Notice of Annual General Meeting along with Annual Report of the Company for the Financial Year 2024-25.
Awaiting price reaction for this filing.
South Asian Enterprises Ltd has issued notice for its 36th Annual General Meeting (AGM) scheduled for Wednesday, 24th September 2025 at 12:30 p.m. via video conferencing, along with the Annual Report for FY 2024-25. Ordinary business includes adoption of audited standalone and consolidated financial statements for the year ended March 31, 2025, and the re-appointment of Shri Abhinav Shobhit (DIN: 10155183) as director, who retires by rotation. The key item under special business is a resolution to write off the entire loan extended to Chai Thela Private Limited (CTPL), a former subsidiary (until 27/03/2025), aggregating Rs. 2,90,40,077 (about Rs. 2.90 crore) including principal and accrued interest. The original loan of Rs. 2.65 crore was sanctioned in March 2021 at 7% interest (later revised to 8% from April 2023), but repayment did not happen due to CTPL's continuing losses, and the board has already approved full provisioning for impairment on principal and accrued interest of Rs. 27.67 lakhs in FY 2024-25.
Shareholders are being asked to approve the formal write-off of a Rs. 2.90 crore loan to a former subsidiary, representing a full loss on that exposure; however, the financial hit has already been provisioned in the FY 2024-25 accounts, so approval simply formalizes an already-recognized impairment rather than introducing fresh losses.