Intimation under Regulation 30 SEBI (LODR) Regulations, 2015 - Receipt of Possession Notice
ASTRON · price
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Astron Paper & Board Mill Limited has informed the stock exchanges that it has received a Possession Notice, typically issued by a lender or secured creditor under the SARFAESI Act after a loan default. This means the lender has initiated steps to take over the company's secured assets as recovery for unpaid dues. The company has not disclosed the lender's name or the outstanding amount in the headline, which itself is a concern for investors. Possession notices usually follow a period of missed repayments and classification of the loan as a non-performing asset (NPA). Shareholders should watch for further disclosures detailing the lender, amount owed, and assets involved.
This is a strongly negative event signalling serious financial stress and possible loss of control over key assets, likely weighing heavily on the stock price and eroding shareholder value.