NewsSupreme Court Upholds Cosmic CRF's Eligibility to Participate in CIRP Proceedings, Sets Aside NCLAT OrderSupreme Court Upholds Cosmic CRF's Eligibility to Participate in CIRP Proceedings, Sets Aside NCLAT Order
The Supreme Court of India, in its order dated 14th May 2026, held Cosmic CRF Limited eligible to participate in the CIRP of the Corporate Debtor in Civil Appeal Nos. 4266-4267/2026. The apex court set aside the NCLAT's earlier judgment in IA Nos. 4810 and 5968 of 2025 dated 12.03.2026 in Company Appeal (AT) (Insolvency) No. 859/2025. The company disclosed this ruling to BSE Limited on 16th May 2026 under Regulation 30 of SEBI (LODR) Regulations, 2015, with the court indicating that detailed reasons would follow in a separate order.
*this image is generated using AI for illustrative purposes only.
The Hon'ble Supreme Court of India delivered a significant ruling on 14th May 2026 in favour of Cosmic CRF Limited, holding the company eligible to participate in the Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor. The matter, titled Cosmic CRF Limited vs. Myotic Trading Private Limited & Ors., was heard under Civil Appeal Nos. 4266-4267/2026 before a bench comprising Hon'ble Mr. Justice J.B. Pardiwala and Hon'ble Mr. Justice Ujjal Bhuyan.
Supreme Court Order: Key Details
The following table summarises the key details of the Supreme Court proceedings:
| Parameter: | Details |
|---|---|
| Case Title: | Cosmic CRF Limited vs. Myotic Trading Private Limited & Ors. |
| Civil Appeal Nos.: | 4266-4267/2026 |
| Date of Order: | 14th May 2026 |
| Bench: | Hon'ble Mr. Justice J.B. Pardiwala & Hon'ble Mr. Justice Ujjal Bhuyan |
| Impugned Order: | NCLAT, New Delhi — IA Nos. 4810 and 5968 of 2025 dated 12.03.2026 |
| NCLAT Appeal No.: | Company Appeal (AT) (Insolvency) No. 859/2025 |
| Outcome: | Appeals allowed; Cosmic CRF held eligible to participate in CIRP |
Background and Earlier Disclosures
The development follows earlier disclosures made by Cosmic CRF to BSE Limited vide Letter Ref No. CCL/BSE/2025-2026/50 dated 13.03.2026 and Ref No. CCL/BSE/2025-2026/54 dated 25.03.2026. The company, acting as the Resolution Applicant in the insolvency matter, had challenged the NCLAT's judgment that had previously ruled against its eligibility to participate in the CIRP of the Corporate Debtor.
Supreme Court's Ruling
In its order, the Supreme Court allowed the appeals and set aside the judgment of the National Company Law Appellate Tribunal. The court specifically held Cosmic CRF eligible to participate in the CIRP of the Corporate Debtor. The bench noted that detailed reasons for the ruling would follow by way of a separate order. The appellant was represented by senior counsel Mr. Shyam Divan, among others, while respondents included Myotic Trading Private Limited, the Resolution Professional, and Prudent ARC Limited.
Regulatory Disclosure
Cosmic CRF disclosed the Supreme Court's order to BSE Limited on 16th May 2026 under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made by R P Mandal, Chief Financial Officer of the company, and a copy of the Supreme Court order was enclosed with the filing for reference by stakeholders and the exchange.
Historical Stock Returns for Cosmic CRF
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +5.00% | +6.64% | -2.47% | -33.35% | -36.13% | +256.97% |
How might Cosmic CRF's successful resolution plan for the Corporate Debtor impact its balance sheet and future revenue streams once the CIRP concludes?
What precedent does this Supreme Court ruling set for other resolution applicants who have faced similar eligibility challenges at the NCLAT level?
How could Cosmic CRF's participation in the CIRP affect the recovery prospects for existing creditors, including Prudent ARC Limited, of the Corporate Debtor?
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