Sayaji Hotels (Indore) Limited has announced a postal ballot for shareholders to vote on three key resolutions, signaling significant changes in the company's governance structure and board composition. The e-voting period is set to run from September 16 to October 16, 2025.

Amendments to Articles of Association

The first resolution seeks approval for amendments to the company's Articles of Association (AOA). These changes aim to align the AOA with a shareholders' agreement between existing and incoming promoters, following a recent change in the company's shareholding structure.

Key amendments include:

• Introduction of new definitions for "Existing Promoters" and "Incoming Promoters"
• Modifications to share transfer restrictions
• Changes in board composition and nomination rights
• Introduction of right of first offer, tag-along, and drag-along rights
• Establishment of a list of reserved matters requiring mutual consent

The proposed changes establish equal board representation rights for existing and incoming promoters, with each group entitled to nominate two directors.

Appointment of New Directors

The second and third resolutions propose the appointment of Mr. Karan Singh Chhabra and Mrs. Riya Chhabra as Non-Executive Non-Independent Directors. Both appointments are part of the incoming promoters' nomination rights following the completion of an open offer.

Mr. Karan Singh Chhabra

• Age: 32
• Experience: Over 10 years in real estate, rental business, and mall management
• Current role: Managing three malls in Indore
• Additional expertise: Hotel management

Mrs. Riya Chhabra

• Age: 36
• Experience: More than 12 years in the real estate sector
• Focus: Operations and management of commercial properties, including malls and hotels

Voting Process

• Voting method: Electronic
• Start date: September 16, 2025, at 9:00 AM IST
• End date: October 16, 2025, at 5:00 PM IST
• Results announcement: Within seven days from the last day of voting

These proposed changes reflect a significant shift in Sayaji Hotels (Indore) Limited's corporate structure and governance, potentially impacting the company's future direction and decision-making processes.

Sayaji Hotels (Indore) Limited , a prominent player in the hospitality sector, has announced a significant change in its leadership team. The company's Board of Directors, in a meeting held on August 12, 2025, approved the appointment of Mr. Aaditya Kasera as the new Company Secretary and Compliance Officer, effective immediately.

New Appointment Details

Mr. Aaditya Kasera, an Associate Member of the Institute of Company Secretaries of India (ICSI) with membership number A76172, brings a wealth of experience to his new role. Kasera holds a B.Com LL.B. degree and has a strong background in corporate governance, securities laws, and listing compliances. His professional journey includes valuable experience with merchant banking and listed entities, where he handled public issues, open offers, and SEBI-related compliances.

Transition in Leadership

Kasera's appointment comes following the resignation of Mr. Arpit Agrawal, who stepped down from the position on June 20, 2025. This transition marks a new chapter for Sayaji Hotels (Indore) Limited's corporate governance structure.

Board Meeting Highlights

The Board meeting, which commenced at 3:12 PM and concluded at 3:45 PM IST, also addressed several other important matters:

1. Review and approval of unaudited financial results for the quarter ended June 30, 2025
2. Approval of the notice for the 7th Annual General Meeting, scheduled for September 17, 2025, to be held via video conferencing or other audio-visual means
3. Approval of the Annual Report for the financial year ended March 31, 2025
4. Setting August 18, 2025, as the cut-off date for determining shareholder eligibility to receive the AGM notice
5. Appointment of a scrutinizer for e-voting at the Annual General Meeting

Financial Performance Overview

While the primary focus of the meeting was on governance matters, the Board also reviewed the company's financial performance. For the quarter ended June 30, 2025, Sayaji Hotels (Indore) Limited reported:

The company's performance shows resilience in the hospitality sector, with a slight increase in total income compared to the same quarter in the previous year.

Looking Ahead

With the appointment of Mr. Aaditya Kasera, Sayaji Hotels (Indore) Limited aims to strengthen its compliance and governance framework. As the company prepares for its upcoming Annual General Meeting, stakeholders will be keen to see how these changes impact the company's future strategies and performance in the competitive hospitality industry.