Arshiya Limited has informed the Exchange regarding Proceedings of 43th Annual General Meeting for the Financial Year 2023-2024, held on March 27, 2026.
ARSHIYA · price
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Arshiya Limited held its 43rd Annual General Meeting on March 27, 2026, via video conferencing, chaired by Resolution Professional Mr. Pankaj Mahajan since the company is under Corporate Insolvency Resolution Process (CIRP) from April 23, 2024. Three items were on the agenda: adoption of audited standalone financial statements for FY ending March 31, 2024, noting non-preparation of consolidated financial statements (because subsidiaries are also under CIRP and didn't provide data), and noting that director rotation by retirement does not apply as the Board is suspended under Section 17 of the IBC. Shareholders raised queries about the CIRP timeline, reduction in freehold land valuation in the balance sheet, and the status of investments and subsidiaries, which were addressed or noted for follow-up. The meeting concluded at 12:53 PM, with voting results to be shared with BSE and NSE within two working days.
No major new business decisions were taken; this was a procedural AGM held under insolvency. The continued non-preparation of consolidated accounts and unresolved shareholder queries on land value and subsidiary status highlight ongoing operational stress, which is relevant for investors tracking the CIRP resolution process.