Asian hotels (north) Limited has announced the resignation of a key senior management personnel, marking a significant change in its leadership structure. The company informed stock exchanges about this development through a formal regulatory filing on February 07, 2026.

Senior Management Personnel Resignation

Mr. Vipin Vasudeva, who served as Vice President - Projects and was designated as Senior Management Personnel (SMP), resigned from his position effective from the closing of business hours on January 21, 2026. The resignation was attributed to personal reasons, specifically health-related concerns that require immediate attention.

Resignation Details and Timeline

According to the resignation letter dated December 10, 2025, Mr. Vasudeva cited critical health issues as the primary reason for his departure. The letter revealed that doctors had advised him to address these health concerns, and family considerations necessitated his relocation to facilitate necessary medical care. He had initially requested relief by January 10, 2026, but the actual cessation occurred on January 21, 2026.

Mr. Vasudeva expressed gratitude for the professional and personal development opportunities provided by the company during his 16-year tenure. In his resignation letter, he acknowledged the relationships built during his service and offered assistance in ensuring a smooth transition of his responsibilities.

Regulatory Compliance

The company has fulfilled its regulatory obligations by filing the necessary disclosures under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was sent to both BSE Limited and National Stock Exchange of India Limited, along with the required annexures including detailed disclosures and a copy of the resignation letter.

The resignation represents a notable change in the senior management structure of Asian Hotels (North) Limited, particularly given Mr. Vasudeva's long association with the company and his role in project management activities.

Asian Hotels (North) Limited has successfully cleared all outstanding loan defaults with its lenders after completing a substantial preferential equity issue. The company announced on February 07, 2026, that it has resolved defaults with three key lenders using proceeds from its recent fundraising initiative.

Preferential Equity Issue Details

The company completed the allotment of equity shares following in-principle approval from stock exchanges. The fundraising exercise involved issuing new equity to institutional investors on a preferential basis.

Loan Default Resolution

The company had previously reported defaults on payment of interest and repayment of principal amounts through intimations dated August 13, 2025, August 14, 2025, and September 27, 2025. The defaults involved three specific lenders who had outstanding dues from the hospitality company.

Lenders with Cleared Defaults:

• Star Strength
• Ambitious Cement Private Limited
• J.C. Flowers Asset Reconstruction Private Limited (assigned from Sammaan Capital Limited)

Asian Hotels confirmed that the entire proceeds from the preferential issue were utilized exclusively for repayment of borrowings, as previously committed by the company management.

Financial Restructuring Impact

The successful clearance of all overdue amounts has resulted in complete regularization of the company's accounts with the affected lenders. This development marks the full resolution of defaults that had been outstanding since mid-2025, providing the company with a clean slate regarding its borrowing obligations.

The company has formally notified both BSE Limited and National Stock Exchange of India about the completion of this financial restructuring exercise. Asian Hotels trades on BSE under scrip code 500023 and on NSE under the symbol ASIANHOTNR.

Corporate Governance

The announcement was made by Company Secretary and Compliance Officer Tarun Srivastava, ensuring proper regulatory disclosure under applicable listing regulations. The company maintains its registered office at Bhikaji Cama Place, New Delhi, and operates Hyatt Regency Delhi as part of its hospitality portfolio.