Praxis Home Retail Board Approves ₹95.40 Crore Loan Waivers and Sets AGM Date
The waiver of loans totaling ₹95.40 crore represents a significant reduction in the company's debt burden, which can substantially improve its financial position and liquidity.
The company received waivers for loans aggregating to ₹95.40 crore (₹8,806.58 lakhs from related parties and ₹733.42 lakhs from Unique Malls Private Limited), significantly reducing its financial liabilities.
* Praxis Home Retail Limited's Board of Directors met on September 2, 2025, to consider several key matters. * The Board approved the appointment of Mr. Anant Gude of Anant Gude & Associates as the Secretarial Auditor for a term of five consecutive years, from financial year 2025-26 up to 2029-30, subject to shareholder approval at the ensuing Annual General Meeting (AGM). * Significant loan waivers were noted by the Board: * Waiver of loans, including principal and interest, aggregating to ₹8,806.58 lakhs (₹88.06 crore) extended by related parties to the Company. This is a material related party transaction requiring shareholder approval. * Waiver of loans, including principal and interest, aggregating to ₹733.42 lakhs (₹7.33 crore) extended by Unique Malls Private Limited to the Company. * Amendments to the terms of inter-corporate borrowings availed from related parties were approved, also subject to shareholder approval at the ensuing AGM. * The 14th Annual General Meeting (AGM) has been approved to be convened on Monday, September 29, 2025, through Video Conferencing (VC/OAVM) facility. * The cut-off date for determining the eligibility of equity shareholders to vote by electronic means at the 14th AGM was fixed as Monday, September 22, 2025. * The draft notice of the 14th AGM and the Director’s Report along with applicable annexures for the financial year ended March 31, 2025, were approved. * Mr. Anant Gude was also appointed as Scrutinizer to oversee the e-voting process for the 14th AGM.
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Praxis Home Retail Limited filed this with the NSE as a statutory disclosure, categorised under corporate actions. 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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