Aksh Optifibre CIRP: NCLT Jaipur Order, Moratorium 2026

The key development and why it matters

Aksh Optifibre Limited has been admitted into the Corporate Insolvency Resolution Process (CIRP) following an order by the National Company Law Tribunal (NCLT), Jaipur Bench. The order was pronounced on June 19, 2026, and it shifts control of the company from the existing management to an Interim Resolution Professional (IRP). A moratorium under Section 14 of the Insolvency and Bankruptcy Code (IBC), 2016 has also been declared.

For shareholders and lenders, CIRP admission is a high-impact legal event because it changes how decisions are taken, restricts certain actions by the company, and moves the focus to a time-bound resolution framework under the IBC.

What the NCLT Jaipur Bench decided

As per the disclosed update, the NCLT Jaipur Bench admitted the insolvency application against Aksh Optifibre under the IBC. With this admission, the CIRP has formally started, and the IRP has been appointed to run the process.

The update also indicates that the admission followed an earlier phase of differing views at the tribunal level. The matter saw a split opinion in a Division Bench, after which a third Member concurred with the view of the Technical Member. The application was then treated as maintainable and referred back to the original Bench for passing appropriate orders according to law.

The creditor claim that triggered CIRP

The CIRP petition was filed by Shantanu Investments Private Limited, described as a financial creditor. The claim cited in the material totals ₹3.33 crore, comprising:

• Principal: ₹2 crore
• Interest: ₹1.05 crore
• Penal interest: ₹0.28 crore

The same set of disclosures also refers to the insolvency proceedings as being initiated due to a ₹2 crore claim plus interest by the applicant.

Moratorium under IBC Section 14: immediate restrictions

With CIRP admission, a moratorium under Section 14 has come into effect. Based on what is stated, the moratorium results in restrictions that include a halt on legal proceedings and asset transfers.

In practical terms, a moratorium typically means the company’s ability to deal with its assets and face fresh enforcement actions is constrained within the IBC framework, while the resolution process proceeds.

Management control shifts to the IRP

A central consequence of CIRP admission is the transfer of management control. The disclosures state that Aksh Optifibre’s control has moved to the IRP, meaning the company’s operations, assets, and liabilities will be managed under the IBC process as it unfolds.

This shift is important for investors because decision-making moves away from the board and senior management and into an insolvency-led governance structure, with processes and disclosures aligned to the resolution timeline.

Another insolvency track: Union Bank of India’s Section 7 filing

Alongside the Jaipur CIRP development, Aksh Optifibre separately informed stock exchanges that it received an advance copy of a Section 7 application filed under the IBC, 2016 by Union Bank of India (UBI).

This Section 7 application, as disclosed, has been filed before the NCLT, New Delhi. The company’s disclosure on this point is limited to acknowledging receipt of the advance copy and identifying the applicant and the forum.

Reference to DRT Jaipur proceedings

The provided material also refers to proceedings before the Debts Recovery Tribunal (DRT), Jaipur, in the Court of the Presiding Officer, Sh. Vimal Gupta. It cites SA No. 202/2025, with “M/s Aksh Optifibre Limited” shown as the applicant through its authorised officer.

The disclosure excerpt does not provide additional detail on claims, amounts, or the relief sought in this DRT reference.

BSNL arbitration update: favourable order, but amounts not disclosed

Separately, Aksh Optifibre disclosed an update under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in its dispute with Bharat Sanchar Nigam Limited (BSNL).

The company stated that the Arbitral Tribunal has allowed its claim for interest on delayed payments relating to supplies made during 2018-19. The order also recognised “balance outstanding dues payable to the Company.” However, the text does not mention the amount of dues, the interest rate, timelines for payment, or whether further enforcement steps are required.

The company’s legal stance and NCLAT appeal

Aksh Optifibre has stated that it has filed an appeal before the National Company Law Appellate Tribunal (NCLAT) challenging an order that deemed the insolvency application maintainable. The company also said it considers the order to suffer from errors on facts and law and that it is pursuing available legal remedies to safeguard stakeholder interests.

This makes the legal process a two-track situation for observers: the CIRP framework progresses following admission, while the appellate process remains a key monitorable item through exchange filings.

Key facts at a glance

Market snapshot and company background (as provided)

Aksh Optifibre was incorporated in 1986 and is described as manufacturing and selling optical fibre, optical fibre cable, fibre reinforced plastic rods, impregnated glass roving reinforcement, and ophthalmic lens. It also provides e-governance and FTTH services.

The material also lists the following market and return metrics:

Other referenced legal history

The material references an order of the Hon’ble High Court of Rajasthan in Civil Writ Petition No. 12422 of 2019, “Aksh Optifibre Ltd. v. Securities and Exchange Board of India,” dated Apr 07, 2021. It also references SAT Appeal Nos. 534/2019, 535/2019, and 536/2019 dated Jun 28, 2019.

Separately, a table excerpt lists NCLT-related entries including “In the matter of Aksh Optifibre Ltd. CP No. (IB) 94-9-JPR-2021” marked Withdrawn on 02 Mar, 2022.

What investors should track next

The disclosures suggest multiple legal and cash-flow related developments are active at the same time: CIRP admission in Jaipur with IRP control and moratorium, a Section 7 filing reference involving UBI at NCLT New Delhi, and a favourable arbitral finding in the BSNL matter without quantified numbers.

Near-term monitoring points are the release of the written NCLT order, subsequent IRP communications, and exchange updates on the NCLAT appeal and any next procedural milestones under the IBC.

Conclusion

Aksh Optifibre’s admission into CIRP by the NCLT Jaipur Bench on June 19, 2026 has triggered a moratorium and shifted management control to an IRP, following a creditor claim of ₹3.33 crore. Parallel legal disclosures, including a UBI Section 7 filing reference and a BSNL arbitration update, add complexity that investors are likely to track through future stock exchange filings and tribunal orders.