Asian Hotels (North) Limited has announced the withdrawal of its credit rating 'IVR D' by Infomerics Valuation and Rating Ltd, effective February 26, 2026. The company informed BSE and NSE about this development under Regulation 30 of SEBI Listing Regulations, indicating a positive resolution of its financial obligations.

Rating Withdrawal Details

The rating agency withdrew the long-term rating at the company's request, following receipt of 'No Dues Certificate' from multiple lenders. The withdrawal became effective immediately, with the facility amount reduced from Rs. 685.05 crore to zero.

Company's Financial Resolution

According to Infomerics' press release, Asian Hotels (North) Limited has fully repaid all bank facilities that were previously rated by the agency. The company submitted the withdrawal request via email dated February 18, 2026, along with 'No Dues Certificate' from Star Strength, Ambitious Cement Private Limited, and Sammaan Capital Limited dated February 07, 2026, February 05, 2026, and February 05, 2026, respectively.

Recent Financial Performance

The company's financial metrics show improvement in recent periods:

About Asian Hotels (North) Limited

Established on November 13, 1980, Asian Hotels (North) Limited operates the iconic Hyatt Regency Delhi at Bhikaji Cama Place, New Delhi. The hotel features 507 rooms and suites, multiple conference halls, restaurants, banquet halls, a spa, salon, fitness center, and outdoor swimming pool. The company was renamed from Asian Hotels Limited on February 16, 2010, following a demerger that created three regional entities.

Regulatory Compliance

The rating withdrawal follows Infomerics' standard policy and procedures. As per the rating agency's communication, the company is advised not to use the withdrawn ratings for any future purposes. The development represents a significant milestone in the company's financial restructuring efforts and debt management strategy.

Asian Hotels (North) Limited has been penalized by BSE Limited for failing to comply with mandatory board composition requirements under SEBI regulations. The company received formal notification of the penalty on February 27, 2026, highlighting ongoing governance compliance challenges in the hospitality sector.

Penalty Details and Regulatory Action

BSE Limited imposed a fine of ₹4.48 lakh on the company for non-compliance with Regulation 17(1) of the SEBI Listing Regulations. The penalty was levied under the SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, which outlines penal actions for non-compliance.

Nature of Compliance Violation

The penalty stems from the company's failure to maintain proper board composition as mandated by SEBI regulations. Specifically, the violation involved:

• Non-compliance with board composition requirements
• Failure to appoint a woman director as required under corporate governance norms
• Extended period of non-compliance lasting 76 days

The fine amount was calculated based on the duration of the violation, with the base penalty being ₹4.48 lakh for the 76-day non-compliance period.

Company's Response and Impact Assessment

Asian Hotels (North) Limited has formally acknowledged the penalty and provided detailed disclosure to both BSE and NSE as required under Regulation 30 of the SEBI Listing Regulations. The company has assessed that the fine will not have any material impact on its financial position, operations, or other business activities.

The disclosure was made through proper regulatory channels, with the company secretary and compliance officer, Tarun Srivastava, signing the formal intimation to the stock exchanges. This demonstrates the company's commitment to maintaining transparency with stakeholders regarding regulatory matters.

Regulatory Framework and Compliance

The penalty falls under SEBI's framework for ensuring proper corporate governance standards among listed companies. Regulation 17(1) of the Listing Regulations specifically addresses board composition requirements, including the mandatory appointment of women directors to promote diversity and inclusive governance practices.

The company operates in the hospitality sector and owns the Hyatt Regency Delhi, making compliance with corporate governance standards particularly important for maintaining investor confidence and operational credibility in the competitive hotel industry.