Simbhaoli Sugars Ltd: Corporate Insolvency Resolution Process Moves Ahead

Simbhaoli Sugars Limited is actively pursuing its revival through the Corporate Insolvency Resolution Process (CIRP), initiated on July 11, 2024. The process resumed after a stay was vacated by the NCLAT on July 13, 2026. Mr. Anurag Goel has been appointed as the Interim Resolution Professional (IRP).

What just happened

The IRP has invited Expressions of Interest (EOI) from potential resolution applicants. This is a crucial step in finding a viable plan for the company's future. The last date to submit EOI is September 8, 2026.

Why this matters

This invitation is a procedural milestone in Simbhaoli Sugars' revival efforts. It opens the door for interested parties to submit plans that could lead to the company's turnaround and continued operations.

Reader Takeaway: EOI invitation signifies progress in CIRP; shareholders must track applicant interest and plan submissions for revival.

The backstory

Simbhaoli Sugars has been undergoing the CIRP since July 2024. Following a temporary stay, the process is now back on track, with the IRP taking active steps to identify potential investors.

What changes now

With the EOI invitation, the company is moving towards the stage of receiving concrete resolution plans. The timeline indicates that a final list of applicants will be issued by September 30, 2026, with resolution plans due by November 5, 2026.

Eligibility Criteria Highlights

Prospective resolution applicants must meet specific financial thresholds. Corporates and LLPs need a consolidated Tangible Net Worth (TNW) of Rs 200 crore. Financial Investors require a TNW of Rs 500 crore, or Assets Under Management (AUM) of Rs 1,000 crore, or committed funds of Rs 500 crore. Corporate bidders also need a minimum group turnover of Rs 100 crore from agro-processing, manufacturing, or distillation. A refundable Earnest Money Deposit (EMD) of Rs 2 crore is also mandated.

Key Process Milestones

• Last Date for receipt of EOI: 08/09/2026
• Issue of Provisional List: 16/09/2026
• Last Date for objections to Provisional List: 21/09/2026
• Issue of Final List: 30/09/2026
• Issue of Information Memorandum / RFRP: 01/10/2026
• Last Date for submission of Resolution Plans: 05/11/2026

Financial and Operating Metrics (FY 2025-26)

Sugar and Distillery Sales

• Sugar Revenue: Rs. 591.53 crore
• Distillery Revenue: Rs. 215.47 crore

Installed Capacity

• Cane Crushing: 19,500 TCD (across Simbhaoli, Brijnathpur, Chilwaria)
• Distillery: 210 KLPD (across Simbhaoli, Brijnathpur, Chilwaria)

What to track next

Investors should closely monitor the EOI submission process, the eligibility of applicants, and the quality of resolution plans submitted by the November deadline. The successful identification of a credible resolution applicant will be key to the company's future.