The Kolkata bench of the National Company Law Tribunal (NCLT) has approved a Rs 21-crore resolution plan for Juhi Industries Private Limited. The plan was submitted by a consortium of Ranchi-based Netscape Ventures Private Limited, Ashish Agarwal and Gopi Kishan Agarwal. Creditors will take a haircut of 97.46% on admitted claims of Rs 827.20 crore.
The order was pronounced on August 25 by a bench of Labh Singh (judicial member) and Rekha Kantilal Shah (technical member). The plan pays all creditors, including corporate insolvency resolution process (CIRP) costs, within seven days of a “Record Date.” The Record Date falls 45 business days after the tribunal’s approval. The money breaks down as follows:
- Financial…