The Mumbai bench of the National Company Law Tribunal (NCLT) has approved the resolution plan submitted by Manoj Kumar Upadhyay of ACME Cleantech for erstwhile Anil Ambani-promoted Reliance Infrastructure Consulting & Engineers Private Limited (Corporate Debtor). The Rs 1.05-crore plan, which was unanimously approved by the Committee of Creditors (CoC), aims to resolve the corporate insolvency of the debt-ridden company.
The resolution plan, dated December 30, 2023, and amended on February 20, 2024, along with an addendum dated March 26, 2024, was approved under Section 31(1) of the Insolvency and Bankruptcy Code, 2016 (IBC).
Background:
The Corporate Insolvency Resolution Process (CIRP) against Reliance Infrastructure…
