StockWatch
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Paper & Paper Products
Legal29 Aug 2026, 05:50 pm

Astron Paper CoC Approves Legal Action, Publication, and Auditor Appointment

AI Summary

Astron Paper & Board Mill Ltd announced the outcome of its third Committee of Creditors (CoC) meeting held on August 5, 2026. The e-voting concluded on August 26, 2026. Key resolutions approved include filing an application with the NCLT against an Operational Creditor for non-compliance, approving the fresh publication of Form-G in newspapers, ratifying the qualitative and quantitative parameters for the Evaluation Matrix, and appointing VCAN & Co. as the Transaction Auditor for a fee of ₹2,50,000 + GST + OPE. The company is currently under Corporate Insolvency Resolution Process (CIRP).

Key Highlights

  • CoC approved legal action against an Operational Creditor.
  • Fresh publication of Form-G in newspapers approved.
  • VCAN & Co. appointed as Transaction Auditor.
  • Evaluation Matrix parameters approved for IBC process.
  • Company is under Corporate Insolvency Resolution Process (CIRP).