Aksh Optifibre cleared for insolvency after NCLT split decision
The NCLT Jaipur bench's third member upheld a creditor's insolvency petition. Aksh Optifibre has appealed to NCLAT, but creditor actions are mounting.
— 2 earlier stories on Aksh Optifibre Ltd. →What's new
- A third NCLT member ruled Shantanu Investments' insolvency petition against Aksh Optifibre is maintainable.
- The company has appealed to NCLAT, citing errors of fact and law.
- Creditors have already served SARFAESI notices and Bank of Baroda Dubai has demanded a bank guarantee.
Why this matters
The maintainability ruling is the first formal step toward a resolution process that could wipe out equity. For a company already facing multiple creditor actions, this decision crystallises the risk. The appeal is a stay, but not a solution.
What we're watching
- NCLAT's timeline to hear Aksh Optifibre's appeal.
- Whether other creditors file their own IBC petitions.
- The outcome of the Bank of Baroda Dubai guarantee demand.
The full read
Aksh Optifibre is heading for insolvency proceedings. Shantanu Investments filed a petition, the NCLT Jaipur bench split on it, and a third member finally ruled it maintainable. The company, with a market cap of just ₹116 crore, has appealed to the NCLAT. That appeal buys time but not a resolution. The insolvency move lands amid other creditor pressures: SARFAESI notices are already served, and Bank of Baroda Dubai is demanding a guarantee. For a nano-cap with a stretched balance sheet, each of these is a serious claim. The NCLT decision doesn't close the books, but it opens the door to a process where equity holders typically lose everything.
Questions answered
- What exactly did the NCLT rule?
- After an initial split, a third member ruled that the insolvency petition filed by creditor Shantanu Investments is legally maintainable. This clears the path for the formal Corporate Insolvency Resolution Process to begin.
- Why was the decision delayed?
- The initial two-member NCLT Jaipur bench delivered split opinions, which triggered an automatic referral to a third member to break the deadlock. The third member sided with the technical member to declare the petition maintainable.
- What is Aksh Optifibre's next move?
- The company has filed an appeal with the NCLAT, arguing the decision contains errors of fact and law. This appeal acts as a temporary stay against the insolvency process proceeding.
- Is this the company's only financial problem?
- No. The filing states Aksh Optifibre is also dealing with SARFAESI notices from lenders and a bank guarantee demand from Bank of Baroda Dubai, indicating wider financial stress.
Aksh Optifibre Ltd.
Latest quarter · Mar 2026
Strength & growth
Story so far
All notes on AKSHOPTFBR →- 10 Jun 2026 · 2:41 PM IST Aksh Optifibre cleared for insolvency after NCLT split decision
- 28d ago Aksh Optifibre wins NCLAT stay on insolvency, ₹3.33 cr repayment plan
- 38d ago Aksh Optifibre forced into insolvency on ₹2 crore claim