Eraaya Lifespaces sets 59th AGM to approve borrowing up to INR 3500 crores

Eraaya Lifespaces Limited will hold its 59th Annual General Meeting (AGM) on Tuesday, September 30, 2025, at 4:30 P.M. (IST) via video conferencing. Shareholders will consider and adopt the audited financial statements for the financial year ended March 31, 2025, and reports from the board of directors and auditors. Additionally, the company proposes the appointment of M/s Shubhangi Agarwal & Associates as secretarial auditors for a five-year term, from FY 2025-26 to FY 2029-30.

The board of directors seeks authorization to borrow up to INR 3500 Crores, exceeding the aggregate of the paid-up share capital, free reserves, and securities premium. Shareholders will also vote on authorizing the board to make loans and investments, provide guarantees, or offer security up to INR 3500 Crores, surpassing the limits specified under Section 186 of the Companies Act, 2013. Furthermore, approval is sought for related party transactions up to an aggregate value of INR 1500 Crores for the Financial Year 2025-26.

A special resolution will be presented to allow the conversion of loans into equity shares at the option of various lenders, including promoters and financial institutions. The remote e-voting period for these resolutions will open on September 27, 2025, at 9:00 A.M. and close on September 29, 2025, at 5:00 P.M.