Arshiya cites CIRP process for delayed financial results filing
ARSHIYA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Arshiya Limited, currently under Corporate Insolvency Resolution Process (CIRP), responded to NSE's query on delayed submission of quarterly financial results and non-submission of consolidated financial results for quarter ended 30-Sep-2024. The company blamed CIRP-related operational challenges and limited compliance resources for the delays. Some subsidiaries are also under CIRP, preventing preparation of consolidated accounts. Mr Pankaj Mahajan serves as Resolution Professional appointed by NCLT Mumbai Bench.
Filing delays raise compliance concerns, but company attributes them to CIRP constraints. No penalty disclosed yet, but compliance risk remains under SEBI LODR.