Sayaji Hotels Limited has entered into a new Hotel Management Agreement with Vicon Imperial (I) Private Limited for the Raipur property, marking a strategic transition from the previously terminated lease arrangement. The new agreement, effective from April 1, 2026, ensures continued operations at the significant revenue-contributing property in Chhattisgarh.

New Management Agreement Structure

The Hotel Management Agreement establishes Sayaji Hotels Limited as the operator and manager of the star-rated hotel owned by Vicon Imperial (I) Private Limited. Under this arrangement, the company will manage and operate the property while maintaining the "Sayaji" brand standards and operational excellence.

Property Specifications and Facilities

The Raipur property, located at Labhandi, Behind Magneto Mall, Raipur, Chhattisgarh, represents a comprehensive hospitality offering. The hotel features extensive accommodation and recreational facilities designed to serve diverse guest requirements.

Transition from Previous Arrangement

This management agreement represents a continuation of operations following the termination of the previous lease arrangement. The original lease agreement, executed on March 22, 2017, and amended on October 23, 2018, was terminated effective March 31, 2026, after serving for 15 years and 3 months. The property's significant contribution to company performance, representing 26.08% of total turnover and 19.84% of total EBITDA, underscores the strategic importance of maintaining operations through this new structure.

Related Party Transaction Disclosure

The agreement constitutes a related party transaction, as a relative of Mr. Raoof Razak Dhanani serves as a Director in Vicon Imperial (I) Private Limited. The company has disclosed this relationship in compliance with regulatory requirements, ensuring transparency in the transaction structure.

Regulatory Compliance and Documentation

The agreement disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company filed the requisite documentation on March 9, 2026, with detailed specifications provided in Schedule-III format, ensuring full compliance with stock exchange notification requirements.

Sayaji Hotels Limited has issued a postal ballot notice dated February 26, 2026, under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice seeks shareholder approval for the appointment of Mr. Kayum Razak Dhanani as a Non-Executive Non-Independent Director through remote e-voting.

Postal Ballot Timeline and Process

The company has established a comprehensive timeline for the postal ballot process, with all communications being conducted electronically in compliance with Ministry of Corporate Affairs General Circulars.

The e-voting facility is available at www.evotingindia.com , provided by Central Depository Services (India) Limited (CDSL). Members whose names appear in the Register of Members or List of Beneficial Owners as of the cut-off date are eligible to participate in the voting process.

Director Appointment Details

The postal ballot seeks approval for appointing Mr. Kayum Razak Dhanani (DIN: 00987597) as a Non-Executive Non-Independent Director. The Board of Directors appointed him as an Additional Director on February 10, 2026, subject to shareholder approval through this postal ballot.

Professional Background and Experience

Mr. Dhanani brings substantial industry experience to the board, with over 20 years in leather goods manufacturing, processing, and marketing. He holds a Diploma in Sole-Making from the Central Leather Research Institute, Chennai.

His professional associations include:

• Sara Suole Private Limited (since 2005): Manufacturing and processing of leather soles and footwear components for domestic and international markets
• United Foodbrands Limited (since 2012): Food processing sector operations, focusing on manufacture and marketing of packaged food products

Shareholding and Directorships

Mr. Dhanani holds significant shareholdings across multiple group companies and serves on various boards:

He currently serves as a director in multiple companies including Blue Planet Foods Private Limited, Sara Suole Private Limited, Ruosh Retail Private Limited, and United Foodbrands Limited, among others.

Scrutinizer and Voting Process

The company has appointed Mr. Neelesh Gupta, Practicing Company Secretary (Membership No. FCS: 6381 and CP: 6846), as the scrutinizer for conducting the postal ballot process. The scrutinizer will submit his report within 2 days from the last day of voting, and results will be announced on the company's website and communicated to BSE Limited.

Shareholders can access the complete postal ballot notice and explanatory statement on the company's website at www.sayajihotels.com . The resolution, if approved by the requisite majority, will be deemed passed on April 6, 2026, the last date of e-voting.