Sayaji Hotels Limited , a prominent player in the hospitality sector, has announced a significant change in its key management personnel. The company has appointed Mr. Puneet Karade as its new Company Secretary and Compliance Officer, effective September 16, 2025.

New Appointment Details

Mr. Karade brings a wealth of experience to his new role at Sayaji Hotels. An Associate Member of the Institute of Company Secretaries of India (ICSI) with membership number A67853, he has over six years of experience in the field. Mr. Karade's educational background includes a Bachelor of Commerce degree, complementing his professional qualifications.

Transition in Leadership

The appointment of Mr. Karade follows the resignation of the previous Company Secretary and Compliance Officer, Mr. Ankur Bindal. Mr. Bindal tendered his resignation on July 14, 2025, citing personal reasons. His tenure concluded at the close of business hours on September 15, 2025, paving the way for a smooth transition to Mr. Karade's leadership.

Corporate Governance Implications

This change in the key managerial position is significant for Sayaji Hotels Limited, as the role of Company Secretary and Compliance Officer is crucial for maintaining corporate governance standards and ensuring regulatory compliance. Mr. Karade's appointment underscores the company's commitment to upholding these standards.

Company's Statement

In a filing to the BSE Limited, Sayaji Hotels' Managing Director, Raoof Razak Dhanani, confirmed the appointment, stating, "We hereby inform you that the appointment of Mr. Puneet Karade (Membership No.: A67853) as the Company Secretary and Compliance Officer of the Company has become effective from 16th September, 2025."

The company expressed confidence in Mr. Karade's abilities to fulfill his new responsibilities effectively, given his professional background and experience in the field of company secretarial practices.

As Sayaji Hotels Limited continues to navigate the dynamic hospitality industry, this change in its compliance leadership is expected to contribute to the company's ongoing efforts to maintain transparency and adhere to regulatory requirements in its operations.

Sayaji Hotels Limited has announced significant changes in its leadership team, including the re-appointment of two directors and the appointment of a new Company Secretary and Compliance Officer.

Board Re-appointments

At a board meeting held on August 13, the company approved the re-appointment of two key directors:

• Mrs. Isha Garg was re-appointed as Non-Executive Independent Woman Director for a second five-year term from August 27 to August 26. Mrs. Garg is a Fellow Member of the Institute of Company Secretaries of India with an MBA and extensive experience in corporate matters.

• Mrs. Suchitra Dhanani was re-appointed as Whole-Time Director for a three-year term from February 6 to February 5. Mrs. Dhanani holds a bachelor's degree in Home Science and Master's in Social Work, with experience managing guest satisfaction and training departments. She is related to Managing Director Raoof Dhanani and Director Yusuf Razak Dhanani as their sister-in-law.

New Company Secretary Appointment

The board also appointed CS Puneet Karade as the new Company Secretary and Compliance Officer, effective from September 16. Mr. Karade, an Associate Member of the Institute of Company Secretaries of India with membership number A67853, brings over six years of experience to his new role. He holds a Bachelor of Commerce degree, which complements his professional qualifications.

Leadership Transition

The appointment of Mr. Karade comes following the resignation of Mr. Ankur Bindal from the position. This change was approved in compliance with Section 203 of the Companies Act, 2013, and Regulation 6 of the SEBI Listing Regulations.

Board Meeting Highlights

The board meeting, which commenced at 12:14 P.M. IST and concluded at 12:43 P.M. IST, also addressed several other important matters:

• Review and approval of unaudited standalone and consolidated financial results for the quarter ended June 30
• Scheduling of the 42nd Annual General Meeting for September 19, to be held via video conferencing or other audio-visual means
• Approval of the Annual Report for the financial year ended March 31
• Setting August 18 as the cut-off date for determining shareholder eligibility to receive the AGM notice

Company Performance

Sayaji Hotels reported a consolidated net loss of Rs. 513.10 lakhs for the quarter ended June 30, compared to a profit of Rs. 126.64 lakhs in the same quarter of the previous year. The company's revenue from operations, however, showed growth, increasing to Rs. 3,552.97 lakhs from Rs. 2,795.84 lakhs year-over-year.

These leadership changes and appointments come at a crucial time for Sayaji Hotels as it navigates through challenging market conditions. The experience and expertise of the re-appointed directors and the new Company Secretary are expected to contribute significantly to the company's regulatory compliance, corporate governance practices, and overall performance.