Ajwa Projects Private Limited reports 1,382-day payment delays

Ajwa Projects Private Limited disclosed past statutory-payment delays of as much as 1,382 days and Registrar of Companies, or ROC, filing delays of as much as 474 days. Ajwa Projects said applicable interest on delayed statutory dues had been paid, no such dues were outstanding at the prospectus date, and every listed corporate form had been filed.

How extensive were Ajwa Projects’ statutory-payment delays?

Ajwa Projects reported delayed goods and services tax, or GST, returns and deposits, tax deducted at source, or TDS, provident fund, professional tax and Employees’ State Insurance Corporation, or ESIC, payments, with the highest disclosed delay of 1,382 days in FY 2024-25. The 1,382-day delay appeared for provident fund at Site 1 and Site 7, and for ESIC at Site 1.

The record changed across the periods disclosed, with maximum TDS delays falling from 1,295 days in FY 2023-24 to 638 days in FY 2024-25, 120 days in FY 2025-26 and 73 days in Q1 FY 2026-27. This comparison shows that the longest reported TDS delays shortened, although delayed TDS entries continued through Q1 FY 2026-27.

Ajwa Projects’ GST entries included a 161-day delay in Gujarat and a 126-day delay in Maharashtra in FY 2023-24, followed by a 119-day Gujarat delay in FY 2024-25. No GST delay was shown in the table for FY 2025-26 or Q1 FY 2026-27, but the company said it could not assure that non-compliance would not recur.

Which dues produced the longest payment delays?

Ajwa Projects’ most prolonged payment delays were site-level provident fund and ESIC items in FY 2024-25, while professional tax at its head office was delayed by up to 1,234 days. The provident fund entries delayed by 1,382 days involved Rs 11,000 at Site 1 and Rs 19,000 at Site 7; the ESIC entry delayed by 1,382 days involved Rs 21,000 at Site 1.

The delays extended across categories and locations rather than one payment type alone. Head-office professional tax was delayed by 1,124 days in FY 2023-24 and 1,234 days in FY 2024-25, before declining to 145 days in FY 2025-26 and 33 days in Q1 FY 2026-27. At Site 1, professional-tax delays declined from 262 days in FY 2023-24 to 39 days in FY 2025-26.

Ajwa Projects still recorded several shorter provident fund and ESIC delays in FY 2025-26. Provident fund at Site 2 was delayed by 62 days, while ESIC delays ranged from six days at Site 1 to 30 days at Site 3; these compare with FY 2024-25 ESIC delays of 606 days at Site 3 and 624 days at Site 7. The more recent figures therefore indicate shorter reported maxima, not an absence of all late payments.

How late were Ajwa Projects’ ROC filings?

Ajwa Projects disclosed 26 delayed ROC filings, with the longest being a 474-day delay for Form 23B. The Form 23B event was dated March 14, 2011, was due for filing on April 13, 2011 and was filed on July 31, 2012.

The next-longest delays were 416 days for Form 23AC and 388 days for Form 20B, each related to September 2011 events and filed on December 21, 2012. The disclosure spans events from March 2011 through August 2025, meaning the filing record covers both earlier and more recent periods.

Ajwa Projects also listed a 162-day delay for Form DPT-3 filed in February 2022, a 146-day delay for Form CHG-1 filed in November 2017, and the two 165-day delays filed in October 2025. The 2025 filings show that the disclosed filing delays were not limited to the 2011-12 period.

Ajwa Projects said all listed forms had since been filed and additional filing fees were paid where required. It also said no penalties had been levied, no listed instance had resulted in compounding or adjudication proceedings, and a practising company secretary certified on October 9, 2025 that all forms were filed and no compounding or adjudication was required.

What steps has Ajwa Projects taken to address compliance?

Ajwa Projects said it strengthened its compliance framework through a full-time qualified company secretary for ROC compliance, due-date alerts, periodic internal reviews and standardised filing processes. For statutory payments, Ajwa Projects said it engaged a full-time qualified chief financial officer, or CFO, and was improving administration.

Ajwa Projects said it had paid applicable interest on delayed statutory dues and that no such dues were outstanding as of the prospectus date. The company also said no action had been initiated against it in relation to the payment delays listed in the prospectus.

The controls are intended to address filing and payment timing, but their effectiveness depends on the procedures preventing further delays across the company’s sites and head office. Ajwa Projects specifically stated that future lapses could lead to monetary penalties, additional fees or punitive action against the company, its directors or officers.

Conclusion

Ajwa Projects’ disclosures show a record of delayed statutory payments and corporate filings across several years. The maximum statutory-payment delay was 1,382 days in FY 2024-25, while the maximum ROC delay was 474 days for a 2011 event; recent figures generally show lower maximum payment delays but also include FY 2025 filing delays.

What to watch next is whether Ajwa Projects’ disclosed plan of due-date alerts, internal reviews, standardised processes and full-time compliance personnel prevents further late deposits and filings. The company has settled the disclosed dues and filings, but it has left open the possibility of future non-compliance and regulatory action.