Please find attached herewith Annual Secretarial Compliance Report of the Company for the financial year ended 31st March, 2024, issued by M/s Loveneet Handa and Associates, Practicing ....
ARSHIYA · price
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Arshiya Limited has submitted its Annual Secretarial Compliance Report for the financial year ended March 31, 2024, prepared by Loveneet Handa & Associates as required under SEBI's listing rules. The company is currently under the Corporate Insolvency Resolution Process (CIRP) after Punjab National Bank, its financial creditor, filed for recovery of an alleged default of about Rs. 193.24 crore. The NCLT Mumbai admitted the insolvency case on April 23, 2024, and Pankaj Mahajan was appointed as the Resolution Professional. The secretarial auditor flagged several compliance gaps, mainly for the last quarter of FY24, including non-updation of the company website, non-filing of the annual corporate governance report, inability to identify material subsidiaries, and inability to verify the insider trading database.
The filing itself is a routine regulatory disclosure, but the underlying CIRP status means shareholders continue to face uncertainty about recovery and the future ownership of the company. The noted compliance lapses are largely attributed to the insolvency transition, so they are unlikely to trigger additional penalties but highlight governance stress during the resolution period.