Ashiana Ispat Ltd — Important, 06-12-2025: Company Update

Ashiana Ispat will hold an Annual General Meeting (AGM) to seek shareholder approval for crucial past actions. The company is seeking post-facto ratification for the sale of substantial assets—land, building, plant & machinery—for ₹43.10 Cr. This sale was made to meet urgent One Time Settlement (OTS) terms with lending banks after loan accounts became Non-Performing Assets due to severe financial distress. Shareholders will also ratify non-compliance with disclosure and procedural norms, which occurred due to extreme time constraints and limited resources during this period. The AGM agenda also includes adopting financial results and director appointments.