Viceroy Hotels Limited — Important, 20-03-2025: Updates

Viceroy Hotels Limited shareholders approved the appointment of Ms. Shruti Gupta as an Independent Director, effective from February 7, 2025, with overwhelming support of 5,68,48,045 votes in favor against just 59 votes against. However, a related party transaction involving Mrs. K. Sukanya Reddy and others for leasing land for a hotel construction, with a refundable deposit of Rs. 5 Crore and a monthly lease payment of Rs. 15 Lakhs plus escalation, did not receive requisite majority approval, garnering only 1,486 votes in favor compared to 4,513 against. This indicates significant shareholder support for the company’s governance enhancements while raising questions around the proposed lease transaction’s alignment with shareholder interests. Investors should monitor how these governance changes affect the company's strategic initiatives moving forward.