Astron Paper & Board Mill Ltd

Astron Paper & Board Mill Ltd has scheduled a Board of Directors meeting on May 30, 2026, to consider and approve the audited standalone and consolidated financial results for the fiscal year ended March 31, 2026. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. The Interim Resolution Professional (IRP) is managing the company's affairs and ensuring compliance with SEBI LODR Regulations. Trading window will be closed and will re-open 48 hours after results are public.

Astron Paper & Board Mill Ltd has announced the commencement of the Corporate Insolvency Resolution Process (CIRP) against the company, following an order by the NCLT, Ahmedabad. The CIRP was initiated based on an application filed by M/s. Empire Sony PTY Limited, an Australia-based operational creditor, regarding an alleged debt of ₹1,77,99,024.64. Mr. Atul Jashwantrai Sheth has been appointed as the Interim Resolution Professional (IRP). A moratorium has been declared, suspending the powers of the Board of Directors.

Astron Paper & Board Mill Ltd. has announced the commencement of the Corporate Insolvency Resolution Process (CIRP) following an order by the National Company Law Tribunal (NCLT), Ahmedabad. The order, dated 11th May 2026, was in response to an application filed by M/s. Empire Sony PTY Limited regarding an alleged operational debt of ₹1,77,99,024.64. A moratorium has been declared, and the powers of the Board of Directors are suspended, with Mr. Atul Jashwantrai Sheth appointed as the Interim Resolution Professional (IRP) to manage the company's affairs.

Mr. Sudhir Maheshwari, an Independent Director of Astron Paper & Board Mill Ltd., has tendered his resignation, due to his preoccupation with other assignments, effective from 25th March 2026. He will also cease to be the Chairman of the Audit Committee of the Company. The resignation was received on 30th March 2026. Mr. Maheshwari confirmed that there are no other material reasons for his resignation.

Astron Paper & Board Mill Ltd has announced the closure of the trading window for all Directors, Promoter-Promoter Group, Designated Persons, and their immediate relatives. The closure is in accordance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, as amended by SEBI (Prohibition of Insider Trading) Regulations, 2018, and the company's policy on Prohibition of Insider Trading. The trading window will remain closed from 1st April, 2026 until 48 hours after the declaration of audited Financial Results for the 4th quarter ending on 31st March, 2026. The date of announcement of the audited Financial Results will be informed in due course.

Astron Paper & Board Mill Ltd has approved the unaudited financial results for the quarter ended on 31st December, 2025. The company reported a profit before tax of 448.82 lakhs and a net profit of 261,871 lakhs. The board also approved the reconstitution of the Audit Committee, Nomination and Remuneration Committee, and Stakeholders’ Relationship Committee. The company is undergoing insolvency proceedings and enforcement actions under the SARFAESI Act, 2002.

Astron Paper & Board Mill Ltd announced the outcome of its Board meeting and unaudited financial results for the third quarter ended on 31st December 2025. The Board approved the un-audited financial results, along with the Statement of Assets and Liabilities. The Statutory Auditors, M/s H K Shah & Co., have issued limited review reports with unmodified opinions. The Board also approved a proposal to seek shareholder approval by way of Postal Ballot for the ratification and confirmation of the appointment of Ms. Jankiben Patel as an Independent Director and the appointment of M/s H K Shah & Co., as Statutory Auditors for FY 2025-26. The Company is undergoing insolvency proceedings and enforcement actions, and the position of Company Secretary remains vacant.

Astron Paper & Board Mill Ltd has announced that Union Bank of India, acting as the lead secured creditor on behalf of member banks, has issued a public notice for E-Auction Sale of immovable secured assets of the Company under the provisions of the SARFAESI Act, 2002. The secured debt is ₹83,07,09,943.13 (as on 31.12.2025) plus further interest and costs. The auction will be conducted on 13th March 2026 from 12:00 PM to 05:00 PM through the online portal https://baanknet.com. The properties under auction include offices at D-702 and D-704, Ganesh Meridian, Ahmedabad, non-agricultural industrial land at Village Sukhpar, Taluka Halvad, District Morbi/Surendranagar, plant and machinery installed at the factory site located at Survey No.52/2-1, 53/1&2, Village Sukhpar, Taluka Halvad, District Morbi, and Survey No. 64/1, Village Chubadak, Taluka Bhuj, District Kutchh. This disclosure is being made in compliance with SEBI (LODR) Regulations, 2015.

Astron Paper & Board Mill Ltd has scheduled a Board of Directors meeting on 13/02/2026. The agenda includes approving the Standalone and Consolidated Un-Audited Financial Results for the 3™4 quarter ended on 31st December, 2025. The company will also seek shareholders’ approval for the ratification and confirmation of the appointment of Ms. Jankiben Patel as an Independent Director and the appointment of M/s H K Shah & Co., Chartered Accountants as Statutory Auditor for the financial year 2025-26. The trading window of the company will remain closed till 48 hours after the declaration of the financial results.

M/s SNDK & Associates LLP, the statutory auditor of Balaram Papers Pvt Ltd, a wholly owned subsidiary of Astron Paper & Board Mill Ltd, has resigned effective from 31st December, 2025. The resignation is due to the firm's inability to devote appropriate time for providing statutory auditing services due to their continuous engagement and involvement in other professional services. The firm has cited delays in the provision of required documents and details from the management of Balaram Papers Pvt Ltd as a contributing factor to their decision.