NCLT admits insolvency case, CIRP begins for Aksh Optifibre
AKSHOPTFBR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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NCLT Jaipur has admitted the insolvency petition filed by Shantanu Investments against Aksh Optifibre under Section 7 of the IBC. The claim is Rs 2 crore principal plus interest, totaling about Rs 3.33 crore. The Technical Member's order admitting CIRP is now treated as the final order. An Interim Resolution Professional has been appointed, a moratorium is in effect, and IRP fee of Rs 1 lakh has been directed. This confirms the CIRP process disclosed earlier.
Very negative for shareholders. Moratorium restricts creditor actions, management may be superseded by the IRP, and equity value is at high risk.