Meeting Details
This is a postal ballot process, not a physical meeting. The remote e-voting period commences on Thursday, October 22, 2026, at 9:00 A.M. IST and ends on Friday, November 20, 2026, at 5:00 P.M. IST.
Proposed Resolution and Implications
The single special resolution seeks approval for the sale, transfer, assignment, and/or conveyance of Hotel Novotel Imagicaa to Juniper Hotels Limited (CIN: L55101MH1985PLC152863) on a slump sale basis for a lumpsum consideration of ₹248 Crore (Rupees Two Hundred Forty Eight Crore only). The transaction involves the sale of the hotel as a going concern, including approximately 11 acres of land and structures in Sangdewadi, Khopoli, Maharashtra. The object and commercial rationale for the sale are to bolster the company's long-term capital requirements for geographical expansion of its park business, adding attractions in existing locations, aiding its indoor entertainment foray, and keeping overall debt lower.
Voting Process and Methods
The voting will be conducted exclusively through a remote e-voting system provided by National Securities Depository Limited (NSDL). There will be no dispatch of physical copies of the notice or ballot forms. The cut-off date for determining member eligibility is Friday, October 16, 2026. Members whose email IDs are registered with the company/RTA/depositories as of this date will receive the notice electronically and are required to vote only through the remote e-voting system.
Scrutinizer's Role
The Board of Directors has appointed Mr. P. N. Parikh (Membership No. FCS 327, CP 1228) of M/s. Parikh & Associates, Practising Company Secretaries, as the Scrutinizer. Failing him, Mr. Mitesh Dhabliwala (Membership No. FCS 8331, CP 9511) and then Ms. Sarvari Shah (Membership No. FCS 9697, CP 11717) are appointed. The Scrutinizer will conduct the postal ballot process in a fair and transparent manner and submit a report to the Chairman after the scrutiny of the remote e-voting.
Compliance Statement
The notice confirms compliance with Section 110 of the Companies Act, 2013, the Companies (Management and Administration) Rules, 2014, Regulation 44 of the SEBI LODR Regulations, Secretarial Standard SS-2, and various General Circulars issued by the Ministry of Corporate Affairs (MCA Circulars Nos. 14/2020, 17/2020, 22/2020, 33/2020, 39/2020, 10/2021, 20/2021, 3/2022, 11/2022, 09/2023, and 09/2024). The resolution is also mandated by Section 180(1)(a) of the Companies Act, 2013, and Regulation 37A of the SEBI Listing Regulations.
Additional Information
The notice is available on the company's website (www.imagicaaworld.com) and the websites of the stock exchanges (BSE and NSE). Members can inspect relevant documents by emailing compliance@imagicaaworld.com until the last date of remote e-voting (November 20, 2026). The results of the postal ballot will be uploaded on the company's website, the NSDL website (https://www.evoting.nsdl.com/), and communicated to the BSE and NSE on or before Sunday, November 22, 2026. The resolution will be deemed passed on the last date of remote e-voting (November 20, 2026) if approved by the requisite majority.