Alps Industries Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 30, 2025
Awaiting price reaction for this filing.
Alps Industries held its 53rd Annual General Meeting on September 30, 2025, via video conferencing on the CDSL platform. The meeting was chaired by Mr. Hemant Sharma, who was recently appointed as the Insolvency Resolution Professional (IRP) under the Insolvency and Bankruptcy Code (IBC), indicating the company is currently under insolvency proceedings. Five resolutions were taken up, including adoption of audited financial statements for FY ending March 31, 2025, re-appointment of Mr. Sandeep Agarwal as Managing Director (including a three-year extension from April 2026 to March 2029 via special resolution), and appointment of new Statutory Auditors (M/s O. Aggarwal & Co) and Secretarial Auditors (M/s Reshi & Associates). All voting was conducted through remote e-voting and e-voting during the meeting, which ran from 3:00 PM to 4:00 PM.
Shareholders should note that the company is operating under IBC with an IRP chairing the AGM, which is a significant red flag for the stock. The resolutions are largely procedural and their long-term relevance depends on the outcome of the ongoing insolvency resolution process.