Chalet Hotels Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 08, 2025
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Chalet Hotels has called its 40th AGM on August 8, 2025 at 4:00 PM via video conferencing, with the remote e-voting window open from August 5-7, 2025 (cut-off date August 1, 2025). Shareholders will vote on ordinary items including adoption of FY25 audited financial statements and re-appointment of MD & CEO Dr. Sanjay Sethi (whose current term ends January 31, 2026). Special business includes ratifying Cost Auditor remuneration of Rs.1.5 lakh for FY26, appointing Mr. Manish Chokhani (ex-Enam Securities/Axis Capital) as Independent Director for five years, appointing KDA & Associates as Secretarial Auditor for FY26-FY30, and most notably, approving a special resolution to raise up to Rs.1,000 crore through debt securities (NCDs/Commercial Paper) on a private placement basis within the company's existing borrowing limit of Rs.5,000 crore. The company's total debt stood at Rs.2,135.34 crore as of March 31, 2025.
The AGM is routine, but the Rs.1,000 crore debt-raising proposal is the most material item — if approved, it gives the board headroom to fund expansion, refinance high-cost debt, or meet working capital needs over the next year. Adding a high-profile Independent Director like Manish Chokhani (known capital markets expert) is a positive governance signal. Shareholders should review and vote during the August 5-7 e-voting window.