Astron Paper & Board Mill Limited

Astron Paper's resolution professional seeks NCLT order over withheld records

The Deemed Resolution Professional managing the insolvency of Astron Paper & Board Mill has filed an application before the NCLT Ahmedabad Bench under Section 19(2) of the Insolvency and Bankruptcy Code, alleging non-cooperation and withholding of financial records by the suspended management. The move follows an earlier October 2026 request to extend the 180-day Corporate Insolvency Resolution Process by 90 days, with resolution plans due by 16 November 2026.

Why this mattersDelays and disclosure disputes in the CIRP raise the risk of liquidation rather than a going-concern sale of the recycled kraft paper producer.

• Resolution professional's application under Section 19(2) of the IBC at NCLT Ahmedabad disclosed on 7 November 2026
• Non-cooperation allegedly concerns financial records of the company and its wholly owned subsidiary
• The 180-day CIRP period expired on 6 November 2026; a 90-day extension was requested on 9 October 2026
• Resolution plans are due by 16 November 2026
• Installed capacity is 500 tonnes per day of recycled kraft paper at Halvad and Bhuj
• Kraft paper sales fell to 280 tonnes worth USD 77,150 (INR 72.47 lakh) in FY2025-26 from 29,800 tonnes worth USD 10.19m (INR 95.74 crore) in FY2024-25

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