Sun Granite Export CIRP: Sep 30 CoC meet at 5 pm update

Why Sun Granite Export is on insolvency watchlists

Sun Granite Export Limited has moved deeper into the Corporate Insolvency Resolution Process (CIRP) after a sequence of exchange disclosures across August and September 2026. The latest operational milestone is the scheduling of the second Committee of Creditors (CoC) meeting for September 30, 2026 at 5:00 PM, to be conducted through video conferencing. Separately, the company has already reported that its CoC unanimously approved the appointment of Mr. Raghunath Bhandari as the Resolution Professional (RP) in a meeting held on September 3, 2026. Together, these updates place the company firmly in the early, process-setting phase of CIRP where creditor decisions shape the route the case will take.

The disclosures also underline a broader pattern seen in monitoring notes for listed stressed companies. Two names, TV Vision and Sun Granite, are described as being in early-stage CoC meetings, while others such as Zicom, Jatalia, and Vas Infrastructure are at stages where resolution plans have been approved or rejected. For investors tracking insolvency outcomes, dates of CoC meetings can become the most time-sensitive events because they often drive formal steps such as confirmation of the professional handling the process and the pace of subsequent actions.

NCLT admission and the start of CIRP

Sun Granite Export’s CIRP began after the National Company Law Tribunal (NCLT), Cuttack Bench, passed an order dated August 5, 2026 admitting the company into CIRP. The proceedings were initiated under a Section 7 petition of the Insolvency and Bankruptcy Code, 2016. In the case details referenced in the material, Minaxi Suppliers Private Limited is identified as the financial creditor and Sun Granite Export Limited as the corporate debtor.

The admission triggered a moratorium under Section 14 of the IBC with effect from August 5, 2026. The moratorium, as described in the disclosures, remains in force until completion of CIRP, approval of a resolution plan, or a liquidation order, as applicable under the process. The material also states that the powers of the company’s Board of Directors stand suspended after the CIRP admission. In practical terms, these are standard legal outcomes once CIRP is admitted, and they define the operating framework for the company during the process.

The default amount cited in the case

The NCLT admission is linked to an admitted default stated as ₹3.96 crore (₹3,95,96,011 including interest). The company’s position, as captured in the provided text, is that it disputes the default and claims solvency, attributing stress to temporary liquidity issues due to market conditions. However, the legal and procedural position reflected in the same material is that CIRP has been admitted by NCLT, and the insolvency process is therefore underway.

This distinction matters for market monitoring because exchange disclosures typically track procedural facts rather than adjudicating the underlying dispute. Investors following the stock and the insolvency docket usually focus on what has legally commenced, what decisions creditors have taken, and what deadlines have been set, since those are the items most likely to trigger subsequent filings.

First CoC meeting and appointment of the Resolution Professional

A monitoring note dated August 28, 2026 referenced a scheduled first CoC meeting for September 3, 2026 and flagged it as a high-materiality development. That same September 3 meeting date appears again in the company’s filing dated September 7, 2026, confirming that the CoC met on September 3 and approved the RP appointment.

According to the company’s disclosure, the Committee of Creditors unanimously approved the appointment of Mr. Raghunath Bhandari as Resolution Professional to conduct the CIRP. The filing places the appointment under Section 22(2) of the Insolvency and Bankruptcy Code, 2016. This is a key procedural step because it confirms who will run the process going forward, after the initial phase handled by the Interim Resolution Professional (IRP).

What is known about the professional’s registration and authorisation

In the disclosure around the second CoC meeting schedule, the company also provided identification details for the Resolution Professional. The RP’s Insolvency Professional Agency (IPA) registration number is stated as IBBI/IPA-0024P-N0102312020-2021/13276. The same disclosure states that the Authorisation for Assignment (AFA) is valid until 31.12.2026.

These administrative identifiers are not market-moving by themselves, but they confirm that a designated professional is in place for the process and that the assignment is backed by a valid authorisation period as stated in the filing.

Second CoC meeting on September 30: the next dated trigger

Sun Granite Export has informed BSE that the second meeting of its Committee of Creditors under CIRP is scheduled for September 30, 2026 at 5:00 PM via video conferencing. Monitoring commentary in the provided material characterises this as a critical juncture for early-stage CIRP cases because creditor meetings often set the cadence for the next phases, including how claims are reviewed and how the process is governed.

The provided information does not disclose any resolution plan, bidding timeline, or outcome. As a result, the disclosures support only a procedural status update: CIRP is active, a Resolution Professional has been appointed with unanimous CoC approval, and the second CoC meeting has a fixed date and time.

Public announcement and claims timeline mentioned in the disclosures

The material also references a public announcement dated August 8, 2026 which set August 19, 2026 as the last date for submission (as mentioned in the provided text). This fits the typical CIRP sequence where the IRP makes a public announcement and invites claims from creditors soon after admission.

Separately, one excerpt in the provided text also references “Public Announcement made pursuant to the order passed by NCLT under section 13 of Insolvency Code for inviting claim from creditors.” While another dated line appears in the content (“Dec 14 2017 02:35 PM”), the actionable CIRP dates cited in the same material are concentrated in August and September 2026.

Where Sun Granite sits versus other tracked CIRP situations

Monitoring notes in the provided text describe a “clear bifurcation” in the cohort being tracked. TV Vision and Sun Granite are described as being at early CoC stages, while Zicom, Jatalia, and Vas Infrastructure are described as being at resolution plan approval or rejection stages. This helps frame why scheduled meetings for Sun Granite are being treated as near-term monitoring events.

Key facts table: Sun Granite Export CIRP chronology

The exchange disclosures and monitoring notes provide a relatively clear date trail for the formal steps so far.

Market impact and what investors can and cannot infer

From a market perspective, the disclosures confirm “significant financial distress” in the sense that the company is undergoing insolvency proceedings and is subject to a moratorium. They also confirm that creditor governance is now active, with the CoC having unanimously appointed the RP.

But the material is equally clear on what is missing: there is no disclosed resolution plan, no bidding or evaluation timeline, and no stated outcome from creditor deliberations beyond the RP appointment and meeting schedules. Any conclusion about recovery outcomes, bidder interest, or equity value implications is not supported by the information provided. The only forward-looking element grounded in the text is the calendar of CoC meetings, especially the Sep 30 meeting for Sun Granite.

What to watch next based on disclosed milestones

With the RP in place, the next procedural actions in CIRP commonly involve invitations and evaluation steps, and the provided text notes that the newly appointed RP will invite expressions of interest (EoI). However, the disclosures supplied here do not specify an EoI date, a resolution plan submission window, or a voting agenda for the Sep 30 CoC meeting.

For readers tracking process risk, the moratorium and suspended board powers remain in effect as described until the CIRP reaches a formal end state, which could include approval of a resolution plan or a liquidation order under the IBC. The Sep 30 meeting is therefore best treated as the next confirmed checkpoint for process updates rather than as a pre-announced decision date.

Conclusion

Sun Granite Export’s filings show a CIRP that began with the NCLT Cuttack order on August 5, 2026, followed by a moratorium, a claims timeline reference, and CoC activity culminating in unanimous approval of Mr. Raghunath Bhandari as Resolution Professional on September 3. The next scheduled milestone is the second CoC meeting on September 30, 2026 at 5:00 PM via video conferencing. Any further inference on resolution outcomes will depend on what the company and the RP disclose after that meeting, including whether timelines for EoI or resolution plans are formally communicated.