Astron Paper receives possession notice from Union Bank of India for multiple assets
Astron Paper received a possession notice from Union Bank of India on October 17, 2025, under the SARFAESI Act, for several land and office assets due to outstanding dues.
The loss of multiple land plots, factory land, and office spaces to the bank has a high impact as it could severely disrupt operations, impair the company's asset base, and signal significant financial instability.
The receipt of a possession notice from a bank under the SARFAESI Act indicates financial distress and default, leading to the loss of significant company assets, which is a negative development.
Astron Paper & Board Mill Limited announced that it received a possession notice dated 17 October 2025 from Union Bank of India. The notice, issued under the Securitisation and Reconstruction of Financial Assets and Enforcement Security Interest (SARFAESI) Act, 2002, involves the bank taking possession of several secured assets, including: * Plot of Land at Survey No.55, village Sukhpar, Taluka Halvad, Dist Surendranagar, admeasuring 11028 sq mtrs. * Plot of land at Survey No. 54, Sukhpar, Taluka Halvad Dist. Surendranagar, admeasuring 12950 sq mtrs. * L& B at Survey No. 52/1, 52/2 ,53/1, 53 /paiki 2 village Sukhpar, Taluka Halvad , Dist Surendranagar, admeasuring 45224 Sq mtrs. * Office at D-702, Ganesh Meridian, S. G. Road, Ahmedabad, admeasuring 333.46 Sq mtrs. * N.A. land Survey No. 49 paiki 1 and Survey No.50 Village Sukhpar Taluka Halvad, Dist Surendranagar , admeasuring 30049 Sq mtrs. * L& B at Survey No. 64/1 village Chubadak, Taluka Bhuj, Dist Kutchh, admeasuring 17600 Sq mtrs. * Office at D-704, Ganesh Meridian, S. G. Road, Ahmedabad, admeasuring 140.43 Sq mtrs. * Factory land at Survey No.49 paiki 2 at Village Sukhpar, Taluka Halvad, Dist, Surendranagar admeasuring 14670 Sq mtrs. * Factory land at Survey No.51/1, 51/2, & 51/3 at Village Sukhpar, Taluka Halvad, Dist, Surendranagar admeasuring 46094 Sq mtrs. The Company is currently evaluating the implications of this action and plans to take appropriate legal steps.
What to do with a filing like this
Astron Paper & Board Mill Limited filed this with the NSE as a statutory disclosure, categorised under fraud/defaults disclosure. 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 Astron Paper & Board Mill Limited. Read the original for the full detail.