Praxis Home Retail to hold AGM, seek approval for ₹88.06 Crore loan waiver and related party transactions
The proposed waiver of a substantial amount (₹8,806.58 Lakhs or ₹88.06 Crore) in loans and interest from related parties is a material event that will have a high positive impact on the company's balance sheet and financial stability by reducing its debt burden.
The company is seeking shareholder approval for the waiver of loans and interest totaling ₹8,806.58 Lakhs (₹88.06 Crore) from related parties, which significantly reduces its liabilities and improves its financial position.
Praxis Home Retail Limited announced that its 14th Annual General Meeting (AGM) will be held on Monday, September 29, 2025, at 11:30 A.M. (IST) through Video Conferencing/Other Audio-Visual Means.
Key agenda items for shareholder approval include: * Adoption of the Audited Standalone Financial Statements for the financial year ended March 31, 2025. * Re-appointment of Mr. Samsun Samuel as a Director, who retires by rotation. * Appointment of Mr. Anant Gude, of Anant Gude & Associates, as the Secretarial Auditor for a term of five consecutive years from FY 2025-26 to FY 2029-30. * Approval of a Material Related Party Transaction (MRPT) involving the waiver of loans and interest, aggregating to ₹8,806.58 Lakhs (₹88.06 Crore), extended to the Company by related parties. * Approval of another MRPT for the continuation of existing loans and fresh loans from related parties during FY 2025-26, totaling ₹3,345.08 Lakhs (₹33.45 Crore). These loans will carry an interest rate of 12% per annum and be repaid in three installments.
The cut-off date for determining members eligible to vote through remote e-voting is Monday, September 22, 2025. The remote e-voting period will commence on Friday, September 26, 2025, at 09:00 AM (IST) and conclude on Sunday, September 28, 2025, at 05:00 PM (IST).
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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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