The Annual Secretarial Compliance Report for the FY 2024-25 has been attached herewith.
Awaiting price reaction for this filing.
KDJ Holidayscapes & Resorts Limited has filed its Annual Secretarial Compliance Report for FY 2024-25, covering a pivotal period in which the company exited its long-running Corporate Insolvency Resolution Process (CIRP) on March 4, 2025, after the NCLT approved the Resolution Plan submitted by Mr. Ravikumar Gaurishanker Patel, which had received 100% approval from the Committee of Creditors. The CIRP, admitted in September 2019, saw powers of the Board suspended and vested with Resolution Professionals, first Mr. Pradeep V. Samant and later Mr. Snehal Kamdar, with Omkara Asset Reconstruction as the sole financial creditor. A new Board was reconstituted on March 28, 2025, and KMPs were appointed in April-June 2025 under the approved plan. The Practicing Company Secretary flagged numerous non-compliances accrued during the CIRP period, including delays in filing investor complaints, related party disclosures, shareholding patterns, quarterly financial results, corporate governance reports, and non-filing of the FY 2023-24 Annual Report and its secretarial compliance report, though no fines have been levied by SEBI or BSE. Importantly, the approved Resolution Plan extinguishes all past liabilities, penalties, and fines of the corporate debtor, and the new management is not liable for pre-approval non-compliances.
This filing marks a significant milestone - the company has emerged from a nearly six-year insolvency process with a new management and a court-approved revival plan, but the stock remains under BSE trading suspension that must be revoked before normal trading can resume. Existing shareholders should note that prior-period non-compliances are legally extinguished under the Resolution Plan, and the focus now shifts to the new management's ability to regularize operations and compliance.