Astron Paper & Board Mill Limited
Astron Paper and Board mill Ltd is a paper manufacturing company. It is engaged in the manufacturing of Kraft Paper from waste paper.
What Astron files
- Others41
- Important15
- Board Meeting12
- Updates11
- Results7
- Credit Ratings1
Astron Paper & Board has entered insolvency proceedings (CIRP) over an operational debt of ~Rs. 1.78 Cr. Its Board is suspended; an Interim Resolution Professional now manages the company. A moratorium is in effect.
Astron Paper's secured assets are facing an e-auction by Union Bank of India and other banks due to an outstanding debt of ₹83.07 Cr. This signals severe financial distress for the company.
Balaram Papers, a wholly-owned subsidiary, announced its statutory auditors resigned, effective December 31, 2025. Auditors cited increased compliance efforts and the subsidiary's management failing to provide timely documents for audit. This signals potential governance and transparency concerns for investors.
Astron Paper's ICICI Bank account will not be classified as fraud. The bank confirmed this after reviewing company submissions, removing a potential financial and reputational overhang.
Astron Paper's subsidiary, Balaram Paper, repaid Canara Bank loans, closing accounts. It re-possessed its property, plant, machinery, and inventories, enhancing operational control and financial flexibility.