Astron Paper & Board Mill Limited has informed regarding Disclosure of material issue-Intimation under Regulation 30 SEBI (LODR) Regulations, 2015 - Receiptof Possession Notice
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Astron Paper & Board Mill has received a possession notice dated 23 September 2025 from the Authorized Officer of Union Bank of India (on behalf of Axis Bank, ICICI Bank, Bank of Maharashtra, and State Bank of Mauritius) under Section 13(12) of the SARFAESI Act, 2002. The lenders are moving to take physical possession of the company's factory land and buildings spread across multiple survey numbers in village Sukhpar, Taluka Halvad, Surendranagar district, Gujarat — effectively the core operating assets of the company. The total area under possession notice includes several plots covering factory premises and land parcels. The company has stated it is evaluating the implications and will take appropriate steps based on legal advice, but has not indicated any stay or settlement at this stage.
This is a major negative event signalling serious loan defaults to a consortium of banks and risk of losing the company's primary factory assets, which could halt production and threaten going-concern status. Shareholders should expect sharp negative stock price reaction and heightened risk of further financial distress or insolvency proceedings.