Summary of Key Information:
The company cannot submit Un-Audited Standalone & Consolidated Financial Results for the quarter ended June 30, 2026 due to:
- The Company is undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code 2016, pursuant to the Order of the Hon'ble National Company Law Tribunal Mumbai dated April 23, 2024
- Mr. Pankaj Mahajan, Resolution Professional (IBBI/IPA-001/IP-P00836/2017-2018/11420), is appointed and the powers of the Board of Directors remain suspended for the duration of the CIRP
- Relocation of the registered office from Mumbai to Raigad involved movement of all records and corporate staff, resulting in significant logistical challenges
- Between July 30 and August 2, 2024, 50 out of 71 employees tendered resignations without serving requisite notice period or completing formal handovers
- The ongoing process of data collection by the Resolution Professional is incomplete as he is gathering necessary financial information and supporting documentation
- Arshiya Limited is the holding company of Arshiya Northern FTWZ Limited, which is also undergoing CIRP, causing challenges in collecting requisite financial data from multiple subsidiaries
Compliance Update:
No further compliance update disclosed. The Resolution Professional is working diligently to compile the required data, and the company states that financial statements will be submitted without further delay once information is consolidated, but no specific timeline is provided.