ARCL Organics Limited
Key Details of the Order
- Order Date: October 6, 2026
- Receipt Date: October 7, 2026
- Authority: Debts Recovery Tribunal-I, Kolkata
- Case Reference: OA/86/2005 - Stressed Assets Stabilisation Fund vs. Allied Resins and Chemicals Ltd (now known as ARCL Organics Limited)
Settlement Details
The Tribunal recorded that the company has fully settled its obligations through:
- Principal Settlement Amount: ₹8,22,94,500 (₹8.23 crore)
- Interest Payment: ₹21,95,394 (₹0.22 crore)
- Total Payment: ₹8,44,89,894
The settlement was made pursuant to a compromise arrangement between the company and its secured creditors.
Tribunal Order
The Hon'ble Tribunal, under Section 19(20A) of the Recovery of Debts and Bankruptcy Act, 1993, ordered that:
- OA/86/2005 stands disposed of
- The claim of the Applicant Bank (Stressed Assets Stabilisation Fund) has been satisfied in terms of the settlement agreement
- The matter is considered resolved
Financial Implications
- The settlement amount of ₹8,22,94,500 and interest of ₹21,95,394 have already been paid as recorded by the Tribunal
- No further financial liability is envisaged in respect of the claim covered under the said OA
- No penalties, restrictions, or sanctions were imposed
- No aberrations or non-compliances were identified by the authority
Operational Impact
The resolution enables the company to:
- Obtain No Objection Certificate (NOC)/release of charge on land properties offered as security to SASF and other Financial Institutions
- Complete requisite documentation and formalities with concerned institutions
- Release its main manufacturing land at Rampur from security/encumbrance
- The Rampur land contains the company's existing plant and machinery where manufacturing operations are currently being carried out
Company Action
The company has complied with the settlement arrangement and made payment of the settlement amount and applicable interest, as recorded in the Final Order.