Updated 31 October 2026. Impex Ferro Tech Limited is under the Corporate Insolvency Resolution Process (CIRP) and is not trading normally. The Committee of Creditors (CoC) approved a resolution plan from Ankoor Distilleries Private Limited in July 2026. The resolution professional filed that plan with the National Company Law Tribunal (NCLT) Kolkata on 7 August 2026 for approval.
There are two important facts for investors. First, CoC approval is not the same as final NCLT approval. Second, the NSE currently shows the security as Temporarily Suspended, with trading status shown as suspended. This means there is no normal live exchange price to use for a current share-price target.
This guide explains the insolvency process, the latest resolution-plan status, the company’s Q1 FY2026–27 financial results, the trading suspension and the risks for old shareholders. It does not present an old price rally as a forecast or recommend buying a suspended security.
Key Takeaways
- Impex Ferro Tech entered CIRP after an NCLT Kolkata Bench order dated 2 May 2024.
- The CoC approved Ankoor Distilleries Private Limited’s resolution plan with 100% of the voting share in July 2026.
- The resolution professional filed an application with NCLT Kolkata on 7 August 2026 seeking approval of the plan under Section 31 of the IBC.
- As at 31 October 2026, the latest exchange disclosure reviewed confirms the NCLT application; a final approval order was not identified in the sources checked for this update.
- The NSE security page shows the status as temporarily suspended and trading status as suspended.
- In Q1 FY27, operating revenue was nil and the company reported a net loss of ₹176.62 lakh.
- A normal 2026 or 2030 share-price target is not reliable while the company remains in CIRP and trading is suspended.
Impex Ferro Tech: Company and Share Details
Impex Ferro Tech Limited was a ferro-alloy manufacturer. Ferro alloys are materials made by combining iron with other elements such as manganese or silicon. They are used in steelmaking to add particular properties to steel. The company has a manufacturing facility in West Bengal and has been listed on Indian stock exchanges.
| Company detail | Information |
|---|---|
| Company | Impex Ferro Tech Limited |
| NSE symbol | IMPEXFERRO |
| BSE code | 532614 |
| Industry | Ferro alloys and steel inputs |
| CIRP admission date | 2 May 2024, NCLT Kolkata Bench |
| Resolution applicant | Ankoor Distilleries Private Limited |
| CoC approval | July 2026, 100% voting share |
| NCLT filing date | 7 August 2026 |
| Current NSE status | Temporarily suspended; trading status shown as suspended |
| Latest reported quarter | Q1 FY2026–27, ended 30 June 2026 |
Company history and exchange status are different questions. Old websites may still describe the company’s products, plant or historical share chart. The latest financial filing, insolvency notices and exchange status should be read together before assessing the company.
What Happened to Impex Ferro Tech?
Impex Ferro Tech entered CIRP after the NCLT Kolkata Bench admitted an application filed by Auroma Coke Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. The order was dated 2 May 2024. CIRP is the formal legal process used to try to resolve a company’s financial distress.
Once CIRP begins, a resolution professional takes responsibility for the process. The professional gathers creditor claims, manages the company’s affairs under the Code, invites resolution plans and places eligible plans before the CoC. The CoC evaluates the proposals and votes under the rules. The NCLT then considers a plan approved by the CoC.
A resolution plan aims to provide a way forward for a distressed company. It may involve new ownership, funding, changes to operations, repayment or restructuring of creditor claims and changes to the share capital. The exact treatment of existing shareholders depends on the final plan approved by the NCLT.
CoC Approved Ankoor Distilleries’ Resolution Plan
Impex Ferro Tech disclosed that its 29th CoC meeting considered a resolution plan submitted by Ankoor Distilleries Private Limited. The plan was dated 25 May 2026 and amended on 30 June 2026.
The e-voting period ran from 8 July to 24 July 2026. The company filing said the plan received 100% of the CoC voting share, and the CoC approved it. The CoC also authorised the resolution professional to issue a letter of intent to the successful resolution applicant and take the next steps required by the process.
A proposal to initiate liquidation under Section 33(2) did not receive approval in the same vote. The filing reported 0% voting share in favour of initiating liquidation. This indicates that the CoC approved the resolution plan rather than voting to initiate liquidation at that stage.
However, the CoC vote did not complete the resolution. The resolution professional still needed to file the plan with the NCLT and obtain the tribunal’s approval under Section 31 of the Code.
Resolution Plan Filed with NCLT on 7 August 2026
On 7 August 2026, the resolution professional informed the stock exchanges that an application had been filed before the NCLT Kolkata Bench under Section 30(6) of the IBC, seeking approval of the CoC-approved plan under Section 31.
As at 31 October 2026, the latest exchange disclosure reviewed for this article confirms that the application was filed. A final NCLT approval order was not identified in the sources checked for this update. Therefore, the plan should be described as CoC-approved and pending NCLT approval, not as a completed takeover or fully implemented resolution.
The next important event is the NCLT’s decision. The tribunal may approve the plan, require further steps or deal with issues under the Code. Investors should wait for the official order and read the approved plan before making assumptions about the future company or existing shares.
What Does CIRP Mean for Existing Shareholders?
CIRP can have a major impact on shareholders because equity ranks behind creditors in the legal and financial structure of a company. A company may have factories or valuable machinery, but the value available for old shareholders depends on its liabilities, asset values, creditor claims and the terms of the resolution plan.
A resolution plan may cancel the old shares, reduce their value, issue new shares to the successful applicant or provide another treatment. The exact result must be taken from the plan approved by the NCLT. It is not safe to assume that old shareholders will keep the same percentage ownership after a resolution.
For Impex Ferro Tech, this article does not claim that existing shares have already been extinguished. The CoC-approved plan has been filed with the NCLT, but the final order and the detailed treatment of old equity must be checked in the approved documents. Until that stage is confirmed, any claim about a fixed recovery or future value for old shareholders would be speculation.
Q1 FY2026–27 Financial Results: No Operating Revenue
Impex Ferro Tech filed its Q1 FY2026–27 financial results for the quarter ended 30 June 2026. The statement showed no revenue from operations during the quarter. The company reported only ₹0.64 lakh of other income, while total expenses were ₹177.26 lakh.
| Standalone Q1 FY27 measure | Reported amount |
|---|---|
| Revenue from operations | ₹0.00 lakh |
| Other income | ₹0.64 lakh |
| Total income | ₹0.64 lakh |
| Total expenses | ₹177.26 lakh |
| Net loss for the period | ₹176.62 lakh (about ₹1.77 crore) |
| Basic and diluted EPS | ₹(0.20) |
These figures are important because the company did not report operating sales in Q1 FY27. The result is a financial snapshot during CIRP, not a normal quarter for a running ferro-alloy manufacturing business.
Other income is not the same as sales from manufacturing or trading. It can include items such as interest or other non-operating receipts. The company can still have assets, liabilities and legal obligations even when it reports no operating revenue in a quarter. Investors should not assume that the company has ceased to exist; its legal and financial position remains subject to the CIRP process.
The numbers also explain why older price-target articles based on normal production or revenue growth are not useful. The company must first resolve the insolvency process and clarify its future operations. Investors should check the audited annual report and later financial statements for the status of assets, liabilities and any restart or transfer of operations.
Why Is the Share Price Not a Reliable Target Right Now?
The old version of this article listed historical quotations such as ₹1.36 in early April, around ₹2.40 in July and ₹4.34 on 28 August 2026. These are historical references only. They are not live market prices and do not establish the value of the old equity after the later insolvency developments.
The NSE security page currently shows the status as Temporarily Suspended and the trading status as Suspended. The current page does not show traded volume or traded value. This means there is no normal live exchange price to use for a share-price target.
The same NSE page displays a 52-week range with a high of ₹6.50 on 30 September 2026 and a low of ₹1.30 on 6 April 2026. Those are historical data points. They should not be described as prices at which an investor can trade now while trading is suspended.
The sources reviewed for this article do not establish one verified reason for the earlier price rise. In a small or distressed security, a displayed price can move sharply when the amount of active trading is limited or when speculative orders are placed. A rise in the share price does not prove that the company’s operations, balance sheet or insolvency position have improved.
What Is the Difference Between CoC Approval and NCLT Approval?
These are two separate stages in an insolvency resolution:
- CoC approval: The Committee of Creditors votes on a resolution plan. In this case, Ankoor Distilleries’ plan received 100% of the voting share in July 2026.
- NCLT approval: The resolution professional files the plan with the tribunal. The NCLT examines whether the plan meets the requirements of the IBC and may approve it under Section 31.
- Implementation: After NCLT approval, the resolution applicant and the resolution professional carry out the steps in the plan, including any changes to ownership, funding, operations or share capital.
CoC approval is an important milestone, but it does not mean that the plan has already been approved by the NCLT or implemented. This difference is central to understanding Impex Ferro Tech’s status.
What Could Happen After NCLT Considers the Plan?
If the NCLT approves the plan, the successful resolution applicant must implement it according to the order and approved terms. The plan may set out who will manage the company, how creditor claims will be addressed, what funding will be provided, what business activities will continue and what happens to the existing share capital.
If the NCLT does not approve the plan or asks for further steps, the process may take longer. Other legal steps may follow under the Code. It would be premature to state that the company has been taken over, that its old shares have been cancelled or that a new listed equity will automatically be issued before the tribunal’s final decision and implementation details are known.
For old shareholders, the key documents are the final NCLT order, the complete resolution plan and any subsequent exchange notice about share capital or trading status. These documents determine the legal outcome. A media summary or informal message cannot replace them.
How to Read the NSE Trading Suspension
The NSE security page currently shows “Temporarily Suspended” and “Trading Status: Suspended”. It also does not display traded volume or traded value in the current snapshot. This is different from an ordinary trading day when buyers and sellers place orders and a new price is discovered.
A 52-week high or low displayed on an exchange page is a historical reference. It does not mean the security can be traded at that level today. Likewise, a price shown by a third-party website may be the last available quote before suspension. It should not be called the current price unless the exchange confirms that trading has resumed and a new trade has taken place.
If the suspension is later removed, the exchange may publish a notice with the effective date and applicable conditions. Investors should check that notice before assuming the shares can be traded again. Even if trading resumes, the market value will depend on the final resolution outcome, the capital structure and actual demand for the security.
What Should an Existing Shareholder Check?
- Read the NCLT order: Check the order dated 2 May 2024 admitting the company into CIRP and any later order on the resolution plan.
- Read the approved plan: If the NCLT approves the plan, check the exact treatment of existing equity shares.
- Follow exchange announcements: Use NSE and BSE filings for new status updates and corporate actions.
- Check trading status: The NSE page currently shows the security as temporarily suspended. Do not assume an old quote is executable.
- Keep demat and broker records: Retain statements and corporate-action notices for your own records.
- Do not rely on recovery promises: Be cautious of anyone asking for money to recover shares or arrange an off-market transaction in a suspended security.
If the final plan changes or extinguishes the existing equity, the exact date and process will be set out in official documents. An investor should not rely on an unofficial message or a broker rumour as proof of the legal outcome.
Key Risks for Investors
- Insolvency risk: The company remains in CIRP until the legal process is completed.
- Resolution risk: The CoC-approved plan still requires NCLT approval and implementation.
- Equity treatment risk: The final plan may alter or extinguish old shareholders’ interests.
- Operating risk: Q1 FY27 showed no operating revenue and a net loss of ₹176.62 lakh.
- Trading risk: NSE currently shows the security as temporarily suspended.
- Information risk: Historical prices and targets on older websites may be out of date or may not reflect the legal status.
- Liquidity risk: A suspended security cannot be treated like an actively traded share.
What Does “Nil Revenue” Mean for Shareholders?
Nil revenue from operations means the company did not report sales from its normal business activities in that quarter. It does not by itself tell us the value of its land, plant, machinery, inventory or other assets. Those items are assessed through the company’s accounts and the insolvency process.
For an old shareholder, the key concern is whether the business can be resolved and whether the final plan leaves any value for the existing equity. The share price before suspension cannot answer this question. Only the final resolution plan and tribunal order can confirm how the old shares are treated.
That is why a numerical target such as ₹10 or ₹20 is not useful at this stage. A target would need a clear future ownership structure, operating plan, financial forecast and a share capital that actually exists after the resolution. Those facts are not confirmed yet.
Frequently Asked Questions
Is Impex Ferro Tech under insolvency?
Yes. CIRP began after an NCLT Kolkata Bench order dated 2 May 2024.
Who submitted the resolution plan?
Ankoor Distilleries Private Limited submitted the plan that was approved by the CoC in July 2026.
Has the NCLT approved the resolution plan?
The latest exchange filing reviewed for this article said the resolution professional filed the plan with NCLT Kolkata on 7 August 2026 seeking approval. A final NCLT approval order was not identified in the sources checked as at 31 October 2026.
Is Impex Ferro Tech trading on NSE right now?
The NSE security page currently shows the status as temporarily suspended and trading status as suspended. Check the exchange page for any later change.
What was the Q1 FY27 revenue?
Revenue from operations was nil for the quarter ended 30 June 2026. Other income was ₹0.64 lakh.
What was the Q1 FY27 loss?
The company reported total expenses of ₹177.26 lakh and a net loss of ₹176.62 lakh, or about ₹1.77 crore.
Can Impex Ferro Tech reach ₹10 or ₹20?
No reliable price target can be given while trading is suspended and the resolution plan is awaiting NCLT approval. The future treatment of old equity must first be confirmed from the approved plan.
Does CoC approval mean the company has been taken over?
No. CoC approval is one stage. The plan must be filed with and approved by the NCLT, and then implemented under the order.
Conclusion
Impex Ferro Tech is not a normal actively traded company. It has been in CIRP since May 2024. The CoC approved Ankoor Distilleries’ plan in July 2026, and the resolution professional filed it with NCLT Kolkata on 7 August 2026. As at 31 October, the reviewed documents did not show a final NCLT approval order.
The company’s Q1 FY27 results showed no operating revenue and a net loss of ₹176.62 lakh. The NSE security page also shows trading suspended. For these reasons, a normal share-price target for 2026 or 2030 would be misleading. Investors should wait for the official NCLT decision, read the final plan and check the exchange status before making any assumption about the old equity.
Disclaimer: This article is for general information and education only. It is not legal, insolvency or investment advice. SharePriceHub is not a SEBI-registered investment adviser. Trading in suspended or distressed securities involves substantial risk, and investors may lose some or all of their money. Check NCLT and stock-exchange documents and consult a qualified professional before making decisions.
Official Sources and Further Reading
- NSE – Impex Ferro Tech security page: current status, trading status and historical price information.
- Financial Express – Impex Ferro Tech exchange announcements: Q1 FY27 result filing, CIRP events and AGM notices.
- Impex Ferro Tech – CoC approval of Ankoor Distilleries resolution plan, July 2026.
- Impex Ferro Tech – Resolution plan application filed with NCLT, 7 August 2026.
- Insolvency and Bankruptcy Board of India: IBC framework and insolvency information.
