Lenders to auction Astron Paper assets over Rs 83 crore default under SARFAESI Act

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AI summary

Union Bank of India along with other lenders (Bank of Maharashtra, ICICI Bank, Axis Bank, SBM) has issued an E-Auction Sale Notice for Astron Paper's secured assets under the SARFAESI Act. Secured debt stands at about Rs 83.07 crore as on 31 Dec 2025. Assets up for auction on 13 March 2026 include offices in Ahmedabad, industrial land, plant and machinery at the Halvad factory, and a property in Bhuj. This action signals a serious loan default by the company.

Likely market impact

Very negative. Lenders are auctioning company assets to recover about Rs 83 crore of defaulted debt, raising serious concerns about business continuity and shareholder value.