Astron Paper & Board Mill Ltd has filed a contempt application before the National Company Law Tribunal (NCLT) in Ahmedabad. The filing targets an operational creditor for failing to comply with a tribunal order dated May 11, 2026.

The Corporate Insolvency Resolution Process (CIRP) for the company commenced on May 11, 2026, following the NCLT’s initial order. The resolution professional, CA Atul J Sheth, disclosed that the tribunal had directed the operational creditor to deposit ₹2,00,000 in advance within two weeks of receiving the order.

Contempt Proceedings Initiated

Despite the specific direction, the operational creditor failed to make the payment within the stipulated period. Consequently, the resolution professional filed an application under Section 60(5)(c) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Section 425 of the Companies Act, 2013.

The application seeks initiation of appropriate contempt proceedings against the respondent for willful non-compliance. The filing references CP(IB) 316 of 2025 and Rule 11 of the National Company Law Tribunal Rules, 2016.

What the Numbers Show

The core dispute revolves around a relatively small monetary obligation of ₹2,00,000. The failure to meet this advance deposit requirement within a strict two-week window triggered immediate legal escalation by the resolution professional. This highlights the procedural rigidity of the CIRP process, where even minor financial directives from the NCLT carry significant compliance weight.

Regulatory Disclosure

The intimation was issued pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice was sent to both the Bombay Stock Exchange and the National Stock Exchange on September 15, 2026.

E-voting for the fourth Committee of Creditors (CoC) meeting of Astron Paper & Board Mill Ltd commenced on Friday, September 11, 2026, at 5:00 pm. The company is currently undergoing the Corporate Insolvency Resolution Process (CIRP).

The voting window remains open until Tuesday, September 15, 2026, at 5:00 pm. This process allows CoC members to cast votes on resolutions placed before them in accordance with the Insolvency and Bankruptcy Code, 2016.

Meeting Adjournment Details

The fourth CoC meeting was originally scheduled for Wednesday, September 2, 2026. However, it was adjourned on Tuesday, September 9, 2026, at 4:00 pm, based on requests received from CoC members.

The e-voting mechanism was initiated to facilitate member participation following this rescheduling. The Corporate Debtor’s management and affairs are being conducted under the supervision of the Resolution Professional as per IBC provisions.

Regulatory Context

The CIRP for Astron Paper & Board Mill Ltd began on May 11, 2026, pursuant to an order by the National Company Law Tribunal (NCLT). The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Atul Sheth serves as the Deemed Resolution Professional for the process.