Annual report of the Company for the Financial Year 2024-2025
Awaiting price reaction for this filing.
Ashiana Ispat Limited has filed its Annual Report for FY 2024-25 along with the Notice for its 33rd Annual General Meeting scheduled for December 29, 2025 via video conferencing. The company sold substantially all of its undertaking — land, building, plant & machinery at Bhiwadi, Rajasthan — for ₹4,310 lakh under a One Time Settlement (OTS) with its lenders after its loan accounts were classified as Non-Performing Assets (NPA) by State Bank of India. The company is seeking post-facto shareholder approval for this asset sale, which took place on October 1, 2025. Additionally, the company is seeking ratification of non-compliance with SEBI LODR Regulations (Regulations 30, 23, and 24) citing severe financial distress and urgent OTS timelines. Other agenda items include appointment of new secretarial auditors (M/s C Gaur & Associates) for 5 years, regularization of Ms. Darshan as Director, and appointment of two Independent Directors for 5-year terms.
This filing highlights serious financial trouble — the company sold nearly all its operating assets to settle bank debt after being declared an NPA borrower. For shareholders, this is a major red flag signalling going concern risks; the company's core business assets are gone, and it now needs to rebuild operations, potentially diluting equity or operating as a much smaller entity going forward.