Astron Paper & Board Mill Limited board of directors convened on December 23, 2025, to approve several important corporate matters under SEBI listing regulations. The meeting, which commenced at 1:15 PM and concluded at 1:50 PM, addressed key appointments and operational changes for the paper manufacturing company.

Statutory Auditor Appointment

The board approved the appointment of M/s HK Shah & Co., Chartered Accountants (FRN: 109583W), Ahmedabad, as the company's statutory auditor. This appointment remains subject to shareholder approval at the ensuing general meeting.

Independent Director Addition

The board also approved the appointment of Ms. Jankiben Patel (DIN: 09183490) as an independent director of the company. Similar to the auditor appointment, this decision requires shareholder approval at the upcoming general meeting.

Registered Office Relocation

Due to the sealing of current registered office premises by Union Bank, the board approved shifting the registered office within the local limits of Ahmedabad, Gujarat. The relocation details are as follows:

Property Sale Transaction

The company completed the sale of freehold property consisting of plots at Umiya Township, Halvad. The proceeds from this property sale were utilized for bank payments and meeting statutory payment requirements.

Regulatory Compliance

The company confirmed that necessary filings with the Registrar of Companies and other statutory authorities will be made in due course. This announcement was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Astron Paper & Board Mill's board has taken these significant steps to strengthen its governance and operational structure. The appointment of HK Shah & Co. as the statutory auditor and Jankiben Patel as an independent director, both subject to shareholder approval, demonstrates the company's commitment to maintaining robust financial oversight and diverse leadership. These appointments, along with the office relocation, mark important developments in the company's corporate governance and operational strategy.

Astron Paper & Board Mill Limited has disclosed that Canara Bank's Asset Recovery Management Branch has issued an e-auction sale notice dated November 21, 2025, for assets belonging to its wholly-owned subsidiary, Balaram Papers Private Limited, under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002.

E-Auction Notice Details

The bank has initiated the e-auction process under the provisions of the SARFAESI Act, 2002 read with the Security Interest (Enforcement) Rules, 2002. The notice targets specific assets of the subsidiary company for recovery purposes.

Assets Subject to Auction

The properties scheduled for e-auction include:

The industrial property encompasses approximately 10,217 square meters of land designated for industrial purposes, along with the plant and machinery installed on the premises.

Company's Response and Legal Compliance

Astron Paper & Board Mill Limited has stated that it is currently evaluating the implications of this e-auction notice. The company plans to take appropriate steps based on legal advice received regarding the matter.

The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has duly informed both the National Stock Exchange of India Ltd and BSE Limited about this development to keep stakeholders informed.

Market Implications

This e-auction notice under the SARFAESI Act indicates potential loan default issues at the subsidiary level. The Act empowers banks and financial institutions to auction properties for loan recovery in cases of default. Investors should monitor further developments as this situation could impact the company's financial position and subsidiary operations.