The National Company Law Tribunal (NCLT), Allahabad Bench, has approved the resolution plan submitted by Poly Medicure Limited for Himalayan Mineral Waters Private Limited, bringing the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor to a close. The successful plan proposes a total resolution amount of ₹33.15 Crores to take over the company.
The resolution plan & distribution
The resolution plan submitted by Poly Medicure Limited, a listed entity with a strong net worth, was approved by the Committee of Creditors (CoC) with an overwhelming 98.76% vote. The following table details the distribution of the resolution amount:
| Stakeholder Category | Admitted Claims (₹) | Amount Proposed… |