Astron Paper & Board Mill Limited Schedules Seventh CoC Meeting

Astron Paper & Board Mill Limited has scheduled its seventh Committee of Creditors meeting for November 5, 2026, at 2:00 PM as its corporate insolvency process continues. The meeting follows earlier creditor deliberations and comes against reported debt of ₹75 crore, compared with trailing 12-month revenue of ₹3 crore.

When is Astron Paper's seventh CoC meeting?

Astron Paper's seventh Committee of Creditors, or CoC, meeting is scheduled for November 5, 2026, at 2:00 PM. The company disclosed the meeting through a Corporate Insolvency Resolution Process, or CIRP, public announcement dated November 4, 2026.

The meeting is the latest recorded creditor engagement since Astron Paper entered CIRP under the Insolvency and Bankruptcy Code, 2016. Its disclosures show that creditor meetings have continued through September and October, with the sixth CoC meeting held on the agenda dated October 19, 2026, at 3:00 PM.

A CoC is central to the insolvency process because financial creditors consider matters connected with the resolution of the corporate debtor. The source material does not disclose the agenda or voting items for the seventh meeting. Therefore, no conclusion can be drawn from the meeting notice alone regarding a resolution plan, asset sale, or liquidation decision.

Why is Astron Paper under the insolvency process?

Astron Paper has been under CIRP since May 11, 2026, following an order of the National Company Law Tribunal, Ahmedabad Bench. The disclosures also refer to an NCLT order dated May 1, 2026, in connection with the appointment and process.

Mr. Atul Sheth is the Deemed Resolution Professional managing the company's affairs, business and assets. Under the disclosed arrangement, the powers of Astron Paper's board of directors are vested in the Deemed Resolution Professional rather than being exercised by the board.

This shift in control is significant for investors because the insolvency framework places the resolution professional and creditors at the centre of the process. Any resolution plan approved by the CoC would require subsequent approval from the NCLT, and the company would need to make further disclosures on material developments.

What happened at Astron Paper's earlier CoC meetings?

Astron Paper's fifth CoC meeting was held on September 18, 2026, and the related e-voting concluded on October 7, 2026. The disclosed voting outcome said that the CoC rejected two resolutions concerning the appointment of resolution professionals.

The rejected proposals concerned Mr. Navin Khandelwal and Mr. Atul Sheth. Separately, the available information identifies Atul Sheth as the Deemed Resolution Professional appointed in the CIRP. The disclosures do not provide a replacement appointment outcome from those rejected resolutions.

Earlier voting disclosures also recorded approval for filing an interlocutory application under Sections 43 and 66 of the Insolvency and Bankruptcy Code. The CoC approved CIRP expenses of ₹23.11 lakh in that disclosure. These items indicate that the process has involved both procedural decisions and consideration of actions under the insolvency law.

What do Astron Paper's operating figures indicate?

Astron Paper's reported financial context points to severe operating stress. The supplied disclosures cite debt of ₹75 crore, market capitalisation of ₹13 crore and trailing 12-month revenue of ₹3 crore.

The company has also been described as having suspended core manufacturing operations since September 2024. The disclosures refer to a 500 tonnes-per-day capacity, although they do not state whether that capacity is currently operating or set out a confirmed revival plan.

Historical quarterly sales figures in the supplied material show a substantial decline from ₹91.54 crore in March 2023 to ₹0.07 crore in March 2026. The company has not provided a current operating recovery timeline in the notices cited here. This makes the CoC process important for determining the formal route being pursued for the business and its assets.

How does the CIRP affect Astron Paper shareholders?

Astron Paper shareholders face a process in which equity interests rank below financial and operational creditors under the Insolvency and Bankruptcy Code waterfall mechanism. This ranking means that the outcome for shareholders depends on the terms of any approved resolution plan or, if applicable, a liquidation outcome.

The seventh meeting notice itself does not announce a recovery proposal or quantify potential value for equity holders. Investors should distinguish between a scheduled CoC meeting and a completed resolution, since creditor approval, tribunal approval and required disclosures are separate steps.

For the paper industry context, the company's extended production suspension and low reported revenue underline that operational continuity remains an issue alongside debt resolution. The disclosures provide no confirmed information on funding, a successful bidder, restart dates or a final restructuring plan.

Conclusion

Astron Paper's seventh CoC meeting on November 5 extends a CIRP process that began in May 2026 and has transferred management powers to Deemed Resolution Professional Atul Sheth. The reported ₹75 crore debt, ₹3 crore trailing 12-month revenue and long-running manufacturing suspension frame the financial pressure behind the creditor deliberations.

The next disclosure to watch is the outcome of the November 5 CoC meeting, particularly any information on resolutions considered, voting results, a resolution plan or further NCLT proceedings. The available notice does not disclose the meeting agenda or a timetable for concluding the CIRP.