Praveg Limited has announced the resignation of Mr. Bhumit Vinodkumar Patel from his position as Non-Executive Director, effective from the closing business hours on December 31, 2025. The company disclosed this information in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Director Resignation Details

Mr. Bhumit Vinodkumar Patel, holding Director Identification Number (DIN) 02796255, submitted his resignation from the Non-Executive Director position citing preoccupancy and engagements in various professional assignments and social activities. The resignation was effective from the closing business hours on December 31, 2025.

Regulatory Compliance and Documentation

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Praveg Limited confirmed that there are no other material reasons for Mr. Patel's resignation beyond those stated in his resignation letter. The company has provided a copy of the resignation letter as part of the disclosure documentation.

Multiple Directorship Resignations

The regulatory filing revealed that Mr. Patel also resigned from his position as Whole-Time Director at Praveg Limited with effect from December 31, 2025. Additionally, he served as Director at Jhaveri Credits & Capital Limited, resigning from this position on the same date due to similar reasons of professional commitments and social activities.

Resignation Letter Details

In his resignation letter dated December 31, 2025, addressed to the Chairman and Board of Directors of Jhaveri Credits & Capital Limited, Mr. Patel expressed his appreciation for the support and cooperation extended during his tenure. He requested the Board to take note of his resignation and make necessary filings with appropriate statutory and regulatory authorities, indicating a comprehensive departure from his directorial responsibilities across multiple companies. The resignation letter confirms that there are no other material reasons for his resignation other than those stated.

Praveg Limited has announced the execution of a strategic inventory agreement with Mahindra Holidays & Resorts India Limited (MHRIL) for its upcoming premium island hospitality project, Praveg Atoll, Lakshadweep - Thinnakkara. The agreement represents a significant step in Praveg's expansion into India's exclusive island tourism segment, with the property expected to be operational shortly.

Agreement Details

The strategic partnership encompasses key commercial and operational parameters designed to enhance both companies' market presence in the luxury hospitality sector.

Strategic Rationale and Benefits

The collaboration combines Praveg's expertise in eco-responsible luxury hospitality with MHRIL's strong brand presence and extensive holiday member base. The partnership aims to offer curated, high-quality island experiences in one of India's most pristine destinations.

For Praveg Limited, the agreement strengthens market positioning through association with a reputed hospitality brand, improves demand visibility for the upcoming property, and reinforces its footprint in premium island hospitality. The partnership is expected to enhance occupancy rates and provide revenue visibility through MHRIL's established customer base.

For MHRIL, the partnership enables portfolio expansion into Lakshadweep, offering its members access to a distinctive island destination operated by a specialist in eco-responsible luxury hospitality.

Operational Framework

Upon commencement of operations, Praveg Limited will operate and manage the property, ensuring adherence to high standards of service, guest comfort, sustainability, and regulatory compliance applicable to the Lakshadweep archipelago. The detailed commercial and operational terms are governed by the inventory agreement executed between the parties.

Leadership Perspective

Dr. Vishnu Patel, Chairman of Praveg Limited, emphasized the significance of this partnership: "Lakshadweep is among India's most exclusive and environmentally sensitive tourism destinations. The inventory agreement with Mahindra Holidays & Resorts India Limited for our upcoming Praveg Atoll - Thinnakkara reflects our commitment to sustainable luxury hospitality. As the property becomes operational shortly, we are confident that this partnership will enhance guest experiences and create long-term value for both organizations."

Company Background

Praveg Limited specializes in eco-responsible luxury hospitality, with resorts located in areas of cultural and heritage significance and places of exotic natural beauty. The company's luxury resorts provide access to locations where traditional construction is not possible, allowing tourism to flourish while preserving delicate local ecosystems.

Mahindra Holidays & Resorts India Limited (MHRIL), part of the Mahindra Group, operates under the flagship brand "Club Mahindra" and offers world-class resorts at exotic destinations across India and abroad, focusing on creating memorable family holiday experiences.