Date: June 17, 2026
KMP / Board / Auditor Changes
Not Specified
Dividend Declaration or Non-Declaration
Not Specified
Board Meeting Outcomes
The Resolution Professional, Mr. Pankaj Mahajan, considered, approved and took on record on April 28, 2026, the Audited Standalone Financial Results of the Company for the quarter and Financial Year ended on March 31, 2025, along with the Audit Report, in compliance with regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Financial Results (Standalone)
The document provides the following financial figures for the financial year ended March 31, 2025:
- Turnover/Total Income: ₹1494.85 lakhs
- Total Expenditure: ₹4957.90 lakhs
- Net Profit/(Loss): ₹(109446.03) lakhs [₹1094.46 crores]
- Earnings Per Share: ₹(41.54)
- Total Assets: ₹144369.94 lakhs [₹1443.70 crores]
- Total Liabilities: ₹288400.06 lakhs [₹2884.00 crores]
- Net Worth: ₹(144030.12) lakhs [₹(1440.30) crores]
Disinvestment / Strategic Actions
Not Specified
Other Operational / Legal / Strategic Disclosures
- The Company is undergoing Corporate Insolvency Resolution Process (CIRP) since April 23, 2024, pursuant to order of Hon'ble National Company Law Tribunal, Mumbai Bench (Order No. (IB)3143/MB/2019)
- Powers of Board of Directors stand suspended and are vested with the Resolution Professional, Mr. Pankaj Mahajan, in accordance with Section 17 of IBC
- The CIRP was initiated by Punjab National Bank (PNB) under Section 7 of IBC for corporate guarantee provided to PNB for loan availed by subsidiary Arshiya Northern FTWZ Limited
- The Statement on Impact of Audit Qualifications was delayed due to CIRP constraints requiring consultation with accounts team and officials
- The Resolution Professional maintains that pre-CIRP receivables cannot be written off during CIRP without actual recovery of dues
- Several matters are sub-judice and referred to legal counsels