Submission of Minutes of 53rd Annual General Meeting of the company as held on 30-09-2025.
Awaiting price reaction for this filing.
Alps Industries filed the minutes of its 53rd AGM held on September 30, 2025 through video conferencing, chaired by Mr. Hemant Sharma, who is the Interim Resolution Professional (IRP) under the IBC — indicating the company remains under the Corporate Insolvency Resolution Process. 50 members attended via VC. Shareholders approved, with overwhelming majorities (~99.8%+ in favour), the adoption of FY25 financial statements, re-appointment of Mr. Sandeep Agarwal as Managing Director (including a fresh 3-year term from April 2026 to March 2029), appointment of M/s Reshi & Associates as Secretarial Auditors for 5 years, and appointment of M/s O. Aggarwal & Co as Statutory Auditors for 4 years. The MD's salary was fixed at Rs. 1,00,000/month with 10% annual increment, governed by Schedule V since the company has no profits and is in default with lenders.
The AGM confirms Alps Industries is still under IBC/CIRP with an IRP-led board, and ordinary resolutions around financials, director re-appointment, and auditors were passed with near-unanimous shareholder support. For retail investors, the Schedule V-based MD remuneration and explicit reference to 'no profit' and 'default in payment to lenders' underscores ongoing financial distress and uncertainty around revival prospects.