Sun Granite Export Ltd faces CIRP initiation

Sun Granite Export Ltd has been admitted into Corporate Insolvency Resolution Process (CIRP) by the National Company Law Tribunal (NCLT), Cuttack Bench. The order, dated August 5, 2026, was passed following a petition filed by Minaxi Suppliers Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The admitted default amount is ₹3,95,96,011. Mr. Raghunath Bhandari has been appointed as the Interim Resolution Professional (IRP). A moratorium has come into effect from August 5, 2026, and will last until the completion of the CIRP or further orders from the NCLT. The company is evaluating the implications and will make further disclosures as material developments occur.