8, 2025. The proposed increase in authorized share capital from Rs 70.00 crore to Rs 75.00 crore, along with the expansion of equity shares from 4,00,00,000 to 4,50,00,000, continues as planned.

Strategic Implications

The upward revision in fair value, while maintaining the issue price, indicates that the preferential issue terms remain favorable for the company. The investment is specifically earmarked for addressing outstanding loans and defaulted interest, positioning Asian Hotels (North) Limited for improved financial health. Elana Holdings will participate as a financial investor without control rights or board representation, ensuring the company maintains operational independence while securing necessary capital for debt restructuring.