SUBMISSION OF ANNUAL SECRETARIAL COMPLIANCE REPORT FOR THE YEAR ENDED ON MARCH 31, 2025
Awaiting price reaction for this filing.
Alps Industries Ltd has submitted its Annual Secretarial Compliance Report for the year ended March 31, 2025, certified by Umesh Kumar & Associates, a peer-reviewed practicing company secretary. The report covers compliance with SEBI Act, SCRA, and key SEBI regulations including LODR, Insider Trading, and Takeover Regulations. The auditor confirmed compliance on most fronts — secretarial standards, board policies, website disclosures, insider trading rules, and related party transactions. One notable observation: the promoters are under the Corporate Insolvency Resolution Process (CIRP) due to NCLT orders dated March 1, 2023, and their demat accounts have been frozen on both BSE and NSE under Listing Regulations. A prior instance of delayed filing of the investor grievance report for Q1 FY24 was resolved with a fine of Rs. 21,240 paid in August 2023. No new non-compliances or SEBI/exchange actions were noted during the review period.
This is a routine annual compliance filing, but it highlights serious ongoing issues — the company is under CIRP with frozen promoter demat accounts, signalling deep financial/legal distress. Shareholders should be cautious as CIRP status and frozen promoter holdings are negative indicators for the stock and governance outlook.