Astron Paper fails to file Q1 results; management non-cooperation under CIRP
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Astron Paper and Board Mill, under CIRP since May 11, 2026 with Resolution Professional Atul J Sheth, could not finalize Q1 (June 30, 2026) financial results within the deadline. Statutory auditors couldn't complete review due to missing books and records. Some prior period transactions lacked proper documentation. Suspended management has not cooperated, prompting a Section 19(2) IBC application at NCLT Ahmedabad seeking directions.
Delayed financial reporting and non-cooperation by suspended management may worsen insolvency outcomes, hurting shareholder and creditor recovery prospects.