Dear Sir/Madam, We enclosed in terms of SEBI Circular No. CIR/CFD/CMD1/27/2019 dated February 8, 2019, the Annual Secretarial Compliance Report of ARSS Infrastructure Projects Limited ....
Awaiting price reaction for this filing.
ARSS Infrastructure Projects, currently under Corporate Insolvency Resolution Process (CIRP), submitted its Annual Secretarial Compliance Report for FY25 to the exchanges. The Practicing Company Secretary certified overall compliance with SEBI regulations, except for a delayed filing of annual financial statements beyond the 60-day deadline. The delay was caused by the accidental death of the statutory auditor and the subsequent auditor's peer review certificate expiring before it could be renewed, leading to a stock exchange penalty of Rs. 1,71,100, which was later waived on the company's request. During CIRP, the Board is suspended, meetings are conducted by the Resolution Professional, and related party transactions are approved by the Committee of Creditors under the IBC Code. No SEBI or stock exchange actions were taken against the company during the review period.
For shareholders, the report confirms the company remains under insolvency resolution with a suspended board. The financial filing delays caused by auditor issues are behind the company, and penalties were waived. Investors should note that corporate governance operates under IBC/CIRP framework rather than normal SEBI Board processes, which may affect disclosure dynamics and timelines.