Praxis Home Retail Limited has received an order from the Hon’ble National Company Law Tribunal, Mumbai Bench (NCLT) regarding an Interlocutory Application in a Company Petition filed by Aegis Resolution Services Private Limited. The NCLT has directed the company to hand over control and possession of the leased premises located at "The Acropolis Mall", Thaltej, Ahmedabad within 30 days from March 18, 2026. Additionally, Praxis Home Retail Limited is required to make the payment of lease rentals due. The Lease Deed has been held to be a transaction covered under Section 66 of the Insolvency and Bankruptcy Code, 2016. The company is currently seeking legal advice to determine the appropriate steps to be taken in the best interest of the Company. While the closure of the Ahmedabad store may have a marginal impact on the Company’s overall turnover, management does not expect it to materially affect the Company’s financial position or future performance, as the store's contribution to total revenue has been minimal due to subdued footfall and high operating costs.
