Alps Industries Limited has revised the record date to January 2, 2026, for implementing capital reduction and consolidation under its NCLT-approved resolution plan. The updated announcement, made on December 19, 2025, changes the previously set record date of December 19, 2025, as the company continues its comprehensive restructuring process.

Updated Record Date Declaration

The company has fixed the new record date for corporate actions under Regulation 42 of SEBI LODR Regulations. The restructuring involves a significant 99% reduction in equity share capital followed by consolidation of shares.

Capital Reduction Structure

The existing subscribed and paid-up equity share capital comprises 3,91,14,100 equity shares with a face value of ₹10.00 each, aggregating to ₹39,11,41,000. Post-reduction, the same number of shares will have a face value of ₹0.10 each, aggregating to ₹39,11,410.

Share Consolidation Process

Following the capital reduction, the company will consolidate shares where 10 equity shares of face value ₹0.10 each will be consolidated into 1 equity share of face value ₹1.00 each. This consolidation will result in 39,11,410 equity shares outstanding.

Resolution Plan Implementation

All actions are being implemented pursuant to the resolution plan approved by NCLT Prayagraj. The comprehensive restructuring includes various corporate actions as part of the court-approved resolution plan, with the company ensuring compliance with applicable provisions of the Companies Act, 2013, SEBI LODR Regulations, 2015, and other relevant laws and regulations throughout the restructuring process.

Alps Industries Limited , a textile manufacturing company, has undergone a significant board restructuring as part of its corporate insolvency resolution process. The company has appointed four new directors effective December 1, 2025, following the implementation of a resolution plan approved by the National Company Law Tribunal (NCLT).

New Board Appointments

The company has made the following key appointments to its board:

These appointments are subject to shareholder approval at the ensuing General Meeting, as per Sub-regulation (1C) of Regulation 17 of SEBI LODR Regulations.

Outgoing Directors

Pursuant to the NCLT order dated November 4, 2025, six existing directors, including Managing Director Sandeep Agarwal, have ceased to hold office. The complete list of outgoing directors is as follows:

This complete board overhaul marks a significant change in the company's leadership structure as part of its resolution process.

Financial Context

While the company undergoes this significant restructuring, it's important to note the challenging financial position reflected in its recent balance sheet data:

The negative total equity and the significant increase in current assets and liabilities highlight the financial challenges the company faces, underscoring the importance of the resolution plan and board restructuring.

The appointment of new directors, particularly those with expertise in finance and stock markets like Sandhya Kohli, may be aimed at steering the company through its current financial difficulties and implementing a turnaround strategy.

As Alps Industries Limited embarks on this new phase under fresh leadership, stakeholders will be keenly watching how the new board addresses the company's financial challenges and implements the NCLT-approved resolution plan.