Corporate Insolvency Resolution Process

SIMBHAOLI SUGARS July 14, 2026 To, To, The National Stock Exchange of India Limited, Department of Corporate Services, Exchange Plaza, Bombay Stock Exchange Limited, Bandra – Kurla Complex, Phiroze Jeejeebhoy Towers, Mumbai – 400051 Dalal Street, Fort Mumbai – 400001 Symbol – SIMBHALS Scrip Code – 539742 Subject: Intimation on the Judgment of the Hon’ble NCLAT in respect of the Corporate Insolvency Resolution Process of Simbhaoli Sugars Limited Ref : Update on Company’s Announcement dated 25 July 2024 regarding the Stay on the Corporate Insolvency Resolution Process (“CIRP”) of Simbhaoli Sugars Limited. Link of the Announcement made on 25th July, 2026 : https://www.bseindia.com/xml- data/corpfiling/AttachHis/3b61b241-fc98-45e6-8095-e70f58501db2.pdf Pursuant to Regulation 30 read with Schedule III, Part A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and in continuation of the Company’s earlier announcement dated 25 July 2024, This is to inform you that the Hon’ble National Company Law Appellate Tribunal (“NCLAT”), New Delhi, has pronounced its judgment on 13 July 2026 in the appeals relating to the Corporate Insolvency Resolution Process (“CIRP”) of Simbhaoli Sugars Limited. The Hon’ble NCLAT has dismissed the appeal filed by Ms. Gursimran Kaur Mann, one of the promoters of the Company, and disposed of the appeal filed by Mr. Surender Pal Singh Mangat (Farmer) with certain directions. Consequently, all interim orders stand vacated. All pending interlocutory applications, if any, stand closed. There is no order as to costs. A copy of the judgment of the Hon’ble NCLAT is enclosed herewith for the information of the shareholders and other stakeholders. Kindly take the above information on record. For Simbhaoli Sugars Limited (Under Corporate Insolvency Resolution Process) (Jagriti Sharma) Company Secretary and Compliance Officer M. No.: F11456 Simbhaoli Sugars Limited is currently undergoing Corporate Insolvency Resolution Process pursuant to the provisions of the Insolvency and Bankruptcy Code, 2016 w.e.f. 11th July, 2024, Since, the powers of Board of Directors stands suspended pursuant to the initiation of CIR Process, vide order dated 11th July, 2024, the adjudicating authority appointed Mr. Anurag Goel (IBBI/IPA-001/IP-P-00876/2017-18/11460), Interim Resolution Professional (IRP) who is managing assets, management and carrying the functions mentioned under the Insolvency Bankruptcy Code. Currently, The Hon’ble NCLAT, vide its judgement dated 13th July 2026 vacated Stay. Copy of Order/Judgement available at www.simbhaolisugars.com. Simbhaoli Sugars Limited (An FSSC 22000: version 6.1, ISO 900 ISO 9001: 2015 & 14001: 2015 Certified Company) Registered Office: Simbhaoli, Distt. Hapur, Uttar Pradesh, 245207 I Tel: 0120-4132077 GSTIN: 09AAPCS7569A2ZU I PAN: AAPCS7569A I CIN: L15122UP2011PLC044210 E-mail: info@simbhaolisugars.com I www.simbhaolisugars.com Specialty Sugars Potable Alcohol Ethanol Power NATIONAL COMPANY LAW APPELLATE TRIBUNAL PRINCIPAL BENCH, NEW DELHI Company Appeal (AT) (Insolvency) No. 1404 of 2024 & I.A. No. 4906, 6157, 7773 of 2025 [Arising out of order dated 11.07.2024 passed by the National Company Law Tribunal, Allahabad Bench, Prayagraj in CP (IB) No. 331/ALD/2018] In the matter of: Surender Pal Singh Mangat. S/o Sh. Channan Mangat, aged about 54years, r/o Village Makhanpur, Khampur Makhanpur, Hapur Jharina, Uttar Pradesh 245205. ……….Appellant Versus 1. Oriental Bank of Commerce (Now Punjab National Bank) Through Authorised Representative Having its Head Office At: Plot No.4, Sector 10, Dwarka, New Delhi-110075. Having its Branch At: Hapur, Garh Road, District Hapur-UP. 2. Mr. Anurag Goel as Interim Resolution Professional. IBBI/IPA-001/IP-P00876/2017- 2018/11460, R/o 10/349, 1st Floor, Sundar Vihar, Paschim Vihar, New Delhi, 110087. 3. District Magistrate, Hapur Ms. Prerna Sharma, DM Office Hapur, HPDA Scheme, Anand Vihar, Hapur, Uttar Pradesh 245101. 4. District Magistrate, Bahraich Ms. Monika Rani, Collectorate Office, SH 13, Kapoorthala, Brahmnipura Bahraich, Uttar Pradesh 271801. 5. Commissioner of Cane and Sugar, Uttar Pradesh Mr. Prabhu N. Singh, Cane Commissioner Office, Lucknow Uttar Pradesh 226001. ………Respondents Present For Appellant : Mr. Akash Jain, Ms. Abhipsa Sahu, Advocates. Ms. Kritika Goyal, Mr. Lakshya Sachdeva, Advocates for applicant in IA 6653/25. For Respondents : Mr. Gopal Jain, Sr. Advocate, Mr. Divyam Agarwal, Mr. Mayank Ratnaparkhe, Ms. Priya Chauhan, Advocates for SBI. Mr. Shivam Shukla, Advocate for R- 3, 4, 5. Mr. Anant Merathia, Mr. A. Goel, Advocates for IRP. Ms. Ekta Choudhary, Ms. Rushali Sikand for CFM ARC (Intervener). WITH Company Appeal (AT) (Insolvency) No. 1405 of 2024 & I.A. No. 6158, 7762, 7772 of 2025 [Arising out of order dated 11.07.2024 passed by the National Company Law Tribunal, Allahabad Bench, Prayagraj in CP (IB) No. 331/ALD/2018] In the matter of: Gursimran Kaur Mann D/o Gurmit Singh Mann Having office at: A 112, Sector 63, Noida 201307 ……….Appellant Versus 1. Oriental Bank of Commerce (Now Punjab National Bank) Having its head office at Plot No. 5, Sector 32, Institutional Area, Gurgaon and acting through its branch office at Delhi Mussorie Road, Transport Nagar, Meerut, Uttar Pradesh-250002. 2. Mr. Anurag Goel as Interim Resolution Professional. Company Appeal (AT) (Ins.) No. 1404 and 1405 of 2024 IBBI/IPA-001/IP-P00876/2017- 2018/11460, R/o 10/349, 1st Floor, Sundar Vihar, Paschim Vihar, New Delhi, 110087. 3. District Magistrate, Hapur Ms. Prerna Sharma, DM Office Hapur, HPDA Scheme, Anand Vihar, Hapur, Uttar Pradesh 245101. 4. District Magistrate, Bahraich Ms. Monika Rani, Collectorate Office, SH 13, Kapoorthala, Brahmnipura Bahraich, Uttar Pradesh 271801. 5. Commissioner of Cane and Sugar, Uttar Pradesh Mr. Prabhu N. Singh, Cane Commissioner Office, Lucknow Uttar Pradesh 226001. ………Respondents Present For Appellant : Ms. Prachi Johri, Mr. Sachin Jain, Advocates. For Respondents : Mr. Sumant Batra, Ms. Vaidehi Gulati, Mr. Sarthak Bhandari, Ms. Riya Kaur Arora, Advocates for Intervenor and SS Hooda. Mr. Gopal Jain, Sr. Advocate, Mr. Divyam Agarwal, Mr. Mayank Ratnaparkhe, Ms. Priya Chauhan, Advocates for SBI. Mr. Shivam Shukla, Advocate for R- 3, 4, 5. Mr. Anant Merathia, Mr. A. Goel, Advocates for IRP. J U D G M E N T (Hybrid Mode) [Per: Ajai Das Mehrotra, Member (Technical)] 1. The Company Appeal (AT) (Insolvency) No. 1405 of 2024 has been filed by Gursimran Kaur Mann, suspended director of Corporate Debtor, namely, Simbhaoli Sugar Limited against the impugned order dated 11.07.2024 passed by Ld. NCLT, Allahabad Bench in C.P. (IB) No. 331/ALD/2018 filed Company Appeal (AT) (Ins.) No. 1404 and 1405 of 2024 under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC, 2016) by Oriental Bank of Commerce wherein the Ld. NCLT has admit the Corporate Debtor in Corporate Insolvency Resolution Process (CIRP). 1.2 I.A. No. 7637 of 2024 is filed by State Bank of India (SBI) seeking impleadment in the Company Appeal (AT) No. 1405 of 2024 on the grounds that it had filed a petition under Section 7 of the IBC, 2016 which was disposed of by the Ld. NCLT, on the ground that the Corporate Debtor is already admitted into CIRP vide impugned order dated 11.07.2024. Further it was submitted that SBI is the lead Bank in the Joint Lender’s Forum (JLF). Based on the submissions made, SBI was permitted to file written submissions and make oral pleadings in this case. 2. The Company Appeal (AT) (Insolvency) No. 1404 of 2024 has been filed by Surender Pal Singh Mangat, Sugar Cane Farmer, which was later withdrawn, though some other farmers through Ld. Counsel Mr. Gaurav Mitra, stated that they desire to pursue the said appeal. 3. The brief facts of this case are as under: i) The Simbhaoli Sugar Limited was established in 1933. As the company was unable to pay its debt, an application under Section 7 was filed by Oriental Bank of Commerce (now merged with P [Showing first 8,000 characters — download PDF for full document]