Annual Report of the Company along with its notice of 36th Annual General Meeting for the financial year 2024-25 in terms of Regulation 34 of the SEBI (LODR) Regulations, 2015.
Awaiting price reaction for this filing.
South Asian Enterprises Ltd has filed its Annual Report for FY 2024-25 along with the notice of its 36th AGM, scheduled for Wednesday, 24 September 2025 at 12:30 p.m. via video conferencing. The record date/cut-off for voting is 17 September 2025. Ordinary business includes adoption of audited standalone and consolidated financial statements for the year ended 31 March 2025, and re-appointment of Shri Abhinav Shobhit (DIN: 10155183), who retires by rotation. The key special business item is a proposal to write off the entire loan of Rs. 2,90,40,077 (around Rs 2.90 crore), including principal and accrued interest, given to Chai Thela Private Limited (CTPL), which ceased to be a subsidiary of the company on 27 March 2025. CTPL had approached the company for a full waiver after failing to repay due to financial difficulties, and the Board had already created a provision for impairment on this loan.
Shareholders should note the proposed write-off of about Rs 2.90 crore against the CTPL loan is a one-time hit already provisioned in the books, but it confirms an actual loss on a former subsidiary exposure. Approval of the AGM resolutions is largely procedural, but the loan write-off signals weak recovery from CTPL and reflects past lending decisions turning sour.