Sun Granite Export CIRP: CoC meeting set for Sep 30

What the latest stock exchange filing says

Sun Granite Export Limited has disclosed fresh procedural updates as it continues under the Corporate Insolvency Resolution Process (CIRP). The company informed the stock exchange about Committee of Creditors (CoC) developments through filings made under Regulation 30 and Schedule III of the SEBI (LODR) Regulations, 2015. The disclosures cover both the conduct of the first CoC meeting and the scheduling of the second CoC meeting. Together, these updates indicate that the insolvency process is moving through its required milestones after the National Company Law Tribunal (NCLT) admitted the case in August 2026.

Second CoC meeting scheduled for September 30, 2026

The company has intimated that the second CoC meeting is scheduled for September 30, 2026 at 5:00 PM. The meeting is planned to be held through video conferencing. This is one of the key procedural checkpoints during CIRP, where creditors review progress and take decisions as required under the Insolvency and Bankruptcy Code, 2016 (IBC). The disclosures in the provided information do not specify the agenda for the second meeting.

CoC approved the Resolution Professional on September 3

Sun Granite Export has also reported that in a CoC meeting held on September 3, 2026, creditors unanimously approved the appointment of Mr. Raghunath Bhandari as the Resolution Professional (RP). The filing places this appointment under Section 22(2) of the IBC. The unanimous approval is presented as a formal step in moving from an interim arrangement towards the RP-led phase of the insolvency process.

NCLT admitted CIRP after finding an established default

The CIRP began after the NCLT, Cuttack Bench, passed an order dated August 5, 2026 admitting Sun Granite Export into CIRP. The proceedings were initiated through a petition filed under Section 7 of the IBC, which deals with insolvency applications by financial creditors. The case details in the provided information identify Minaxi Suppliers Private Limited as the financial creditor, and Sun Granite Export Limited as the corporate debtor.

Separately, the provided text also notes that the NCLT allowed the insolvency plea against Sun Granite Export and rejected an objection relating to the NeSL record, stating that loan records, bank statements, and acknowledgments conclusively established default.

Default amount stated at about ₹3.96 crore

The insolvency case is linked to an admitted default of ₹3.96 crore, stated in the text as ₹3,95,96,011 (including interest). The material also provides a split of this default as ₹3.55 crore principal and ₹0.41 crore unpaid interest. These figures are presented as part of the case details supporting admission.

Moratorium in force from August 5, 2026

Following the admission order, a moratorium under Section 14 of the IBC came into force from August 5, 2026. The text describes the moratorium as remaining in force until completion of CIRP, approval of a resolution plan, or a liquidation order, depending on how the process concludes. The company’s disclosure also states it was informed of the admission on August 6, 2026.

Public announcement and claims window noted in disclosures

The provided information references a public announcement-led phase for inviting and collating claims. It mentions a “Public Announcement of Corporate Insolvency Resolution Process” dated August 8, 2026, with the last date of submission stated as August 19, 2026. This step is typically used to formally invite creditors to submit claims to the insolvency professional for verification and collation.

RP credentials and AFA validity mentioned

Sun Granite Export’s filings include details of the insolvency professional’s credentials. One disclosure cites the RP’s IPA registration number as IBBI/IPA-0024P-N0102312020-2021/13276 and notes that the Authorisation for Assignment (AFA) is valid until 31.12.2026. Another portion of the provided text also carries the registration number as IBBUIPA-002/IP-N01023/2020-2021/113276. The filings, as provided, do not add further context on these identifiers beyond listing them as part of the appointment-related information.

No resolution plan or bidding timeline disclosed yet

The provided information does not disclose any resolution plan, bidding timeline, or outcome. It also does not provide any details on prospective bidders or eligibility processes. The text notes that with the RP in place, the next procedural actions in CIRP commonly involve invitations and evaluation steps, and it specifically mentions that the newly appointed RP will invite expressions of interest (EoI).

Key facts table

Market impact and what investors can objectively track

The disclosures confirm that the company is undergoing insolvency proceedings, which is a marker of financial distress and elevated uncertainty for equity holders. From a market-information standpoint, the most concrete near-term event disclosed is the second CoC meeting on September 30, 2026. Any further changes to the status of the insolvency process would typically be visible through stock exchange filings, CoC outcomes, and tribunal-related updates.

Why these steps matter in the CIRP sequence

The NCLT admission sets the legal framework for CIRP and brings the moratorium into effect, which is central to how claims and recoveries are handled during the process. CoC decisions, including the approval of the RP under Section 22(2), shape how the process is administered. The mention of EoI indicates movement towards a stage where third parties may be invited to express interest, although the provided text does not disclose any dates or terms for such invitations.

Conclusion

Sun Granite Export’s exchange disclosures show CIRP progressing through its formal stages after the NCLT’s August 5, 2026 admission order tied to an admitted ₹3.96 crore default. With the RP approved and the second CoC meeting scheduled for September 30, 2026, the next confirmed update to watch is the outcome of that meeting and any subsequent filings on EoI or resolution-plan related steps, if announced.