Asian Hotels (West) Limited — Results, 28-11-2024: Reply to Clarification- Financial results

Asian Hotels (West) Limited has provided an update regarding its financial results and ongoing compliance efforts. The company is currently addressing delays in filing its financial results for the fiscal years ending March 31, 2021, and March 31, 2022. Share trading is suspended due to management issues following the death of its managing promoter in October 2021 and subsequent Corporate Insolvency Resolution Process (CIRP). The company successfully exited the CIRP in January 2024 and is now working to finalize financial statements.

Due to the complexities arising during this period, including a lack of quarterly financials from its subsidiary, the company has been granted until October 31, 2024, to complete its compliance related to quarterly results. A request for exemption from providing historical quarterly figures was accepted by the Delisting Committee, contingent on future submissions once the data is compiled.

Investors should be aware of the ongoing challenges the company faces but also its commitment to meet compliance deadlines. Given the current uncertainties surrounding financial disclosures and management stability, the sentiment may lean towards caution.