Astron Paper & Board Mill Limited enters Corporate Insolvency Resolution Process
Astron Paper & Board Mill Limited has informed the NSE of entry into CIRP, triggering mandatory disclosures under Insolvency and Bankruptcy Code, 2016 and NCLT Rules. The company is now under NCLT supervision with an insolvency professional appointed as interim resolution professional. Creditors must lodge claims within the prescribed statutory period. The resolution plan, if any, must be approved by the Committee of Creditors and thereafter by NCLT, or the company will proceed to liquidation.
Why it mattersCreditors and stakeholders must file claims within the statutory window; NCLT jurisdiction and the 180-day (extendable to 270-day) resolution timeline governs the process; any M&A, asset sales or reorganisation will be subject to the Committee of Creditors' approval under IBC protocol.
SectorIndustrials
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Sources
- NSE Corporate Filings Archive · official
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