Aksh Optifibre forced into insolvency on ₹2 crore claim
NCLT admits the optical-fibre maker to CIRP; moratorium declared. Company already battling SARFAESI actions and a ₹69 cr bank guarantee demand.
— 1 earlier story on Aksh Optifibre Ltd. →What's new
- NCLT Jaipur admits Aksh Optifibre to CIRP on Shantanu Investments' petition.
- Moratorium under IBC Section 14 declared; interim resolution professional appointed.
- Company faces multiple lender lawsuits including Union Bank, HDFC, and a ₹69 cr Bank of Baroda guarantee demand.
Why this matters
A mere ₹2 crore claim topples a ₹123 crore market-cap company with a debt-to-equity ratio of 6.93. Insolvency formalizes what creditor actions already signalled: equity holders likely face total loss. The earlier NCLAT appeal against maintainability buys no relief now.
What we're watching
- Whether the company appeals the admission at NCLAT.
- How lenders, especially Bank of Baroda with its ₹69 cr claim, act in the committee of creditors.
- The IRP's initial assessment: is Aksh Optifibre viable as a going concern?
The full read
Aksh Optifibre is now formally in insolvency. The NCLT Jaipur bench admitted a ₹2 crore claim from Shantanu Investments Private Limited, triggering a Corporate Insolvency Resolution Process (CIRP). A moratorium is in place, and an interim resolution professional has taken control. The company, with a market cap of ₹123 crore and debt-to-equity of 6.93, was already under severe strain: Union Bank and HDFC Bank had initiated SARFAESI actions, and Bank of Baroda Dubai demanded a ₹69 crore bank guarantee. Aksh Optifibre had challenged the maintainability of the petition at NCLAT, but the written order from that appeal is still pending. The ₹2 crore trigger looks small, but it reflects a company that couldn't satisfy even a modest creditor claim. For equity holders, this admission likely marks the end of value. The IRP will now assess viability, but with a mountain of debt and competing creditors, a quick resolution seems unlikely.
Questions answered
- Who filed the insolvency petition against Aksh Optifibre?
- Shantanu Investments Private Limited, a financial creditor, filed a Section 7 petition for an outstanding claim of ₹2 crore plus interest.
- What does CIRP admission mean for the company?
- The company enters a moratorium, an interim resolution professional takes over management, and creditors form a committee to decide its fate — either a resolution plan or liquidation.
- How much total debt does Aksh Optifibre carry?
- Exact total is not disclosed, but trailing debt-to-equity stands at 6.93. Specific claims include Union Bank and HDFC bank SARFAESI actions and a ₹69 crore bank guarantee demand from Bank of Baroda Dubai.
- Can the company still be saved from liquidation?
- Yes, if the committee of creditors approves a resolution plan that pays creditors adequately. However, given the high leverage and multiple creditor actions, a successful resolution is uncertain.
- What happens to Aksh Optifibre's shareholders?
- Equity value is likely to be wiped out as the CIRP prioritizes creditor recoveries. Shares may be suspended or delisted depending on the outcome.
Aksh Optifibre Ltd.
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All notes on AKSHOPTFBR →- 20 Jun 2026 · 12:03 PM IST Aksh Optifibre forced into insolvency on ₹2 crore claim
- 10d ago Aksh Optifibre cleared for insolvency after NCLT split decision