Intimation of Order passed by Hon''ble NCLAT, Principal Bench, New Delhi.
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Cosmic CRF Ltd informed BSE about an NCLAT order dated October 10, 2025, in a matter where it is a Prospective Resolution Applicant (PRA) for Amzen Transportation Industries Ltd under the Insolvency and Bankruptcy Code. Cosmic CRF had sought to set aside the Form G (invitation for Expression of Interest) and stay the ongoing Corporate Insolvency Resolution Process (CIRP), arguing that its eligibility under Section 29A of the IBC was wrongly questioned. The NCLAT has directed the Resolution Professional to continue finalising the EOIs (11 have already been received) and collecting resolution plans (last date November 19, 2025), but ruled that any resolution plan received shall NOT be opened or placed before the Committee of Creditors without further NCLAT direction. The next hearing is fixed for October 27, 2025, when Cosmic CRF's eligibility under Section 29A will be reconsidered.
This is a partial win for Cosmic CRF — the resolution process for Amzen Transportation has been effectively frozen at the critical final stage, preserving Cosmic CRF's chance to be considered as a valid resolution applicant if it successfully challenges its ineligibility. Major creditors (UCO Bank with 53.31% and Prudent ARC with 41%) have supported maintaining status quo, which is a positive signal. However, the underlying eligibility question under Section 29A remains undecided, keeping uncertainty around Cosmic CRF's participation in the Amzen resolution alive.