Astron Paper: CoC Approves Filing Against Operational Creditor, Fresh Form-G
Astron Paper's Committee of Creditors approved filing against an operational creditor for non-compliance with a ₹2,00,000 deposit order. Approvals were also given for fresh Form-G publication, evaluation matrix parameters, appointing VCAN & Co. as Transaction Auditor for ₹2,50,000+GST, and installing solar lighting.
The decisions made by the Committee of Creditors, such as initiating legal action against an operational creditor and approving the auditor for transaction audit, are significant steps within the ongoing insolvency resolution process. These actions directly impact the progression and potential outcome of the CIRP.
The announcement details the outcomes of a Committee of Creditors meeting during the Corporate Insolvency Resolution Process. While it outlines approved actions, these are procedural steps within an insolvency framework and do not inherently represent positive or negative performance for the company's future operations.
Astron Paper and Board Mill Limited, currently under Corporate Insolvency Resolution Process (CIRP), announced the outcome of the Third Meeting of the Committee of Creditors (CoC) held on August 5, 2026. The e-voting for this meeting concluded on August 26, 2026.
Several key resolutions were approved by the CoC with the requisite majority. These include seeking directions from the Hon'ble NCLT against an Operational Creditor for non-compliance with an Admission Order to deposit ₹2,00,000. Additionally, the CoC approved the fresh publication of Form-G in newspapers and the qualitative and quantitative parameters for the Evaluation Matrix as per IBC, 2016.
The committee also approved the appointment of VCAN & Co. as the Transaction Auditor at a fee of ₹2,50,000 + GST + OPE for conducting a transaction audit. Furthermore, approval was given for the installation of solar-powered lighting to improve visibility. The company is under CIRP since May 11, 2026, with Mr. Atul Sheth serving as the Deemed Resolution Professional.
A plain-language summary of a public exchange filing by Astron Paper & Board Mill Limited. Read the original for the full detail.