The National Company Law Tribunal, Mumbai Bench-I (NCLT) recently approved a resolution plan worth ₹3.4 crore submitted by M/s Priyam Projects (I) Pvt. Ltd. for the corporate debtor M/s Steadfast Shipping Pvt. Ltd. (Steadfast Shipping) – a ship leasing company.
The Tribunal approved the resolution plan after noting that the plan had secured 100 percent assent from the Committee of Creditors (CoC). However, the Tribunal maintained that any reliefs or waivers sought in the plan would remain subject to statutory scrutiny by the authorities.
An application was filed by Nilesh Rajendra Kothari, the Resolution Professional (RP) of the corporate debtor Steadfast Shipping under Sections 30(6) and 31 of the Insolvency and…