Further to our intimation made on 28th March, 2026 on pronouncement of NCLT order, certified copy of the order is received.
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CIAN Agro Industries has received the certified copy of the NCLT Mumbai Bench order approving its Resolution Plan for Shubhada Tool Industries Private Limited, which was under the IBC (Insolvency and Bankruptcy Code) process. The company had already intimated the stock exchange on 28th March, 2026 about the pronouncement of the NCLT order. This marks a significant milestone as the resolution plan has been officially sanctioned by the tribunal. CIAN Agro was bidding to acquire Shubhada Tool Industries through the insolvency resolution process. The company is listed on BSE with Scrip Code 519477.
This is a positive development as it confirms the successful acquisition of an insolvency asset under the IBC process. The resolution plan approval strengthens CIAN Agro's business expansion, though the financial details and impact on company valuation are yet to be disclosed.