Astron Paper & Board Mill Limited has received confirmation from ICICI Bank Limited that its account will not be classified as fraud, providing significant relief to the company and its stakeholders.

Bank Communication Details

The company received official communication from ICICI Bank Limited dated November 26, 2025. The bank confirmed its decision after conducting a thorough review of the company's submissions and completing its internal assessment process.

Regulatory Compliance

Astron Paper & Board Mill Limited disclosed this development to both BSE Limited and National Stock Exchange of India Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made on January 21, 2026, and was signed by Managing Director Kirit Patel.

Stakeholder Communication

The company emphasized that this disclosure was made to keep stakeholders informed about the outcome of the proceedings. The positive resolution provides clarity regarding the company's banking relationship status and removes any uncertainty that may have existed regarding the account classification.

Management Statement

The communication was officially signed by Kirit Patel, Managing Director of Astron Paper & Board Mill Limited, with DIN 03353684. The disclosure demonstrates the company's commitment to transparency and regulatory compliance in keeping investors and stakeholders updated on material developments.

Astron Paper & Board Mill Limited has informed stock exchanges about a significant development involving its wholly-owned subsidiary company. Balaram Paper Private Limited has successfully completed the repayment of all outstanding dues to Canara Bank, resulting in the closure of loan accounts and recovery of secured assets.

Loan Account Closure Details

The subsidiary company has achieved complete financial closure with Canara Bank's Asset Recovery Management Branch located at GIFT City, Gandhinagar. The bank has issued a No Dues Certificate dated December 29, 2025, which officially confirms the closure of all credit facilities that were previously sanctioned to Balaram Paper Private Limited.

Asset Recovery and Possession

Following the complete repayment of dues, Balaram Paper Private Limited has successfully regained physical possession of its secured assets from Canara Bank. The company received possession of its immovable property on December 31, 2025, as per the possession notice dated October 11, 2025.

The recovered assets include:

• Immovable property located at Survey No. 258, Mouje Ganeshpura, Tehsil Kadi, District Mehsana, Gujarat
• Plant and machinery
• Inventories

Regulatory Compliance

The company has made this disclosure in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was made on January 21, 2026, to inform stakeholders about the subsidiary's successful loan closure and asset recovery.

This development represents a positive milestone for the subsidiary company, as it has cleared all outstanding financial obligations with the bank and regained control of its operational assets. The recovery of plant, machinery, and inventories along with the immovable property provides the subsidiary with renewed operational capabilities.