Vas Infrastructure CIRP reset: key dates for Sep 2026

Stock and insolvency developments in focus

Vas Infrastructure Limited is in the middle of a renewed Corporate Insolvency Resolution Process (CIRP) after its earlier resolution plan was rejected by the National Company Law Tribunal (NCLT). The company has continued to make regulatory filings to the BSE, including an update tied to a Committee of Creditors (CoC) meeting. For investors, the headline issue is that the business is operating under the insolvency framework, with management being run by a Resolution Professional (RP) and the board’s powers remaining suspended.

Stock price references in the available disclosures show multiple snapshots rather than a single official close for the same moment. As of 25 September 2026, the stock price is stated as ₹7.21. Separately, the scrip is also referenced as trading around ₹8.10 per share, and another line cites a “current share price” of ₹8.17.

Latest disclosure: 28th CoC meeting filing to BSE

Vas Infrastructure disclosed the outcome of the 28th meeting of the Committee of Creditors, held on 9 September 2026 at 16:00. The intimation was submitted to the BSE under Regulation 30 as part of the CIRP-related compliance flow. The text provided does not include the detailed voting items or specific decisions from the meeting, but it establishes that the CoC process is active and being reported through the stock exchange channel.

The company also indicated that the 28th CoC meeting was scheduled for Wednesday, 9 September 2026, consistent with the above meeting date and time. In CIRP, CoC meetings typically serve as the formal forum for creditor decisions, information flow, and procedural steps as the resolution process progresses.

NCLT rejection triggered a fresh CIRP cycle

A key turning point described is the NCLT Mumbai Bench-II order rejecting a resolution plan submitted by Authum Investment and Infrastructure Limited. The rejection date provided is 7 July 2026. Following this order, the narrative states that a fresh CIRP process was initiated.

The reset matters because it changes the timeline and reopens the procedural steps. Instead of moving forward on the earlier plan, the company and the RP now have to restart key documentation and invitation stages. This is central to how resolution processes re-attract interest from potential resolution applicants.

120-day deadline: information memorandum and Form G

The disclosure notes a strict 120-day timeline as part of the fresh CIRP cycle. The stated steps within this window include preparing a new Information Memorandum and issuing a new Form G. Form G is the public invitation used to call for expressions of interest, and the information memorandum is a core document for due diligence and evaluation.

This timeline indicates that the process is being driven under defined deadlines, and that subsequent milestones will be tied to the RP’s ability to complete these steps and run the process under creditor oversight. The article text does not provide the exact start date for the 120-day clock beyond linking it to the fresh process after the NCLT rejection.

CIRP has been in place since March 2024

Vas Infrastructure has been under CIRP since 11 March 2024, which is cited as the CIRP admission date. Under the process described, the board’s powers are suspended and the company’s management is handled by the Resolution Professional.

This point is important for shareholders because it frames control and decision-making. In a CIRP, operational and strategic decisions are typically routed through the RP and the CoC framework, rather than through the company’s board and management structure.

What the company does: real estate and infrastructure focus

Vas Infrastructure Limited is described as being primarily engaged in real estate development, focusing on residential construction and infrastructure projects. Another description in the provided text presents it as a real estate and infrastructure player focused on residential and commercial projects, primarily in Mumbai and surrounding regions.

The company is also described as diversifying into land development, building construction, and infrastructure facilities for industrial, commercial, and residential complexes. The address provided is Madhav Niwas CHSL, 400092, Mumbai, along with a company website.

Latest reported quarterly numbers: revenue and loss

Financially, the company reported a net loss of ₹0.13 crore for the quarter ending 30 June 2026, with revenue at ₹0.03 crore. These figures, presented in ₹ crore, underline the small scale of reported operating activity in that quarter and the continuation of losses.

The disclosures explicitly connect the company’s situation to the ongoing CIRP, which can constrain operations and affect the ability to execute projects depending on funding, approvals, and creditor decisions.

Shareholding snapshot: stable percentages through Jun 2026

A shareholding pattern table in the provided text shows promoters at 38.09% across Jun 2025, Sep 2025, Dec 2025, Mar 2026, and Jun 2026. Investors are shown at 61.91% across the same periods. The table also lists specific holders and their percentages remaining unchanged across the dates shown, including Jayesh Vinodrai Valia at 29.16%.

The stability across consecutive quarters suggests no change in these reported holdings over the listed periods, based on the table reproduced in the source text.

Key facts table

Shareholding table (as reported)

Other compliance items mentioned

Beyond insolvency-related items, the text references a “Newspaper Publication” submission tied to a newspaper cutting for pre-dispatch of the annual report of the company for FY2025-26. Another compliance line refers to a certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30 September 2025.

The material also includes a snippet indicating a submission to BSE of a shareholding pattern for the period ended 31 December 2024, while another line reads “NO_RECORD_FOUND” without further context. A separate time marker appears as “BSE: 10 Aug 4:00 PM,” but the item linked to that timestamp is not specified in the provided text.

Market impact: why these updates matter to investors

The market impact in this case is primarily tied to the insolvency status and procedural resets. The stock price references show the scrip trading in a low single-digit range in September 2026, with values cited between ₹7.21 and ₹8.17 depending on the snapshot source. Investors typically track CIRP progress through CoC outcomes, NCLT developments, and whether the RP can complete mandatory steps like the information memorandum and Form G issuance within stated timelines.

The reported quarterly numbers for the period ending 30 June 2026 show revenue of ₹0.03 crore and a net loss of ₹0.13 crore, reinforcing that financial performance remains weak during the insolvency period, at least as reflected in that quarter’s reported figures.

Analysis: reading the timeline and filings without overreach

The key analytical point from the available information is that the process has moved from an attempted resolution to a reset, following the NCLT rejection on 7 July 2026. That reset introduces a clearly stated 120-day window to restart core steps, and the CoC meeting on 9 September 2026 indicates ongoing creditor engagement.

However, the provided text does not disclose the detailed agenda outcomes of the CoC meeting, nor does it provide the exact schedule for Form G issuance or the new information memorandum completion. Investors should treat the disclosed items as process markers and focus on subsequent exchange filings for concrete milestones.

Conclusion

Vas Infrastructure remains under CIRP, with the process dating back to 11 March 2024 and now operating under a fresh cycle after the NCLT rejected a resolution plan on 7 July 2026. The company has reported the outcome of its 28th CoC meeting held on 9 September 2026, while financials for the quarter ended 30 June 2026 show revenue of ₹0.03 crore and a net loss of ₹0.13 crore. The next clear checkpoints, based on the provided disclosures, are the completion of a fresh information memorandum and issuance of a new Form G within the stated 120-day timeline.