Submission of Annual Secretarial Compliance Report for the financial year ended 31 March 2025.
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Awaiting price reaction for this filing.
Vikas WSP Limited has submitted its Annual Secretarial Compliance Report (revised on 26 July 2025) for FY ended 31 March 2025. The company remains under Corporate Insolvency Resolution Process (CIRP) since 2 February 2022, with Mr. Darshan Singh Anand as Resolution Professional. A resolution plan submitted by Arcbolt Space and Foods Pvt Ltd was approved by the Committee of Creditors with 100% voting share in August 2022, but is still pending NCLT approval (next hearing 25 August 2025). The report flags several compliance failures: delayed filing of quarterly financial results, the 36th AGM (FY 2023-24) not yet held, Annual Report for FY 2023-24 not filed, SDD not installed under Insider Trading rules, directors not filing DIR-3 KYC, and non-submission of promoter declarations under SAST Regulations. BSE levied penalties totalling roughly Rs 3.02 lakh (Rs 1.53 lakh for delayed results, Rs 1.45 lakh for non-holding of board meeting, Rs 4,000 for late ASCR filing), none of which have been paid due to financial stress.
Reinforces the picture of a deeply distressed company in prolonged insolvency, with weak governance, unpaid exchange penalties, and no business operations. Shareholders remain in limbo until the NCLT approves the resolution plan, which is the only meaningful trigger for value recovery.