Praxis Home Retail Limited has announced the sudden demise of its Chairman and Independent Director, Mr. Vijai Singh Dugar, who passed away on March 14, 2026. The company informed stock exchanges BSE and NSE about this development through a regulatory filing under Regulation 30 of SEBI Listing Regulations.

Board Tenure and Contributions

Mr. Dugar had been associated with Praxis Home Retail since August 12, 2024, marking his first term on the Board of Directors. During his tenure, his experience and expertise in Financial Accounting, Internal Audit, and Strategic business planning proved invaluable to the company's operations.

Committee Positions

Following his demise on March 14, 2026, Mr. Dugar ceased to hold his positions on key board committees:

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 read with Para A (7) of Part A of Schedule III of the Listing Regulations and SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026. The cessation details have been formally communicated to both BSE and NSE.

Company Statement

The Board of Directors and senior management have conveyed their deepest sympathy and heartfelt condolences to Mr. Dugar's bereaved family. The company stated that Mr. Dugar will always be remembered with great respect and admiration for his contributions during his tenure.

The disclosure has also been made available on the company's official website at www.praxisretail.in , ensuring transparency and compliance with regulatory requirements.

Praxis Home Retail Limited has successfully concluded its postal ballot process on March 08, 2026, with overwhelming shareholder support for key management appointments. The company disclosed the results under Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, marking a significant milestone in its corporate governance structure.

Postal Ballot Results and Shareholder Participation

The e-voting process, conducted exclusively through NSDL's electronic platform, concluded at 5:00 PM on March 08, 2026. Out of 27,335 total shareholders on the cut-off date of January 30, 2026, a total of 125 shareholders from the Public-Non Institutions category participated in the voting process.

Management Appointments Approved

Shareholders approved three critical resolutions through the postal ballot process, strengthening the company's leadership structure with strategic appointments.

New CEO Profile and Experience

Mr. Shashwat Nigam brings over 18 years of experience as a seasoned P&L owner and operator, combining entrepreneurial agility with large-enterprise rigour. He has worked with Praxis Home Retail Limited's management team over the last 7 months as a consultant and part of the management advisory committee, initiating key turnaround actions including organisation restructuring, KPI-driven execution, and cash-flow prioritisation.

Prior to joining the company, Mr. Nigam led the ₹3,000 crore national retail business at Entero Healthcare, where he integrated multiple acquisitions into a unified organisation and supported the company's IPO journey. He spent 14 years with Hindustan Unilever Limited in leadership roles across modern trade, supply chain, procurement, and digital transformation. Mr. Nigam holds a post-graduate program in Management from Indian School of Business (ISB), Hyderabad and a B.Tech degree in Mechanical Engineering from IIT BHU, Varanasi.

Independent Director Appointment

Mr. Ravi Venkatraman, a Chartered Accountant (ACA), Cost Accountant (ICWA), and Commerce graduate, brings over four decades of extensive experience in the BFSI sector. He retired in July 2020 as Executive Director & Chief Financial Officer of Mahindra & Mahindra Financial Services Limited, where he played a pivotal role in corporate strategy, capital raising, governance, risk management, and regulatory engagement.

Mr. Venkatraman currently holds directorships in several listed entities including Arisinfra Solutions Limited, SBFC Finance Limited, SML Mahindra Limited, Kotak Mahindra Prime Limited, and Avanse Financial Services Limited.

Scrutinizer Report and Regulatory Compliance

Anant Gude & Associates, appointed as the scrutinizer, conducted the postal ballot process in accordance with Section 108 & 110 of the Companies Act, 2013. The e-voting facility was provided by National Securities Depository Limited (NSDL), with MUFG Intime India Private Limited serving as the Registrar & Share Transfer Agent.

The company has fulfilled all regulatory requirements under SEBI LODR Regulations, with detailed voting results made available on the company website at www.praxisretail.in . Both appointees have been confirmed as not being debarred from holding director positions by SEBI or any other authority. The appointments mark a significant milestone in the company's corporate governance and strategic direction.