Asian Hotels (North) Limited has appointed Ms. Karishma Kaur Gill as Additional Independent Non-Executive Woman Director, effective December 16, 2025. The appointment was formalized through Circular Resolution No. 11/2025-26, following recommendations from the company's Nomination and Remuneration Committee.

Appointment Details

The Board of Directors approved Ms. Gill's appointment to serve as an Additional Director in the capacity of Independent Non-Executive Woman Director. This appointment aligns with the requirements of the Companies Act, 2013 and SEBI Listing Regulations.

Professional Background

Ms. Karishma Kaur Gill brings relevant professional experience to her new role. She is a graduate with additional qualifications including a diploma in Business Analysis. Her professional background includes experience as a freelancer in corporate and social events.

Ms. Gill has accumulated four years and six months of experience as a Public Relations Manager, providing her with valuable insights into corporate communications and stakeholder management.

Regulatory Compliance

The appointment fulfills the company's regulatory obligations under various corporate governance frameworks. The company has confirmed that Ms. Gill is not related to any existing director of the company in terms of Section 2(77) of the Companies Act, 2013, ensuring her independence.

The appointment requires shareholder approval, which must be obtained within three months of the appointment date. This timeline aligns with standard corporate governance practices for director appointments.

Corporate Governance Enhancement

This appointment strengthens Asian Hotels (North) Limited's board composition by adding an independent woman director, enhancing diversity and governance standards. The addition of Ms. Gill's expertise in public relations and business analysis is expected to contribute to the company's strategic decision-making processes.

The company has notified both BSE Limited and National Stock Exchange of India Limited about this appointment under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, ensuring full transparency with stakeholders and regulatory compliance.

Asian Hotels (North) , the owner of Hotel Hyatt Regency Delhi, has reported a significant net loss of INR 5,352.72 crore for the quarter ended September 30. This marks a substantial increase from the INR 2,656.28 crore loss reported in the same period last year, highlighting the ongoing financial challenges faced by the hospitality sector.

Financial Performance

The company's financial results for Q2 reveal a complex picture:

Despite a slight increase in total income, the company's expenses remained high, resulting in a loss before exceptional items and tax of INR 1,831.70 lakhs. The recognition of exceptional items, primarily interest charges including penal interest amounting to INR 5,674.02 lakhs, significantly impacted the bottom line.

Borrowing Defaults and Equity Issue

Asian Hotels (North) has defaulted on repayments of both principal and interest on its borrowings. As of September 30, the outstanding defaults amount to:

• Principal: INR 58,997.32 lakhs
• Interest: INR 17,327.42 lakhs (including penal interest of INR 5,674.02 lakhs)

In response to these financial challenges, the company has taken a significant step. On November 8, an Extra-Ordinary General Meeting was held where shareholders approved a preferential equity issue amounting to INR 76,494.00 lakhs. The proceeds from this issue are intended to be utilized for the repayment of the outstanding borrowings.

Going Concern and Future Outlook

Despite the current financial difficulties, Asian Hotels (North) has prepared its financial results on a going concern basis. The company cites expectations of significant improvements in operating performance and the implementation of cost-reduction measures as reasons for this approach. The management's plan for repayment of borrowings through the newly approved equity issue also supports this stance.

Corporate Restructuring

The company has undergone some corporate restructuring:

1. Voluntary liquidation of foreign subsidiaries: Fineline Hospitality & Consultancy Pte Ltd, Mauritius and Lexon Hotels Venture Ltd., Mauritius.
2. Incorporation of a new subsidiary: AHNL Realty Private Limited, though control is pending due to incomplete share acquisition.

As a result of these changes, Asian Hotels (North) is not required to present consolidated financial results for the quarter ended September 30.

The hospitality sector continues to face challenges, and Asian Hotels (North)'s financial results reflect these industry-wide pressures. The company's efforts to address its debt through a new equity issue and its focus on improving operational performance will be crucial in navigating the current economic landscape.