Praxis Home Retail Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 29, 2025
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Praxis Home Retail Limited held its 14th Annual General Meeting (AGM) on September 29, 2025, via video conferencing from 11:30 AM to 12:49 PM, with 42 members in attendance. The regular Chairman, Mr. Vijai Singh Dugar, attended from the U.S.A. but could not chair the meeting due to travel commitments and time zone issues, so CEO and Whole-Time Director Mr. Ashish Bhutda was elected to chair. Five business items were taken up, including adoption of audited financial statements for FY ended March 31, 2025 — which notably contained a few audit qualifications that were read out with management's explanations. Other items included re-appointment of Mr. Samson Samuel as a director (retiring by rotation), appointment of the Secretarial Auditor, and two Special Resolutions on Material Related Party Transactions — one for waiver of loan and interest payable by the Company, and another for material RPTs involving borrowings. Two directors (Mr. Samson Samuel and Ms. Anou Singhvi) could not attend due to prior commitments. Voting results (remote e-voting plus AGM e-voting) and the Scrutiniser's Report were to be announced within 48 hours.
Routine procedural filing for AGM compliance, but it flags audit qualifications on FY25 financial statements and two material related party transactions (loan/interest waiver and borrowings) that required shareholder approval as Special Resolutions. Investors should watch the voting outcome on the RPT resolutions and review the detailed financial statements to assess the nature of the audit qualifications.