Cosmic CRF files NCLT affidavit addressing eligibility concerns

Cosmic CRF Limited announced on October 10, 2025, the filing of an affidavit with the National Company Law Tribunal (NCLT), New Delhi Bench. This action follows an NCLT order dated September 25, 2025, which directed the company to file an affidavit within two weeks. The affidavit, filed on October 9, 2025, addresses concerns regarding Cosmic CRF's eligibility under Section 29A of the Insolvency and Bankruptcy Code, 2016.

The NCLT order stems from an earlier Supreme Court directive on August 4, 2025, which noted that the debate revolved around Section 29A of the IBC, 2016. The NCLAT has allowed the applicant two weeks to file their reply, with other respondents having an additional two weeks thereafter, and a subsequent one week for the applicant to file a rejoinder. The matter is scheduled to be listed again on October 27, 2025.

Myotic Trading Private Limited, Respondent No.1, has confirmed its decision not to participate in the ongoing resolution process and seeks a refund of the earnest money amounting to INR 1.5 crores. UCO Bank, Respondent No.5, also supports recalling the judgment, citing lack of jurisdiction and violation of natural justice.