Spright Agro sets January 8, 2027 deadline for CIRP plans

Spright Agro Limited has set January 8, 2027 as the deadline for Corporate Insolvency Resolution Process (CIRP) plans, after inviting expressions of interest by November 13, 2026, under Form G dated October 29, 2026. The timetable follows creditor approval on October 28 of the cost to publish that invitation.

What is Spright Agro's CIRP timetable?

Spright Agro has set November 13, 2026 as the last date to receive expressions of interest and January 8, 2027 as the last date for submission of resolution plans. The timetable appears in Form G dated October 29, 2026, issued under Regulation 36A(1) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.

Spright Agro is scheduled to issue a provisional list of prospective resolution applicants on November 23, 2026. Objections to that list are due by November 28, 2026, after which the final list of prospective resolution applicants is scheduled for December 8, 2026.

Spright Agro plans to issue the information memorandum, evaluation matrix and request for resolution plans on December 13, 2026. The Form G identifies cirp.sprightagrolimited@gmail.com as the process email address for submitting expressions of interest.

Why is Spright Agro inviting resolution applicants?

Spright Agro is inviting resolution applicants after the National Company Law Tribunal, Ahmedabad Bench admitted it to CIRP on September 24, 2026. Its October 31, 2026 disclosure identifies the matter as CP(IB)/86(AHM)/2026 and records the outcome of the second Committee of Creditors, or CoC, meeting held on October 28, 2026.

Spright Agro's Form G was signed on October 29, 2026 by Rajesh Jasti as resolution professional. The October 31 filing identifies Rajesh Jasti as the resolution professional and gives his Insolvency and Bankruptcy Board of India registration number as IBBI/IPA-001/IP-P02317/2020-21/13469.

Spright Agro describes its business as commercial agriculture, primarily focused on domestic trading of agricultural products. Form G also lists contract farming, greenhouse technology, modern agro farming, aeroponics, organic farming and cold-storage services, while stating that installed capacity information was not currently available to the resolution professional.

What did Spright Agro's creditors approve on October 28?

Spright Agro's CoC approved four cost-related agenda items at its October 28, 2026 meeting, including the cost of publishing Form G. The October 31 disclosure says all four items considered at the second CoC meeting were approved.

Spright Agro's creditors approved the ratification and reimbursement of expenses relating to registered valuers, with those expenses to be included in CIRP costs. They also approved the appointment of a forensic auditor and the ratification, reimbursement and inclusion of forensic audit costs in CIRP costs, although no rupee amounts were disclosed.

Spright Agro's other two approvals covered an accountant appointed to maintain the company's books and the expense of publishing Form G. These October 28 decisions concern CIRP administration costs and do not disclose an asset valuation, a bid value, a selected applicant or a resolution plan.

What revenue did Spright Agro report before CIRP?

Spright Agro reported revenue of Rs 164.87 crore for FY 2024-25, compared with Rs 72.47 crore for FY 2023-24. Form G attributes the figures to revenue reported on BSE in the last two annual reports, making FY 2024-25 revenue Rs 92.40 crore higher than in FY 2023-24.

Spright Agro's Form G does not provide revenue by contract farming, greenhouse technology, aeroponics, organic farming, cold storage or agricultural-product trading for FY 2024-25. It also does not provide a quantity-based breakdown of the main products or services sold during that financial year.

What information is still unavailable to Spright Agro applicants?

Spright Agro says information on installed capacity and the number of employees or workmen was not currently available to the resolution professional in the October 29, 2026 Form G. It lists its registered office, and the place where the majority of fixed assets are located, as Office No. 1216, Shilp Epitom, Rajpath-Rangoli Road, off Sindhubhavan Road, Bodakdev, Ahmedabad, Gujarat 380054.

Spright Agro says its last available financial statements with schedules for two years and lists of creditors can be obtained by sending a request to cirp.sprightagrolimited@gmail.com. Eligibility criteria for resolution applicants under Section 25(2)(h) of the Code are also available through a request to that email address rather than being reproduced in Form G.

Spright Agro records its Micro, Small and Medium Enterprises registration status as “NA” in Form G. The October 29 document also says no corporate-debtor website was operating or working, while the October 31 company filing displays www.sprightagro.com in its letterhead and does not explain the difference.

Conclusion

The disclosed process has progressed from CIRP admission on September 24, 2026 and the October 28 CoC approvals to a dated applicant-screening and plan-submission schedule. The pre-CIRP revenue comparison shows reported revenue increased by Rs 92.40 crore between FY 2023-24 and FY 2024-25, but Form G does not provide operating capacity, employee numbers, product-level revenue or a valuation.

The next scheduled milestone is the November 13, 2026 deadline for expressions of interest, followed by the provisional applicant list on November 23 and the final list on December 8. Spright Agro is scheduled to provide the information memorandum, evaluation matrix and plan request on December 13, 2026, ahead of the January 8, 2027 resolution-plan deadline.