VAS Infrastructure Limited has informed BSE that the National Company Law Tribunal (NCLT) Mumbai Bench will consider the resolution plan submitted by Authum Investment & Infrastructure Limited on March 20, 2026. This development follows the company's 23rd Committee of Creditors meeting held on February 26, 2026, as part of the ongoing Corporate Insolvency Resolution Process (CIRP).

NCLT Resolution Plan Consideration

The company issued a formal intimation under Regulation 30 of SEBI LODR on March 10, 2026, notifying that NCLT Mumbai Bench (Court-II) has scheduled the matter (IA no 41 of 2025) for March 20, 2026. The tribunal will consider the resolution plan submitted by Authum Investment & Infrastructure Limited under the Insolvency and Bankruptcy Code 2016.

Previous CoC Meeting Developments

The 23rd Committee of Creditors meeting was conducted on February 26, 2026, through video conferencing under the chairmanship of Resolution Professional Ashok Kumar Golechha. Canara Bank, holding the entire 100% voting share, participated with multiple officials including Assistant General Manager Rakeshchandra Shadilya and Chief Manager Seema Somkuwar.

NCLT Proceedings and Fraud Investigation

The CoC meeting had addressed critical NCLT proceedings, including an order dated February 3, 2026, which directed Canara Bank's Authorized Officer to appear in person before the tribunal. The bank was required to respond to queries regarding loan transactions and provide a Transaction Audit report through affidavit.

Canara Bank confirmed during the meeting that they had identified account fraud based on their internal investigation and would file necessary affidavits as per NCLT directions regarding fund diversion evidence.

Resolution Professional Details

The CIRP proceedings continue under Resolution Professional Ashok Kumar Golechha, registered with IBBI Reg. No. IBBI/IPA-002/IP-N000932/2019-20/12973. The resolution professional's AFA remains valid until December 31, 2026, ensuring continuity in the insolvency proceedings.

The upcoming NCLT hearing on March 20, 2026, represents a significant milestone in the company's insolvency resolution process, with the tribunal set to evaluate Authum Investment & Infrastructure Limited's proposed resolution plan.

VAS Infrastructure Limited has notified BSE regarding the upcoming consideration of its resolution plan by the National Company Law Tribunal (NCLT) Mumbai Bench. The company, currently undergoing Corporate Insolvency Resolution Process (CIRP), has scheduled a crucial hearing for March 06, 2026.

NCLT Hearing Details

The Hon'ble NCLT Mumbai Bench (Court-II) has posted the matter for March 06, 2026, to consider the resolution plan submitted by Authum Investment & Infrastructure Limited under the Insolvency and Bankruptcy Code 2016. The proceedings are identified as IA no 41 of 2025.

Regulatory Compliance

The intimation was issued pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification was signed by Ashok Kumar Golechha, the Resolution Professional overseeing the CIRP proceedings for VAS Infrastructure Limited.

Current Status

VAS Infrastructure Limited remains under CIRP with Ashok Kumar Golechha serving as the Resolution Professional. His IBBI registration number is IBBI/IPA-002/IP-N000932/2019-20/12973, with AFA validity until December 31, 2026. The company has advised that the hearing is subject to the cause list of the Hon'ble NCLT Mumbai Bench.

The resolution plan consideration represents a significant step in the insolvency proceedings, as the tribunal will evaluate Authum Investment & Infrastructure Limited's proposal for the corporate debtor's revival.