Astron Paper invites resolution plans as sales collapse to ₹72.5 lakh
The resolution professional has called for expressions of interest by July 25, but with no employees and negligible production, the chances of a viable bid are slim.
— 2 earlier stories on Astron Paper & Board Mill Ltd. →What's new
- Resolution professional issued Form G inviting EoI for resolution plans under IBC.
- Company has no employees and sold just 280 tonnes of kraft paper in FY26.
- Deadline for EoI is 25 July; no concrete bidder interest disclosed yet.
Why this matters
The size and viability of any resolution plan will hinge on whether a buyer can restart operations from scratch. With zero employees and a debt pile of ₹87.61 crore in defaulted loans, the business has effectively stopped. The slim revenue of ₹72.5 lakh from 280 tonnes makes revival uncertain.
What we're watching
- Number and quality of EoIs received by 25 July.
- Whether any bidder has experience in paper manufacturing or intends to liquidate assets.
- Timeline for final resolution plan submission by September 2026.
The full read
Astron Paper has been under corporate insolvency resolution since May. Its resolution professional has now invited expressions of interest, due on 25 July. The company sold just 280 tonnes of kraft paper in the year to March 2026, worth ₹72.5 lakh, compared with 29,800 tonnes a year earlier. It has zero employees. Its plants are shut. Loans worth ₹87.61 crore are classified as NPAs. The resolution process is moving, but the business has effectively stopped. The market capitalisation is ₹19 crore. Whether a buyer emerges with a viable plan is the open question. The deadline for binding resolution plans is September 2026. With no material operations to salvage, the IBC process may well end in liquidation.
Questions answered
- What is Form G in the IBC process?
- Form G is a public notice issued by the resolution professional inviting expressions of interest from potential resolution applicants, marking a formal step in the corporate insolvency resolution process.
- When is the deadline for submitting expressions of interest?
- The last date for receipt of expressions of interest is 25 July, as per the Form G issued on 9 July.
- What happened to Astron Paper's operations?
- The company has no employees and sold only 280 tonnes of kraft paper (worth ₹72.5 lakh) in the year to March 2026, down drastically from 29,800 tonnes a year earlier. All plants are shut.
- How much debt does Astron Paper have?
- Total bank loan defaults of ₹87.61 crore are now classified as NPAs, according to the auditor's disclaimer from June 2026.
- Are there any bidders yet?
- The disclosure does not indicate any concrete bidder interest or binding outcome. The resolution professional is still at the EoI stage.
Astron Paper & Board Mill Ltd.
Latest quarter · Mar 2026
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Story so far
All notes on ASTRON →- 28 Jul 2026 · 5:25 PM IST Astron Paper invites resolution plans as sales collapse to ₹72.5 lakh
- 57d ago Astron Paper's auditor issues disclaimer. All plants are shut, loans are defaulted.
- 57d ago Astron's auditor disclaims opinion; revenue fell to ₹6.69 lakh