Asian Hotels (North) Limited has informed the Exchange regarding re-appointment of Dr. Arun Gopal Agarwal as Whole Time Director designated as CEO & Executive Director of the company w.e.f. July 30, 2026 for a period of one year.
ASIANHOTNR · price
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Asian Hotels (North) reported FY2026 standalone net loss of Rs 10,224.95 lakhs despite revenue from operations of Rs 38,208.11 lakhs. The company had defaulted on borrowings aggregating Rs 59,326.46 lakhs (principal) and Rs 23,709.15 lakhs (interest including penal interest), but has since issued 2.32 crore equity shares at Rs 330/share to raise Rs 76,494 lakhs and fully repaid the defaulted borrowings. The auditors flagged material uncertainty about the company's ability to continue as a going concern as current liabilities exceeded current assets. The Board also approved resignation of CFO Mr. Sunil Upadhyay (effective May 31, 2026) and appointment of Mr. Sachin Goel (Director of Finance) as new CFO (effective June 1, 2026), along with appointment of Ms. Kriti Narula Sehgal as Company Secretary & Compliance Officer.
The equity raise and debt repayment resolve the immediate default crisis, but the going concern warning and ongoing losses signal continued financial stress. The internal CFO appointment provides continuity while leadership transition occurs. The CEO re-appointment secures Dr. Arun Gopal Agarwal's leadership for another year.