Chalet Hotels Limited has informed the Exchange regarding Notice of Postal Ballot
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Chalet Hotels has issued a Postal Ballot notice seeking shareholder approval through e-voting for three special resolutions. The first is the appointment of Mr. Shwetank Singh (currently Executive Director) as Managing Director and CEO for three years from February 1, 2026 to January 31, 2029, with a proposed annual remuneration of Rs. 3.5 crore salary plus up to Rs. 1.2 crore performance bonus (total Rs. 4.7 crore, with a ceiling of Rs. 8 crore), along with 3,03,738 ESOPs granted under the CHL ESOP Plan 2023. The second resolution appoints the outgoing MD & CEO, Dr. Sanjay Sethi (term ending January 31, 2026), as a Non-Independent Non-Executive Director from February 1, 2026, ensuring board continuity. The third resolution seeks approval to pay commission to Non-Executive Directors for three years starting FY 2025-26. E-voting runs from January 1, 2026 (9:00 AM) to January 30, 2026 (5:00 PM), with results to be announced by February 3, 2026. The cut-off date is December 26, 2025. KFin Technologies is the e-voting facilitator.
This is a procedural corporate governance filing requiring shareholder approval. The key takeaway is the leadership transition — Shwetank Singh, who has driven recent growth initiatives, will take over as MD & CEO, while the current chief moves to a non-executive board role. Investors should review the proposed MD remuneration package and ESOP grant, though no immediate material financial impact on the company is expected.