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) 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.