Astron Paper & Board Mill Faces Asset Possession by Union Bank of India
Astron Paper & Board Mill Limited has received a possession notice from Union Bank of India for nine properties across Gujarat, totaling approximately 178,000 square meters. The notice, dated October 17, 2025, is issued under the SARFAESI Act, 2002. The affected properties include factory lands, office spaces, and plots in various locations. Astron Paper is evaluating the implications and considering legal steps. This disclosure was made in compliance with SEBI LODR Regulations.
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Astron Paper & Board Mill Limited , a paper manufacturing company, has recently received a possession notice from Union Bank of India for multiple properties across Gujarat. This development comes as part of the bank's actions under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
Details of the Possession Notice
The possession notice, dated October 17, 2025, outlines the bank's intention to take control of nine properties owned by Astron Paper & Board Mill. These properties include factory lands, office spaces, and plots, totaling approximately 178,000 square meters. The affected assets are spread across various locations in Gujarat, including:
| Location | Property Type | Area (sq. meters) |
|---|---|---|
| Sukhpar village, Halvad | Plot of Land | 11,028.00 |
| Sukhpar village, Halvad | Plot of Land | 12,950.00 |
| Sukhpar village, Halvad | Land & Building | 45,224.00 |
| Ahmedabad | Office Space | 333.46 |
| Sukhpar village, Halvad | N.A. Land | 30,049.00 |
| Chubadak village, Bhuj | Land & Building | 17,600.00 |
| Ahmedabad | Office Space | 140.43 |
| Sukhpar village, Halvad | Factory Land | 14,670.00 |
| Sukhpar village, Halvad | Factory Land | 46,094.00 |
Company's Response
In response to this notice, Astron Paper & Board Mill has stated that it is currently evaluating the implications of this action. The company has indicated its intention to take appropriate legal steps based on the advice it receives.
Regulatory Compliance
The company has made this disclosure in compliance with Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. This regulation mandates listed entities to inform stock exchanges about material events that may affect their operations.
Impact on Stakeholders
While the full impact of this development remains to be seen, it could potentially affect the company's operations and financial position. Stakeholders, including investors and employees, will likely be watching closely for further updates from the company regarding its response to this situation and any potential impact on its business activities.
As the situation unfolds, more information may become available about the circumstances leading to this action by Union Bank of India and the company's strategy to address these challenges. Stakeholders are advised to stay informed about any further announcements from Astron Paper & Board Mill Limited or relevant regulatory bodies.
Historical Stock Returns for Astron Paper & Board Mill
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +3.71% | +2.51% | -19.56% | -21.58% | -47.27% | -77.57% |
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