Aksh Optifibre's promoter has proposed a settlement of ₹3.33 crore to the NCLAT, which has stayed further insolvency proceedings. The company will continue operations under the IRP's supervision.
Aksh Optifibre Ltd: NCLAT Halts Insolvency Process, Promoter Offers Settlement
₹3.33 crore total settlement offer; ₹2 crore principal amount.
Reader Takeaway: NCLAT stay offers reprieve; settlement proposal shows path to resolution.
What just happened
The National Company Law Appellate Tribunal (NCLAT) has placed a stay on further steps by the Interim Resolution Professional (IRP) in the Corporate Insolvency Resolution Process (CIRP) for Aksh Optifibre Limited. This follows an appeal filed by the company's promoter against an order from the National Company Law Tribunal (NCLT), Jaipur Bench.
Why this matters
This development is crucial as it halts immediate insolvency actions and provides a window for resolution. The NCLAT's order ensures the company continues to operate as a running concern, preventing operational disruption. The promoter's settlement offer also signals a potential end to the legal tussle.
The backstory
Aksh Optifibre Limited was undergoing Corporate Insolvency Resolution Process (CIRP) following an NCLT order. The promoter has now stepped in with a settlement proposal to address the creditors' claims.
What changes now
Further steps in the CIRP are halted due to the NCLAT stay. The company will continue its day-to-day operations under the IRP's supervision, with the promoter, officers, and employees assisting. The promoter has proposed to deposit the principal amount of ₹2 crore within three weeks and the remaining interest within a further three weeks, totaling ₹3.33 crore.
Risks to watch
The primary risk remains the ongoing insolvency proceedings, which represent a high-risk scenario until a final resolution. The outcome of the next hearing on August 6, 2026, will be critical.
Peer comparison
Information not available in the filing.
Context metrics (time-bound)
The next hearing is scheduled for August 6, 2026. The promoter is expected to deposit the principal amount within three weeks and the remaining interest within a subsequent three weeks.
What to track next
Investors should closely monitor the NCLAT proceedings and the promoter's compliance with the settlement offer. The hearing on August 6, 2026, will be a key date to watch for the future of the company.