Disclosure of the Reasons for the Delay in Filing the Audited Financial Results for the Fourth Quarter and Financial Year Ended March 31, 2026.
ARSHIYA · price
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Arshiya Ltd, which is under Corporate Insolvency Resolution Process (CIRP) following an NCLT Mumbai order dated April 23, 2024, has failed to submit its Q4 and FY 2026 audited financial results. The company cites multiple reasons: the ongoing CIRP has suspended board powers, which are now exercised by Resolution Professional Pankaj Mahajan. Additionally, the registered office relocation combined with a mass exodus of employees (50 out of 71 staff resigned without notice between July 30 and August 2, 2024) disrupted operations. The delay is also attributed to ongoing data collection by the Resolution Professional and challenges in obtaining financials from subsidiary Arshiya Northern FTWZ Limited, which is also under CIRP.
This filing confirms the company remains in financial distress with governance challenges, and shareholders should brace for continued delays and uncertainty until the insolvency process concludes. The stock may face continued volatility or trading restrictions.