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Alps Industries Ltd is undergoing Corporate Insolvency Resolution Process (CIRP) after secured lenders revoked prior debt restructuring consent and initiated insolvency proceedings. Edelweiss Assets Reconstruction Company holds over 99% of secured debt and has auctioned some assets to recover dues. Resolution plans have been received and await Committee of Creditors’ approval before NCLT sanction. The company’s financials reflect a substantial loss and liabilities due to unprovided interest and part of loan waived earlier totaling Rs. 21,291.73 Cr. Despite financial stress, management maintains going concern status, expecting revised settlement approval to restore obligations.