Intimation of Postal Ballot Notice
GRAVISSHO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Graviss Hospitality has sent a Postal Ballot Notice to shareholders seeking approval through remote e-voting (June 5 to July 4, 2026) on two matters. The first resolution seeks re-appointment of Mr. Romil Ratra (DIN: 06948396) as Whole-Time Director, designated as CEO & Whole-Time Director, for five years effective March 1, 2026; remuneration is approved only for three years due to inadequate profits under Schedule V of the Companies Act. The second resolution seeks approval for the expansion of The Mansion House (TMH) at Alibaug by adding up to 100 rooms and a related party transaction involving the sale of agricultural land (Gat No. 342, 2,760 sq.m.) in Sasawane, Alibaug from the company's wholly-owned subsidiary Graviss Hotels and Resorts Limited (GHRL) to Hotel Kanakeshwar LLP (HKLLP), an entity owned by promoter Mr. Gaurav Ghai, for INR 1.80 crore, which is above both the book value (INR 1.77 crore) and the fair market value (INR 1.16 crore) assessed by an independent valuer. The expansion is required to qualify for incentives under the Maharashtra Tourism Policy 2024 and would be combined with an adjacent land parcel (Gat No. 341) owned by HKLLP.
For shareholders, this is largely a housekeeping exercise: continuity of an existing CEO who has overseen revenue growth from about INR 39 crores to INR 62 crores since joining in FY2021, plus a strategic expansion of the Alibaug property that could improve long-term room inventory and profitability. The related-party land sale price being set above fair market value is a positive for minority shareholders on that specific deal, but promoter-linked related party transactions typically warrant close scrutiny by investors.