Cosmic CRF , a company embroiled in legal proceedings related to its eligibility as a resolution applicant, has taken a significant step in its ongoing case before the National Company Law Tribunal (NCLT), New Delhi Bench.

Key Developments

• Affidavit Filing: On October 9, 2025, Cosmic CRF filed an affidavit with the NCLT, New Delhi Bench.
• Purpose: The affidavit addresses concerns about the company's eligibility under Section 29A of the Insolvency and Bankruptcy Code, 2016.
• Compliance: This action is in compliance with the NCLT's order dated September 25, 2025, which directed the company to file the affidavit within two weeks.

Case Background

The case involves Cosmic CRF versus Myotic Trading Private Limited & Others in the matter of Amzen Transportation Industries Ltd's insolvency resolution process. The NCLT had previously declared Cosmic CRF ineligible under Section 29A without providing the company an opportunity to be heard on this issue.

Legal Journey

1. Supreme Court Appeal: Cosmic CRF appealed to the Supreme Court against the NCLAT's judgment dated July 25, 2025.
2. Supreme Court Order: On August 4, 2025, the Supreme Court directed the matter back to NCLAT for reconsideration of factual errors.
3. NCLAT's Latest Order: On September 25, 2025, NCLAT granted Cosmic CRF two weeks to file their reply regarding eligibility under Section 29A.

Implications and Next Steps

• The filing of this affidavit is a crucial step for Cosmic CRF in its attempt to establish its eligibility as a resolution applicant.
• Other respondents in the case have been given additional time to respond to Cosmic CRF's submissions.
• The matter is scheduled for hearing on October 27, 2025, where the NCLT will consider the arguments presented in the affidavit and subsequent responses.

This development underscores the complexities involved in insolvency proceedings and the importance of procedural fairness in determining the eligibility of potential resolution applicants. The outcome of this case could have significant implications for Cosmic CRF's role in the insolvency resolution process of Amzen Transportation Industries Ltd.

As the case progresses, stakeholders will be closely watching how the NCLT interprets the eligibility criteria under Section 29A and whether Cosmic CRF can successfully establish its eligibility to participate in the resolution process.

Cosmic CRF Limited has announced that its subsidiary, Cosmic Springs & Engineers Limited (CSEL), is set to establish a new manufacturing plant for forging components under a greenfield project. The Board of Directors approved the proposed investment during a meeting held on May 23, 2025.

Project Details

The new manufacturing facility will be located in Domjur, District-Howrah, West Bengal, with a proposed installed capacity of approximately 11,000.00 TPA (Tonnes Per Annum). CSEL has acquired 0.82 acres of freehold industrial land for the project, with physical possession received on September 16, 2025.

Product Portfolio

The plant will manufacture iron and steel products, including railway and defense components such as:

• Yoke Pin Support
• Back-stop
• End Piece (Right & Left)
• Strut
• Lock Lift Liver Hook
• Universal Lock Lift Level Connector
• Toggle
• Knuckle Thrower
• Lock
• Casnub springs
• Other components related to railways and defense

Timeline and Implementation

Manufacturing operations are expected to commence within 6 months from the project's approval. The project is subject to completion of necessary regulatory formalities and shareholder approval.

About Cosmic Springs & Engineers Limited

CSEL, a 91.70% owned subsidiary of Cosmic CRF Limited, was incorporated on June 6, 2024. The company reported a turnover of Rs. 8.32 crores for the financial year 2024-25. CSEL is currently operating from its existing plant located at Jalan Industrial Complex, Baniara, Domjur, P.O. Begri, District: Howrah-711411, West Bengal.

Management and Ownership

Mr. Aditya Vikram Birla, Promoter and Managing Director, and Mrs. Purvi Birla, Whole-time Director of Cosmic CRF Limited, are also promoters of CSEL.

This expansion move by Cosmic CRF Limited through its subsidiary CSEL demonstrates the company's commitment to growth in the iron and steel products manufacturing sector, particularly in railway and defense components.