Raama Paper Mills Limited's Resolution Professional has received two resolution plans from shortlisted bidders as part of the ongoing Corporate Insolvency Resolution Process (CIRP). The development was communicated to the Bombay Stock Exchange, marking a significant step in the company's insolvency proceedings.

NCLT Directions and Fresh Bidding Process

The submission of new resolution plans follows specific directions issued by the Hon'ble National Company Law Tribunal, Prayagraj Bench. The tribunal instructed the Committee of Creditors (CoC) to reconsider resolution plans from unsuccessful resolution applicants by allowing them to enhance their offers or consider adopting an open bidding process to provide fair opportunities to all shortlisted bidders.

Corrected Resolution Applicants List

In a follow-up communication dated 03.04.2026, the company issued a correction to its previous intimation. The company clarified that the list of Resolution Applicants had been erroneously omitted from the earlier communication. The corrected list of Resolution Applicants now includes:

This correction was signed by CS Himanshu Duggal, Company Secretary (ACS-31026), and digitally authenticated on 03.04.2026.

Committee of Creditors Review

The two resolution plans received by the Resolution Professional have been formally presented to the 14th meeting of the Committee of Creditors, which was held on 01.04.2026. This presentation marks the beginning of the evaluation process for the submitted proposals.

Regulatory Compliance

The intimation was made in accordance with Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, specifically under sub-clause 16(i) of Clause A of Part A of Schedule III. Resolution Professional Sandeep Kumar Agarwal, registered under IBBI Reg No.: IBBI/IPA-001/IP-P01135/2018-19/11828, signed the original disclosure document.

The development represents a crucial phase in the CIRP proceedings for Raama Paper Mills Limited, as the Committee of Creditors will now evaluate the received resolution plans to determine the most suitable option for the corporate debtor's revival.

Rama Paper Mills Limited has announced a board meeting to review its third-quarter financial performance for FY26. The company issued a formal notice on February 6, 2026, informing stakeholders about the upcoming board deliberations scheduled for February 13, 2026.

Board Meeting Details

The board meeting is scheduled to convene on Friday, February 13, 2026, at 04:00 P.M. at the company's Corporate Office located at 307, Rattan Jyoti Building, 18, Rajendra Place, New Delhi-110008. The meeting has been organized in compliance with Regulation 29(1)(a) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Meeting Agenda

The board will primarily focus on considering and approving the unaudited financial results for the quarter ended December 31, 2025. The agenda also includes provisions for any other matters as permitted by the Chair during the proceedings.

Trading Window Restrictions

In accordance with the company's Code of Conduct for prevention of Insider Trading, Raama Paper Mills Limited has implemented immediate trading window restrictions. The trading window for dealing in securities of the company has been closed for all directors, officers, and designated employees with immediate effect. The restriction will remain in place until 48 hours after the announcement of the unaudited financial results for the quarter ended December 31, 2025.

Resolution Professional Authority

The meeting is being convened under special circumstances, as noted in the company's notice. Following an order dated June 7, 2024, and in line with the provisions of the Insolvency and Bankruptcy Code, 2016, the powers of the Board of Directors have been suspended. The Resolution Professional is exercising the powers of the Board of Directors as vested under Section 17 of the Insolvency and Bankruptcy Code, 2016, and is convening this meeting to discharge these responsibilities to the limited extent permitted.

Company Information

Raama Paper Mills Limited, formerly known as Rama Paper Mills Limited, operates in the paper and board manufacturing sector. The company maintains its registered office and works at 4th km Stone, Najibabad Road, Kiratpur-246731, District Bijnor, Uttar Pradesh, while its corporate office is situated in New Delhi. The notice was signed by Himanshu Duggal, Company Secretary, on February 6, 2026.