Summary of 36th AGM Proceedings: 9 Resolutions Passed Including Sale of Assets to Related Parties

The 36th AGM was held on 30 September 2026 via video conferencing, from 11:45 a.m. to 1:30 p.m.

Wed 30 Sep 2026

AGM Date

30 September 2026

Meeting Duration

11:45 a.m. to 1:30 p.m.

Shareholders on Cut-off Date

8565

Shareholders Participated via VC

35

Resolutions Passed

All 9 resolutions passed with requisite majority

What happened

Velan Hotels Limited held its 36th Annual General Meeting on 30 September 2026 through Video Conferencing / Other Audio Visual Means. The meeting began at 11:45 a.m. and ended at 1:30 p.m.

Attendance and voting base

• Shareholders as on the cut-off date of 23 September 2026: 8565
• Shareholders who participated through VC: 35
• Remote e-voting ran from 27 September 2026 (9:00 a.m.) to 29 September 2026 (5:00 p.m.); e-voting was also available during and after the meeting.
• Mr. S. Ganesh Viswanathan, Practicing Company Secretary, was appointed Scrutinizer.

Chairing of the meeting

Due to age and ill health, Managing Director and Board Chairman Mr. E.V. Muthukumara Ramalingam requested the other directors to elect a Chairman for the AGM. With the consent of the directors present, Executive Director Mr. M.R. Gautham was elected Chairman of the meeting. The CFO, Mrs. R. Lalitha, could not attend due to preoccupation.

Resolutions passed

All 9 resolutions set out in the notice dated 25 August 2026 were passed with the requisite majority:

• Adoption of the Balance Sheet as at 31 March 2026, Statement of Profit and Loss, Cash Flow Statement and Reports of Directors and Auditors (Ordinary)
• Re-appointment of Mr. M.R. Gautham, retiring by rotation (Ordinary)
• Re-appointment of Mrs. M. Sasikala, retiring by rotation (Ordinary)
• Related Party Transaction with Mr. E.V. Muthukumara Ramalingam, Managing Director (Ordinary)
• Related Party Transaction with Mr. Muthukumararamalingam Gautham, Executive Director (Ordinary)
• Related Party Transaction with M/s. Shree Vallee Enterprises Pvt Ltd, a promoter group company (Ordinary)
• Sale of assets of the Company to the related parties / willing purchasers (Special)
• Re-appointment of Mr. Muthukumararamalingam Gautham as Executive Director (Ordinary)
• Re-appointment of Mr. E.V. Muthukumara Ramalingam as Managing Director (Special)

Auditor observations

The Statutory Auditor read out the Independent Auditors' Report dated 22 May 2026, which contains qualifications / observations on the annual accounts for the financial year 2025-2026. The Secretarial Audit Report dated 25 August 2026 was taken as read.

Shareholder interaction

Members registered as speakers sought clarifications on the company's accounts and business, and the Chairman responded.

What to watch

The detailed e-voting results with the consolidated Scrutinizer's Report are to be shared with the stock exchange and placed on the company's website and on CDSL's website. Investors may also track how the approved related party transactions and the sanctioned sale of assets are implemented.

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