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Rs 1.77 Cr Q1 Loss; CoC Approves Ankoor Distillers' Resolution Plan for Impex Ferro Tech
Impex Ferro Tech reported zero revenue and a net loss of Rs 1.77 Cr for the quarter ended June 30, 2026, as operations remain suspended since October 2022. The critical development is the Committee of Creditors (CoC) approving a resolution plan by Ankoor Distillers Private Limited on July 24, 2026, which has been submitted to the NCLT. Auditors continue to highlight massive financial distress, including the non-provision of Rs 630.20 Cr in cumulative interest and a fully eroded net worth of Rs -322 Cr. The company's survival is entirely dependent on the NCLT's final approval of the resolution plan.
Confidence: HIGH
What changedThe insolvency process has reached a critical milestone with the CoC selecting and approving a specific resolution applicant (Ankoor Distillers) to take over the company.
Why it mattersWith zero revenue and liabilities far exceeding assets, the company cannot function as a going concern without this resolution plan; however, the financial benefit to retail shareholders remains highly uncertain.
Net Loss (Q1 FY27): Rs 1.77 CrUnprovided Interest: Rs 630.20 CrStatutory Dues Arrears: Rs 2.92 CrResolution Plan Bank Guarantee: Rs 21 CrNet Worth: Rs -322 Cr
📅 Short termThe stock may react to news regarding NCLT hearings for the approval of the resolution plan. Expect high volatility given the low market cap of Rs 30 Cr.
📈 Long termThe long-term viability depends on the successful implementation of the resolution plan by the new promoter and the potential restructuring of the Rs 268 Cr debt.
⚠ Risk flags
- Corporate Insolvency Resolution Process (CIRP) ongoing
- Potential 100% equity dilution or cancellation under resolution plan
- Manufacturing operations shut for nearly 4 years
- Massive unprovided interest liabilities
Key Highlights
CoC approved the resolution plan of Ankoor Distillers Private Limited on July 24, 2026, following the receipt of 6 total plans.
Reported zero revenue from operations for the quarter, consistent with the shutdown since October 2022 due to power disconnection.
Auditors flagged non-provision of cumulative interest expenses amounting to Rs 630.20 Cr (Rs 63,020.22 lakhs).
Undisputed statutory dues of Rs 2.92 Cr have been in arrears for more than six months as of June 30, 2026.
The company received 5 Earnest Money Deposits (EMDs) totaling Rs 5 Cr and one Bank Guarantee of Rs 21 Cr during the CIRP process.
👀 What to Watch
Monitor the NCLT Kolkata Bench for the final order on the Ankoor Distillers resolution plan. Investors must exercise extreme caution as equity shareholders often face significant dilution or total wipe-out in IBC resolution plans.
Resolution Plan for Impex Ferro Tech Submitted to NCLT for Final Approval
The Resolution Professional (RP) of Impex Ferro Tech has filed an application with the NCLT Kolkata Bench on August 7, 2026, seeking final approval for a resolution plan. This plan, submitted by M/s. Ankoor Distilleries Private Limited, was previously approved by the Committee of Creditors (CoC) on July 25, 2026. The company is currently in a dire financial state with zero operational revenue and a total debt of ₹268 Cr. The NCLT's decision will determine if the company can resume operations and what value, if any, remains for existing shareholders.
Confidence: HIGH
What changedThe Corporate Insolvency Resolution Process (CIRP) has moved from the creditor-voting stage to the final judicial approval stage with the NCLT.
Why it mattersThis is the only mechanism for the company to potentially restart its ferro alloy manufacturing, as it currently lacks working capital and has a suspended board. For investors, it represents the final stage of uncertainty regarding the value of their holdings.
Total Debt: ₹268 CrNet Worth: ₹-322 CrTTM Revenue: ₹0 CrNCLT Filing Date: August 7, 2026Market Cap: ₹28 Cr
📅 Short termThe stock may experience volatility based on speculation regarding the NCLT's approval timeline and the potential terms of the Ankoor Distilleries plan.
📈 Long termThe long-term survival of the business depends entirely on the implementation of the resolution plan; however, historical IBC cases suggest existing equity holders rarely benefit from such restructurings.
⚠ Risk flags
- Potential for 100% equity dilution or delisting
- Zero operational revenue
- Negative net worth exceeding market capitalization
- High debt-to-equity risk
Key Highlights
Resolution plan submitted by M/s. Ankoor Distilleries Private Limited has reached the final NCLT approval stage.
Application filed under Section 30(6) of the Insolvency and Bankruptcy Code on August 7, 2026.
Company reports ₹0 revenue for the last four consecutive quarters as operations remain suspended.
Total debt stands at ₹268 Cr against a deeply negative net worth of ₹-322 Cr.
The 22nd Committee of Creditors meeting concluded the voting process leading to this submission.
👀 What to Watch
Investors should closely monitor the NCLT Kolkata Bench's daily orders for the final sanction of the plan. It is critical to understand that resolution plans under IBC frequently involve massive equity dilution or delisting, which can result in total loss for retail shareholders.
100% CoC Approval for Ankoor Distilleries' Resolution Plan for Impex Ferro Tech
The Committee of Creditors (CoC) of Impex Ferro Tech has unanimously (100% vote) approved a resolution plan submitted by M/s Ankoor Distilleries Private Limited. This marks a critical milestone in the Corporate Insolvency Resolution Process (CIRP) for a company that currently reports zero revenue and a negative net worth of ₹322 Cr. The CoC also rejected liquidation proceedings, which received 0% of the vote. The Resolution Professional will now proceed with issuing a Letter of Intent to the successful applicant and seeking final NCLT approval.
Confidence: HIGH
What changedThe company has moved from an uncertain insolvency process to having a CoC-approved buyer (Ankoor Distilleries), avoiding immediate liquidation.
Why it mattersWith a net worth of -₹322 Cr and zero operations, this resolution plan is the only mechanism for the company to potentially restart its ferro alloy manufacturing, though existing equity value is at high risk.
CoC Approval Vote: 100.00%Total Debt: ₹268 CrNet Worth: -₹322 CrDebt to Market Cap Ratio: 12.18xResolution Plan Date: May 25, 2026
📅 Short termThe stock may see speculative activity following the 'rescue' news, but the outcome remains uncertain until NCLT provides final clearance.
📈 Long termIf approved by NCLT, the company may resume operations under new management, but the structural benefit to current retail shareholders is usually minimal in IBC cases.
⚠ Risk flags
- Extreme equity dilution risk
- Potential delisting
- Negative net worth of ₹322 Cr
- Zero operational revenue
Key Highlights
100.00% of the Committee of Creditors voted in favor of the resolution plan dated May 25, 2026.
Liquidation proceedings were rejected with 0.00% votes in favor, opting for business continuity.
The company carries a massive debt of ₹268 Cr against a current market capitalization of only ₹22 Cr.
Operational revenue has remained at ₹0 Cr for the last seven reported quarters.
The resolution plan was amended as recently as June 30, 2026, before the final vote.
👀 What to Watch
Investors should closely monitor the NCLT approval process and the specific terms of the resolution plan; typically, IBC resolutions involve significant equity dilution or delisting for existing shareholders.
Impex Ferro Tech 28th CoC Meeting: Discussion on Revised Bid from Eligible PRA
Impex Ferro Tech Limited, currently undergoing the Corporate Insolvency Resolution Process (CIRP), held its 28th Committee of Creditors (CoC) meeting on June 19, 2026. The meeting focused on discussing a revised bid received from an eligible Prospective Resolution Applicant (PRA). The session lasted 45 minutes, and minutes were circulated to relevant parties on June 20, 2026. This indicates the resolution process is reaching a critical stage where potential buyers are refining their offers for the company.
Key Highlights
28th Meeting of the Committee of Creditors (CoC) successfully convened on June 19, 2026.
The primary agenda was the discussion of a revised bid from an eligible Prospective Resolution Applicant (PRA).
The meeting was conducted by Resolution Professional Ashok Kumar Sarawagi.
Minutes of the meeting were circulated to stakeholders on June 20, 2026, at 17:45 hours.
👀 What to Watch
Investors should remain extremely cautious as the company is in insolvency; CIRP outcomes often lead to significant equity dilution or delisting. Monitor future announcements regarding whether the CoC accepts the revised bid and the subsequent NCLT approval process.
Impex Ferro Tech CoC Extends CIRP by 60 Days; Negotiates with Resolution Applicant
Impex Ferro Tech Limited held its 27th Committee of Creditors (CoC) meeting on June 17, 2026, as part of its ongoing Corporate Insolvency Resolution Process (CIRP). The CoC has noted a further 60-day extension to the CIRP timeline to allow for continued proceedings. A critical part of the meeting involved negotiations with a Resolution Applicant regarding their commercial offer for the company. This suggests the insolvency process is reaching a decisive stage in determining the company's future ownership.
Key Highlights
27th Meeting of the Committee of Creditors (CoC) successfully convened on June 17, 2026.
CIRP timeline extended by an additional 60 days to facilitate resolution.
Ongoing negotiations with the Resolution Applicant regarding the commercial offer for the Corporate Debtor.
Resolution Professional Ashok Kumar Sarawagi oversaw the proceedings and circulation of minutes on June 19, 2026.
👀 What to Watch
Investors should exercise extreme caution as the company is in insolvency; the final resolution plan will determine if there is any residual value for equity shareholders. Monitor for updates on whether the CoC accepts the Resolution Applicant's offer.
Impex Ferro Tech Schedules 28th Committee of Creditors Meeting for June 19, 2026
Impex Ferro Tech Limited, which is currently undergoing the Corporate Insolvency Resolution Process (CIRP), has convened its 28th Committee of Creditors (CoC) meeting. The meeting is scheduled for June 19, 2026, at 17:00 IST and will be conducted in a hybrid mode. This procedural step is part of the ongoing insolvency proceedings to determine the future of the company's debt and operations under the management of Resolution Professional Ashok Kumar Sarawagi.
Key Highlights
28th meeting of the Committee of Creditors (CoC) scheduled for June 19, 2026.
Company is currently undergoing Corporate Insolvency Resolution Process (CIRP).
Meeting to be held in hybrid mode (physical and virtual) at 17:00 IST.
Ashok Kumar Sarawagi is acting as the Resolution Professional with AFA valid until December 31, 2026.
👀 What to Watch
Investors should remain cautious as the company is in insolvency; the outcome of CoC meetings is critical in deciding between a resolution plan or liquidation. Monitor for further disclosures regarding the approval of any resolution bids.
Impex Ferro Tech Schedules 27th Committee of Creditors (CoC) Meeting
Impex Ferro Tech Limited, which is currently undergoing the Corporate Insolvency Resolution Process (CIRP), has scheduled its 27th Committee of Creditors (CoC) meeting for June 17, 2026. The meeting will be held at 15:15 IST in Kolkata through a hybrid mode, allowing both physical and virtual participation. This meeting is a mandatory disclosure under Regulation 30 of SEBI (LODR) Regulations. The proceedings are being managed by the Resolution Professional, Ashok Kumar Sarawagi, as the company seeks a resolution under the Insolvency and Bankruptcy Code.
Key Highlights
27th meeting of the Committee of Creditors (CoC) scheduled for June 17, 2026.
The company is currently undergoing Corporate Insolvency Resolution Process (CIRP).
Meeting to be conducted in hybrid mode (physical and virtual) at 15:15 Hrs IST.
Resolution Professional Ashok Kumar Sarawagi is overseeing the insolvency proceedings.
👀 What to Watch
Investors should closely monitor the outcomes of CoC meetings for any updates on the resolution plan or potential liquidation. Given the ongoing insolvency process, the stock remains highly speculative and carries significant risk.
Impex Ferro Tech 26th CoC Meeting: CIRP Period Extended by 90 Days; New Resolution Applicants Added
Impex Ferro Tech Limited held its 26th Committee of Creditors (CoC) meeting on May 29, 2026, regarding its ongoing insolvency process. The CoC approved a 90-day extension to the Corporate Insolvency Resolution Process (CIRP) timeline to facilitate a resolution. Furthermore, AIC Iron Industries Private Limited and Ankoor Distillers Private Limited have been included in the final list of Prospective Resolution Applicants (PRAs). The meeting also saw the approval of the company's financial results for the quarter and year ended March 31, 2026.
Key Highlights
CIRP timeline extended by a further 90 days to allow for resolution completion.
AIC Iron Industries Private Limited and Ankoor Distillers Private Limited added to the Final List of PRAs.
Approval of March 2026 Quarterly and Annual Financial Results by the CoC.
The 26th CoC meeting was conducted on May 29, 2026, and minutes were circulated on May 30, 2026.
👀 What to Watch
Investors should remain highly cautious as the company is under insolvency; the final resolution plan may result in significant equity dilution or delisting. Monitor the upcoming financial results and the progress of the newly added resolution applicants.
Impex Ferro Tech Reports Q4 FY26 Results Amid CIRP; Net Worth Fully Eroded
Impex Ferro Tech Limited, currently under the Corporate Insolvency Resolution Process (CIRP), reported its March 2026 results with a heavily qualified auditor's opinion. The company failed to provide for cumulative interest expenses of ₹63,020.22 lakhs, which would have deepened its negative equity to ₹103,977.61 lakhs if correctly accounted for. Operations at its Kalyanesheri plant have been shut since October 2022 due to power disconnection, and the company faces ₹292 lakhs in overdue statutory arrears. The auditor has highlighted material uncertainty regarding the company's ability to continue as a going concern.
Key Highlights
Non-provision of ₹63,020.22 lakhs in cumulative interest expense, significantly understating financial liabilities.
Net worth is fully eroded, with reported Other Equity at negative ₹40,957.39 lakhs.
Manufacturing operations have been shut down since October 2022 due to power disconnection by Damodar Valley Corporation.
Undisputed statutory dues of ₹292 lakhs are in arrears for more than six months as of March 31, 2026.
The company is under CIRP since May 2024, with all powers vested in the Resolution Professional.
👀 What to Watch
Investors should exercise extreme caution as the company is in insolvency proceedings and its net worth is completely eroded. Equity shareholders typically face total loss in such resolution processes, and the lack of operational activity further diminishes recovery prospects.
Impex Ferro Tech to Hold 26th CoC Meeting on May 29 Under Insolvency Process
Impex Ferro Tech Limited, which is currently undergoing the Corporate Insolvency Resolution Process (CIRP), has scheduled its 26th Committee of Creditors (CoC) meeting for May 29, 2026. The meeting will be held in a hybrid mode (physical and virtual) at 12:00 PM IST in Kolkata. This meeting is a critical step in the ongoing insolvency proceedings managed by Resolution Professional Ashok Kumar Sarawagi. Investors should be aware that the company's operations and future are currently under the control of the CoC and the Resolution Professional.
Key Highlights
26th Meeting of the Committee of Creditors (CoC) scheduled for May 29, 2026.
The company is currently undergoing Corporate Insolvency Resolution Process (CIRP).
Meeting to be conducted in hybrid mode (both physical and virtual) at 12:00 Hrs IST.
Resolution Professional Ashok Kumar Sarawagi is overseeing the process with AFA valid until December 31, 2026.
👀 What to Watch
Investors should exercise extreme caution as CIRP proceedings often lead to significant equity dilution or delisting. Closely monitor the outcomes of CoC meetings for any updates on resolution plans or potential liquidation.
Impex Ferro Tech 25th CoC Meeting: Finalizes Resolution Applicants and Seeks CIRP Extension
Impex Ferro Tech Limited, currently undergoing the Corporate Insolvency Resolution Process (CIRP), held its 25th Committee of Creditors (CoC) meeting on March 6, 2026. The meeting focused on finalizing the list of eligible Prospective Resolution Applicants and the Request for Resolution Plan (RFRP). Notably, the CoC approved filing an application for an extension of the CIRP timeframe with the NCLT, Kolkata. Additionally, CIRP costs incurred up to February 2026 were reviewed and approved as the process moves toward a potential resolution.
Key Highlights
25th CoC meeting successfully convened on March 6, 2026, to progress the insolvency process.
Finalized the list of eligible Prospective Resolution Applicants (PRAs) as per CIRP regulations.
Approved the Request for Resolution Plan (RFRP) and the evaluation matrix for potential bidders.
Authorized the filing of an application for an extension of the CIRP period with NCLT, Kolkata.
Approved CIRP-related costs incurred for the period ending February 2026.
👀 What to Watch
Investors should exercise extreme caution as the company is in insolvency, which often results in significant equity write-downs or delisting. Monitor the NCLT's decision on the CIRP extension and the eventual selection of a resolution applicant.
Impex Ferro Tech Schedules 25th Committee of Creditors Meeting for March 6, 2026
Impex Ferro Tech Limited has scheduled its 25th Committee of Creditors (CoC) meeting for March 6, 2026, as part of its ongoing Corporate Insolvency Resolution Process (CIRP). The company is currently under the management of Resolution Professional Ashok Kumar Sarawagi. This meeting is a critical step in the insolvency proceedings, which have now reached their 25th iteration. Investors should be aware that the company remains in a distressed state while creditors deliberate on resolution plans.
Key Highlights
25th meeting of the Committee of Creditors (CoC) to be held on March 6, 2026
Company is currently undergoing Corporate Insolvency Resolution Process (CIRP)
Meeting scheduled for 12:00 Hrs IST via hybrid mode (physical and virtual)
Resolution Professional Ashok Kumar Sarawagi's authorization is valid until December 31, 2026
👀 What to Watch
Investors should exercise extreme caution as insolvency proceedings often lead to significant equity dilution or delisting. Monitor for any announcements regarding the approval of a resolution plan or liquidation orders following this meeting.
Impex Ferro Tech 24th CoC Meeting: Finalizes Resolution Applicants and Seeks CIRP Extension
Impex Ferro Tech Limited, currently undergoing the Corporate Insolvency Resolution Process (CIRP), held its 24th Committee of Creditors (CoC) meeting on February 19, 2026. The CoC finalized the provisional list of eligible resolution applicants, a critical step toward identifying a potential buyer for the company. Furthermore, the committee approved filing for a time extension of the CIRP period with the NCLT Kolkata. The meeting also covered the approval of insolvency costs through January 2026 and the noting of the December 2025 quarterly financial results.
Key Highlights
Finalization of the provisional list of eligible resolution applicants as per Regulation 36(A).
Approval granted to file for an extension of the CIRP time frame with NCLT Kolkata.
Approval of CIRP-related costs incurred up to January 2026.
Noting of the financial results for the quarter ended December 31, 2025.
👀 What to Watch
Investors should exercise extreme caution as the company is in insolvency; the final resolution plan will determine if any value remains for equity shareholders. Monitor the NCLT's decision on the CIRP extension and the subsequent announcement of the final resolution applicant.
Impex Ferro Tech Schedules 24th CoC Meeting Under Insolvency Process
Impex Ferro Tech Limited has announced the 24th meeting of its Committee of Creditors (CoC) scheduled for February 19, 2026. The company is currently undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code. This meeting is part of the ongoing efforts to find a resolution for the company's debt obligations. The process is being managed by Resolution Professional Ashok Kumar Sarawagi, as the company remains under financial distress.
Key Highlights
24th meeting of the Committee of Creditors (CoC) to be held on February 19, 2026
Company is currently undergoing Corporate Insolvency Resolution Process (CIRP)
Meeting will be conducted in hybrid mode (physical and virtual) from Kolkata
Resolution Professional Ashok Kumar Sarawagi is overseeing the insolvency proceedings
Compliance is maintained under Regulation 30 of SEBI Listing Obligations
👀 What to Watch
Investors should exercise extreme caution as equity value is typically at high risk during insolvency proceedings. Monitor for any updates regarding a potential resolution plan or liquidation order which could impact the stock's future.
Impex Ferro Tech Q3 Results: Auditor Issues Qualified Opinion Amid CIRP and ₹630 Cr Interest Gap
Impex Ferro Tech remains under the Corporate Insolvency Resolution Process (CIRP) with its manufacturing operations shut since October 2022 due to power disconnection. The auditors have issued a qualified opinion, highlighting a massive non-provision of ₹63,020.22 lakhs in cumulative interest expenses and ₹292.54 lakhs in overdue statutory dues. While the company's net worth is fully eroded, a resolution plan is currently in progress with an H1 bidder already identified. The financial results continue to be prepared on a going concern basis despite significant material uncertainty regarding its survival.
Key Highlights
Non-provision of cumulative interest expenses amounting to ₹63,020.22 lakhs as per IND AS 109.
Manufacturing unit at Kalyanesheri, West Bengal, has been shut down since October 2022.
Undisputed statutory dues of ₹292.54 lakhs are in arrears for a period exceeding nine months.
Expected Credit Loss (ECL) provisions made for ₹313.60 lakhs on trade receivables and ₹393.53 lakhs on advances.
An H1 bidder has been declared for the company's resolution plan under the ongoing CIRP process.
👀 What to Watch
Investors should exercise extreme caution as the company's net worth is completely eroded and it is undergoing insolvency proceedings. The final value for equity shareholders is highly uncertain and typically minimal in such NCLT resolution cases.
Impex Ferro Tech to Issue Fresh EOI and Form G Under Insolvency Process
Impex Ferro Tech Limited, currently undergoing the Corporate Insolvency Resolution Process (CIRP), held its 23rd Committee of Creditors (CoC) meeting on January 22, 2026. The CoC has decided to finalize a fresh Expression of Interest (EOI) and Form G to invite new resolution plans, suggesting previous attempts may not have reached a conclusion. The meeting also addressed the invocation of a bank guarantee from a resolution applicant and the approval of CIRP costs for November and December 2025. Furthermore, the NCLT Kolkata has granted an extension to the CIRP period, prolonging the uncertainty for stakeholders.
Key Highlights
Finalization of fresh Expression of Interest (EOI) and Form G to invite new resolution plans.
Discussion on the invocation of a Bank Guarantee provided by a Resolution Applicant.
Approval of CIRP costs for the periods ending November 2025 and December 2025.
Extension of the CIRP time frame officially granted by the Hon’ble NCLT, Kolkata.
The 23rd CoC meeting was held on January 22, 2026, and minutes were circulated on January 24, 2026.
👀 What to Watch
Investors should exercise extreme caution as the company remains in insolvency and the issuance of a fresh EOI indicates a reset in the resolution process. In most IBC cases, existing equity is significantly diluted or delisted, making this a high-risk situation.
Impex Ferro Tech 23rd CoC Meeting: Fresh EOI and CIRP Extension Approved
Impex Ferro Tech Limited, currently under the Corporate Insolvency Resolution Process (CIRP), held its 23rd Committee of Creditors (CoC) meeting on January 22, 2026. The CoC discussed the invocation of a bank guarantee from a previous resolution applicant and decided to issue a fresh Expression of Interest (EOI) and Form G to attract new bidders. Additionally, the Hon’ble NCLT Kolkata has granted an extension to the CIRP timeline, and the CoC approved insolvency costs for November and December 2025. This indicates a restart or delay in the resolution process as previous attempts may have stalled.
Key Highlights
23rd CoC meeting concluded on January 22, 2026, with minutes circulated on January 24, 2026.
Decision to issue a fresh Expression of Interest (EOI) and Form G to find new Resolution Applicants.
Invocation of Bank Guarantee provided by a previous Resolution Applicant was discussed.
Hon’ble NCLT, Kolkata, has granted an extension to the CIRP period.
Approval of CIRP costs for the months of November 2025 and December 2025.
👀 What to Watch
Investors should remain extremely cautious as the company is in insolvency and the resolution process is being extended with fresh bids. Equity value in such cases is often significantly diluted or wiped out.
Impex Ferro Tech Schedules 23rd Committee of Creditors Meeting for January 22
Impex Ferro Tech Limited has announced the 23rd meeting of its Committee of Creditors (CoC) scheduled for January 22, 2026. The company is currently undergoing the Corporate Insolvency Resolution Process (CIRP) under the supervision of a Resolution Professional. This meeting will be held in a hybrid mode to discuss matters related to the ongoing insolvency proceedings. The high frequency of meetings (23rd session) indicates a prolonged resolution process which remains a significant concern for stakeholders.
Key Highlights
23rd meeting of the Committee of Creditors (CoC) scheduled for January 22, 2026
Company is currently undergoing Corporate Insolvency Resolution Process (CIRP)
Meeting to be held in hybrid mode (physical and virtual) at 15:30 Hrs IST
Disclosure made pursuant to Regulation 30(2) of SEBI (LODR) Regulations, 2015
Resolution Professional Ashok Kumar Sarawagi is managing the process
👀 What to Watch
Investors should exercise extreme caution as equity shareholders typically face significant value erosion or total loss during insolvency resolutions. Monitor for any announcements regarding the approval of a resolution plan or potential liquidation.
Impex Ferro Tech Q2 Results: Net Worth Eroded, ₹63,020 Lakhs Interest Unprovided Amid CIRP
Impex Ferro Tech Limited remains under the Corporate Insolvency Resolution Process (CIRP) with its board suspended and operations at its West Bengal plant shut since October 2022. The auditors have issued a qualified opinion, noting that the company failed to provide for cumulative interest expenses of ₹63,020.22 lakhs, which would have increased current liabilities to ₹63,076.15 lakhs. The company's net worth is completely eroded, and it faces material uncertainty as a going concern, although an H1 bidder has been identified for a resolution plan.
Key Highlights
Auditors flagged non-provision of ₹63,020.22 lakhs in interest, which would have pushed 'Other Equity' to a deficit of ₹1,03,702.25 lakhs.
Manufacturing operations at the Kalyanesheri plant have been shut since October 2022 due to power disconnection by DVC.
Undisputed statutory dues amounting to ₹291.05 lakhs have been in arrears for more than six months.
The company is currently in CIRP, and while a resolution plan has been submitted by an H1 bidder, the outcome remains subject to NCLT approval.
Total liabilities exceed total assets, and the company has incurred significant cash losses, leading to a total erosion of net worth.
👀 What to Watch
Avoid or exit positions as the company is in insolvency proceedings and the net worth is fully eroded. Equity shareholders typically face a total loss or massive dilution in NCLT-approved resolution plans.
Impex Ferro Tech 22nd CoC Meeting: CIRP Extension and H1 Results Approved
Impex Ferro Tech Limited conducted its 22nd Committee of Creditors (CoC) meeting on December 9, 2025, to review the ongoing Corporate Insolvency Resolution Process (CIRP). The CoC approved the CIRP costs incurred up to October 2025 and authorized the filing of an application for a timeline extension with NCLT Kolkata. Additionally, the committee approved the half-yearly financial results for the period ending September 30, 2025. The company remains under the management of Resolution Professional Ashok Kumar Sarawagi.
Key Highlights
22nd CoC meeting successfully convened on December 9, 2025, for a duration of 20 minutes.
Approval granted for CIRP costs incurred through October 2025.
Decision made to file for an extension of the CIRP time frame with the Hon’ble NCLT, Kolkata.
Half-yearly financial results for the period ending September 30, 2025, were formally approved by the CoC.
👀 What to Watch
Investors should remain cautious as the request for a CIRP extension indicates that a resolution plan has not yet been finalized. Closely monitor the upcoming half-yearly financial results and NCLT orders regarding the timeline extension.
