NCLAT stays insolvency process; company operations to continue under IRP supervision

Court Stay ObtainedNclt Insolvency AdmittedRegulatory & Legal View source PDF

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AI summary

NCLAT stayed the insolvency process against Aksh Optifibre after the promoter appealed NCLT's CIRP admission order dated June 20, 2026. NCLAT directed the Interim Resolution Professional not to take further steps on the insolvency order. The company will continue operating under IRP supervision with the promoter's assistance. Promoter offered to deposit about Rs 3.33 crore (principal plus interest) in two installments over six weeks. Next hearing on August 6, 2026.

Likely market impact

Positive relief as insolvency proceedings are paused and operations continue, though final resolution still depends on NCLAT's decision.