To approve the revision of interest rate payable onthe unsecured loan given by directors.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Mahalaxmi Seamless Limited's board, at its meeting on 5 September 2025, approved raising the interest rate on unsecured loans taken from its directors, Mr. Vivek Madhavprasad Jalan (Managing Director) and Mrs. Mala Sharma (Director), from 12% per annum to 13% per annum. The revised rate will apply to the outstanding loan amount until the loan is repaid. The resolution was passed under Sections 179(3)(d) and 180(1)(c) of the Companies Act, 2013. This is effectively a related-party transaction involving the company's promoters/directors lending money to the business.
Minor impact for shareholders — a 1 percentage point increase in interest cost on director loans will slightly raise the company's finance expenses, but it reflects arm's-length pricing and signals ongoing promoter support through continued funding.