Astron Paper CIRP: 4th CoC e-voting Sep 11-15

What the latest CIRP update says

Astron Paper & Board Mill Ltd has opened the e-voting window for its fourth Committee of Creditors (CoC) meeting as part of its ongoing Corporate Insolvency Resolution Process (CIRP). The company’s disclosures place the e-voting period between September 11, 2026 and September 15, 2026, with a stated cut-off time of 5:00 pm on both days. The update matters because CoC voting is a core step in approving process actions during CIRP, including decisions on filings, advisors, and publication steps.

The company’s filings also include other governance and legal items around the same period, including an intimation regarding initiation of contempt proceedings and a separate intimation regarding delay in conducting the AGM. These updates arrive while the company’s board powers remain suspended under CIRP, with decisions routed through the insolvency professional.

E-voting window: start and close times

As per the disclosed schedule, e-voting for the fourth CoC meeting began on September 11, 2026 at 5:00 pm. The window is stated to remain open until September 15, 2026 at 5:00 pm. The company’s communication repeats the same time band, which is typical for formal e-voting notices to avoid ambiguity about eligibility and closure.

The timeline is linked to the fourth CoC meeting that was originally set for September 2, 2026. The meeting was later adjourned on September 9, 2026 at 4:00 pm, after which the e-voting window was opened. The disclosures do not specify in the provided text what exact resolutions are placed for the fourth e-voting, but they confirm the timing and the CIRP context.

Fourth CoC meeting: the adjournment trail

The fourth CoC meeting was initially scheduled for September 2, 2026. It was subsequently adjourned on September 9, 2026 at 4:00 pm, based on the company’s intimation. Following that, the e-voting for the fourth CoC is positioned as the formal mechanism for creditor decisions.

For investors tracking CIRP developments, this sequence is relevant because adjournments can extend timelines and push related actions, such as appointment of advisors, litigation steps, or process publications. The company’s update stops short of detailing the agenda items for the fourth vote, but it provides the key procedural dates.

A quick recap: key decisions from the third CoC meeting

Astron Paper’s disclosures also summarise outcomes of its third CoC meeting, which was held on August 5, 2026, with e-voting concluding on August 26, 2026. According to the stated points, the CoC approved filing an interlocutory application (IA) against an operational creditor for non-compliance and sought a deposit of ₹0.02 crore (₹2,00,000). The CoC also approved fresh publication of Form-G in newspapers, and approved the Evaluation Matrix covering qualitative and quantitative parameters.

In addition, the CoC appointed VCAN & Co. as Transaction Auditor at a stated fee of ₹0.025 crore plus GST and out-of-pocket expenses (₹2,50,000 + GST + OPE). The updates also mention approval for installing solar-powered lighting for visibility and deterrence, indicating operational site-related decisions being taken alongside legal and process actions during CIRP.

NCLT admission and who currently runs the company

The company’s audited results communication states that the National Company Law Tribunal (NCLT), Ahmedabad Bench, Court-II admitted an application filed by an operational creditor under Section 9(5) of the Insolvency and Bankruptcy Code, 2016. The order date cited is May 11, 2026, and the admission triggered initiation of CIRP for the company.

Following this, the powers of the Board of Directors stand suspended and are exercised by the Interim Resolution Professional. The disclosure names Mr Atul Jashwantrai Sheth as IRP, and includes his IBBI registration number (IBBI/IPA-001/IP-P/02463/2021-22/13854). This governance structure explains why process updates, including financial result approvals, are routed through the IRP.

FY26 financial snapshot: revenue fell as plants were non-operational

Astron Paper reported an audited standalone net loss of ₹19.453 crore for FY26. The company also reported that revenue fell to ₹2.793 crore from ₹95.946 crore in the prior year. The reason stated in the disclosure is that the company’s plants were non-operational, which led to the sharp contraction in revenue.

The audited standalone and consolidated financial results for the quarter and year ended March 31, 2026 were approved at a meeting held on May 30, 2026. The timing in the notice indicates the meeting commenced at 8:00 p.m. and concluded at 10:30 p.m. The presence of CIRP context alongside audited numbers is significant because financial reporting during insolvency is closely monitored by creditors and regulators.

Stock and shareholder disclosures visible in the feed

The provided market data snippets show Astron Paper & Board Mill Ltd around ₹2.98 with a change of ₹0.01 (0.34%), and also show another data point stating that as of 18-09-2026 00:01 the share price was ₹0, a change of ₹-2.97 (-100.00%) from the previous close of ₹2.97. Since these two values conflict in the provided feed, readers should treat them as separate timestamps or vendor outputs rather than a single confirmed close.

On shareholding, the table shown lists promoters at 25.4% across multiple periods and FII holdings at 0% across the same periods. The dividend table displayed “No Record Found” across fields in the provided extract.

Company identifiers and contact details

The address shown for Astron Paper includes Ganesh Meridian, D-702, Seventh Floor, Opposite High Court, Ahmedabad, Gujarat 380060, with phone number 079-40081221 and fax 079-40081220, and the website listed as www.astronpaper.com. The executive names displayed include Kiritbhai Ghanshyambhai Patel (Executive Chairman & MD), Ramakant Kantibhai Patel (Whole Time Director), Sudhir Omprakash Maheshwari (Independent Non-Executive Director), and Karshanbhai Hirabhai Patel (Non-Executive Non-Independent Director).

Separately, the extract also mentions an update about a registered office address at 407, Satyamev Eminence, B/S Saptak Bungalows, Science, Sola, Ahmedabad, Gujarat 380060. Readers tracking filings typically reconcile such address changes with exchange disclosures and statutory records.

Key facts table

Market impact and why the CoC timeline matters

CIRP-related milestones such as CoC meetings and e-voting windows are process checkpoints that can influence how quickly the resolution process moves. In this case, the disclosed adjournment followed by a defined e-voting period signals the creditors are continuing to take decisions through formal voting rather than only through in-meeting consensus.

The financial disclosures add context to creditor decisions. Revenue falling to ₹2.793 crore in FY26 from ₹95.946 crore earlier, alongside a ₹19.453 crore standalone net loss, underscores that the company’s operations were heavily disrupted due to non-operational plants. Against this backdrop, CoC approvals on items like Form-G publication, evaluation matrix parameters, and audit appointments become practical steps in running the CIRP process.

Conclusion

Astron Paper’s fourth CoC e-voting window is scheduled from September 11 to September 15, 2026, closing at 5:00 pm, after the meeting set for September 2 was adjourned on September 9. The company remains under CIRP pursuant to the NCLT’s May 11, 2026 order, with the IRP exercising board powers. The next confirmed procedural marker in the provided disclosures is the closure of the current e-voting window, after which CoC decisions would typically be recorded in the meeting outcomes.