Aksh Optifibre Limited: DRT Sets Aside SARFAESI Action by Union Bank of India
Aksh Optifibre Limited's SARFAESI proceedings initiated by Union Bank of India have been quashed. The Debt Recovery Tribunal, Jaipur, set aside the Demand Notice and Possession Notice on March 24, 2026. This ruling effectively nullifies the securitisation action against the company.
The quashing of SARFAESI action and associated notices by the DRT is a major legal victory for the company, potentially resolving a significant financial and operational overhang.
The Debt Recovery Tribunal setting aside the SARFAESI action and demand/possession notices by Union Bank of India is a positive development for the company, resolving a significant legal challenge.
Aksh Optifibre Limited has announced a significant development concerning the proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, by Union Bank of India.
Following an earlier intimation regarding a Securitisation Application filed before the Hon’ble Debt Recovery Tribunal, Jaipur (DRT), which had granted an interim stay, the Company has now received an order from the Hon’ble DRT, Jaipur. This order, dated March 24, 2026, and received by the Company on March 26, 2026, inter alia sets aside the Demand Notice issued under Section 13(2) and the Possession Notice issued under Section 13(4) of the SARFAESI Act, 2002.
Consequently, the securitisation action initiated by Union Bank of India has been quashed by the Hon’ble Tribunal. The company has requested that this information be taken on record.
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Aksh Optifibre Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Aksh Optifibre Limited. Read the original for the full detail.