Please find enclosed herewith copy of intimation for your reference.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 3.3 pts less than Nifty Microcap 250 and 1.9 pts less than its Trading & Distributors peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The National Company Law Tribunal (NCLT), New Delhi Bench, admitted a Corporate Insolvency Resolution Process (CIRP) application against A.F. Enterprises Limited via its order dated 25th April, 2025. The company has informed the stock exchange that it is aggrieved by this order and believes there are valid legal and factual grounds to challenge it. Accordingly, the company is in the process of filing an appeal before the National Company Law Appellate Tribunal (NCLAT) or another appropriate forum under the Insolvency and Bankruptcy Code, 2016. This is a continuation of an earlier intimation dated 05th May, 2025. The company has stated it remains committed to protecting stakeholder interests and will update the exchange on further developments.
The admission of CIRP is a serious event — it typically triggers a freeze on asset sales and suspends board powers, with an insolvency resolution professional taking over. Until the appeal is decided, the stock remains under overhang risk, and shareholders face significant uncertainty about recovery and the company's future.