Astron Paper Subsidiary's Property E-Auctioned by Canara Bank
Canara Bank has issued an e-auction sale notice for assets of Astron Paper & Board Mill's subsidiary, Balaram Papers Private Limited. The auction, scheduled under SARFAESI Act, covers plant, machinery, and land. The company is evaluating implications and will take legal advice.
The auction of a subsidiary's core assets (plant, machinery, and land) can severely impact the subsidiary's operations and the parent company's financial health and strategic plans.
The e-auction of a subsidiary's property by a bank indicates a significant financial distress or default, which is negative for the company.
Astron Paper & Board Mill Limited has informed the stock exchanges that Canara Bank, through its Asset Recovery Management Branch, has issued an E-auction sale notice dated 21.11.2025. This notice pertains to the assets of Balaram Papers Private Limited, a wholly-owned subsidiary of Astron Paper & Board Mill Limited.
The auction is being conducted under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The properties to be auctioned include plant and machinery, as well as land, situated at Revenue Survey No. 258 in Ganeshpura, Kadi Tehsil, Mehsana district, Gujarat. The subsidiary's name is M/s Balaram Papers Private Limited.
The company is currently evaluating the implications of this e-auction and will be taking appropriate steps based on legal advice. This disclosure is made in compliance with SEBI (LODR) Regulations, 2015.
What to do with a filing like this
Astron Paper & Board Mill Limited filed this with the NSE as a statutory disclosure, categorised under regulatory impact. 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.