Chalet Hotels logo

Chalet Hotels MD, chairman, board of directors and AGM

NSE: CHALETBSE: 542399Leisure ServicesSmall Cap

Last close ₹789.40down ₹29.80 (3.64%)BSE ₹789.55

Share price at the NSE close on 23 Oct 2026. Previous close ₹819.20.

52-week range of traded prices to 23 Oct 2026
₹691.35Low, 30 Mar 2026₹977.70High, 31 Oct 2025
Market cap
₹17,287 Cr378th largest listed
P/E
32.7
P/B
4.7
Dividend yield
0.25%
ROE
15.7%
ROCE
13.7%
Debt to equity
0.63
Volume, NSE
1,38,35268.4% delivered

Chalet Hotels board of directors

At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • ChairpersonHetal Madhukant Gandhi
  • Company Secretary and Compliance OfficerChristabelle Baptista

9 directors5 independent1 executive3 non-executive

  • Hetal Madhukant Gandhi · ChairpersonIndependent · joined Jun 2018 · reappointed Jun 2023 · 96 months as independent · 6 listed boards · 5 as independent · 5 committee seats, 2 as chair
  • JosephConrad Agnelo DsouzaIndependent · joined Jun 2018 · reappointed Jun 2023 · 96 months as independent · 5 listed boards · 5 as independent · 10 committee seats, 5 as chair
  • Arthur W De HaastIndependent · joined Jun 2018 · reappointed Jun 2023 · 96 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • Radhika Dilip PiramalIndependent · joined Jun 2018 · reappointed Jun 2023 · 96 months as independent · 2 listed boards · 2 as independent · 1 committee seat, 1 as chair
  • Manish Balkishan ChokhaniIndependent · joined Jun 2025 · reappointed Jun 2025 · 12 months as independent · 4 listed boards · 3 as independent · 3 committee seats, 1 as chair
  • Ravi Chandru RahejaNon-executive · joined Sep 1995 · 3 listed boards · 5 committee seats, 1 as chair
  • Neel Chandru RahejaNon-executive · joined Dec 1996 · 3 listed boards · 8 committee seats, 1 as chair
  • Sanjay SethiNon-executive · joined Feb 2018 · reappointed Feb 2026 · 1 listed board
  • Shwetank SinghExecutive · joined Oct 2024 · reappointed Feb 2026 · 1 listed board · 1 committee seat

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 14 May 20268 of 9 present5 independent · 19 days in between
    • 24 Apr 20268 of 9 present4 independent · 59 days in between
    • 23 Feb 20269 of 9 present5 independent
    • 2 Feb 20269 of 9 present5 independent

  • Audit Committee

    Chair JosephConrad Agnelo Dsouza

    Hetal Madhukant Gandhi, Arthur W De Haast, Ravi Chandru Raheja

    • 14 May 20263 of 4 present3 independent · 79 days in between
    • 23 Feb 20264 of 4 present3 independent · 20 days in between
    • 2 Feb 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair Radhika Dilip Piramal

    JosephConrad Agnelo Dsouza, Arthur W De Haast, Manish Balkishan Chokhani, Neel Chandru Raheja

    • 6 May 20265 of 5 present4 independent · 25 days in between
    • 10 Apr 20265 of 5 present4 independent

  • Stakeholders Relationship Committee

    Chair Neel Chandru Raheja

    Manish Balkishan Chokhani, Ravi Chandru Raheja, Shwetank Singh

    • 14 May 20263 of 4 present1 independent

  • Risk Management Committee

    Chair Arthur W De Haast

    JosephConrad Agnelo Dsouza, Manish Balkishan Chokhani, Neel Chandru Raheja, Sanjay Sethi, Shwetank Singh, Nitin Khanna, Gaurav Singh, Salil Khare

    • 14 May 20266 of 6 present3 independent

  • Corporate Social Responsibility Committee

    Chair Hetal Madhukant Gandhi

    Radhika Dilip Piramal, Neel Chandru Raheja, Sanjay Sethi, Shwetank Singh

    • 13 May 20264 of 5 present2 independent

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • B S R & Co. LLPPeer-review certificate valid to Jul 2028

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Chalet Hotels AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Chalet Hotels dividend history

Annual general meeting, 21 Sep 2026

46,546 shareholders on the register on 15 Sep 2026; present: 54 promoters and 31 others; votes counted by Saurabh Agarwal / MMJB & Associates LLP.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2026, along with the Report of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 95.77% · promoters 99.99% · institutions 95.99% · other public 0.43%

  2. To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2026 along with the Report of the Auditors thereon
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 95.77% · promoters 99.99% · institutions 95.99% · other public 0.43%

  3. Approval for payment of Final Dividend on the Equity Shares for the Financial Year 2025-26
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 95.78% · promoters 99.99% · institutions 96.03% · other public 0.43%

  4. Approve appointment of a Director in place of Mr. Ravi Raheja (DIN: 00028044), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    98.62% for1.38% against

    Against: promoters 0.00% · institutions 4.63% · other public 0.19%

    Turnout: all 95.78% · promoters 99.99% · institutions 96.03% · other public 0.43%

  5. Ratification of remuneration to the Cost Auditor.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.07%

    Turnout: all 95.78% · promoters 99.99% · institutions 96.03% · other public 0.43%

  6. Raising of funds through issue of Debt securities on a Private Placement basis
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.07%

    Turnout: all 95.78% · promoters 99.99% · institutions 96.03% · other public 0.43%

  7. Approve appointment of Mr. Gautam Mehra (DIN: 11700652) as an Independent Director of the Company.
    Special
    98.80% for1.20% against

    Against: promoters 0.00% · institutions 4.03% · other public 0.17%

    Turnout: all 95.68% · promoters 99.99% · institutions 95.68% · other public 0.43%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 30 Jan 2026, 3 resolutions

68,638 shareholders on the register on 26 Dec 2025; votes counted by Saurabh Agarwal / MMJB & Associates LLP.The company's voting result (opens in a new tab)

  1. Appointment of Mr. Shwetank Singh (DIN: 02976637) as the Managing Director and CEO of the Company for a period of three years with effect from February 1, 2026 to January 31, 2029 and approval of his remunerationMoreLess
    Special
    99.55% for0.45% against

    Against: promoters 0.00% · institutions 1.52% · other public 0.01%

    Turnout: all 96.42% · promoters 100.00% · institutions 97.61% · other public 19.72%

  2. Appointment of Dr. Sanjay Sethi (DIN: 00641243) as a Non-Independent Non-Executive Director of the Company
    Special
    98.27% for1.73% against

    Against: promoters 0.00% · institutions 5.89% · other public 0.00%

    Turnout: all 96.42% · promoters 100.00% · institutions 97.61% · other public 19.72%

  3. Approval for remuneration in the form of Commission to Non-Executive Directors of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 96.42% · promoters 100.00% · institutions 97.61% · other public 19.72%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 8 Aug 2025, 7 resolutions

65,976 shareholders on the register on 1 Aug 2025; present: 48 promoters and 27 others; votes counted by Saurabh Agarwal / MMJB & Associates LLP.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2025, along with the report of the Board of Directors and the Auditors thereonMoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.04%

    Turnout: all 94.25% · promoters 100.00% · institutions 91.97% · other public 2.27%

  2. To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2025, along with the report of Auditors thereon
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.04%

    Turnout: all 94.25% · promoters 100.00% · institutions 91.97% · other public 2.27%

  3. To appoint a Director in place of Dr. Sanjay Sethi (DIN: 00641243), who retires by rotation and being eligible, offers himself for re-appointment
    Ordinary
    99.88% for0.12% against

    Against: promoters 0.00% · institutions 0.43% · other public 0.08%

    Turnout: all 94.25% · promoters 100.00% · institutions 91.97% · other public 2.27%

  4. Ratification of remuneration to the Cost Auditor
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.04%

    Turnout: all 94.25% · promoters 100.00% · institutions 91.97% · other public 2.27%

  5. To consider and approve the appointment of Mr. Manish Chokhani (DIN: 00204011) as an Independent Director of the Company
    Special
    91.81% for8.19% against

    Against: promoters 0.00% · institutions 28.82% · other public 0.08%

    Turnout: all 94.25% · promoters 100.00% · institutions 91.97% · other public 2.27%

  6. To consider and approve the appointment of M/s. KDA & Associates as the Secretarial Auditor of the Company
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.06% · other public 0.04%

    Turnout: all 94.25% · promoters 100.00% · institutions 91.96% · other public 2.27%

  7. To consider and approve raising of funds through issue of Debt securities on a Private Placement basis
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.04%

    Turnout: all 94.25% · promoters 100.00% · institutions 91.97% · other public 2.27%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Meeting called by the tribunal, 13 May 2025, 1 resolution

66,224 shareholders on the register on 7 May 2025; present: 46 promoters and 14 others; votes counted by Saurabh Agarwal / MMJB & Associates LLP.The company's voting result (opens in a new tab)

  1. Approval of the Scheme of Arrangement and Amalgamation amongst Sonmil Industries Private Limited i.e. Transferor Company No. 1, The Dukes Retreat Private Limited i.e. Transferor Company No. 2 and Chalet Hotels Limited, Transferee Company and their respective Shareholders and Creditors under Sections 230 to 232 and other applicable provisions of the ActMoreLess
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 93.80% · promoters 100.00% · institutions 90.28% · other public 1.75%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 13 Dec 2024, 4 resolutions

The company's voting result (opens in a new tab)

  1. To consider and approve the appointment of Mr. Shwetank Singh (DIN: 02976637) as Director of the Company
    Ordinary
    97.94% for2.06% against

    Against: promoters 0.00% · institutions 7.32% · other public 0.04%

    Turnout: all 94.73% · promoters 100.00% · institutions 93.01% · other public 15.35%

  2. To consider and approve the appointment of Mr. Shwetank Singh (DIN: 02976637) as an Executive Director of the Company for a period of three years
    Special
    98.23% for1.77% against

    Against: promoters 0.00% · institutions 6.29% · other public 0.04%

    Turnout: all 94.73% · promoters 100.00% · institutions 93.01% · other public 15.35%

  3. To consider and approve raising of funds through issue of Debt securities on a Private Placement basis
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 94.73% · promoters 100.00% · institutions 93.01% · other public 15.35%

  4. To consider and approve alteration of Articles of Association of the Company
    Special
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.24% · other public 0.01%

    Turnout: all 94.73% · promoters 100.00% · institutions 93.01% · other public 15.35%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 8 Aug 2024, 5 resolutions

Present: 51 promoters and 27 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2024, along with the Report of the Board of Directors and Auditors thereonMoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 93.32% · promoters 98.91% · institutions 93.29% · other public 0.26%

  2. To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2024 along with the Report of the Auditors thereon
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 93.32% · promoters 98.91% · institutions 93.29% · other public 0.26%

  3. To consider and approve payment of dividend on 0.001% Non-Cumulative Redeemable Preference Shares of the Company amounting to Rs.1,600 in the aggregate for the Financial Year 2023-24
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.15%

    Turnout: all 93.32% · promoters 98.91% · institutions 93.29% · other public 0.26%

  4. To appoint a Director in place of Mr. Neel C. Raheja (DIN: 00029010), who retires by rotation and being eligible, offers himself for re-appointment
    Ordinary
    97.66% for2.34% against

    Against: promoters 0.00% · institutions 8.22% · other public 0.18%

    Turnout: all 93.32% · promoters 98.91% · institutions 93.29% · other public 0.26%

  5. Ratification of remuneration to the Cost Auditor
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 93.32% · promoters 98.91% · institutions 93.29% · other public 0.26%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 10 Mar 2024, 1 resolution

The company's voting result (opens in a new tab)

  1. To consider and approve raising of capital by way of public or private offerings, including through a Qualified Institutions Placement to eligible investors through an issuance of Equity Shares or other eligible convertible securities for an amount not exceeding Rs.2,000 croreMoreLess
    Special
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.09% · other public 0.10%

    Turnout: all 92.97% · promoters 100.00% · institutions 88.72% · other public 0.10%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 10 Aug 2023, 11 resolutions

Present: 42 promoters and 22 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2023, along with the Report of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 95.16% · promoters 100.00% · institutions 93.88% · other public 15.62%

  2. To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2023 along with the Report of the Auditors thereon.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 95.16% · promoters 100.00% · institutions 93.88% · other public 15.62%

  3. To consider and approve payment of dividend on 0.001% Non-Cumulative Redeemable Preference Shares of the Company amounting to Rs.1,600 in the aggregate for the Financial Year 2022-23.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 95.25% · promoters 100.00% · institutions 94.27% · other public 15.62%

  4. To appoint a Director in place of Mr. Ravi C. Raheja (DIN: 00028044), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    98.47% for1.53% against

    Against: promoters 0.00% · institutions 6.34% · other public 0.01%

    Turnout: all 95.25% · promoters 100.00% · institutions 94.27% · other public 15.62%

  5. Ratification of remuneration to the Cost Auditor.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 95.25% · promoters 100.00% · institutions 94.27% · other public 15.62%

  6. To approve remuneration payable to Non-Executive Directors of the Company by way of Commission.
    Special
    99.68% for0.32% against

    Against: promoters 0.00% · institutions 1.31% · other public 0.01%

    Turnout: all 95.25% · promoters 100.00% · institutions 94.27% · other public 15.62%

  7. Re-appointment of Mr. Sanjay Sethi (DIN: 00641243) as Managing Director & CEO of the Company for a period upto January 31, 2026 and approval of his remuneration.
    Special
    99.66% for0.34% against

    Against: promoters 0.00% · institutions 1.39% · other public 0.01%

    Turnout: all 95.25% · promoters 100.00% · institutions 94.27% · other public 15.60%

  8. Variation in the tenure of redemption of 0.001% Non-Cumulative Redeemable Preference Shares and consequential amendment in the Articles of Association of the Company.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 95.25% · promoters 100.00% · institutions 94.27% · other public 15.62%

  9. Raising of funds through issue of Debt securities on a Private Placement basis.
    Special
    99.82% for0.18% against

    Against: promoters 0.00% · institutions 0.76% · other public 0.01%

    Turnout: all 95.25% · promoters 100.00% · institutions 94.27% · other public 15.62%

  10. To raise funds from the Promoters by way of Unsecured Loans or Inter Corporate Deposits or any combination thereof.
    SpecialPromoters have an interest in it
    99.26% for0.74% against

    Against: promoters 0.00% · institutions 0.76% · other public 0.01%

    Turnout: all 23.60% · promoters 0.00% · institutions 94.27% · other public 15.60%

  11. Approval of the CHL Employee Stock Option Plan 2023.
    Special
    99.61% for0.39% against

    Against: promoters 0.00% · institutions 1.62% · other public 0.01%

    Turnout: all 95.25% · promoters 100.00% · institutions 94.27% · other public 15.62%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.Funds that hold it

Mutual fund votes, meeting of 21 Sep 2026, 10 fund houses so far (houses' deadline to file 15 Oct 2026)

  • To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2026, along with the Report of the Board of Directors and Auditors thereon.MoreLess
    10 for0 against
  • To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2026 along with the Report of the Auditors thereon
    10 for0 against
  • Approval for payment of Final Dividend on the Equity Shares for the Financial Year 2025-26
    10 for0 against
  • Approve appointment of a Director in place of Mr. Ravi Raheja (DIN: 00028044), who retires by rotation and being eligible, offers himself for re-appointment.
    10 for0 against
  • Ratification of remuneration to the Cost Auditor.
    10 for0 against
  • Raising of funds through issue of Debt securities on a Private Placement basis
    10 for0 against
  • Approve appointment of Mr. Gautam Mehra (DIN: 11700652) as an Independent Director of the Company.
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, Navi Mutual Fund
    • Angel One Mutual FundGovernance concern: Pecuniary relationship due to association with a firm that receives professional fees from the Company & may create a potential conflict of interest and could affect the perception of the Director’s independence and objectivity.
    • Edelweiss Mutual Fund, Navi Mutual FundCompliant with law. No concern on the merit of proposed appointee. Governance concern: Pecuniary relationship due to association with a firm that receives professional fees from the Company & may create a potential conflict of interest and could affect the perception of the Director’s independence and objectivity.
    7 for3 against

Mutual fund votes, meeting of 30 Jan 2026, 22 fund houses

  • Appointment of Mr. Shwetank Singh (DIN: 02976637) as the Managing Director and CEO of the Company for a period of three years with effect from February 1, 2026 to January 31, 2029 and approval of his remunerationMoreLess
    Against Invesco Mutual Fund, Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund
    • Invesco Mutual FundShwetank Singh, 51, is currently Executive Director of the company. Earlier he served as Chief Growth & Strategy Officer of the company. He has over 26 years of experience in hospitality, real estate, strategy management and business operations. He attended the two board meetings (100%) in FY25 and all six board meetings (100%) in FY26 till the date of the notice. He holds a B. Tech in Mining Machinery from Indian Institute of Technology and an MBA in Finance and Marketing from Faculty of Management Studies. He received Rs. 69.6 mn as remuneration in FY25, including fair value of stock options granted in FY24 (fair value has been spread across FY24 and FY25). While his proposed cash remuneration for FY26 is estimated at Rs. 47.0 mn and his fixed remuneration and performance bonus for the tenure of appointment are capped at Rs. 80.0 mn, the quantum of stock options that can be granted during his term has not been disclosed. Hence, we are unable to determine the remuneration payable to him. The company must provide details regarding the stock options that can be granted during his term and the performance metrics that determine variable pay. While we support the appointment, we do not support the resolution, as we are unable to determine the proposed remuneration
    • Jio BlackRock Mutual FundShwetank Singh, 51, is currently Executive Director of the company. Earlier he served as Chief Growth & Strategy Officer of the company. He has over 26 years of experience in hospitality, real estate, strategy management and business operations. He attended the two board meetings (100%) in FY25 and all six board meetings (100%) in FY26 till the date of the notice. He holds a B. Tech in Mining Machinery from Indian Institute of Technology and an MBA in Finance and Marketing from Faculty of Management Studies.He received Rs. 69.6 mn as remuneration in FY25, including fair value of stock options granted in FY24 (fair value has been spread across FY24 and FY25). While his proposed cash remuneration for FY26 is estimated at Rs. 47.0 mn and his fixed remuneration and performance bonus for the tenure of appointment are capped at Rs. 80.0 mn, the quantum of stock options that can be granted during his term has not been disclosed. Hence, we are unable to determine the remuneration payable to him. The company must provide details regarding the stock options that can be granted during his term and the performance metrics that determine variable pay. While we support the appointment, we do not support the resolution, as we are unable to determine the proposed remuneration.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    19 for3 against
  • Appointment of Dr. Sanjay Sethi (DIN: 00641243) as a Non-Independent Non-Executive Director of the Company
    22 for0 against
  • Approval for remuneration in the form of Commission to Non-Executive Directors of the Company
    22 for0 against
6 earlier meetings

Mutual fund votes, meeting of 8 Aug 2025, 19 fund houses

  • To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2025, along with the report of the Board of Directors and the Auditors thereonMoreLess
    19 for0 against
  • To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2025, along with the report of Auditors thereon
    19 for0 against
  • To appoint a Director in place of Dr. Sanjay Sethi (DIN: 00641243), who retires by rotation and being eligible, offers himself for re-appointment
    19 for0 against
  • Ratification of remuneration to the Cost Auditor
    19 for0 against
  • To consider and approve the appointment of Mr. Manish Chokhani (DIN: 00204011) as an Independent Director of the Company
    Against Canara Robeco Mutual Fund, HDFC Mutual Fund, Mirae Asset Mutual Fund, Sundaram Mutual Fund
    • Canara Robeco Mutual Fund, Sundaram Mutual FundManish Chokhani, 59, is the former CEO of Enam Securities and subsequently served as Managing Director and CEO of Axis Capital Ltd. following the merger of Enam with Axis Bank, until November 2013. We raise concerns that the company has proposed his appointment as an Independent Director through an ordinary resolution – regulations require shareholder approval by way of a special resolution. Additionally, he served on the board of Shoppers Stop Limited, a promoter group entity, from 31 July 2014 to 30 July 2024. We consider overall association with the promoter group for computing aggregate tenure. Since his association with the promoter group exceeds ten years, we do not support his appointment as an Independent Director. We do not support the resolution.
    • HDFC Mutual FundMr. Manish Chokhani, 59, is the former CEO of Enam Securities and subsequently served as Managing Director and CEO of Axis Capital Ltd. His overall association with the promoter group exceeds ten years. We do not support the resolution.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    15 for4 against
  • To consider and approve the appointment of M/s. KDA & Associates as the Secretarial Auditor of the Company
    19 for0 against
  • To consider and approve raising of funds through issue of Debt securities on a Private Placement basis
    19 for0 against

Mutual fund votes, meeting of 13 May 2025, 19 fund houses

  • Approval of the Scheme of Arrangement and Amalgamation amongst Sonmil Industries Private Limited i.e. Transferor Company No. 1, The Dukes Retreat Private Limited i.e. Transferor Company No. 2 and Chalet Hotels Limited, Transferee Company and their respective Shareholders and Creditors under Sections 230 to 232 and other applicable provisions of the ActMoreLess
    19 for0 against

Mutual fund votes, meeting of 13 Dec 2024, 16 fund houses

  • To consider and approve the appointment of Mr. Shwetank Singh (DIN: 02976637) as Director of the Company
    16 for0 against
  • To consider and approve the appointment of Mr. Shwetank Singh (DIN: 02976637) as an Executive Director of the Company for a period of three years
    Against Mirae Asset Mutual Fund, Navi Mutual Fund
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    • Navi Mutual FundShwetank Singh, was appointed as Chief Growth & Strategy Officer of the company in August 2023 and he received a remuneration of Rs. 61.8 mn in FY24 including fair value of stock options granted in FY24 (fair value has been spread across FY24 and FY25). The company proposes to appoint him as Executive Director from 24 October 2024. While his proposed remuneration terms cap his fixed remuneration and performance bonus at Rs. 80.0 mn, the quantum of stock options that can be granted during his term has not been provided. Hence, we are unable to determine the remuneration payable to him. The company must provide details regarding the stock options that can be granted during his term and the performance metrics that will determine his variable pay. We do not support the resolution.
    14 for2 against
  • To consider and approve raising of funds through issue of Debt securities on a Private Placement basis
    16 for0 against
  • To consider and approve alteration of Articles of Association of the Company
    Against Bandhan Mutual Fund, Groww Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual FundCompliant with law. No concern in relation with rights which cover cases specifically covered under law i.e., Nomination by Debenture Trustees in the event of defaults. Governance Concern: Provides rights for instances wherein the scope is not restricted to merely what is provided in law. Nomination rights undermines the role of NRC.
    14 for2 against

Mutual fund votes, meeting of 8 Aug 2024, 14 fund houses

  • To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2024, along with the Report of the Board of Directors and Auditors thereonMoreLess
    14 for0 against
  • To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2024 along with the Report of the Auditors thereon
    14 for0 against
  • To consider and approve payment of dividend on 0.001% Non-Cumulative Redeemable Preference Shares of the Company amounting to Rs.1,600 in the aggregate for the Financial Year 2023-24
    14 for0 against
  • To appoint a Director in place of Mr. Neel C. Raheja (DIN: 00029010), who retires by rotation and being eligible, offers himself for re-appointment
    14 for0 against
  • Ratification of remuneration to the Cost Auditor
    14 for0 against

Mutual fund votes, meeting of 10 Mar 2024, 9 fund houses

  • To consider and approve raising of capital by way of public or private offerings, including through a Qualified Institutions Placement to eligible investors through an issuance of Equity Shares or other eligible convertible securities for an amount not exceeding Rs.2,000 croreMoreLess
    Against Groww Mutual Fund
    • Groww Mutual FundCompliant with law. Governance Concern: Significant Dilution and no specific justification which indicates urgent need of funds.
    8 for1 against

Mutual fund votes, meeting of 10 Aug 2023, 8 fund houses

  • To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2023, along with the Report of the Board of Directors and Auditors thereon.MoreLess
    8 for0 against
  • To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2023 along with the Report of the Auditors thereon.
    8 for0 against
  • To consider and approve payment of dividend on 0.001% Non-Cumulative Redeemable Preference Shares of the Company amounting to Rs.1,600 in the aggregate for the Financial Year 2022-23.
    8 for0 against
  • To appoint a Director in place of Mr. Ravi C. Raheja (DIN: 00028044), who retires by rotation and being eligible, offers himself for re-appointment.
    8 for0 against
  • Ratification of remuneration to the Cost Auditor.
    8 for0 against
  • To approve remuneration payable to Non-Executive Directors of the Company by way of Commission.
    8 for0 against
  • Re-appointment of Mr. Sanjay Sethi (DIN: 00641243) as Managing Director & CEO of the Company for a period upto January 31, 2026 and approval of his remuneration.
    8 for0 against
  • Variation in the tenure of redemption of 0.001% Non-Cumulative Redeemable Preference Shares and consequential amendment in the Articles of Association of the Company.
    8 for0 against
  • Raising of funds through issue of Debt securities on a Private Placement basis.
    8 for0 against
  • To raise funds from the Promoters by way of Unsecured Loans or Inter Corporate Deposits or any combination thereof.
    8 for0 against
  • Approval of the CHL Employee Stock Option Plan 2023.
    8 for0 against

Each fund house counted once, from its own disclosure; the reasons are its own words.

Tax disputes and stakes in unlisted companies

Reported in the filing for the quarter to Jun 2026.

  • Unlisted stake boughtSeasons Hotels Private LimitedSince 25 Apr 2026

    51.00% bought in the quarter; holding 51.00%, from 0.00%

  • Unlisted stake boughtSeasons Hotels Private LimitedSince 5 May 2026

    49.00% bought in the quarter; holding 49.00%, from 0.00%

  • Tax disputeJoint Commissioner JCCT(APPEALS)-1, BengaluruSince 15 Feb 2024
    Appeal filed with GST Appellate Tribunal on June 30, 2026
  • Tax disputeJoint Commissioner of State Tax (APPEALS)Since 30 Mar 2026
    Appeal filed with Joint Commissioner of State Tax (APPEALS) on June 29, 2026

In the company's own words, from its latest governance filing.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

None open at any quarter's end.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
Yes
The chair is related to the managing director
No
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.