Mr. Sunil Upadhyay, Chief Financial Officer of the Company resigned with effect from closing of business hours on 31.05.2026. Intimation is attached.
ASIANHOTNR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Asian Hotels (North) Limited, owner of Hotel Hyatt Regency Delhi, announced CFO Mr. Sunil Upadhyay resigned effective May 31, 2026. The company immediately appointed Mr. Sachin Goel (Director of Finance) as new CFO from June 01, 2026. The company reported FY2026 standalone loss of Rs 3,580 lakhs before exceptional items, with current liabilities exceeding current assets. The company had defaulted on Rs 59,326 lakhs principal and Rs 23,709 lakhs interest on borrowings, but resolved these by issuing 2.32 crore equity shares at Rs 330 per share (Rs 76,494 lakhs) and using proceeds to repay borrowings. Statutory auditors issued unmodified opinions but flagged material uncertainty about going concern. Additional appointments include Ms. Kriti Narula Sehgal as Company Secretary and reappointment of Dr. Arun Gopal Agarwal as CEO & Executive Director for one more year.
The leadership transition at CFO level is smooth as Sachin Goel was promoted from within. However, significant financial stress remains with ongoing going concern doubts and heavy debt burden despite the equity raise. Shareholders should monitor if improved operating performance materializes as management projects.