AGM Details
The 45th Annual General Meeting of Asian Hotels (North) Limited is scheduled to be held on Tuesday, September 29, 2026 at 11:30 a.m. through Video Conference/Other Audio Visual Means. The deemed venue is the Registered Office of the Company at Bhikaji Cama Place, M. G. Marg, New Delhi – 110066.
Business Items to be Transacted
Ordinary Business:
1. To consider and adopt the audited standalone and consolidated financial statements for the financial year ended March 31, 2026, together with reports of board of directors and auditors.
2. To appoint Mr. Krishna Kumar Acharya (DIN: 08933298) who retires by rotation and has offered himself for re-appointment.
Special Business:
3. Re-appointment of Dr. Arun Gopal Agarwal (DIN: 00374421) as Whole Time Director designated as CEO & Executive Director for one year from July 30, 2026 to July 29, 2027 with annualized remuneration of ₹25,00,008 (Rupees Twenty-Five Lakhs and Eight only), with maximum limit of ₹35,00,000 per annum.
4. Re-appointment of Mr. Krishna Kumar Acharya (DIN: 08933298) as Whole Time Director designated as Executive Director for two years from August 12, 2026 to August 11, 2028 with annualized remuneration of ₹48,00,000 (Rupees Forty-Eight Lakhs only), with maximum limit of ₹60,00,000 per annum.
Financial Context and Default Disclosure
The disclosure reveals that during FY 2025-26, the Company defaulted in payment of dues to three lenders:
- Star Strength (Debt assigned by DBS Bank)
- Ambitious Cement Private Limited
- J.C. Flowers Asset Reconstruction Private Limited (assigned from Sammaan Capital Limited)
The Company rectified these defaults by making repayments in February 2026 through funds raised by issuing 2,31,80,000 (Two Crore Thirty-One Lakhs Eighty Thousand) equity shares on a preferential basis aggregating ₹764,94,00,000 (Rupees Seven Hundred Sixty-Four Crore and Ninety-Four Lakhs Only).
Financial Performance Comparison
| Particulars | FY 2025-26 | FY 2024-25 |
| Total Revenue | ₹34,925.30 lakhs | ₹32,068.21 lakhs |
| Profit/(Loss) Before Tax | (₹14,176.13 lakhs) | ₹23,203.34 lakhs |
| Net Profit/(Loss) After Tax | (₹10,224.96 lakhs) | ₹18,725.96 lakhs |
| EPS | (₹44.05) | ₹96.26 |
Director Remuneration Details
Dr. Arun Gopal Agarwal:
- Approved remuneration: ₹25,00,008 per annum (maximum ₹35,00,000)
- Actual paid during FY 2025-26: ₹2.64 lakhs (due to loan default constraints)
- Benefits include medical insurance, personal accident insurance, ex-gratia (20% of basic if declared), LTA (one month's basic), duty meals, laundry, telephone reimbursement, and fitness center access
Mr. Krishna Kumar Acharya:
- Approved remuneration: ₹48,00,000 per annum (maximum ₹60,00,000)
- Actual paid during FY 2025-26: ₹5.76 lakhs (due to loan default constraints)
- Benefits package identical to Dr. Agarwal
Shareholding Pattern (as on March 31, 2026)
- Non-Resident Indians (NRI): 1,06,32,637 shares (24.94%)
- Foreign Portfolio Investors: 10,98,488 shares (2.58%)
- Foreign Companies: 2,31,80,000 shares (54.37%)
Key Dates
- Cut-off date for remote e-voting: Tuesday, September 22, 2026
- Remote e-voting period: Saturday, September 26, 2026 at 9:00 a.m. to Monday, September 28, 2026 at 5:00 p.m.
- Register of Members closure: Wednesday, September 23, 2026 to Tuesday, September 29, 2026 (both days inclusive)
Voting Arrangements
The company has appointed Mr. Rupesh Agarwal (or failing him Mr. Shashikant Tiwari) of M/s. Chandrasekaran Associates as Scrutinizer. KFin Technologies Limited is providing e-voting facilities. Physical attendance at AGM is dispensed with; only VC/OAVM participation is permitted.
Additional Information
The explanatory statement provides detailed background on both directors, their qualifications, experience, and justification for their reappointment. The company attributes its losses to previous years' accumulated losses, debt burden, interest obligations, and foreign exchange fluctuations. Steps for improvement include operational cost control and debt reduction through the preferential issue.