Astron Paper & Board Mill Ltd is actively moving through the Corporate Insolvency Resolution Process. The Resolution Professional has unveiled a revised timeline, with the crucial deadline for submission of resolution plans set for November 16, 2026. This stage is critical as it will determine the company’s potential ownership restructuring and future survival under the IBC framework.
Astron Paper & Board Mill Ltd Advances Insolvency Process
The company has set the resolution plan submission deadline for November 16, 2026.
The revised timeline aims to ensure procedural compliance for the ongoing CIRP.
Reader Takeaway: Investors must track the November 16 plan submission; the process will dictate the company's future ownership.
What just happened
Astron Paper & Board Mill Ltd, currently under the Corporate Insolvency Resolution Process (CIRP), has updated its schedule for inviting resolution plans. The Resolution Professional, CA Atul J Sheth, issued the revised dates to ensure all procedural requirements under the Insolvency and Bankruptcy Code (IBC) are met.
Key Resolution Deadlines
Key milestones have been established to streamline the search for a resolution applicant:
- Receipt of Expression of Interest: September 19, 2026
- Issue of Provisional List of Prospective Applicants: September 29, 2026
- Issue of Final List of Prospective Applicants: October 14, 2026
- Submission of Resolution Plans: November 16, 2026
Why this matters
The invitation for resolution plans is a decisive phase in the insolvency process. It marks the transition from administrative organization to actively seeking a path for the company's revival or restructuring. For stakeholders, the quality and viability of the submitted plans by November 16 will influence the potential recovery of value.
Operational Overview
The company continues to function with an installed capacity of 500 tons per day of recycled kraft paper. In FY 2024-25, it reported a sales volume of 29,800 tons, resulting in a sales value of Rs 95.74 crore. Its manufacturing units are situated in Halwad and Bhuj, with corporate operations based in Ahmedabad.
Risks to watch
Investors should note that the company currently reports zero employees. The outcome of the CIRP remains uncertain, and the valuation of equity in such scenarios is subject to the terms finalized in the approved resolution plan, which may impact existing shareholders significantly.