Arshiya Limited delays Q4FY26 results citing insolvency process

Arshiya Limited has failed to submit its audited standalone and consolidated financial results for the fourth quarter and financial year ended March 31, 2026, citing the ongoing Corporate Insolvency Resolution Process (CIRP) and operational disruptions. The company is under CIRP pursuant to an order by the National Company Law Tribunal (NCLT), Mumbai, dated April 23, 2024, which suspended the powers of the Board of Directors. Pankaj Mahajan has been appointed as the Resolution Professional to manage the company's functions during this period.

The delay in filing is also linked to logistical challenges following the relocation of the registered office to Arshiya FTWZ in Panvel on April 29, 2024. This move involved shifting all records and corporate staff. Operations were further disrupted between July 30 and August 2, 2024, when 50 out of 71 employees resigned without serving notice periods or completing handovers. This attrition materially impacted the timely finalization of financial accounts.

Data Collection and Subsidiary Delays

The non-submission of financial statements is primarily due to the extensive data collection process required by the Resolution Professional. Mahajan is gathering necessary financial information and documentation to ensure compliance with regulatory requirements. The company stated that financial statements will be submitted immediately once the data consolidation is complete.

Additionally, Arshiya Limited is the holding company of Arshiya Northern FTWZ Limited (ANFL), which is also undergoing CIRP. The Resolution Professionals are facing challenges in collecting and consolidating financial data from ANFL and other multiple subsidiaries. This lack of requisite financial data from subsidiaries has further contributed to the delay in preparing the consolidated financial statements.

Regulatory Reference

The disclosure was made pursuant to Securities and Exchange Board of India (SEBI) Regulation 33 read with the SEBI Master Circular SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The company confirmed it is making every effort to submit the audited results at the earliest.

Detail	Information
Period	Q4 and Financial Year ended March 31, 2026
Regulation	SEBI Regulation 33
CIRP Order Date	April 23, 2024
Resolution Professional	Pankaj Mahajan
Registered Office	Arshiya FTWZ, CO-1, Survey Nos. 178/3 & 178/4, At Post - Sai Village, Taluka - Panvel, District – Raigad, Pin Code – 410 221

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE968D01022/909033b32af84d70.pdf

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
0.0%	-3.64%	-12.40%	-18.46%	-57.43%	-95.78%

Arshiya Limited has announced the appointment of M/s. Anupam Parashar & Co., Chartered Accountants, as its Internal Auditor for three consecutive financial years. The appointment was made by the company's Resolution Professional as part of ongoing compliance requirements during the Corporate Insolvency Resolution Process.

Appointment Details

The Resolution Professional of the Company, Mr. Pankaj Mahajan, appointed M/s. Anupam Parashar & Co., Chartered Accountants (FRN: 023779C), as the Internal Auditor on February 25, 2026. The appointment covers three distinct periods:

Financial Year	Status	Purpose
2023-24	Appointment	Initial appointment for internal audit services
2024-25	Re-appointment	Continuation of internal audit services
2025-26	Re-appointment	Extended internal audit services

Auditor Profile and Services

M/s. Anupam Parashar & Co. is a comprehensive chartered accountancy firm providing diverse professional services. The firm's office is located at 6/11, Sector 6, Vaishali, Ghaziabad, Uttar Pradesh, 201010.

Service Portfolio:

Audit services
Taxation (Direct & Indirect)
GST compliance
Accounting & Bookkeeping
Company Law matters
Valuation services
Financial Projections
Risk Advisory
Fund Management

The firm serves listed companies, large corporates, foreign entities, and individuals across diverse industries, with a focus on compliance, risk mitigation, and client-centric solutions.

Regulatory Compliance and Authority

The appointment and remuneration were approved by the Resolution Professional in exercise of the powers of the Board of Directors, which presently stand suspended under Sections 17 and 23 of the Insolvency and Bankruptcy Code, 2016. This measure ensures statutory compliance and maintenance of adequate internal financial controls during the Corporate Insolvency Resolution Process period.

The firm will conduct internal audits for each of the specified financial years and submit Individual Internal Audit Reports for the respective years. The appointment details will be placed before the Committee of Creditors in the forthcoming meeting for information and ratification as required.

Corporate Insolvency Resolution Process Status

Arshiya Limited is currently operating under Corporate Insolvency Resolution Process, with Mr. Pankaj Mahajan serving as the Resolution Professional. His IBBI Registration Number is IBBI/IPA-001/IP-P00836/2017-2018/11420, with AFA Details: AA1/11420/02/311226/108808 valid until December 31, 2026.

The company disclosed this information pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency with stock exchanges and stakeholders during the resolution process.