Notice of 53rd AGM as ton be held on 30-09-2025 for the FY 2024-25.
Awaiting price reaction for this filing.
Alps Industries Limited has notified its 53rd AGM to be held on September 30, 2025 at 3:00 PM via Video Conference. The AGM will seek shareholder approval to adopt the FY 2024-25 audited accounts, re-appoint Managing Director Mr. Sandeep Agarwal (DIN: 00139439) by rotation, and via special resolution, re-appoint him as MD for three years from April 2026 to March 2029 with a monthly salary of Rs. 1,00,000. The meeting also seeks approval to appoint M/S Reshi & Associates as Secretarial Auditors for five years (Rs. 20,000 p.a.) and confirm the appointment of M/S O. Aggarwal & Co as Statutory Auditors for four years (Rs. 1,00,000 p.a.), replacing prior auditors. The company is currently under the Corporate Insolvency Resolution Process (CIRP) of the IBC, with Mr. Hemant Sharma as the Interim Resolution Professional (IRP), and has reported losses for three consecutive years, including Rs. 6,399 lakh loss in FY24-25 with zero turnover.
Shareholders should note that the company is under insolvency resolution (CIRP/IBC) and has been making losses with no revenue in FY24-25, signalling serious financial distress. The proposed director and auditor appointments require special resolutions. No dividend has been declared for the last seven years, and existing management continuity is being sought despite the company's default on lender payments.