Promoters of Arshiya Limited have confirmed that they have not created any encumbrance on the company's equity shares during the financial year 2025-2026. This declaration was submitted by Ajay S Mittal on behalf of all promoters and persons acting in concert, pursuant to Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The disclosure, dated April 7, 2026, states that no new encumbrances have been created directly or indirectly, other than those already disclosed during the financial years 2024-2025 and 2025-2026. Arshiya Limited is currently under the Corporate Insolvency Resolution Process (CIRP).

Key Disclosure Details

The letter was addressed to Pankaj Mahajan, the Resolution Professional for Arshiya Limited. Ajay S Mittal signed the declaration as a Promoter, noting his status as a member of the suspended Board of Directors.

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.

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