Announced Fri, 25 Sept, 2026 · 17:56 IST

Promoter's IBC exit proposal rejected; insolvency process continues

NCLT admitted insolvencyRegulatory & Legal View source PDF Explain this filing

Price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+1.2%Reaction day

₹7.21

prior close

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announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-1.6%+2.8% vs market

On the reaction day the stock moved 2.8 pts more than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Sessions after the filingfrom the prior close

StockMarketvs market

Reaction day

+1.2-1.6+2.8

Next day

-3.7-0.6-3.2

-0.4-0.8+0.4

-4.7-2.1-2.6

-9.4-2.1-7.3

-9.4-0.8-8.6

-12.6-3.8-8.8

15d

-0.1-6.9+6.8

-5.7-8.0+2.3

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UpDownMarket · Nifty Microcap 250Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

VAS Infrastructure remains under Corporate Insolvency Resolution Process (CIRP) since the NCLT order dated March 11, 2024. Promoter Jayesh Valia submitted a Section 12A proposal to Canara Bank on September 23, 2026, seeking settlement of dues and withdrawal of CIRP. Canara Bank, the sole secured financial creditor holding 100 percent voting share in the CoC, rejected the proposal on September 24, 2026. A new Resolution Professional, Mr. Bimal Kumar Agarwal, was appointed by NCLT on August 13, 2026. The CIRP will continue under IBC provisions.

Likely market impact

Promoter's last-ditch settlement bid has failed. CIRP continues, prolonging uncertainty for shareholders and risking further erosion of equity value.