Intimation of 33rd Annual General Meeting Notice. The meeting shall be held on Monday, 29th Day of December 2025 at 12:00 noon via video conferencing
Awaiting price reaction for this filing.
Ashiana Ispat Limited has called its 33rd Annual General Meeting on Monday, December 29, 2025 at 12:00 noon via video conferencing. The agenda includes adoption of FY25 financial statements, reappointment of Mr. Naresh Chand as director, appointment of M/s C Gaur & Associates as Secretarial Auditors for 5 years (FY26–FY30), regularization of Ms. Darshan as director, and appointment of Mr. Kamal Wadhwani and Ms. Pooja Dhiman as Independent Directors for 5-year terms. A critical item is the post-facto approval of the sale of the company's entire undertaking — land, building, plant & machinery at Bhiwadi, Rajasthan — for ₹4,310 lakhs, executed on October 1, 2025, to settle a One Time Settlement (OTS) with State Bank of India after the loans were classified as NPA. The company is also seeking ratification of prior non-compliance with SEBI LODR Regulations 30, 23 and 24, citing severe financial distress.
This is a major negative event for shareholders — the company has effectively sold off its entire operating assets (₹4,310 lakhs) to settle bank NPAs, indicating deep financial distress and likely cessation of core operations. The company is also seeking to ratify past SEBI compliance lapses, signaling weak governance. Shareholders should expect the stock to react negatively and assess the company's ability to continue as a going concern given the asset sale and financial stress disclosures.