Alps Industries Limited has informed the Exchange regarding Change in Director(s) of the Company.
Awaiting price reaction for this filing.
Alps Industries has implemented an NCLT-approved resolution plan (approved on November 4, 2025), triggering a complete shake-up of its board. The offices of 6 existing directors, including Managing Director Sandeep Agarwal and 5 other directors, have been vacated by the NCLT order. In their place, 4 new directors have been appointed effective December 1, 2025: Vinod Kumar as Whole-Time Director (stock market background, 22 years experience), Sanjeev Khanna as Non-Executive Director (retail and marketing background, 38 years experience), and two Independent Directors - Aayushi Kukreja and Sandhya Kohli (both MBA Finance). All new appointments are subject to shareholder approval at the next general meeting. This effectively marks the company's exit from the insolvency resolution process.
This represents a major governance reset as Alps Industries emerges from the NCLT insolvency process. A new board aligned with the resolution applicant now controls the company, which could signal a fresh operating start but also brings uncertainty as the new management takes charge and shareholder approval is still pending.