Sayaji hotels Limited has announced entering into a comprehensive lease agreement with The Vajrapani (proprietorship firm) and Mrs. Karma Chimie Bhutia for hotel management and operations. The company disclosed this development under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Agreement Structure and Parties

The lease agreement involves two primary parties alongside Sayaji Hotels Limited. The Vajrapani serves as the proprietorship firm (First Party), while Mrs. Karma Chimie Bhutia acts as the confirming party in this arrangement. The agreement positions Sayaji Hotels Limited as the managing and operating entity for the hotel property.

Contract Duration and Terms

The substantial duration of 14 years and 11 months demonstrates a long-term commitment between the parties, providing operational stability for the hotel management venture.

Property Specifications and Brand Strategy

The hotel property encompasses comprehensive hospitality facilities designed to serve diverse customer segments. The facility includes 32 rooms for accommodation, 1 banquet hall for events and functions, and 1 restaurant for dining services.

Brand Portfolio Integration

Sayaji Hotels Limited will operate the property under one of two established brand names from its portfolio. The hotel will function under either "Effotel by Sayaji" or "Enrise By Sayaji" branding, allowing the company to align the property with appropriate market positioning and operational standards.

Regulatory Compliance and Disclosure

The company has confirmed that this transaction does not constitute a related party transaction, ensuring arm's length dealing requirements are not applicable. The agreement complies with all requisite disclosure norms under Schedule III of SEBI regulations, with no additional disclosures required beyond the standard regulatory framework.

Sayaji Hotels Limited has announced key leadership changes in its board of directors, marking a significant transition in the company's governance structure. The changes, which came into effect on January 23, 2026, were communicated to BSE Limited under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Leadership Transition Details

The primary change involves the completion of Mr. Abhay Chintaman Chaudhari's tenure as Non-Executive Independent Director and Chairman. Mr. Chaudhari, who holds DIN 06726836, concluded his second consecutive term as Independent Director and stepped down from his position as Chairman with effect from the close of business hours on January 22, 2026.

New Chairman Appointment

Following Mr. Chaudhari's departure, Mr. Nimeshkumar Gandhi has been appointed as the new Chairman of the Board and the Company. Mr. Gandhi, who holds DIN 10516536 and was already serving as a Non-Executive Independent Director, assumed his new role effective January 23, 2026.

Board Committee Reconstitution

Consequent to the changes in board composition, Sayaji Hotels has approved the reconstitution of several board committees with effect from January 23, 2026. The revised committee structures reflect the new leadership hierarchy and ensure continued governance oversight.

Audit Committee Composition

Stakeholders Relationship Committee

The Stakeholders Relationship Committee maintains the same composition as the Audit Committee, with Mr. Nimeshkumar Gandhi serving as Chairman and the same three members: Mrs. Suchitra Dhanani, Mr. Saquib Salim Agboatwala, and Mrs. Isha Garg.

Nomination and Remuneration Committee

Regulatory Compliance

The company has fulfilled all regulatory requirements under SEBI regulations, providing detailed annexures with the necessary information about the directorial changes and committee reconstitution. The notification was signed by Puneet Karade, Company Secretary and Compliance Officer, ensuring proper documentation and compliance with listing obligations.

These changes represent a planned transition in line with corporate governance norms, particularly regarding the tenure limits for independent directors. The reconstituted committees are designed to maintain effective oversight and governance as the company continues its operations in the hospitality sector.