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NCLT Approves JSW Infrastructure's Resolution Plan for Arshiya's Rail Subsidiary
The NCLT Mumbai Bench has approved the resolution plan submitted by JSW Infrastructure Limited for NCR Rail Infrastructure Limited, a wholly-owned subsidiary of Arshiya Limited. The subsidiary, which was under the Corporate Insolvency Resolution Process (CIRP), reported a revenue of ₹1009.56 Lakhs and a significantly negative net worth of ₹2,14,273.05 Lakhs. This development marks a critical step in the restructuring of Arshiya Limited's assets, although the parent company itself remains under CIRP. The implementation of the plan by JSW Infrastructure is currently in progress.
Key Highlights
NCLT Mumbai Bench-II approved the Resolution Plan for NCR Rail Infrastructure Limited under Section 31 of IBC.
JSW Infrastructure Limited has been named the successful resolution applicant for the wholly-owned subsidiary.
The subsidiary reported a revenue of ₹1009.56 Lakhs and a negative net worth of ₹2,14,273.05 Lakhs in the last financial year.
Arshiya Limited, the parent company, continues to remain under the Corporate Insolvency Resolution Process (CIRP).
💼 Action for Investors
Investors should exercise extreme caution as the parent company is still under insolvency; while the subsidiary resolution is a progress marker, it does not guarantee recovery for Arshiya Limited shareholders.
Arshiya Ltd Delays Q3 FY26 Results Due to CIRP and 70% Employee Attrition
Arshiya Limited has reported a delay in submitting its standalone and consolidated financial results for the quarter ended December 31, 2025. The company is currently undergoing a Corporate Insolvency Resolution Process (CIRP) following an NCLT order dated April 23, 2024. Management cited severe operational disruptions, including the resignation of 50 out of 71 employees (approximately 70%) without notice periods. Additionally, the insolvency of its subsidiary, Arshiya Northern FTWZ Limited, has further complicated the consolidation of financial data.
Key Highlights
Company is under Corporate Insolvency Resolution Process (CIRP) since April 23, 2024.
Massive attrition reported with 50 out of 71 employees resigning between July 30 and August 2, 2024.
Logistical challenges cited following the relocation of the registered office in April 2024.
Consolidation delayed due to the ongoing insolvency process of subsidiary Arshiya Northern FTWZ Limited.
Powers of the Board remain suspended and are exercised by the Resolution Professional, Pankaj Mahajan.
💼 Action for Investors
Investors should remain extremely cautious as the company is in insolvency and failing to meet regulatory reporting timelines. The lack of financial transparency and high employee turnover indicate significant operational distress.
Arshiya Ltd 13th COC Meeting: Resolution Plan Deadline Extended to March 15, 2026
Arshiya Limited, currently undergoing the Corporate Insolvency Resolution Process (CIRP), held its 13th Committee of Creditors (COC) meeting on February 10, 2026. The COC has decided to extend the deadline for the submission of resolution plans to March 15, 2026, providing additional time for potential bidders. The meeting also addressed the approval of CIRP costs and discussions regarding the removal of charges on the Khurja Land in compliance with an NCLAT order. This process is critical for determining the company's future viability and debt restructuring outcomes.
Key Highlights
13th Committee of Creditors (COC) meeting concluded on February 10, 2026.
Deadline for submission of resolution plans extended to March 15, 2026.
Discussion initiated to remove charges over Khurja Land following an NCLAT order.
Approval of CIRP costs and general updates on the insolvency process provided by the Resolution Professional.
💼 Action for Investors
Investors should exercise extreme caution as the company is in insolvency; the outcome of the resolution plans due by March 15 will determine if there is any residual value for shareholders.
Arshiya Limited to Hold 13th Committee of Creditors Meeting on February 10, 2026
Arshiya Limited, which is currently undergoing the Corporate Insolvency Resolution Process (CIRP), has scheduled its 13th Committee of Creditors (COC) meeting for February 10, 2026. This meeting is a critical step in the insolvency proceedings as the COC deliberates on the company's future and potential resolution plans. The company's affairs are currently managed by Resolution Professional Pankaj Mahajan. Investors should be aware that insolvency proceedings typically involve high risks for equity shareholders.
Key Highlights
13th meeting of the Committee of Creditors (COC) scheduled for February 10, 2026.
Company is currently under the Corporate Insolvency Resolution Process (CIRP).
Pankaj Mahajan is serving as the Resolution Professional (RP) overseeing the process.
The meeting is conducted in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.
💼 Action for Investors
Investors should remain extremely cautious as equity value in companies under CIRP is often significantly impaired or wiped out. Monitor for any updates regarding the approval of a resolution plan or liquidation orders from the NCLT.
Arshiya Ltd Admits Over ₹6,627 Crore in Claims Under Insolvency Process
Arshiya Limited, currently undergoing Corporate Insolvency Resolution Process (CIRP), has disclosed an updated list of creditors. The Resolution Professional has admitted secured financial claims of approximately ₹2,566 crore and unsecured financial claims totaling about ₹4,061 crore. Edelweiss Asset Reconstruction Company emerges as the dominant creditor with a combined voting share of nearly 79%. The massive debt burden and ongoing insolvency proceedings indicate a high risk of equity wipe-out or significant dilution for existing shareholders.
Key Highlights
Total admitted secured financial claims amount to ₹2,566.06 crore.
Total admitted unsecured financial claims stand at ₹4,061.64 crore.
Edelweiss Asset Reconstruction Company holds a dominant 78.99% combined voting share in the CoC.
Operational claims from employees and government dues totaling approximately ₹11.92 crore have been admitted.
The company has been under the Corporate Insolvency Resolution Process since April 23, 2024.
💼 Action for Investors
Investors should be extremely cautious as insolvency proceedings typically prioritize creditors over equity shareholders, often leading to delisting or total loss of equity value. Avoid fresh exposure until a clear resolution plan is approved by the NCLT.
Arshiya Ltd Reports Non-Compliance with SEBI Insider Trading Regulations for Q3 FY26
Arshiya Limited, currently under Corporate Insolvency Resolution Process (CIRP), has failed to maintain a mandatory Structured Digital Database (SDD) as per SEBI Insider Trading regulations. A compliance certificate issued by a Practicing Company Secretary confirms that the company has no system to track Unpublished Price Sensitive Information (UPSI). During the quarter ended December 31, 2025, the company failed to record 5 specific events that were required to be captured. This regulatory breach highlights significant internal control failures during the ongoing insolvency proceedings.
Key Highlights
Company failed to maintain a Structured Digital Database (SDD) for the quarter and nine months ended December 31, 2025
Total of 5 events involving Unpublished Price Sensitive Information (UPSI) were not recorded as required
No control mechanism or audit trail exists to monitor who accesses sensitive company information
The company has been under Corporate Insolvency Resolution Process (CIRP) since April 23, 2024
Practicing Company Secretary issued a formal Non-Compliance Certificate citing breach of SEBI (PIT) Regulations
💼 Action for Investors
Investors should exercise extreme caution as the company is in insolvency and facing serious regulatory lapses regarding insider trading controls. The lack of compliance adds significant risk to any potential recovery for equity shareholders.
Arshiya Ltd Concludes 12th CoC Meeting; Discusses CIRP Extension and Plan Submission
Arshiya Limited, which is currently undergoing the Corporate Insolvency Resolution Process (CIRP), held its 12th Committee of Creditors (CoC) meeting on January 9, 2026. The Resolution Professional provided updates on creditor claims and discussed the necessity of extending the CIRP period and the deadline for resolution plan submissions. The meeting also reviewed the company's operations and the Statutory Auditor's Report for the 2024-25 financial year. The ongoing insolvency proceedings highlight significant financial instability and risk for existing equity holders.
Key Highlights
12th meeting of the Committee of Creditors (CoC) was successfully convened on January 9, 2026.
Discussions included the extension of the CIRP period and the final date for submitting resolution plans.
The Resolution Professional appraised the CoC on the current status of creditor claims and company operations.
The CoC reviewed the Statutory Auditors Report and Financial Statements for the 2024-25 fiscal year.
💼 Action for Investors
Existing investors should remain extremely cautious as equity value is typically significantly diluted or eliminated during insolvency resolutions. Monitor future disclosures regarding the approval of any resolution plans and the identity of potential bidders.
Arshiya Ltd to Hold 12th Committee of Creditors Meeting on Jan 9, 2026
Arshiya Limited, which is currently undergoing the Corporate Insolvency Resolution Process (CIRP), has scheduled its 12th Committee of Creditors (COC) meeting for January 9, 2026. The company is being managed by Resolution Professional Pankaj Mahajan as per the Insolvency and Bankruptcy Code. This meeting is a critical part of the ongoing restructuring process to determine the company's future. Investors should be aware that the equity value in such cases is highly vulnerable to significant dilution or total loss.
Key Highlights
12th Committee of Creditors (COC) meeting scheduled for January 9, 2026
Company is currently under Corporate Insolvency Resolution Process (CIRP)
Pankaj Mahajan is the appointed Resolution Professional (IBBI/IPA-001/IP-P00836/2017-2018/11420)
Disclosure made under Regulation 30 of SEBI (LODR) Regulations, 2015
💼 Action for Investors
Investors should exercise extreme caution as insolvency proceedings typically prioritize creditors over equity shareholders. It is advisable to monitor the outcome of COC meetings for any updates on resolution plans or potential liquidation.