Madhucon Projects to hold 35th AGM on Sep 26, 2025; seeks approval for non-provision of ₹67.86 crore interest on loans
The resolution concerning the non-provision of interest on a substantial amount of loans (₹67.86 crore) has a high impact on the company's financial health, balance sheet, and its relationship with lenders, potentially signaling significant financial restructuring or difficulties.
The proposal to not provide for interest on ₹67.86 crore in working capital and unsecured loans for FY2024-25, due to an ongoing One Time Settlement (OTS) proposal, indicates significant financial distress and uncertainty regarding debt obligations, which is a negative signal for the company's financial health.
Madhucon Projects Limited announced that its 35th Annual General Meeting (AGM) will be held on Friday, September 26, 2025, at 3:00 P.M. (IST) at the company’s Registered Office in Khammam.
Key details and proposed resolutions for the AGM include: * The Register of Members and Share Transfer Books will remain closed from Saturday, September 20, 2025, to Friday, September 26, 2025 (both days inclusive). * Adoption of the Audited Standalone and Consolidated Financial Statements for the financial year ended March 31, 2025. * Re-appointment of Mr. Mohammad Shafi (DIN: 07178265) as a Director. * Ratification of Mr. Sambasiva Rao Jasty's (DIN: 09526475) appointment as an Additional Director. * Ratification of Mr. Turlapati Venkata Sundara Jawaharlal Nehru's (DIN: 02072398) appointment as an Independent Director for a period of 5 years, effective from August 9, 2025, to August 8, 2030. * Appointment and approval of remuneration of M/s AS RAO & CO., Cost Accountants, as the Cost Auditor for the financial year ending March 31, 2026, with a remuneration of ₹1,00,000 (Rupees One Lakh only). * Appointment and approval of remuneration of V. Madhumita & Associates, Practicing Company Secretary, as the Secretarial Auditor for a 5-year term from FY2025-26 to FY2029-30. * Approval for Non-Provision of the Interest on Working Capital Loans & Unsecured Loans totaling ₹67.86 crore (Rupees Sixty-Seven Crore Eighty-Six Lakh only) for the full financial year 2024-25. This non-provision is based on the company's submission of a One Time Settlement (OTS) proposal to working capital banks and financial institutions, with approval currently pending.
Remote e-voting for the AGM will be open from 9:00 a.m. on Tuesday, September 23, 2025, to 5:00 p.m. on Thursday, September 25, 2025. The cut-off date for e-voting eligibility is September 19, 2025.
What to do with a filing like this
Madhucon Projects Limited filed this with the NSE as a statutory disclosure, categorised under agm-egm. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Madhucon Projects Limited. Read the original for the full detail.