Opto Circuits Appoints New Resolution Professional under NCLT Order

NCLT Bengaluru bench approves replacement of Resolution Professional effective 31 August 2026. The change follows a 78.62% voting share by the Committee of Creditors in July 2026.

Reader Takeaway: Administrative change in insolvency management; no immediate shift in the company's underlying financial insolvency status.

What just happened

Opto Circuits (India) Ltd, currently under the Corporate Insolvency Resolution Process (CIRP), has officially transitioned to a new Resolution Professional (RP). The Hon'ble NCLT, Bengaluru Bench, issued an order approving the appointment of M/s. Waterfall Insolvency Professional Private Limited as the new RP. Ms. Shirley Mathew will act as the Designated Director representing this entity. This appointment replaces the previous Resolution Professional, Mr. Pankaj Srivastava.

Why this matters

The appointment follows a decision made during the 39th meeting of the Committee of Creditors (CoC) held on 14 July 2026. A strong majority of 78.62% of the voting share supported the change. For stakeholders, this reflects the active oversight of the CoC in managing the ongoing resolution process under the Insolvency and Bankruptcy Code (IBC).

The backstory

Opto Circuits has been under the CIRP framework since November 2022, initiated by an order of the NCLT Bengaluru Bench. The company has since been navigating the statutory resolution process, which involves various oversight mechanisms, including the appointment of an RP to manage day-to-day operations and the resolution strategy on behalf of creditors.

Risks to watch

Investors should be aware that the company remains in the CIRP, which carries inherent uncertainty regarding future outcomes, including the possibility of a successful revival or potential liquidation depending on the final resolution plan approved by the NCLT.

What to track next

Market observers and investors should monitor future stock exchange filings for details regarding the submission and approval of a resolution plan. Any communication from the newly appointed RP regarding the company's operational trajectory or insolvency status remains the primary metric for tracking developments.