Background and Context

The Corporate Insolvency Resolution Process was initiated against Winsome Yarns Limited on December 22, 2023, when the National Company Law Tribunal, Chandigarh Bench admitted petition CP (IB) No. 291/Chd/Chd/2018 filed by Financial Creditor Edelweiss Asset Reconstruction Company Limited under section 7 of the Insolvency and Bankruptcy Code, 2016.

Mr. Sanjay Gupta (Registration no. IBBI/IPA-002/IP-N00982-C01/2017-2018/10354) was appointed as Interim Resolution Professional effective December 22, 2023. Subsequently, on March 14, 2024, NCLT appointed ARCK Resolution Professionals LLP (Registration no. IBBI/IPE-0030/IPA1/2022-23/50013) as Resolution Professional of the Company.

Since initiation of CIRP, the powers of the Board of Directors have been suspended and vested with the IRP/RP as per provisions of Sections 17 & 23 of the Insolvency and Bankruptcy Code, 2016.

The Hon'ble National Company Law Tribunal Mumbai Bench-VI approved the resolution plan submitted by Successful Resolution Applicant Mohini Health & Hygiene Limited vide order dated April 16, 2026.

Director Appointments

In the Monitoring Committee meeting held on June 23, 2026, through Video-Conferencing, the following six directors were appointed to the Board:

1. Mr. Vipan Kumar (DIN: 11551026) - Additional Director, Executive

  • Appointment Date: June 23, 2026
  • Term: Subject to member approval, for period till ensuing General Meeting or within three months from appointment date, whichever earlier
  • Retirement: Liable to retire by rotation
  • Profile: 47 years old, 18+ years experience in construction and real estate sector, expertise in project development, business operations, strategic planning
  • Relationships: Not related to any existing director

2. Mr. Avnish Sarvapriya Bansal (DIN: 02666814) - Additional Director, Non-Executive and Chairperson

  • Appointment Date: June 23, 2026
  • Term: Subject to member approval, for period till ensuing General Meeting or within three months from appointment date, whichever earlier
  • Retirement: Liable to retire by rotation
  • Profile: 41 years old, holds Master's in Business Administration specializing in finance from Edinburgh Business School (UK), expertise in cotton processing and health & hygiene applications, strong risk management skills
  • Relationships: Husband of Mrs. Parul Bansal

3. Mrs. Parul Bansal (DIN: 06856466) - Additional Director, Women Non-Executive

  • Appointment Date: June 23, 2026
  • Term: Subject to member approval, for period till ensuing General Meeting or within three months from appointment date, whichever earlier
  • Retirement: Liable to retire by rotation
  • Profile: 38 years old, diploma in Animation, Graphics and Multimedia from Arena Multimedia, 10+ years experience in the area
  • Relationships: Wife of Mr. Avnish Sarvapriya Bansal

4. Mr. Mahesh Fogla (DIN: 05157688) - Additional Director, Non-executive Independent

  • Appointment Date: June 23, 2026
  • Term: Subject to member approval, for period till ensuing General Meeting or within three months from appointment date, whichever earlier
  • Retirement: Not liable to retire by rotation
  • Profile: 53 years old, Fellow Member of Institute of Chartered and Cost Accountants of India, 25+ years experience in Finance & Accounts, Legal & Taxation, Strategic Financial Planning, MIS, commercial transactions structuring
  • Relationships: Not related to any existing director

5. Mr. Sanjeev Nahar (DIN: 07711548) - Additional Director, Non-executive Independent

  • Appointment Date: June 23, 2026
  • Term: Subject to shareholder approval, for period till ensuing General Meeting or within three months from appointment date, whichever earlier
  • Retirement: Not liable to retire by rotation
  • Profile: Civil Engineer from Mumbai University with PGDCM from NICMAR, 28+ years experience in construction and real estate, project management of over 20 million sq. ft. including high-rise developments exceeding 50 storeys, previously with Lodha Group, Runwal Group, Raheja Universal, Xrbia Developers, Kumar Builders
  • Relationships: Not related to any existing director

6. Mr. Bibhudutta Satpathy (DIN: 06693401) - Additional Director, Non-executive Independent

  • Appointment Date: June 23, 2026
  • Term: Subject to shareholder approval, for period till ensuing General Meeting or within three months from appointment date, whichever earlier
  • Retirement: Not liable to retire by rotation
  • Profile: 34+ years experience in infrastructure, highways, EPC, and industrial construction, currently Sr. Vice President (MMR/EPC) at Markolines Pavement Technologies Ltd, previously with L&T, Lafarge, Welspun, Gammon, Transstroy, Essel Projects, managed projects worth over ₹12,000 crore, B.E. (Civil) from Nagpur University, Construction Management from Anna University, Chartered Engineer, Certified Arbitrator, Six Sigma Green Belt
  • Relationships: Not related to any existing director

Financial Impact

Financial impact not quantified in the disclosure.