Aksh Optifibre Limited Enters Corporate Insolvency Resolution Process
Aksh Optifibre Limited has entered Corporate Insolvency Resolution Process (CIRP) following an NCLT order admitting an application for ₹2 crore plus interest. A moratorium has been declared, and an IRP appointed. The detailed written order is awaited.
Admission into CIRP is a critical event that can severely impact the company's operations, financial standing, and future prospects, affecting all stakeholders.
The company has been admitted into Corporate Insolvency Resolution Process (CIRP), which is a significant negative event indicating financial distress.
Aksh Optifibre Limited has announced that the Hon'ble National Company Law Tribunal (NCLT), Jaipur Bench, has orally pronounced an order admitting the application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC).
The application was filed by Shantanu Investments Private Limited against Aksh Optifibre Limited for an outstanding amount of ₹2,00,00,000 plus interest. Consequently, the NCLT has ordered the commencement of the Corporate Insolvency Resolution Process (CIRP) for the company. As part of the order, a moratorium under Section 14 of the IBC has been declared, and an Interim Resolution Professional (IRP) has been appointed.
The company stated that the detailed written order is awaited. Aksh Optifibre Limited remains committed to protecting the interests of all stakeholders and will continue to provide updates on material developments.
What to do with a filing like this
Aksh Optifibre Limited filed this with the NSE as a statutory disclosure, categorised under corporate insolvency resolution process. 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.