This is in reference to Regulation 30 Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 we hereby submitting you the Proceedings of ....
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Sea TV Network Ltd held its 21st AGM on September 29, 2025, via video conferencing, chaired by Chairman & Managing Director Neeraj Jain. The meeting lasted about 39 minutes and was attended by 43 members, with quorum confirmed throughout. All 5 resolutions were passed, including adoption of FY25 audited financial statements, re-appointment of Neeraj Jain as director (retiring by rotation), appointment of Sonia Rani & Associates as Secretarial Auditor, and appointment of two new Independent Directors — Ashok Kumar Jain and Anuprriya Goyel. Notably, Independent Director Rajeev Kumar Jain was absent. The Statutory Auditors' Report carried a qualified remark regarding non-recognition of ₹199.74 lakhs in interest expense on unsecured borrowings, with management citing financial constraints and pending debt restructuring with lenders.
The qualified audit remark on interest expenses and management's admission of difficulty in servicing debt obligations signal financial stress and likely ongoing debt restructuring — a material concern for shareholders. The addition of two new Independent Directors is a routine governance update, while the re-appointment of the MD is procedural.