Juniper Hotels Limited has addressed regulatory non-compliance issues by paying a fine of ₹2.65 lakh and appointing a new independent director to strengthen its board composition.

Regulatory Fine and Non-Compliance Details

The company received notices from both National Stock Exchange of India Limited (NSE) and BSE Limited on November 28, 2025, regarding the levy of a fine amounting to ₹2.65 lakh (including GST). The penalty was imposed for non-compliance with Regulation 17 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which pertains to the composition of the Board of Directors.

Board Response and Corrective Measures

The Board of Directors conducted thorough analysis and deliberations regarding the compliance delay. The board emphasized that the company maintains a mix of experienced Executive and Non-Executive Directors, with higher representation of Non-Executive Directors. The company benefits from guidance, expertise, and strategic oversight of its diversified board in managing its hospitality business operations.

Following a selection process, the company appointed Mr. Mayur Chokshi (DIN: 01238535) as Additional Non-Executive Independent Director effective December 18, 2025. The board noted that the company made efforts to identify and appoint suitable candidates possessing requisite industry knowledge, business acumen, and leadership experience relevant to the hospitality sector.

Corporate Governance Commitment

The board has reiterated its commitment to maintaining high standards of corporate governance. Key governance measures include:

• Implementation of processes and controls to prevent recurrence of non-compliance instances
• Emphasis on adherence to prescribed timelines and compliance requirements
• Focus on regulatory timeline adherence
• Strengthened oversight mechanisms for future compliance

The company has paid the fine levied by NSE and BSE within the prescribed timeline. The board has advised management to take necessary steps to avoid such instances of non-compliance in the future, emphasizing the importance of maintaining regulatory compliance in the hospitality business environment.

Juniper Hotels Limited announced the appointment of Mr. Mayur Chokshi as an Additional Non-Executive Independent Director during a board meeting held on December 18, 2025. The appointment was approved based on the recommendation of the Nomination and Remuneration Committee and is subject to shareholder approval.

Appointment Details

The board meeting, which commenced at 10:15 a.m. and concluded at 10:55 a.m., formalized Mr. Chokshi's appointment for a first term of two consecutive years. The company has filed the requisite disclosures with both NSE and BSE under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Updated Board Composition

Following Mr. Chokshi's appointment, the board composition of Juniper Hotels Limited has been revised. The company now has eight directors across various categories:

Professional Background

Mr. Mayur Chokshi brings extensive experience to the Juniper Hotels board as a senior Chartered Accountant and Fellow Member of the Institute of Chartered Accountants of India (FCA). He also holds DISA (ICAI) certification and possesses over four decades of post-qualification experience in corporate advisory, financial reporting, internal controls, risk management, and corporate governance.

As the Founder of Mayur Chokshi & Co., a Mumbai-based chartered accountancy firm, he has served diversified corporate clients across multiple sectors including insurance, non-banking financial companies (NBFCs), information technology and IT-enabled services (IT/ITES), fast-moving consumer goods (FMCG), pharmaceuticals, hospitality, and telecommunications.

Expertise and Qualifications

Mr. Chokshi's professional expertise spans several critical areas of corporate governance and financial management. He has served as an Independent Director on the boards of both listed and unlisted companies, bringing specialized knowledge in IndAS/IFRS, audit committee functions, enterprise risk management, regulatory compliance, internal control systems, and business structuring.

His commitment to staying current with technological developments is demonstrated through his advanced training in digital transformation and artificial intelligence governance, including completion of a certified course on Fundamentals of Artificial Intelligence from IIT Bombay. Additionally, Mr. Chokshi has conducted over one thousand professional workshops and seminars in India and overseas and has authored and contributed to several ICAI and WIRC publications on IFRS and IndAS.

Regulatory Compliance

The company has confirmed that Mr. Chokshi is not debarred from accessing capital markets and is not restrained from holding the office of director by virtue of SEBI orders or orders of any other competent authorities. The appointment complies with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Mr. Chokshi is not related to any existing director of the company.

This appointment reflects Juniper Hotels Limited's commitment to strengthening its board with experienced professionals who can contribute to the company's governance and strategic direction in the hospitality sector.