The Board of Directors of AF Enterprises Ltd held a meeting on 24th August, 2026 from 5:30 P.M. to 6:30 P.M. The primary agenda was to discuss the outcome of the Corporate Insolvency Resolution Process (CIRP).
Key Developments
The Board took note of the Order dated 06th August, 2026 passed by the Hon'ble National Company Law Tribunal (NCLT), New Delhi Bench, Court VI. The order approved the withdrawal of the Corporate Insolvency Resolution Process (CIRP) under Section 12A of the Insolvency and Bankruptcy Code, 2016. The matter pertained to M/s Findoc Finvest Private Limited vs. M/s AF Enterprises Limited.
The Company had previously intimated this NCLT Order to the Stock Exchange via its disclosure dated 08th August, 2026 under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Consequences of the Order
As a result of this order:
- The CIRP proceedings against the Company stand withdrawn.
- The Company has been released from CIRP.
- Management control of the Company reverts back to the Company from the Resolution Professional.
Forward Actions
The Board resolved that the Company shall take necessary steps for:
- Resumption of its management and operations.
- Completing the takeover/handing-over process from the Resolution Professional, Mr. Sumit Sharma, in accordance with applicable provisions and directions of the NCLT.
- Reviewing and undertaking all pending statutory, regulatory, corporate, financial and other applicable compliances on priority basis.
- Taking necessary actions to regularize and update the records and compliances of the Company in the interest of all stakeholders.
Disclosure Compliance
This communication is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.