Reg,24(A)-Annual Secretarial Compliance Report
Awaiting price reaction for this filing.
The company filed its Annual Secretarial Compliance Report for FY ending March 31, 2025, revealing extensive non-compliance with SEBI listing regulations. Ashapura Intimates Fashion has been under liquidation since October 5, 2020, following an NCLT order under Section 33 of the Insolvency and Bankruptcy Code, 2016, with Mr. Bhavesh Rathod appointed as the Liquidator. The report states that the Board of Directors has ceased to exist, promoters are absconding, and no qualified company secretary or compliance officer has been appointed. Major non-compliances include unpaid listing fees since FY 2018-19, no financial results filed since December 2018, no annual reports, no AGMs held, no board meetings conducted, and no secretarial audits carried out since March 2019. Trading in the stock is already suspended on BSE and NSE due to penal reasons, and the Liquidator has been submitting filings only on the basis of the last available data.
The stock remains suspended from trading on both BSE and NSE, with arrears in listing fees and no financials filed for over six years — existing shareholders face a very high risk of total loss as the liquidation process drags on with no functioning board or management.