Outcome of Postal Ballot
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Sayaji Hotels (Indore) Ltd concluded its Postal Ballot on 16th October 2025, with all three resolutions passed. Resolution 1 was a Special Resolution to amend the Articles of Association, which received 100% approval with 16,71,583 votes in favour out of 16,71,583 polled (54.87% of total shares). Resolutions 2 and 3 were Ordinary Resolutions for appointing Mr. Karan Singh Chhabra and Mrs. Riya Chhabra as Non-Executive Non-Independent Directors respectively. On these director appointments, the promoter group (holding 24,57,085 shares) was barred from voting due to being interested parties, with their 14,06,000 votes declared invalid. Only public shareholders participated, with 2,65,583 votes cast in favour (100%) for each appointment. The Postal Ballot covered 2,715 shareholders on the record date of 10th September 2025. The scrutinizer, Mr. Neelesh Gupta, confirmed all resolutions were passed with the requisite majority.
The amendments to the Articles of Association give the company greater flexibility in governance matters, though the specific changes are not detailed. The appointment of two Chhabra family members as directors signals potential family succession or expansion at the board level, which shareholders should monitor for related-party implications. Despite the appointments being approved with 100% support, the public turnout was relatively thin, reflecting the limited public float in the company.