Bloom Dekor Limited's Committee of Creditors convened its 21st meeting on March 11, 2026, during the ongoing Corporate Insolvency Resolution Process, where several critical resolutions were unanimously approved to facilitate the continuation of insolvency proceedings.

CIRP Extension and Legal Proceedings

The Committee of Creditors approved the Resolution Professional to file an Interlocutory Application before the Adjudicating Authority seeking exclusion of litigation period pending before the NCLAT until disposal of the order dated January 13, 2026. The application will also request a 120-day extension of the CIRP period along with condonation of delay.

Resolution Plan Timeline Extension

The COC approved and ratified the extension granted to Resolution Applicants for submission of revised Resolution Plans until March 16, 2026. This extension remains subject to the approval of the Interlocutory Application for exclusion and extension of the CIRP period to be filed before the NCLT.

Operational and Administrative Expenses

The committee ratified several operational expenses essential for maintaining the corporate debtor as a going concern during the insolvency process.

The gratuity payment was specifically allocated for obtaining renewal premium quotation and ensuring employee gratuity coverage of the Corporate Debtor. All approved expenses will form part of the Corporate Insolvency Resolution Process costs.

Additional Approvals

The COC also ratified the payment of Head Office property tax along with applicable interest and penalty, and approved mortgage release expenses in favor of Sampati Securities Limited. These expenses will similarly be classified under CIRP costs.

Administrative Note

The outcome was signed by the Resolution Professional CA IP Vinceta Maheshwari, as CS Tushar Dineshbhai Donda resigned from his position as Senior Company Secretary and Compliance Officer effective November 19, 2024. The Resolution Professional holds IBBI Registration No. IBBI/IPA-001/IP-P00185/2017-18/10364 with AFA validity until June 30, 2027.

Bloom Dekor Limited, a laminate and doors manufacturer currently undergoing Corporate Insolvency Resolution Process (CIRP), has reported deteriorating financial performance for the quarter ended December 31, 2025. The company's net loss widened significantly to ₹50.79 crores compared to ₹32.14 crores in the corresponding quarter of the previous year, representing a 58.0% increase in losses.

Financial Performance Overview

The company's operational performance showed concerning trends across key metrics for Q3FY26:

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, Bloom Dekor recorded revenue from operations of ₹377.79 crores compared to ₹349.54 crores in the corresponding period of the previous year, showing a marginal increase of 8.1%. However, the company reported a net loss of ₹65.03 crores for the nine-month period, slightly lower than the ₹67.94 crores loss in the previous year.

Expense Structure and Cost Pressures

The company's expense structure revealed several areas of concern during Q3FY26. Cost of materials consumed decreased to ₹25.94 crores from ₹43.84 crores in the previous year quarter. However, changes in inventories resulted in an adverse impact of ₹28.84 crores compared to a favorable impact of ₹16.74 crores in Q3FY25. Employee benefit expenses remained relatively stable at ₹31.53 crores, while CIRP costs continued at ₹5.80 crores for the quarter.

Going Concern and Financial Position

The company faces significant financial distress with accumulated losses of ₹1,407.59 crores as of December 31, 2025, resulting in negative net worth. The auditors have expressed material uncertainty regarding the company's ability to continue as a going concern, noting that the company may be unable to realize its assets and discharge its liabilities in the normal course of business.

CIRP Status and Legal Proceedings

Bloom Dekor Limited has been under CIRP since October 11, 2023, following an order by the National Company Law Tribunal (NCLT) Ahmedabad Bench. CA Vineeta Maheshwari serves as the Resolution Professional. The Resolution Professional had submitted a resolution plan to the NCLT Ahmedabad bench, which was remanded back for consideration by the Committee of Creditors. The successful resolution applicant had challenged this order before the National Company Law Appellate Tribunal (NCLAT), which granted a stay. Subsequently, following the withdrawal of the appeal, the Resolution Professional is taking further steps in the matter.

Regulatory and Compliance Issues

The company faces several compliance challenges, including outstanding foreign currency trade payables of ₹143.44 crores to foreign suppliers for more than three years as of December 31, 2025. The Resolution Professional is evaluating appropriate action for compliance with the Foreign Exchange Management Act, 1999. Additionally, the company has not made provisions for interest on Inter Corporate Deposits taken from Non-Banking Financial Companies, which would have increased the quarterly loss by ₹1.12 crores if accounted for properly.