Kaya Limited has informed the Exchange about Director Loan Repayment
KAYA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Kaya Limited's Board has approved the repayment of loans taken from its two promoter-directors, Mr. Harsh Mariwala and Mr. Rajen Mariwala, of up to Rs. 100 Crores each (total up to Rs. 200 Crores). The repayment is subject to shareholder approval, which will be sought through a postal ballot process. The exact timeline and source of funds for the repayment were not disclosed in this filing.
This reduces the company's outstanding debt obligations to related parties, which is generally positive for the balance sheet. Shareholders should watch for the postal ballot outcome and any further details on how the repayment will be funded.