Asian Hotels (North) Limited — Board Meeting, 15-01-2025: Outcome of Board Meeting

The Board has approved the reclassification of certain outgoing promoters from the 'Promoter/Promoter Group' category to 'Public' in compliance with SEBI regulations. This decision comes after acknowledging that the outgoing promoters collectively hold only 3.17% of the company's paid-up equity share capital, thus lacking any control over company management. The approval is subject to shareholder and stock exchange consent. The board emphasized that these promoters will not engage in any decision-making or key managerial roles moving forward.