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.

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.