Mumbai, May 18: Kinetic Trust Ltd said the National Company Law Tribunal (NCLT), Prayagraj Bench, has approved the company’s resolution plan in respect of Sibri Traders Private Limited under the Corporate Insolvency Resolution Process (CIRP), according to an exchange filing.
The company stated that the NCLT passed the order on May 6, approving the resolution plan submitted by Kinetic Trust Ltd to the Resolution Professional in the insolvency proceedings of Sibri Traders Private Limited.
According to the disclosure, the certified copy of the tribunal order was received by the company on May 15.
Kinetic Trust said it will proceed with implementation of the approved resolution plan in accordance with the directions issued by the…