Astron Paper CIRP: NCLT filings and 2026 timeline

Key development at Astron Paper under IBC

Astron Paper & Board Mill Ltd is moving through a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016. The company disclosed that the process began following an order of the National Company Law Tribunal (NCLT), Ahmedabad Bench, Court-II, with the order date stated as May 11, 2026. Since then, the company has continued to make statutory disclosures to the stock exchanges while the insolvency process runs in parallel. The latest set of updates includes filings on committee of creditors (CoC) meetings, invitations for expression of interest (EoI), and revised timelines for resolution plan submission.

NCLT proceedings and contempt application

Astron Paper & Board Mill Ltd has also filed a contempt application before the NCLT in Ahmedabad, according to the information provided. The company’s broader set of disclosures centres on the procedural steps being taken under CIRP, including compliance-related intimations and process timelines. No additional details on the contempt application outcome were included in the provided text.

CIRP commencement and moratorium from May 11, 2026

The CIRP commenced on May 11, 2026, after the NCLT admitted an application filed by an operational creditor under Section 9(5) of the IBC. The admission triggered a moratorium under Section 14 of the IBC from the same date. The company disclosed that, following this admission, the powers of the Board of Directors were suspended and exercised by the Interim Resolution Professional (IRP).

Interim Resolution Professional and approvals during CIRP

Astron Paper disclosed the IRP’s name and registration details as Mr. Atul Jashwantrai Sheth (IBBI Registration No. IBBI/IPA-001/IP-P/02463/2021-22/13854). As per the disclosure, the IRP approved the audited standalone and consolidated financial results at a meeting held on May 30, 2026. The audited results relate to the quarter and year ended March 31, 2026, and were published even as the company remained under the CIRP framework.

Stock exchange intimation under SEBI LODR

The company indicated that the intimation was issued pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice was sent to both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on September 15, 2026. These disclosures align with the company’s continuing obligations as a listed entity, even while under insolvency proceedings.

CoC updates and filings referenced in disclosures

The filings referenced include “Corporate Insolvency Resolution Process (CIRP) - Outcome of meeting of Committee of Creditors,” stated as the outcome of the 3rd CoC meeting along with e-voting results. The provided text also lists CIRP-related updates across dates, including an adjournment of the 4th CoC meeting on September 2, 2026. Separately, an “Invitation of Resolution Plan” entry is referenced on September 1, 2026.

Invitation for Expression of Interest and contact details

Astron Paper issued an Invitation for Expression of Interest (EoI) under Section 25(2)(h) of the IBC, 2016, inviting interested resolution applicants to submit EoIs in the prescribed format. The submission email disclosed for EoI is astroncirp@gmail.com, and the contact person for queries is Jashwantrai Sheth. The disclosure positions the EoI process as a procedural step to identify prospective resolution applicants under the CIRP.

Timeline changes: extensions and revised resolution plan deadline

The company’s disclosures show that the CIRP process timeline has been updated over time. One timeline states that the last date to receive EoI was extended from July 25, 2026 to August 4, 2026, and that resolution plans were due by September 17, 2026. Another update states that the last date for receipt of EoI is revised to September 19, 2026. A further update notes a revised timeline where the submission of resolution plans is set for November 16, 2026.

Workforce disclosure in the CIRP process

One of the disclosed updates notes that the process has zero employees currently on record. The text does not provide further operational detail around this point, but it is explicitly stated as part of the insolvency process information.

Market impact: what is confirmed from the disclosures

The disclosures primarily reflect procedural developments rather than business performance signals. Key confirmed market-relevant points include the continuation of exchange filings under SEBI LODR, the moratorium under Section 14 from May 11, 2026, and the shifting deadlines for EoI and resolution plan submission. For investors, the timeline revisions indicate that the resolution process milestones have moved out to November 2026 for resolution plan submission, based on the latest stated schedule. No stock-price move, creditor exposure amounts, or recovery estimates were provided in the text, and therefore are not reflected here.

Why the revised dates matter in the CIRP context

The change in deadlines is important because it defines how long prospective resolution applicants have to participate and when the CoC can evaluate proposals. The disclosures also show that Astron Paper continues to publish audited financial results and process updates, with approvals recorded as outcomes of meetings involving the resolution professional. The sequence of updates, including the adjournment of a CoC meeting and multiple invitations, highlights an active CIRP track with periodic adjustments to timelines.

Conclusion

Astron Paper & Board Mill Ltd’s CIRP began on May 11, 2026, following NCLT admission, along with a moratorium under Section 14 and suspension of board powers in favour of the IRP. Subsequent filings to BSE and NSE outline CoC updates and the structured process for attracting resolution applicants through EoIs and resolution plans. Based on the latest disclosed schedule, the EoI receipt deadline is stated as September 19, 2026, and the resolution plan submission deadline is November 16, 2026, with further process steps mapped through October 2026.