The National Company Law Tribunal (NCLT) Mumbai Bench has ordered liquidation of Mudra Denim Pvt. Ltd. after resolution plans submitted during the Corporate InsolvencyResolution Process (CIRP) were rejected as non-responsive for failure to comply with the prescribed Request for Resolution Plan (RFRP) conditions.
The order has been passed by the Bench consisting of (Judicial Members) Lakshmi Gurung and (Technical Members) Charanjeet Singh Gulati of the NCLT Mumbai on September 4, 2026, in an application under Section 33(1) along with Section 33(2) of the Insolvency and Bankruptcy Code, 2016.
The CIRP of Mudra Denim has been commenced by Jayprabhu Industries LLP, Operational Creditor, through the order dated October 14,…