Royal Orchid Hotels Limited has informed the Exchange regarding voting results of Postal Ballot
ROHLTD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Royal Orchid Hotels Limited has disclosed voting results from a Postal Ballot conducted on May 3, 2026. Two resolutions were passed: (1) Change in designation of Mr. Keshav Baljee from Non-Executive Director to Whole-Time Director (Executive Director) - a Special resolution; (2) Increase in remuneration of Mr. Arjun Baljee, President of the Company - an Ordinary resolution. Both resolutions involved related party transactions where promoter group was interested. Promoter group voted 100% in favor on both resolutions. Institutional investors (FIIs/Mutual Funds) voted heavily against both resolutions with ~96% votes against. Both resolutions passed with approximately 93.7% majority approval out of 68.5% voter turnout.
Both resolutions passed despite strong opposition from institutional investors, indicating promoter group control. The designation change strengthens executive management while the remuneration increase for the President's position may impact future profitability and could face continued scrutiny from institutional shareholders.