AUDROC Ltd

Alka India Limited was initially incorporated on November 30, 1993 as 'Alka Sales Private Limited' with the Registrar of Companies, Gujarat. Subsequently, the name was changed to Alka Spinners Private Limited on April 21, 1994 and again to Alka Spinners Limited on September 21, 1994. Later, it changed to Alka India Limited in 2001-02. The Company was initially engaged in the textile manufacturing and trading sector, with operations spanning cotton, yarn, fabrics, and allied import-export activities in yarns, rayon, fibers, and cotton textiles. However, the Financial Year 2024-25 marked a turning point in its corporate journey. Following the initiation of the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 in December 2023, the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench, approved the Resolution Plan on February 7, 2025. This led to a comprehensive restructuring of the Company's capital and governance framework, including the extinguishment of the erstwhile promoters' shareholding, reconstitution of public shareholding to 5% of the post-restructured capital, and allotment of fresh equity shares to new promoters and public shareholders. Given the late-stage implementation of the Resolution Plan during the financial year, the Company's performance for FY 2024-25 was primarily characterized by effort on debt restructuring and operational realignment. In line with the strategic vision of the new management, a proposal for diversification was placed before the shareholders at the Annual General Meeting held on March 23, 2026, seeking alteration of the Object Clause of the Memorandum of Association (MOA). Pursuant to the shareholders' approval, the Board of Directors duly amended the Object Clause, enabling the Company to venture into new business domains. Consequently, the Company has initiated its operations in the agro commodities sector, marking a strategic shift from its legacy textile business to a more diversi?ied and growth-oriented business model. Further, the Company has undergone a Corporate Insolvency Resolution Process (CIRP) and has been approved by the Committee of Creditors and subsequently by the Hon'ble NCLT, Mumbai Bench dated February 7, 2025, making Mr. Jatinbhai Ramanbhai Patel as the new Promoter of the Company in 2025.